From Investing.com: 2024-04-12 11:03:06

Akanda Corp. (AKAN) plans to enter the blockchain and artificial intelligence sector of the cannabis industry to address the complexity of the global supply chain. The company aims to use blockchain technology to verify genetics, plants, and products, offering applications like certifying clones and tracking lab test results.

Interim CEO Katie Field notes the importance of verifying authenticity from seed to sale in the cannabis industry. Akanda plans to use blockchain to ensure genetic lineage and offer “track and trace” software for inventory and lab testing results, providing end customers with Certificate of Analyses (COAs) for traceability.

Besides blockchain, Akanda also focuses on artificial intelligence with Canmart’s AI capability. Using the Access Kaneh platform, the company aims to make medical cannabis more accessible to UK patients by analyzing DNA to match individuals with tailored products. EndoDNA is another breakthrough test for personalized wellness solutions.

Akanda looks to apply artificial intelligence in various areas of the cannabis industry, from automated extraction processes to enhancing consumer education and personalized strains. Ms. Field emphasizes the company’s commitment to adopting cutting-edge technology to stay competitive in the global cannabis landscape, benefiting both companies and consumers.

Read more at Investing.com: Akanda Corp to Enter Blockchain and AI Technology Sector By Investing.com