- No Borders Inc. launches CBD LabChain blockchain platform aimed at testing market
- Global cannabis testing market projected to grow at CAGR of 13.2%, surpass $1.5 billion by 2026
- NBDR announces $3 million Reg A offering qualification
Laboratory CBD- and THC-concentration test results for retail CBD products are now on the blockchain, thanks to No Borders Inc. (OTC: NBDR). The company announced it had successfully developed and deployed a revolutionary platform for securely and immutably recording cannabinoid lab test data on its new blockchain based certification platform. The platform – CBD LabChain – was launched in November 2019 at Blockchain Expo 2019, gaining immediate exposure to a wide audience of industry leaders and professionals. No Borders, through its subsidiary No Borders Naturals, is currently the only company in the world to record 100% of its third-party, CBD lab tests on a blockchain-secured platform (http://ibn.fm/9iEwy).
The CBD LabChain platform was built to respond to two crucial consumer concerns: that consumption of a CBD product produces a positive result in an employment drug test and the uncertainty that CBD products contain their stated amount of the cannabinoid. The CBD LabChain platform was developed after extensive research and customer trials as teams from No Borders Naturals traveled coast to coast, sharing the company’s premium line of cannabinoid wellness products with more than 25,000 consumers and then assessing the results.
The CBD LabChain platform records and stores tetrahydrocannabinol (THC), cannabidiol (CBD) and other lab test data variants and make those results easily accessible via QR code and batch number linkage. Additionally, products that use CBD LabChain are offered a “Results Guaranteed with Blockchain” icon that can be directly integrated into individual product labels.
No Borders Labs, another subsidiary of No Borders Inc., believes this innovation makes CBD LabChain a powerful consumer trust tool to help overcome consumer fears and provide a clear sense of security regarding product authenticity, efficacy and potency. The company is actively working with its existing supply chain partners and third-party, lab-testing facilities to offer the trust, security and transparency of the CBD LabChain Certification to other CBD brands, extraction facilities and wholesalers around the world.
As the CBD industry matures, certification is expected to play an increasingly important role. Mounting pressure is expected from consumers and regulators to ensure that products meet safety standards and are not packaged or advertised in a misleading way. Certification and the testing that goes with it can signal product quality. As one industry commentator has remarked (http://ibn.fm/CQHAo), “Testing isn’t just out there because it’s the rules. It adds value to a business.”
As a result, the CBD-testing and certification market is forecast to grow by leaps and bounds. One industry analyst estimates the global cannabis testing market to have been $926.3 million in 2017 and projects it to surpass $1.5 billion by 2026, exhibiting a CAGR of 13.2% over the forecast period (2018-2026) (http://ibn.fm/Lp8DV).
In other company news, No Borders announced it had successfully received qualification of its Reg A offering with the SEC to raise up to $3 million. The company has filed state registrations in Colorado, Florida and New York, with several investment groups signing LOIs for partial, full or syndicated participation in the offering (http://ibn.fm/bLBw4).
No Borders Inc. is a multifaceted corporation specializing in technology, acquisitions and distribution of commercial and consumer products with a focus on reducing costs through a lean-operation business model while increasing revenue and shareholder value through technological superiority across its portfolio of assets.
Presently, No Borders has five active subsidiaries: No Borders Naturals Inc., a purveyor of health and wellness products; No Borders Dental Resources Inc., a provider of equipment and supplies to medical and dental professionals, which trades under the name MediDent Supplies; No Borders Labs Inc., which provides leading-edge tech tools to NBDR internal companies while also offering consulting, architecture and software-development services to external businesses; No Borders Funding, which provides capital and strategic funding options for No Borders group companies; and No Borders Education Inc., a provider of staff training and educational tools.
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