Saint Petersburg, FL, Nov. 08, 2017 (GLOBE NEWSWIRE) -- Nuvus.io, a division of Nuvus Corp, is a decentralized blockchain company formed to build big data and supply chain verification ecosystem using distributive ledger technologies and trusted environment networks for the Cannabis industry announces its plan to begin the largest development and implementation of public and permissioned based private blockchain platform leveraging a variety of blockchain technologies for cannabis industry. We will focus on the use of Blockchain as a technology to enhance the overall chain of custody from seed to user. Blockchain is a highly effective trust mechanism which uses a cryptographically-secure shared ledger to irrefutably track complex transactions amongst parties while protecting privacy and eliminating fraud.
Our mission involves introducing a trustless verification system on all supply chain transactions in the cannabis industry, providing users, growers, retailers, governments and doctors full transparency into the supply chain, from seed to user distribution, with decentralized blockchain verification at every step. This will provide transparency on the type, potency and potential benefits of different strains and their effects on the human body, adding significant value to the commodity across uses, research and industries, some of which are likely not yet defined.
Our technology will have the potential to become one of the most used and valuable products in the Industry, potentially becoming ubiquitous across all industry participants. Our technology, if globally adopted, will add billions of data points to the supply chain, benefiting medicinal research and proper diagnosis in patients. By bringing decentralized, immutable blockchain technologies with billions of live, verified data points to the cannabis industry, we expect to add significant value and transparency to the Industries supply chain. Currently, supply chain data is non-transparent and is controlled by centralized organizations and authorities, subject to industry manipulation and slowing the adoption of life saving treatments and research.
Nuvus.io, along with its partners, will provide a distributed ledger network and trusted technology, based on open source blockchain technologies to house and secure the data while providing uniform access to all its stake holders. Our partners will include master growers, universities, doctors, scientists, technology companies and various government affiliates working in tandem to ensure the patient can be assured of getting the right product at the highest quality for the treatment being sought.
The Nuvus Protocol will be designed using CognetiX, enterprise grade blockchain technologies and oracles to verify supply chain integrity and trusted transactional applications. We have developed the Global Exchange Token (“GET”), a proprietary ERC20 Ethereum based token that will be used for the validation process of both the quantitative and qualitative data collection, process flow, transactions and analytics related to the supply chain details being captured by the blockchain. The Token’s blockchain will provide real time patient’s feedback and grower input to encourage full transparency of data providers and user behaviors, rewarding the timeliness, quality, or reach of communications, among others as well as accountability of diagnosis and research for the medicinal side of the industry.
Our Global Exchange platform will allow participants to quickly see the benefits of greater visibility, optimization, improved reconciliation, greater auditability and regulatory compliance. For users and patients, quality assurance is improved through origin and traceability of products throughout the cannabis supply chain.
Nuvus.io is planning an ICO in the beginning of the first quarter 2018 with pre-sale to begin in December 2017. For more information please contact us at; ico@nuvus.io.
About Nuvus.io
Nuvus.io is a decentralized blockchain company, formed to build a global exchange platform for big data and supply chain verification ecosystem using distributive ledger technologies through public blockchain and private permissioned blockchain for the Medical and Recreational Cannabis.
Nuvus.io is a subsidiary of Nuvus Corp. Nuvus Corp is a parent company of HempTech Corp (OTC: HTCO).
About Nuvus Corp (HempTech Corp)
HempTech Corp (OTC: HTCO), a Nevada Corporation, through its business units and subsidiaries, provides Advanced Controlled Environment Agriculture (CEA), Precise Cognitive Automation, Sophisticated Analytics, Artificial Intelligence (AI) Grow Systems, Modular Grow facilities, Power & Energy Services, Consulting Services and Financing for the cultivators and Medium to Large Scale Growing Facilities.
To request further information about HempTech, please email us at info@hemptech.com, log onto our website at http://www.nuvuscorp.com or visit us at our Facebook page https://www.facebook.com/hemptechcorp or on Twitter @nuvuscorp.
Forward-Looking Statements
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