BudBlockz (BLUNT) and Medibloc (MED) are revolutionizing the pharmaceutical sector with blockchain
Mr. Pratik chadhokar is an Indian currency, cryptocurrency and financial market advisor and analyst with a background in IT and financial market strategist. He specializes in market strategies and technical analysis and has spent over a year as a financial market contributor and observer. He has strong technical analytical skills and is known for his entertaining and informative analysis of the financial markets.
Blockchain is causing a major disruption in multiple industries as it catches the eye of companies like Microsoft, International Business Machine and more. Now, BudBlockz (BLUNT) and MediBloc (MED) are bringing this technology to disrupt the healthcare industry. Privacy remains one of the main issues today. People have witnessed the unethical use of data by reputable companies. Blockchain can solve the problem considering that it is immutable.
While MED is working on a blockchain technology to store and keep medical data related to patients intact, BudBlockz has taken it a step ahead. They bring cannabis (marijuana) to the game. The product has long been associated with healing, physically, mentally and spiritually. Also, several states have legalized it for recreational and medical use.
Although federal law does not allow the use of marijuana for any purpose, many states allow limited consumption. Some studies, according to the Mayo Clinic, suggest that the drug may be beneficial in several diseases such as epilepsy and seizures, Alzheimer’s, Crohn’s and more.
The latest news suggests that House Bill 639 will provide initial approval for the product’s legalization. It was approved based on a 234-127 vote and will be sent for more work. Iowa House Democrats also proposed legalizing cannabis for recreational use. If passed, the law would allow people over the age of 21 with a valid ID to possess up to 500 milligrams of THC.
BudBlockz is also working on an initiative to spread cannabis farms and dispensaries around the world. Their Ganja Guruz project would allow the users to have exclusive benefits apart from accessibility to the facilities. The fact that many states are looking to legalize the product and the growth of blockchain technology has been imminent, the company has the potential to revolutionize the pharmaceutical sector.
Moreover, making transactions using BLUNT, the original crypto asset of the company, will enable users to get exclusive benefits. It will potentially increase the user base of the network in the meantime, and keep the transparency of transactions intact on the blockchain.
Today’s pharmaceutical industry has some loopholes that can drastically affect consumers. Data analysis is one of the challenges, and blockchain can eliminate the need for agile tools to analyze the data. Additionally, it eliminates the cyber threats as a hacker needs to gain 51% control of the blockchain to manipulate the data. Cherry on top, to reach the data stored on one millionth block, he has to change the data on previous blocks.
The supply chain remains another challenge as low transparency does not allow consumers to verify if the product arrived at their doorstep without manipulation. Blockchain can solve this by offering increased transparency related to production. From product production to final delivery, a consumer can see the entire data to ensure the authenticity of the product.
IBM is already using this technology for supply chain management to increase consumer confidence. This is just one example of how ordinary companies are using technology to improve operations and deliver quality services.
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BudBlockz contract address is as follows- 0xe5d4988A644EF97f58583BaC42285090924417D0
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