If hemp were a person, they’d be having the time of their life right now. For the past few years, the crop has been subject to a slew of legislation that released it from the shakes of prohibition. First, the 2018 Hemp Farming Act, part of the Farm Bill, classified cannabis with less than 0.3% THC (delta-9 tetrahydrocannabinol) as hemp.
This farmers in all 50 states were allowed to grow the cash crop under state hemp programs. Then in October 2019, the USDA released its interim final rule on hemp, giving the rapidly expanding industry a more comprehensive regulatory framework. On top of this, hemp farmers will be happy to know that newly released technology will make operating in the industry a whole lot easier.
Helix TCS Inc. provides the legal cannabis Industry with ‘the most powerful and effective operating services platforms in the market.’ It is a leading provider of critical infrastructure services, aimed at helping owners and operators of licensed cannabis businesses to stay competitive while reducing risk.’
On Wednesday, the Denver-based company announced the launch of the first integrated hemp tracking module. Its software subsidiary, BioTrackTHC already provides government cannabis tracking technology to 10 U.S. states and territories.
The new hemp module for the BioTrackTHC Government Traceability system will give the state of Delaware the ability to track all hemp and CBD products imported into the system to ensure transparency and customer safety.
According to the tech company, the system enforces a series of mandated controls, and before any hemp is unlocked within the system for the processing of CBD and mixed THC-CBD products, it has to be tested.
“This is a significant breakthrough for the industry and is the gold standard for managing emerging hemp markets,” says Dr. Moe Afaneh, Chief Cooperating Officer for the BioTrackTHC business line.
“It is our job to solve the problems and provide solutions to the challenges that face the cannabis industry,” says Helix TCS CEO Zachary L Venegas. The system is already live and running, and it will ensure all hemp products sold in the state are tested while helping them maintain auditable records.
The company also provides comprehensive digital and physical protection for cannabis assets, employees and business owners. Its platforms reach over 2,000 customer locations in thirty-eight states and seven countries, and it has processed over $18 billion in cannabis sales.
According to Venegas, their new hemp module is a perfect example of how the company has continued to “innovate and focus on the needs of the rapidly growing space.”
Delaware is blazing a trail and analysts think this particular move will be lauded by hemp industry actors like Marijuana Company of America Inc. (OTCQB: MCOA) and Dama Financial since it will strengthen the credibility of the different products on the market.
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