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BLOCKStrain Technology Announces Third-Quarter Product Update

Significant Enhancements Drive Usability and Performance

VANCOUVER, March 27, 2019 /CNW/ - BLOCKStrain Technology Corp. (TSX:V: DNAX.V) (OTC:BKKSF - News) ("BLOCKStrain" or the "Company"), creator of the first blockchain-secured, fully-integrated IP tracking platform for the cannabis industry, announced the implementation of several significant product updates to its core technology, aimed at driving usability, performance and adoption.

BLOCKStrain Technology Corp. (CNW Group/BLOCKStrain Technology Corp.)

"Product improvements across all verticals are aimed at improving the user experience, providing ever greater functionality to ensure quality control and accuracy at every stage - from seed to product shelf and beyond," stated BLOCKStrain Chief Executive Officer, Robert Galarza. "We're excited about the deployment of these developments and believe they will engender loyalty with all of our user groups."

For consumers, the Company has created a dynamic test results scan page to provide consumers with integral product-specific details. With this improved functionality, consumers can quickly scan the label of a product and assess the quality and contents of 'BLOCKStrain Certified' products in real-time. This feature was recently unveiled in conjunction with BLOCKStrain's entry into a letter of intent with NXT Water, LLC, with respect to the integration of BLOCKStrain's technology into the development and launch of NXT's new benchmark brand, AKESO Functional Fitness Water.

Many of the new enhancements to the Company's software suite will also improve functionality for distributors. For example, genetic verification using dual QR codes allows for rapid scan co-validation between individual product brands and a specific product type. Testing management, analytics and reporting dashboards have also been re-designed to help producers and distributors track volume of product and how many consumers are accessing testing data, and to provide views into other important retail data.

Real-time technical and customer support has been built into all platforms with an internal ticketing system, which ties emails and notifications to BLOCKStrain's customer service center to ensure a prompt response to any issues or concerns.

BLOCKStrain's product development team has also created enhancements intended to appeal to larger, multi-location companies. Infrastructure and user-experience enhancements are expected to give customers the flexibility to better manage testing data across all accounts in multiple locations. The software suite and document enhancements enable users to create and secure a wider range of access to their own internal documents -- stored and accessed from any location at any time.

Cultivators & Producers:

For both growers and licensed producers of cannabis, new product enhancements are expected to offer greater usability to track and manage products from seed to sale. Key improvements include:

  • Genetic verification using dynamic QR codes for rapid scan validation
  • Testing management dashboard
  • Analytics and reporting dashboard
  • Real-time technical and customer support built into the platform, with internal ticketing system tied to emails and notifications
  • Genetics overview (Master Report)
  • Multi-company, multi-location account management
  • Document enhancements (private/public document types allowed)
  • Product details page with enhanced features & fields
  • Batch summary report to scan application with draft functionality and a PDF writer for clean batch documentation
  • StrainVault™ Integration: publishing to allow customers to publicly announce that their products are genetically verified
  • Secure blockchain with visualization console


Laboratories:

New product updates were completed to provide labs with all of the new tools to manage their orders, billing, documentation and reporting. This new functionality is expected to allow BLOCKStrain to accept tests and publish lab results in real time. Key improvements include:  

  • Management dashboard
  • Real-time technical and customer support built into the platform, with internal ticketing system tied to emails and notifications
  • Multi-laboratory, multi-location account management
  • Document enhancements (private/public document types allowed)
  • Laboratory profile and management console: page for laboratory information
  • Invoice and laboratory submission automation: streamlined lab test orders for rapid test entry


Distributors:

Product enhancements for distributors are expected to improve tracking efficiencies, provide data insights and ensure accuracy. Key improvements include:

  • Genetic verification using dynamic QR code for rapid scan validation
  • Real-time technical and customer support built into the platform, with internal ticketing system tied to emails and notifications
  • Multi-company, multi-location account management
  • Document enhancements (private/public document types allowed)
  • Secure hyperledger blockchain with visualization console


About BLOCKStrain:

BLOCKStrain has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. BLOCKStrain's technology allows cannabis growers and breeders to identify and secure rights to their intellectual property and also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. BLOCKStrain's technology is proprietary, immutable and cryptographically secure, thereby establishing a single-source, accurate, validated and permanent account for cannabis strains from ownership to market.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the Company's future business plans. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to: the expected benefits of, and impact on, the cannabis industry as a result of BLOCKStrain's technology; and the expected benefits of BLOCKStrain's product updates and enhancements for users and its software suite. Such statements are based on management's current assumptions with respect to the regulatory environment for cannabis, the expected applications and users of BLOCKStrain's technology; and other factors, and are subject to various risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including that: BLOCKStrain's platform may not operate as expected; the cannabis industry may not adopt the BLOCKStrain platform to the level expected; legislative changes may occur that negatively impact BLOCKStrain's business; BLOCKStrain's platform may not adequately protect users' intellectual property; and other factors beyond the Company's control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. The forward-looking statements in this news release are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

SOURCE BLOCKStrain Technology Corp.


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