TruTag Technologies and Tag-it Tech Partner on Cannabis Traceability Platform
SEATTLE, WASHINGTON ─ May 8, 2018 — TruTag Technologies, a leader in product authentication and brand security solutions, today announced a partnership with Tag-it Tech, Inc., a Seattle, Washington-based technology firm, to bring safety, security and traceability to the North American cannabis market.
The illicit trade and unauthorized diversion of legal marijuana products is jeopardizing consumer safety and costing states hundreds of millions of dollars in lost revenue.
The alliance couples TruTag’s “edible barcode” technology platform with Tag-it Tech’s blockchain-based tracking system. The combined platform offers regulators and producers unparalleled visibility, auditability and a means of safeguarding the cannabis supply chain.
“Blockchain innovation offers producers, regulators and dispensers a novel means of information-sharing in the supply chain. However, blockchain systems still require a secure link between the physical and digital world”, said Paul Schutt, Chief Executive Officer and co-founder of Tag-it Tech. “TruTag’s micro-taggant technology is perfect in this respect – providing a covert means of directly tagging cannabis products and their edible derivatives”.
“We are delighted to collaborate with Tag-it Tech on this initiative in a growing industry where supply chain control and regulatory compliance are critical,” said Michael Bartholomeusz, Chief Executive Officer of TruTag Technologies. “Tag-it Tech brings technological innovation, sector experience and a shared vision for creating a trusted supply chain.”
About TruTag Technologies, Inc.
TruTag Technologies, Inc. is a leading security and technology solution provider serving businesses and governments around the world. TruTag has the most advanced precision-fabricated, cGMP nano-porous silica manufacturing operation in the world for a variety of applications and security solutions, including product identity for food, medicine, secure labels and documents. The company’s highly-specialized nano-porous silica particles extend to precision drug delivery systems for the biopharmaceutical industry. TruTag’s nano-fabrication technology platform is complemented by its advanced hyperspectral imaging solutions, which can be applied to a broad array of market applications from medical diagnostics to machine vision.
TruTag Technologies has been recognized by the SPIE Prism Awards, the Edison Awards, Fast Company, R&D 100, and was selected a Technology Pioneer by the World Economic Forum as one of the most influential technology companies in the world. Learn more at www.TruTags.com.
©2018 All rights reserved. TRUTAG and TRUTAGS are registered trademarks of TruTag Technologies, Inc.
About Tag-it Tech
Tag-it Tech, Inc. provides micro-taggant based product tracking systems to State agencies managing licensed Cannabis programs. Tag-It Tech’s revolutionary Natural Tracking System® (NTS®), powered by TruTag Technologies, is designed and developed to address costly illegal Cannabis diversions to the black market that are challenging the industry and jeopardizing public health and safety. The NTS® provides law enforcement agencies and licensees alike with safe and secure product authentication; brand security; Cannabis product tracking data intelligence; and enterprise management solutions. Most significantly, Tag-it Tech’s NTS® effectively controls illegal Cannabis product diversions and increases State revenues generated by licensed Cannabis programs.
Tag-it Tech, Inc.