Cannabis
Market value
SecureTap's anti-counterfeiting technology benefits the cannabis industry
Instant Authentication Through NFC: SecureTap's NFC chips enable consumers to quickly verify the authenticity of cannabis products with a simple tap of their mobile device, accessing blockchain-verified records and significantly reducing the likelihood of purchasing counterfeit items.
Immutable Blockchain Records: Each cannabis product's history, including manufacturing details, ownership, and transactions, is securely recorded on the blockchain, creating an unalterable record that deters counterfeiters by making replication or false claims of authenticity nearly impossible.
Transparency and Traceability: Blockchain integration provides full transparency and traceability of the cannabis product's lifecycle, from production to sale. Consumers gain access to detailed information about the product's origin, materials, and journey, enhancing trust and discouraging counterfeit purchases.
Secure Encryption with NFC: The encrypted NFC technology adds an advanced security layer, ensuring that even if counterfeiters can mimic the product's physical appearance, they cannot replicate the encrypted digital authentication, protecting against fake reproductions.
Growers, Distributors, and Dispensaries need tools to protect them from bad actors
Rapid Market Growth: The counterfeit cannabis market has been growing at an alarming rate, with estimates suggesting that fake cannabis products make up to 20% of the market in some regions.
Health and Safety Risks: Over 30% of counterfeit cannabis products tested were found to contain harmful contaminants such as pesticides, heavy metals, or synthetic cannabinoids, posing serious health risks to consumers.
Consumer Deception Prevalence: Surveys indicate that up to 40% of cannabis consumers have unknowingly purchased counterfeit cannabis products at least once, highlighting the widespread nature of the problem.
Law Enforcement Challenges: Law enforcement agencies report a 25% increase in the seizure of counterfeit cannabis products year-over-year, underscoring the growing challenge of combating these illegal goods.
Consumer Trust Erosion: The presence of counterfeit cannabis products has led to a 15% decrease in consumer trust towards the cannabis market, impacting the reputation and consumer base of legitimate businesses.