Anaheim, CA – January 30, 2018
– LiveWire Ergogenics, Inc. (OTC: LVVV) today announced that it will be using blockchain technology to create a completely secure system for cannabis compliance and dosage verification. The company, which focuses on research partnerships, product development, acquisition, and management of turnkey production facilities for cannabis-based products and services, will be applying blockchain’s decentralized ledger technology to its 7X Pure Cannabis Compliance and Dosage Verification System. Respected blockchain technology expert Leon Fleyshman has been named the Senior Advisor for this project.
LiveWire Ergogenics’ 7X Pure Cannabis Compliance and Dosage Verification System provides third party verification of cannabis material origin, potency, purity, dosage, labeling and more, and then secures each product with a digital identity and clearly identifiable chain of custody.
The use of blockchain technology will make the 7X Pure system completely secure, transparent and verifiable. LiveWire Ergogenics will be able to protect the confidentiality of growers’ and manufacturers’ intellectual property while providing retailers, consumers, government officials and others verification that the growers’ and manufacturers’ claims are true.
“On the blockchain every iteration of every piece of data automatically contains all prior iterations as well,” explains Mr. Fleyshman, “and every new data entry is immediately processed, confirmed and stored by numerous computers around the world. The result is a tamper-proof system that provides a reliability factor that just doesn’t exist with any other technology.”
The 7X Pure verification system, which is designed as a parallel service to the seed-to-sale data provided by marijuana tracking software, will help growers and manufacturers meet increasing compliance requirements related to logistics, quality and transparency. It will also provide a high level of assurance to everyone from end users to municipalities, who will be able to enter a lot code into a website to quickly confirm that a product’s claims regarding material origin, potency, purity, dosage and more have all been properly verified.
The 7X Pure system utilizing blockchain technology will also serve as the backbone for an open supply chain network, with data privacy built into the decentralized blockchain infrastructure.
“I can’t emphasize enough the importance of data privacy in this industry,” states Bill Hodson, CEO of LiveWire. “While ‘track and trace’ requirements are being driven by state and local agencies, trade partners in the cannabis industry are understandably protective of their proprietary grow techniques, the integrity of their marijuana strains, and other trade secrets. Marrying the security of blockchain technology with the many benefits of the 7X Pure verification system will therefore be a game-changer for the cannabis industry. Plus, manufacturers will appreciate the fact that they won’t have to learn new software, attend classes or click through endless PowerPoint presentations to participate!”
Leon Fleyshman, the project’s Senior Advisor, is CEO of The Code Corporation, a management consulting firm in Southern California. Mr. Fleyshman has extensive experience in various activities related to Cryptocurrency and the underlying technologies that drive the transformative potential of blockchain. He has also been a vocal advocate for expanding research into medical cannabis. As Senior Advisor, Mr. Fleyshman is responsible for the technical strategy, including determining the best way to make use of blockchain technology for the 7X Pure platform.
As part of the 7X Pure Cannabis Compliance and Dosage Verification System, LiveWire Ergogenics has set up its 7X Strain Vault. Growers can submit their strains to comply with step one of the seven-step verification process, which is “confirm identity.” To review the entire 7X Pure Cannabis Compliance and Dosage Verification process, please visit www.7XPure.com. For non-material updates, follow LiveWire Ergogenics on Twitter @livewireLVVV.
About LiveWire Ergogenics, Inc.
LiveWire Ergogenics, Inc. (LVVV) specializes in identifying and monetizing current and future trends in the health and wellness industry. The Company is currently focused on establishing research partnerships to explore the application of cannabinoid-based products to target specific ailments or conditions with large “sufferer” populations for human and veterinarian applications. This includes the cloning of cannabis strains to produce positive medicinal results, dosing verification of zero pesticide products for quality brands, and development and licensing of high-quality cannabinoid-based products and services. The team at LiveWire Ergogenics has a passion for research and is committed to generating and implementing innovative ideas and producing high-quality products that satisfy an increasing demand in this fast-growing industry.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, financial projections, statements regarding the plans and objectives of management for future operations, the development, regulatory approvals and commercialization of the Company’s products, or any of the Company’s other proposed products, systems or services.
Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and actual events may differ considerably. Factors that may cause actual results to differ materially from any projections may include, without limitation, the Company’s inability to obtain additional financing, delays in the development of its products, the impact of significant government regulation in the cannabis industry, existing or increased
competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company’s failure to implement the Company’s business plans or strategies. The Company assumes no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.
Toll free: 877-964-6463
LIVEWIRE ERGOGENICS INC.
1600 North Kraemer Blvd. Anaheim
CA 92806 714-740-5144