ACS Laboratory Launches Second Phase of Partnership with Blockticity to Address Fraud in the $4.5 Trillion Certification Market
New COA System Addresses Need for Reliable Traceability in Hemp and Beyond
MIAMI, Oct. 11, 2023 /PRNewswire/ -- Pioneering in hemp, cannabis, mushroom and kratom testing, ACS Laboratory is pleased to expand its longstanding partnership with Blockticity, a pivotal player in technology solutions that combats fraud within the vast certification and authenticity market, to create a transparent Certificate of Analysis (COA) verification system.
This initiative ensures that COAs authenticated by Blockticity, from cannabis and hemp to a wide array of industries, are verified and securely recorded on the Avalanche blockchain – a decentralized, open-source proof-of-stake blockchain with smart contract functionality.
As evidence of this collaboration's potential, ACS Laboratory has minted 36,750 COAs on Avalanche's EVM-compatible C-chain, representing a retail value of $275,625,000.
Blockticity's technology is gaining recognition, with entities worldwide evaluating its applications for document security and product integrity, reflecting its adaptability beyond just the hemp and cannabis sectors.
Given vulnerabilities like QR code tampering, visual modifications and data alterations, the credibility of COAs is often compromised. Blockticity's solution ensures COAs have consistent, verifiable proof by anchoring them to the Avalanche blockchain. Companies can then access the report using the QR code, tracing it back to the original laboratory client.
The lack of a robust track and trace system is prevalent across many industries. In response, ACS Laboratory, Blockticity and 3Chi embarked on a mission in November 2021, launching the sector's initial hemp COA as a Non-Fungible Token (NFT).
Building on this, Blockticity is now setting the pace by automating the ACS Laboratory COA verification system for consumers and patients, enterprises sourcing raw materials and verifying lab results, law enforcement units, and media representatives.
"We're pleased to join forces with Blockticity once again, harnessing this avant-garde technology for our esteemed clients," said Roger Brown, president of ACS Laboratory. "This technological leap allows any COA viewer to trace its origins and detect any discrepancies. This venture could pave the way for a comprehensive global tracking mechanism, reinforcing the credibility of certification processes, backed by the Avalanche blockchain."
"We believe that these technologies have the potential to make a positive impact on the world, and we are excited to partner with Blockticity to build a better future," stated Winston Harding, CEO of LYTHA Ventures.
About ACS Laboratory:
ACS Laboratory is an award-winning testing facility serving the cannabis, hemp, mushroom and kratom industries with consistent, precise results. The team has earned 82 Emerald Test Badges for accurate results, more than any other lab in the USA. Exceeding regulatory requirements, ACS is ISO/IEC 17025:2017 accredited, DEA licensed, CLIA licensed and hemp-testing compliant in all 50 states (including Puerto Rico), and 17 countries. The facility is also a Florida Department of Health "Certified Marijuana Testing Laboratory." Beyond compliance, ACS is committed to innovation, continuously developing protocols to support clients as they expand into new product types and verticals. ACS Laboratory operates a 20,000 sq. ft. facility, making it the largest in the Eastern USA. Explore ACS' blog for the latest botanical science and laboratory testing information. Visit www.acslab.com for a complete list of testing services and capabilities.
About Blockticity
Blockticity offers technology solutions aimed at mitigating fraud in the certification and authenticity realm. Its potential extends beyond hemp and cannabis, promising reliability for various industries vulnerable to deceit and counterfeiting. Discover more at https://blockticity.io/.
About Lytha Ventures
LYTHA Ventures invests in early-stage companies that are using cutting-edge technologies to address global challenges and foster sustainable solutions. Our focus areas include AI, blockchain, and clean energy. https://lythaventures.com/
About Ava Labs
Ava Labs makes it simple to deploy high-performance solutions for Web3, led by innovations on Avalanche. The company was founded by Cornell computer scientists, who partnered with Wall Street veterans and early Web3 leaders to execute a promising vision for redefining the way people build and use open, permissionless networks. Ava Labs is redefining the way people create value with Web3.
Website | Twitter | LinkedIn | Facebook
About Avalanche
Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs.
Media Contact:
Durée & Company, Inc.
954-723-9350 / [email protected]
SOURCE ACS Laboratory
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article