The sale of federally legal cannabis products is on the rise, but the contamination and mislabeling of these products is still a major challenge. To solve this problem, Chow420 recently launched on StartEngine, a popular startup investing site. According to their page, Chow420 provides customers with unmatched transparency and traceability of federally legal cannabis products through a secure system that is built on a patent-pending blockchain product verification process.
Tackling a Massive Problem
Currently, there is an oversaturated and underregulated landscape in the CBD industry, making it difficult for high-quality brands to stand out. In fact, a 2017 research study revealed that 70% of products in the market are incorrectly labeled. Additionally, ever-changing state laws and unsubstantiated health claims further add to the complexity.
This is where Chow420 comes in. Through a proficient blockchain-empowered product verification mechanism, the company enables consumers to acquire legally compliant products that have been examined for congruity with labeling, ingredient suitability, and production techniques. On the merchant side, retailers can use Chow420’s flexible e-commerce platform to expand their businesses digitally in a safe and secure environment.
Crowdfunding Success and Future Plans
So far, Chow420 has crowdfunded more than $1.8 million. With a first-mover advantage and strategic market position in the multibillion-dollar cannabis market, Chow420 has the potential to disrupt the CBD industry and bring much-needed transparency and traceability to the forefront of legal cannabis products.
Stay updated on the latest startup news and investments by signing up for Benzinga’s Startup Investing & Equity Crowdfunding Newsletter.
This article originally appeared on Benzinga.com.