- The FDA has reiterated its position of not currently allowing the marketing of CBD by adding it to a food or labeling it as a dietary supplement
- Tight FDA requirements provide an opening for startups like No Borders, Inc., which leverages blockchain supply chain technology to ensure and confirm the quality of CBD products
- Sales of all legalized cannabis in the U.S. are projected to reach $41 billion in 2025, including $6 billion from hemp-derived CBD products.
- CBD product sales to consumers to reach an estimated $20 billion by 2024
There is no denying that cannabidiol (CBD) is a booming market if there ever was one. However, recent developments spearheaded by the Food and Drug Administration have led analysts to expect some consolidation in the market with a consumer focus on quality, the Wall Street Journal reports.
“Aside from one prescription drug approved to treat two pediatric epilepsy disorders, (CBD) products have not been approved by the FDA, and we want to be clear that a number of questions remain regarding CBD’s safety,” Amy Abernethy, principal deputy commissioner for the FDA, said in a statement quoted by the Wall Street Journal (http://ibn.fm/eQ9dS).
The FDA defines a drug as any product intended to treat a disease or have a therapeutic or medical use and any product (that is not a food) aimed at affecting the function or structure of the human or animal body according to the FD&C Act. The FDA hasn’t evaluated how a host of CBD products could interact with FDA-approved drugs, whether they are effective for their intended use, or what the right dosage would be.
As major brands ease up on cannabidiol research, startups see an opening. Companies like No Borders Inc. (OTC: NBDR) are uniquely positioned to use their expertise to improve margins. No Borders, Inc.’s patent pending CBD LabChain platform utilizes blockchain supply chain technology to better ensure and confirm the quality of CBD products, which has become more important than ever in light of the FDA’s new policies.
CBD LabChain’s patent pending platform records Certificate of Authority (COA) on a blockchain, making it an indispensible tool that gives CBD users a sense of security and peace of mind. Another wholly owned subsidiary of No Borders Inc., No Borders Labs, designed CBD LabChain to record THC, CBD and other lab test data and make results directly and easily accessible to consumers via QR code linkage. The “Results Certified with Blockchain” icon that is generated can be integrated directly into individual product labels. Additionally, No Borders subsidiary No Borders Naturals (http://ibn.fm/BSzdi) had the best in class line of CBD products that were shared with more than 30,000 medical professionals in 2019.
These achievements, paired with a strong commitment to top product quality, give No Borders a considerable competitive edge on the fast-growing cannabis and CBD markets. According to Nielsen data, sales of all legalized cannabis in the U.S. will continue to grow, reaching $41 billion by 2025. This includes $6 billion from hemp-derived CBD products (http://ibn.fm/JZfkN). A study by consumer packaged goods sales and marketing firm Acosta found 28 percent of CBD consumers used CBD products as-needed (19 percent) or on a daily basis (9 percent). CBD product sales are expected to reach $20 billion by 2024 (http://ibn.fm/VFCpV).
No Borders became prominent during the 2018 blockchain boom. The company chose to develop blockchain systems in house and has adopted a failsafe approach of acquire, test, scale, and repeat, by which it plans to scale throughout 2020. Today, No Borders is a multifaceted corporation specializing in the acquisition, creation, and scaling of commercial and consumer products by utilizing cutting-edge technologies to reduce costs while increasing revenues and shareholder value through technological superiority across its portfolio of assets.
The company has excellent prospects in and beyond 2020. Some of the company’s goals for 2020 include transitioning back into a fully SEC reporting company and uplisting to OTCQB. Its continued commitment to always keep shareholders up to speed on progress and only announce completed or finished projects/deals (http://ibn.fm/WdDlF).
For more information, visit the company’s website at www.NBDR.co
NOTE TO INVESTORS: The latest news and updates relating to NBDR are available in the company’s newsroom at http://ibn.fm/NBDR
