Crypto Startup from Germany Develops World’s First Blockchain-based Portal for Cannabis and CBD Lab Analysis
The German company CeBioLabs has developed the first blockchain-based solutions for the cannabis market. The timing couldn’t have come at a better time, as Germany is now planning to legalize cannabis for recreational use. This will create a completely new market in Europe with huge potential. Germany would thus be a real pioneer in Europe. The company is currently developing the world’s first portal for laboratory analysis, which will be stored in the blockchain. The portal will be available on Lab-Authenticity.org in the first quarter of 2023.
Young Startup already Founded in 2021
Already since 2018, the founding team of CeBioLabs has been operating one of the leading CBD wholesalers in Europe. The team has built up a broad network in recent years and knows the international cannabis market and its players very well. Then, at the end of 2021, the idea was born to link the cannabis business with blockchain technology and its own crypto token. The Blockchain technology with its transparency and security, regarding the immutability of data, is one of the future technologies and is an essential part of the CeBioLabs systems. The CBSL token serves as an interface between the company and the crypto market. Another core issue that the CeBioLabs team deals with is research and development.
The CBD and Cannabis market
CBD and cannabis are booming since several years and is growing rapidly. In medicine, cannabis is finding more and more new areas of application, also legalization for recreational use is progressing. With the planned legalization of cannabis in Germany, a new market worth billions are emerging. It is assumed that after Germany other countries will follow. While the volume of the global cannabis market in 2021 was about 30 billion, it is expected to increase to over 200 billion by 2028. That is more than 30% annually. For the new and so rapidly growing market, there will also be many challenges and hurdles for the cannabis industry. This is where CeBioLabs comes in.
Problems in the Cannabis Market
With the rapid growth of the market, the number of products and all the players involved in the market are also growing. Complex and untraceable supply chains are a major problem in the market. The first supply chain laws have already been enacted. Supply chain laws are supposed to commit companies to fair and sustainable business and minimize the risks for people and the environment.
Another problem, which is especially important for the cannabis market, is certified and genuine certificates of analysis. Only certified laboratories are allowed to issue them. Furthermore, it must be ensured that the certificates of analysis are not false or manipulated. Certificates of analysis indicate the ingredients of a product and are responsible for whether a product is legal and suitable for trade or not.
Solutions for the Cannabis Market
To solve these problems, CeBioLabs is turning to one of the technologies of the future, blockchain technology. Blockchain technology stands for transparency in the insight of transactions and for the immutability of data. Through the CeBioLabs Supply Chain Management System, all processes and involved actors along the supply chain are precisely documented and are transparent for all users of the system and can be viewed at any time. CeBioLabs’ SCM system is a complete solution for all supply chains within the cannabis industry.
With the blockchain based analysis portal CeBioLabs has developed another solution for all involved stakeholders. This includes a portal where all certificates of analysis of the products are uploaded directly and unaltered by the laboratories. Thanks to blockchain technology, these can no longer be changed or manipulated and are permanently accessible to all players. Certificates of analysis are of particular importance for cannabis products as only products that have been laboratory tested and are subject to legal regulations may be sold.
CeBioLabs has already signed several partnerships that will soon use the blockchain-based solutions. In addition to the supply chain management system and the analysis portal, there will be more projects and solutions from the German startup.