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The Future of the Cannabis Supply Chain
A Game-Changer for Cannabis Retail, Research, and Supply Chain Operations
As blockchain technology evolves and matures, one ecosystem has emerged as a leader in development and adaptation: Solana. During the ecosystem’s annual gathering at Breakpoint 2022 in Lisbon, Solana made a series of announcements as it prepares for mainstream adaptation. Speakers shared insights into Solana’s roadmap, which includes the launching of smartphones, decentralized application (DApp) stores, and a partnership with Google Cloud, among others.
One of the most significant partnerships announced at the conference was with Google Cloud. Google Cloud will be building a block-producing Solana validator to participate in and validate the network. This integration will allow users to launch a dedicated Solana node in the Cloud, making it easier for developers to access historical data. Additionally, Google Cloud will index Solana data and bring it to BigQuery, a fully-managed, serverless data warehouse, by next year.
Solana’s partnership with Google Cloud is a major milestone and highlights the growing importance of blockchain technology in the retail, research, and supply chain industries. The Solana ecosystem is positioning itself to be at the forefront of this technological shift, making it a crucial player in the industry.
One of the key advantages of the Solana blockchain is its high transaction speed. Transactions Per Second (TPS) is a metric that records how many transactions a blockchain network can process in a second. Solana boasts a TPS rate of 65,000, which is significantly faster than other popular blockchain networks such as Ethereum and Bitcoin. Solana’s high transaction speed is not only significantly faster than other popular blockchains but it is also significantly faster than traditional payment networks such as Visa. Visa, the world’s largest electronic payment network, has a peak processing capacity of around 56,000 TPS. This means that Solana is able to process more transactions per second than Visa.
Another key feature of Solana is its decentralized architecture, which allows for greater security and transparency in various industries. The cannabis industry, for example, has been hindered by Federal prohibition and a highly fragmented technological landscape. Hazo Solutions aims to revolutionize the cannabis industry by providing a reliable and efficient technology that connects all stakeholders of the industry. The platform’s high transaction speed, low transaction fees, and partnership with Google Cloud make it well-suited for the cannabis industry, which requires a large number of transactions to be processed quickly and efficiently.
Hazo Solutions aims to address this problem with its cannabis supply chain enterprise resource planning (ERP) platform that effectively and reliably connects cannabis businesses, consumers, regulators, and cannabis-adjacent businesses (e.g., doctors and insurers).
The Hazo Solutions ERP will be built on the Solana blockchain, which uses a hybrid consensus model that combines proof-of-history and proof-of-stake. Solana’s innovative consensus model allows for lightning-fast transaction times and sub-penny transaction fees. The Hazo (HAZO) token will be the utility token of the ecosystem.
Hazo Solutions will be the blockchain ecosystem for the cannabis industry that capitalizes on the industry’s rapid growth and transformation by:
Connecting all stakeholders with a consistent stream of data and interacting functionality, solving the currently fragmented ecosystem by offering seed-to-sale lifecycle tracking, inventory management, logistics, payment processing, supply chain, customer support, data storage, and data and process certification, enhancing business and product perception and value.
Changing the status quo and revolutionizing the cannabis industry’s technology by offering a decentralized network that confirms each transaction and movement through the supply chain with lightning-fast accuracy and sub-penny transactions, while ensuring an immutable ledger from nefarious actors.
Expediting mass adoption by incentivizing the ecosystem to build the community. Early business partners will be given free use of the platform to build our ecosystem. Hazo token holders will be able to engage in activities on the protocol such as staking, pools, and farms, which will keep the supply liquid and the ecosystem running smoothly.
Additionally, the Hazo Solutions foundation will issue grants to cannabis-related businesses through governance voting by all token holders. Customers will also earn HAZO rewards by completing basic tasks in the ecosystem such as creating an account, referring Hazo Solutions, making a purchase, leaving a review, and more.
The retail industry is constantly evolving with new technologies and customer expectations. Hazo Solutions’ platform built on the Solana ecosystem can help retailers to improve the customer experience, increase security and transparency, and streamline supply chain and inventory management.
In the pharmaceutical and research communities, Hazo’s platform can help researchers to improve the efficiency and accuracy of their work, increase transparency and immutability of research data, and streamline data management and sharing. The partnership with Google Cloud will make it more accessible for researchers to build on the Solana platform allowing researchers to launch a dedicated Solana node in the Cloud, and access historical data through BigQuery.
Solana’s high transaction speed, low transaction fees, decentralized architecture, and partnership with Google Cloud make it a promising blockchain platform for various industries. Solana’s ability to improve efficiency, security, and transparency, while also reducing costs, makes it an attractive option for a wide range of businesses and organizations. Hazo Solutions will take full advantage of all of these benefits to transform the supply chain. As Hazo and Solana continue to gain traction and attract partnerships, it will be interesting to see how they will shape the future of cannabis technology.