Marijuana Business Magazine February 2019

Marijuana Business Magazine | February 2019 48 outlets for available ad space and then buy it with a click of a button. Adistry also offers a more expensive “managed ser- vices” option that facilitates relationship-building between ad buyers and sellers through a chat function. The more expensive service can cost up to $399, and Adistry collects a commission of between 1% and 5% on placements booked. Adistry focuses on small publications with fewer than 20 employees and seeks ad opportunities beyond the usual alter- native newspapers and banners—such as event sponsorships, newsletters and listings. In 2019, Larson and Cox will analyze the data that Adistry has mined with the hope of using it to gain insights into what makes advertising most effective. “We’re allowing agencies and brands to more effectively scale their campaigns and be smarter about what they do for their advertising initiatives,” Larson said. Sealing Counterfeiters’ Fate COMPANY CannVerify | WHERE San Diego | FOUNDED 2018 PRODUCT CannVerify sells product seals with unique codes that can be matched through blockchain-based software to confirm whether an item is authentic or counterfeit TARGET MARKET Cultivators and product manufacturers PRICE The software is free, while the seals range from 3 cents to 10 cents each, depending on quantity ordered. Medical marijuana patient and home-grower Shant Jabouri- an ordered what was supposedly a rare set of marijuana seeds. But the seeds didn’t turn out to be what the vendor promised, setting Jabourian on a path to create a technology that would prevent counterfeiters from defrauding cannabis consumers and damaging brands. Jabourian, who has an e-commerce background, enlisted his brother, Vicken, a web developer, and the two started building the CannVerify software and seal system in late 2017. They unveiled it at MJBizCon in Las Vegas in November. CannVerify provides serialized, tamperproof seals so that manufacturers—makers of vaporizer cartridges, edibles, balms and other products, as well as growers who might need to package product—can attach them to the packaging and verify their authenticity. The software is also intended for cultivators who sell flower. Each seal has a unique serial number, and the seal is tied to the company’s blockchain-based online system. Manufacturers, for example, can go into the CannVerify system and add product information. When consumers scan the QR code on the seal, it will take them to a page that displays product information the manufacturer provided. The page also has an area for consumers to enter a verification code that can be obtained by scratching a section at the bottom of the seal. When that code is entered, consumers learn whether they have a match. If not, then the product is likely a counterfeit. Each seal can be used only once. Trying to remove the seal and put it on another package destroys the seal, which leaves behind a security pattern when removed. On the back end, producers can use the system to perform basic analytics, such as seeing how many times a product has been scanned. That can give companies insight into which products are selling, and which ones aren’t. CannVerify uses unique seals and blockchain to foil counterfeiters. Courtesy Photo