Tru•Trace Technologies, Inc. was founded in 2017 (CSE: TTT) by a group of innovators and investors with some strong ideas and the commitment to see it through.
The founding concept was to fuel public companies that would make the world a better place. There innovators knew that if they could combine seemingly dissimilar constructs to solve yet unanticipated marketplace problems, they could change the world.
The TruTrace Story
With the formation of TruTrace Technologies, the first such venture was the groundbreaking platform BLOCKStrain. This was an idea whose time had finally come. As the lid was being blown off the cannabis industry in Canada and legalization was unfolding around the world, our team knew it was just a matter of time before recreational legalization was a reality. A host of consumers would begin to grow ever more sophisticated about the products they were buying. So, by combining the immutable ledger system of Blockchain, with a sophisticated technology back and front end, leveraging new genomic testing protocol and supported by a robust track and trace system, BLOCKStrain became the way consumers could know for sure that the cannabis they were buying was genetically safe and chemically pure.
With a move to the US markets and a new stock name, the core platform BLOCKStrain became StrainSecure™ and is being adopted by licensed producers, labs and retailers in North America. In April of 2019 the BLOCKStrain platform was nominated for Software of the Year by O’Cannabiz – One of Canada’s largest international cannabis conferences.
TruTrace recently acquired Spark Digital Technologies and the proprietary IgnitePro software to further enhance the core offering, adding features and functionality to complete its track and trace vision, not only for cannabis, but for any product requiring safety and verification through the supply chain.
StrainSecure: TruTrace Technologies’ first venture
There was no mistaking the market opportunity. The global cannabis market is projected to be $57 billion by 2027, and could overtake cigarette sales, currently $77 billion. The industry is “fraught with opportunity.”
But there was a bigger motivation for this new platform that would provide the most secure track and trace system in the market: Consumer Safety.
Thousands of cannabis strains exist and cultivators are breeding new strains all the time. The proliferation of different cannabis strains can prove problematic for consumers since there are more than 500 known chemical compounds in a single plant. StrainSecure demystifies the seed-to-sale process for all relevant stakeholders including producers, distributors, shippers, government agencies and consumers by creating a Master Strain Certification on an immutable, shared ledger.
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