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TruTag Technologies, producer of product authentication and brand security solutions, announced a partnership with technology firm Tag-it Tech, Inc., to bring safety, security and traceability to the North American cannabis market.
The illicit trade and unauthorized diversion of legal marijuana products is jeopardizing consumer safety and costing states hundreds of millions of dollars in lost revenue.
The alliance couples TruTag’s “edible barcode” technology platform with Tag-it Tech’s blockchain-based tracking system. The combined platform offers regulators and producers visibility, auditability and a means of safeguarding the cannabis supply chain.
“Blockchain innovation offers producers, regulators and dispensers a novel means of information-sharing in the supply chain. However, blockchain systems still require a secure link between the physical and digital world,” says Paul Schutt, Chief Executive Officer and co-founder of Tag-it Tech. “TruTag’s micro-taggant technology is perfect in this respect – providing a covert means of directly tagging cannabis products and their edible derivatives.”
“We are delighted to collaborate with Tag-it Tech on this initiative in a growing industry where supply chain control and regulatory compliance are critical,” says Michael Bartholomeusz, Chief Executive Officer of TruTag Technologies. “Tag-it Tech brings technological innovation, sector experience and a shared vision for creating a trusted supply chain.”