Vancouver-based cannabis tech company TruTrace Technologies has announced that it has entered into a letter of intent with Strainprint Technologies, a medical cannabis data and analytics company to create integration opportunities across their respective technologies.
“A synergistic relationship between our software platforms will bring a new level of verification and trust to the efficacy of medical cannabis.”
“We’re thrilled to begin working with Strainprint in a greater capacity. What they’ve architected from an education and data standpoint is nothing short of remarkable, and we collectively believe that a synergistic relationship between our software platforms will bring a new level of verification and trust to the efficacy of medical cannabis,” said TruTrace CEO Robert Galarza. “We look forward to formalizing the details of our working relationship and continuing to update the industry and shareholders as our work continues to evolve.”
Formerly known as Blockstrain, TruTrace Technologies is the developer of one of the first integrated blockchain platforms to register and track intellectual property in the cannabis industry. TruTrace’s technology allows cannabis growers and breeders to identify and secure rights to their intellectual property, as well as streamlining the administrative process.
Strainprint Technologies helps medical cannabis patients and doctors to use cannabis in the most effective and responsible way possible. The Strainprint data platform supports global cannabis research and provides advanced business intelligence and treatment guidance to producers, retailers, medical practitioners, pharmacies, government, and industry.
“We’re excited to explore combining our award-winning data, analytics and research capabilities with TruTrace’s established and powerful platform. As the leading source of medical cannabis use data, with over 60 million data points from 1.2 million medical cannabis patient reported outcomes, we are uniquely positioned to work alongside TruTrace to help drive standardization, transparency and compliance that will shape the global cannabis industry in a meaningful way,” said Strainprint CEO Andrew Muroff.
Under the terms of the LOI, signed on April 30, the parties will work together to explore development and integration opportunities to utilize their mutual technologies in order to bring greater transparency and visibility to the legal cannabis industry, particularly on the medical side.