STANFORD, California, USA – BLOK Technologies Inc. (“BLOK Tech” or the “Company”) (CSE: BLK) (FRANKFURT: 2AD)is pleased to announce that its wholly-owned subsidiary Greenstream Networks Inc. (“Greenstream”) was recently featured by Stanford University as a leading blockchain-enabled cannabis supply chain solution. The article, published by Mike Peña of The Entrepreneurship Center at Stanford Engineering in the Department of Management Science & Engineering on the hot topic: “Will Blockchain Disrupt Banks, Black Markets and Business as Usual?”, included commentary by BLOK Tech CEO Rob Dawson and CTO & Director Joel Yaffe.
The feature article uncovered the challenges and opportunities of the legalized cannabis industry as it tackles the growth of the industry and the need to manage the integrity of the supply chain with new technologies. Peña’s analysis highlighted Canada as a leader in the space and Greenstream as a high potential blockchain solution that is leading the way in providing industry and government a viable path forward. According to the article, Greenstream is “developing a regulatory compliance platform that leverages blockchain and will enable real-time oversight of the entire cannabis supply chain capturing the complete history of transactions in perpetuity on the platform for anyone with permission to see.” As a consortium network solution Greenstream was touted for its collaborative approach to the industry. According to Peña, “This isn’t about a startup looking to take down an entire industry with the disruptive potential of a new technology. Rather, Greenstream sees blockchain as an ideal way to reduce the black market and ensure the integrity of the supply chain through truth and transparency and to do so, not by making incumbents in Canada’s existing cannabis supply chain obsolete, but by working alongside them.”
“We’re pleased to have been discovered and featured by leading technology thought leaders at Stanford”, said BLOK Tech CEO Rob Dawson. “As we move to commercialize our technology, the recognition of the leading-edge solution we are building assures our stakeholders that we are progressively moving in the right direction. And because of the vision we have, we’ve been able to attract talent from large financial-services companies who want to be in a start-up environment and want to be on the leading edge of developing new blockchain applications.”
“It’s exciting to be on Stanford’s radar and to be showcased in the recent STVP review,” said Joel Yaffe, Chief Technology Officer of Greenstream, “Blok Technologies and Greenstream together are developing 3rd generation blockchain technologies, disrupting overall operations in practically every industry. We strongly believe that as blockchain is introduced to AI, a fundamental shift in data management and intelligent insights will emerge – this is where we are heading and we appreciate Stanford’s recognition!”