Liberty Leaf Holdings (CSE:LIB; OTCQB:LIBFF) and Blox Labs (CSE:BLOX) shared an updated to shareholders on the development of their phase 1 stage Blockchain-based smart contract supply chain management platform project.
As quoted in the press release:
After several key meetings with main stakeholders and the development team, BLOX is working towards completion of a cannaBLOX Whitepaper and has completed the initial framework and analysis required to do so. To date, specific focus has been on project scoping, itemizing utility and process flow, schematic design, and Cannabis industry analysis. Additionally, as announced on January 2, 2018, BLOX has created a satellite development team in Eastern Europe that is specialized in Blockchain and Decentralized Application Technologies, including omni-language development in Ethereum and NEO. With the preliminary inputs and analysis now complete, this new team will be instrumental in the ongoing cannaBLOX development. BLOX and LIB shall provide further updates as the project progresses.
The cannaBLOX Blockchain software will aim to ease and obliterate logistical bottlenecks, ensure product safety and quality of supply, minimize fraud and potential criminal activity, and assist with taxation and regulatory compliance across various levels of government within the legalized cannabis marketplace.