NEW YORK, May 24, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – NetworkNewsAudio, via NetworkNewsWire (“NNW”), a multifaceted financial news and publishing company that delivers a new generation of social communication solutions for business, today announces the online availability of its interview with BLOCKStrain Technology Corp. (TSX-V: DNAX ), a client of NNW specializing in tracking global cannabis strains from genome to sale through a secure, proprietary blockchain technology platform.
The interview can be heard at http://nnw.fm/zGM4Q
NNW’s Stuart Smith introduces Robert Galarza, CEO and co-founder of BLOCKStrain, and Tommy Stephenson, CTO and co-founder of BLOCKStrain, in an interview that highlights the company’s ongoing efforts to address opportunities and challenges in the burgeoning Canadian cannabis industry, particularly as they relate to visibility of inventory and product. The interview begins with a review of the company’s business model and its unique offerings.
Galarza details the Company’s strategy and products, indicating that it specializes in the development of proprietary software that leverages blockchain technology to enable the identification and verification of genetic cannabis strains from gene to sale. He reviews multiple benefits of this platform, including its ability to create a record that allows individual strains to become protected intellectual property, as well as its capability to provide a streamlined approach to the mandatory testing procedures that are required for cannabis sales in the Canadian market.
In discussing the Company’s technology and its capabilities, Galarza indicates, “This industry is growing at such an exponential rate. You need to be able to create a method, utilizing technology, to verify that product and make sure the product that’s being put on shelves is tested and safe… You want to make sure what you’re putting in your body is healthy.”
The discussion makes note of the Company’s strong leadership team, first highlighting the extensive industry experience of Chief Technology Officer Tommy Stephenson. He notes that he has worked with a multitude of Fortune 500 companies for nearly two decades, focused primarily on the development of custom enterprise-based software. Galarza, in speaking about his own experience, states that he worked as a lawyer prior to his time in the cannabis sector. This background has positioned Galarza to be an effective regulatory support resource for both BLOCKStrain and its clients.
Reviewing career highlights in the cannabis sector, Stephenson states that the team has been “focused heavily on connecting disparaged systems, both hardware and software” including “everything from grow lights and grow systems down to technology, working with some of the largest players in the space from both back-end and a consumer-facing end.” Stephenson confirms that this work has afforded BLOCKStrain the ability to see many of the issues that were apparent in the cannabis space, most notably those related to visibility, collaboration and performance optimization.
With a solid foundation in place, BLOCKStrain is looking toward the future. Galarza indicates that the Company is focused specifically on the Canadian cannabis market ahead of expected recreational legalization later this year. “Our goal is to help this industry develop and unfold,” he states. Galarza goes on to note that the company currently has 97 licensed producers in Canada and over 5,000 craft growers, adding that BLOCKStrain is looking to grow its market share by “putting the best solution in front of the industry and all of the participants here.”
“We’re extremely excited, specifically with 2018, we’ll be launching BLOCKStrain… which is going to be a huge feat, but only the beginning of what we feel to be one of the most well engineered ecosystems to hit the cannabis space,” Stephenson adds. “It’s been a long road, and we’re just about to break through.” He emphasizes that the Company has three years’ worth of technology planned in its arsenal “for basically becoming the largest technology company in the cannabis industry.”
About BLOCKStrain Technology Corp.
BLOCKStrain Technology Corp., headquartered in Vancouver, Canada, is an integrated blockchain platform that registers and tracks cannabis intellectual property (“IP”) from genome to sale. BLOCKStrain’s proprietary, immutable, cryptographically secure blockchain technology establishes a global single source of truth for cannabis strains and their ownership. By offering a secure API network, BLOCKStrain makes it easy for cannabis testing providers, grow facilities, app and software developers, research groups and major supply chain platforms to build cannabis-centric applications that will help fuel technology and innovation for this rapidly growing sector.
For more information, visit the company’s website at www.BLOCKStrain.io
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Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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