CHICAGO, March 22, 2021 (GLOBE NEWSWIRE) — 357 Hemp Logistics (357), a trusted chief in international hemp transportation, and Global Smart Commodity Group (GSCG), a Twenty first-century multi-asset commodity change, are becoming a member of forces to combine rising and leading edge applied sciences, together with good contracts into provide chain administration and logistics to make sure high quality management and actual specs for socially acutely aware and sustainable commodities.
GSCG’s proprietary Salus platform provides an trade first seed-to-delivery development and provide monitoring functionality constructed on GSCG’s blockchain, in addition to a first-of-its-kind buying and selling expertise, seamlessly and securely combining provide chain administration expertise, value discovery and threat administration instruments on a single platform. GSCG is focusing its first platform utility on hemp and plans to develop it to a number of commodities globally sooner or later,.
“Chicago, Illinois has been the commodity buying and selling capital of the world for the final 175 years,” acknowledged Jack Bouroudjian, GSCG Chairman. “We at GSCG intend to make hemp the following nice tradable commodity. As 357 Hemp Logistics famous on the latest Illinois Hemp Summit, the significance of threat administration within the hemp trade can’t be understated. The eager curiosity by Illinois’ hemp trade and buyers in adoption of blockchain expertise to handle threat and enhance transparency all through the availability chain could propel the state to the highest of the trade and function a mannequin for different untraded commodities markets, that are estimated to exceed $500 billion yearly.”
357 Hemp Logistics would be the first hemp logistics firm to make the most of GSCG’s Salus Platform. The report of every hemp batch’s traits from seed to supply will likely be saved throughout the Salus Platform blockchain’s distributed pc community and simply accessible to all authorized events. One of many targets of the GSCG-357 collaboration is to develop a straightforward, fast and cost-effective technique that may very well be deployed nationally to allow regulation enforcement and regulators to entry the cargo knowledge throughout roadside stops. GSCG is already in discussions with authorities companies and providing options which they want.
The Salus Platform will make it almost inconceivable to change or forge documentation on lab outcomes, high quality, amount or different traits, and can enhance provide trackability at each step. By sustaining the captured knowledge on the blockchain and holding the chain of custody, GSCG makes promoting stolen property inconceivable.
“Too many hemp shipments immediately encounter driver detainments or delays on account of lack of ability to rapidly confirm THC-level compliance or for noncompliance on account of failure to observe correct normal working procedures. This has resulted in expensive influence upstream and downstream within the hemp provide chain and hesitation by some to take part within the hemp trade,” mentioned Kevin Schultz, 357 President and Co-Founder. “GSCG’s Salus Platform solves this by creating one supply of fact for consumers to assessment pertinent data earlier than investing in and receiving a cargo of product, and sooner or later may allow prompt verification of compliance by regulation enforcement and regulatory our bodies. It would assist streamline and speed up the expansion of the hemp trade, which analysts venture will develop to $26.6 billion in income globally by 2025.”
On the commodity facet, GSCG’s inaugural commodity launch will likely be its Hemp spot market in 2021. For the primary time, authorized farmers, producers, processors and different constituents within the international Hemp market will be capable to observe true value discovery in motion on GSCG’s market buying and selling platform for hemp Biomass, Extracts (Oils & Isolate) and Fiber (Bast & Hurd).
This can permit all events on the buying and selling platform to watch the provenance and high quality of the crop from when it’s planted, by the expansion cycle to reap. Visibility will proceed all through the testing, processing, packing, delivery and warehousing (as required), by to last supply.
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About International Sensible Commodity Group
International Sensible Commodity Group brings rising and leading edge applied sciences into a brand new commodities buying and selling expertise for the commodities of the Twenty first Century. Our deal with Environmental, Social, and Company Governance (ESG) practices brings GSCG to the forefront of ESG commodities buying and selling immediately and for the longer term. Beginning with hemp, GSCG’s proprietary buying and selling platform, Salus, will propel commodities buying and selling to the following degree by offering elevated transparency at each stage of the availability chain. And with this single supply of fact and built-in central value discovery mechanisms, GSCG will assist resolve current value and provide chain inefficiencies for underserved commodities markets across the world. Please go to us at www.smartcommoditygroup.com.
About 357 Hemp Logistics
357 Hemp Logistics, a division of The 357 Company, is setting the usual of excellence for hemp logistics and provide chain administration, centered round compliant normal working procedures and dedication to unparalleled customer support and schooling. Headquartered in Illinois, 357’s management crew collectively has over 50 years of transportation, logistics, medical system, and provide chain administration expertise, along with growing operational processes and procedures for a few of largest manufacturers within the restaurant house supply and extremely regulated medical hashish industries, together with GrubHub, Verano, and PharmaCann. For extra data on 357 Hemp Logistics and the trade go to www.357Company.com and observe 357 on social media: Facebook, Instagram, and LinkedIn.
International Sensible Commodity Group
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