BLOCKStrain announces Letter of Intent with NXT Water
Constellation Brands Inc. (NYSE: STZ) made headlines when it invested billions into Canopy Growth Corp. (NYSE: CGC), a Canadian licensed producer of cannabis, signaling the beverage industry’s serious interest in the cannabis industry. While THC-infused beverages have captured the interest of the alcohol industry, Brightfield Group projects that the hemp-based CBD market could outpace it and reach $22 billion by 2022.
BLOCKStrain Technology Corp. (TSX-V: DNAX) (OTC: BKKSF) recently signed a letter of intent with NXT Water LLC to integrate its blockchain technology into the launch of NXT’s AKESO Functional Fitness Water. The hemp-based CBD-infused beverage will become the company’s new benchmark brand in the rapidly growing CBD beverage industry.
In this article, we will take a look at the CBD-infused beverage market, NXT’s breakthrough product, how BLOCKStrain’s technology sets it apart from competitors, and why investors may want to consider BLOCKStrain as a potential investment opportunity.
There’s little doubt that CBD-infused beverages will play a major role in tomorrow’s functional beverage industry. In fact, Coca-Cola Co. (NYSE: KO) was rumored to be in discussions with a Canadian licensed producer of cannabis last year to launch such products. The combination of rising consumer interest and growing interest among large multinational beverage companies creates a potential opportunity for investors.
Consumer searches on Google for the term “CBD water” have soared over the past five years. Not surprisingly, the greatest interest is in states where cannabis has been legalized, such as California and Colorado. With the passage of the 2018 Farm Bill—which legalized hemp and moved hemp-based cannabinoids off of Schedule I of the Controlled Substances Act, there could be even greater interested for hemp-based CBD-infused water ahead.
NXT Water plans to capitalize on these trends with the upcoming launch of its AKESO Functional Fitness Water. With its proprietary homogenization/infusion process, the company combines organically-grown hemp oil, oxygenated electrolytes, vitamins, and minerals to create the finest, odorless, colorless, and cleanest tasting water on the market.
Providing Real Verification
The problem facing consumers interested in CBD-infused beverages is that most producers are startups with no track record. Without that trust, there’s no way to ensure that companies are making accurate claims about the ingredients in their products. The FDA has even issued warning letters over the past several years saying that many CBD-infused pet and human products contained less or none of the cannabinoids advertised on the label.
BLOCKStrain solves these problems by tracking ingredients from genome-to-sale using an immutable blockchain ledger. With the scan of a QR code, consumers have real-time access to a dashboard of verified ingredients along with a certificate of authenticity. Manufacturers also benefit from clear documentation of where their products originated and how they moved across the supply chain—critical information for regulators and quality control personnel.
“There are many brands in the hemp-derived beverage space making unsubstantiated claims regarding the ingredients, potency and overall quality of their products,” says NXT Water CEO Todd Waks. “Leveraging BLOCKStrain’s technology, AKESO will offer its customers a new form of trust in the product they ingest.”
BLOCKStrain Technology Corp. (TSX-V: DNAX) (OTC: BKKSF) continues to make significant headway in bringing quality assurance and compliance solutions to market across the cannabis industry. With this latest deal, the company demonstrated that it’s moving beyond typical cannabis cultivators and into other market segments that could experience rapid growth—and investors may want to pay attention.
For more information, visit the company’s website at www.blockstrain.io.
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