TORONTO, Aug. 14, 2019 /CNW/ – Shoppers Drug Mart (“Shoppers“) right now announced the profitable completion of Phase 1 of its blockchain-secured pilot plan (the “Pilot System“) with software program companion TruTrace Technologies Inc. (CSE: TTT OTCQB: TTTSF) (“TruTrace“). The Pilot System is especially developed to enhance transparency, interoperability and solution identification inside the health-related cannabis market. Shoppers has now engaged TruTrace and Deloitte Canada LLP (“Deloitte”) to execute Phase two of the Pilot System, with complete production and implementation of TruTrace’s StrainSecure platform targeted for late November 2019.
Phase two of the Pilot System, employing Deloitte’s project management and advisory capacity and TruTrace’s StrainSecure™ method, will be focused on creating a unified strategy to health-related cannabis requirements, onboarding licenced producers and other partners to track and trace all solution history—from genome to distribution. The plan is anticipated to enable researchers and clinicians to match therapeutic outcomes to distinct genetic and chemical profiles, and supply physicians, pharmacists, and individuals with higher self-assurance in the items they prescribe or consume.
Below their StrainSecure™ method, the TruTrace group collects plant testing information and performs genomic verification in plant batches which are then registered in a blockchain-enabled database for intellectual home protection and strain validation. All data gathered from the plants, such as their molecular and chemical makeup, can be tracked through the technologies.
“We have been encouraged by the response to this traceability initiative. There is a clear consensus inside the cannabis market that the supply and good quality of health-related cannabis have to be transparent and identifiable in order to meet the expectations of individuals and well being care practitioners,” said Ken Weisbrod, Vice President of Enterprise Improvement, Shoppers Drug Mart. “It is extra crucial than ever to be capable to assure all stakeholders, from regulators to well being care practitioners, that the health-related cannabis market is taking the essential methods to establish the infrastructure needed to provide standardized, constant medication to our individuals. Shoppers has turned to two trusted leaders, TruTrace and Deloitte Canada LLP, to help us in the second phase of the project.”
“As the cannabis sector continues to swiftly evolve in Canada, the market demands to enhance transparency to all stakeholders by demonstrating adherence to rigorous procedures to keep the all round integrity of the provide chain,” said David Stewart, Companion inside Deloitte’s Forensics practice. “Strengthening traceability and verification of cannabis items will bring rewards to the market as a complete, and most importantly, make self-assurance and accountability into the cannabis health-related worth chain. We are proud to be portion of such an crucial initiative given Deloitte Canada’s leadership in the cannabis space.”
Initial announced in early June at the second annual Globe Cannabis Congress in Saint John, New Brunswick, the Pilot System is getting created and implemented by TruTrace using their proprietary StrainSecure™ platform. StrainSecure serves as the central hub for identity management, asset tracking, validation and solution authentication, as properly as a master registry for standardized testing, solution verification, and good quality assurance.
About Shoppers Drug Mart:
Shoppers Drug Mart is 1 of the most recognized and trusted names in Canadian retailing. The corporation is the licensor of complete-service retail drug shops operating below the name Shoppers Drug Mart (Pharmaprix in Québec). With almost 1,300 Shoppers Drug Mart and Pharmaprix shops operating in prime places in every single province and two territories, the corporation is 1 of the most practical retailers in Canada. The corporation also licenses or owns 47 medical clinic pharmacies operating below the name Shoppers Merely Pharmacy (Pharmaprix Simplement Santé in Québec), and supplies cosmetic dermatology solutions at two standalone places, the Beauty Clinic. As properly, the corporation owns and operates 43 corporate Wellwise by Shoppers Drug Mart shops and an ecommerce web page Wellwise.ca, generating it the biggest Canadian retailer of dwelling well being care items and solutions. In addition to its retail retailer network, the corporation owns Shoppers Drug Mart Specialty Well being Network Inc., a provider of specialty drug distribution, pharmacy and complete patient assistance solutions, and MediSystem Inc., a provider of pharmaceutical items and solutions to lengthy-term care facilities. Shoppers Drug Mart is an independent operating division of Loblaw Firms Restricted.
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