Methods and apparatus for performing agricultural transactions
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United States of America Patent
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Jun 20, 2023
Grant Date -
Aug 26, 2021
app pub date -
Aug 5, 2020
filing date -
Feb 25, 2020
priority date (Note) -
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status (Latency Note)
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Abstract
Systems, apparatus, and methods for transacting, recording, validating and/or verifying agricultural products. The 2018 Farm Act rescinded industrial hemp from Schedule I of the Controlled Substances Act (CSA). Although industrial hemp has a variety of uses, the Government's biggest concern is the ingestion of tetrahydrocannabinol (THC) and cannabidiol (CBD). Commercial regulation typically balances a variety of factors: e.g., consumer protection, regulatory overhead, market competition, tax revenue, public policy, etc. In contrast, law enforcement has a singular purpose, and may go to extraordinary lengths to stop criminal activity. Various embodiments described herein provide a blockchain ledger-based supply chain that allows many commercial and regulatory entities to independently cooperate. Every transaction is permanently and transparently recorded within a chain-of-custody; the chain-of-custody enables a traceability. A variety of new applications are enabled by the blockchain ledger-based supply chain.
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