Published on December 19, 2017 By Alex Topchishvili

Bitcoin, Blockchain and Cannabis


Almost ten years ago, bitcoin fueled the dark web, where illegal drugs and illicit goods were sold on the Silk Road black market. Today, blockchain technology could bring much needed transparency, legitimacy, and security to the legal cannabis industry. Here’s how: 

Seed to sale 

Blockchain has the potential to be the ideal mechanism in which regulatory bodies can capture the history of cannabis through the entire supply chain, ultimately ensuring consumer safety and product quality control. By using the immutable ledger than blockchain offers, consumers and operators will have vital information about the product they are dealing with - from seeds, water quality, and fertilizer used, to patient ID’s and doctor certificates. This means less separation between producers, growers, labs, dispensaries, and consumers. 


The cash intensive nature of the cannabis industry makes it ripe for criminal activity. Paying an electrician, for instance, with money obtained from the sale of cannabis is technically considered money laundering. The blockchain, which makes up an online ledger where transactions are recorded and processed, has become a huge point of fixation as a potential solution to the industry’s banking woes. Outside of payments processing, blockchain may help business owners gain access to previously inaccessible loans, credit history, and investment. 


In simple terms, an ICO (Initial Coin Offering) is a means of crowdfunding via the use of cryptocurrency. While ICO’s are still young, unregulated, and on occasion plagued by scams, they have already activated communities of interest and emerged as a powerful channel for fundraising, market testing, and customer engagement. You can bet that cannabis entrepreneurs are taking a long, hard look at the ICO route. 

Blockchain is inherently about distributing trust - a tenet that we take very seriously here at Blinc. So, stay tuned and to be continued… 

Subscribe to our Blog


Join The Conversation



A few words from industry leaders

Quality control and compliance were our most important factors for choosing a hardware designer, producer and supplier. Blinc was chosen over others considered based on their reputation and experience for these key factors.
A team of rockstars across the board, from brand realignment to product development to training and support - big thank you!!!
The integrity of that medicine starts with the hardware that is used to deliver it and we knew that partnering with the Blinc Group was the best way to provide that kind of quality and reliability to our patients.
Working with Blinc Group was a completely seamless experience. Our team is very particular and detail-oriented, but Blinc was able to walk us through all our questions and queries to create a product we are stoked about.
The Blinc Group's unmatched customer service and supply chain diligence give us the peace of mind needed to provide our patients and customers with a quality product.
You guys are the best! Keep up the great work! We look forward to working more with Blinc as our hardware partner!
We could not be happier with our choice to work with The Blinc Group, and look forward to continue innovating with them in the future.
The alignment between our two companies is fantastic. Blinc takes safety and quality as seriously as we do, and the outcome of the working relationship has both teams excited...
The Blinc Group produces high quality products and provides great, attentive, and friendly customer service. We especially appreciate their documented attention to testing and compliance.
Fume Labs and the Blinc Group are incredible partners and we’re very fortunate to be working with them on our first product.