Cannigistics Agri-Solutions, a subsidiary of Calyx Ventures (CYX.V), introduced its cannabis ‘message board’ app to third-party partners for testing today.
Named Leafnet, the app is like Slack for the cannabis industry. It’s not unlike its predecessor Beefnet, successfully rolled out for the beef industry in October, but with improvements and some added features.
Three of these features include:
- A fully integrated dashboard
- Both fixed and variable pricing
- Full market insight into remaining quantities
The program is analogous to a message board: users can go on and discuss issues related to the industry and make reputation inquiries in an online marketplace that updates in real time.
A future update will allow clients to see who in the industry is offering which product and when it will be available. Each LP can establish a set timeframe for how far the customer can see into their future supply.
It allows members of the industry to get together, share information and handle the logistics of supply in real time.
Its easy-to-grasp interface provides market information in real-time, while also providing one-click access to numerous LPs within the cannabis market.
Calyx says it wants to eliminate the requirement of logging onto a website. To achieve this, the company has made the software available on all major operating systems for mobile and desktop computers.
“As the cannabis landscape matures, the necessity for an independent, fluid marketplace is becoming increasingly more apparent. To this end, we are building an infrastructure which will allow for any current and future licensed producers, distributors and extractors to get their product to market quickly, efficiently and affordably,” said Roger Forde, CEO of Calyx.
The development of their wholesale and marketplace system was based on the proven and efficient model presently in service in the Canadian agricultural marketplace.
What’s new in this model’s customization is the framework Calyx uses to handle contracts and transactions, which uses a private distributed ledger.
“Blockchain technology is naturally suited to marketplace applications, so we feel that building the platform to include a private blockchain ledger will give it transparency with both market participants and regulatory authorities,” Forde said.
Forde said he feels the current market is lacking transaction verification and transparency, and that including a private blockchain ledger in the platform would fill that requirement, and therefore build that transparency between participants in the marketplace and regulatory authorities.
This provides an opportunity in the cannabis market for an injection of efficiency, liquidity and accountability, according to Forde.
Is it secure?
Calyx performs a gatekeeping function for Leafnet, controlling the rooms and shaping the audience, although they do allow for user-generated rooms.
Leafnet does all of its own vetting of LPs. The vetting process happens via applications or through invitations, with invitations receiving direct vetting and a personal communication to verify their interest.
“We monitor everything on the back end, so you’ll have to access it. We’re not going to make it available through a web app, it will have to be through a mobile app. We can monitor it in real time,” said Derek Rathbun, director of application development with Cannagistics.
Everything from what app is used to a visitor’s IP address–including both date and timestamp–is tracked. In the case of hackers using brute-force tactics to gain unauthorized access, they can see attempted success and failure rates right in real time from their dashboard.
Calyx expects to expand this formula to meet with any industry. Courtesy of its replicable formula, the application could theoretically be applied to anything with a B2B format.
“Giving users access to large product suppliers is a natural start, but we’re also working on a more inclusive marketplace for wholesalers, distributors, processors. Folks who want to re-sell, vape-pens and paraphernalia. One click access to any segment of the industry,” Rathbun said.
They’re intending on moving into ancillary services as well. Rathbun’s example was giving transporters access to the system in a secure room where they could get direct access to the marketplace they’re servicing.
This would allow them to see and respond to immediate demand without going through the traditional middle-man.
Full Disclosure: Calyx Ventures is an EquityGuru marketing client.