In the legalized cannabis, hemp, and CBD industry, professionals in every area of the supply chain have good reasons not to trust one another. Although there are requirements in place to prevent misleading or fraudulent claims in product messaging, there is a significant lack of adherence to regulatory measures and responsible business practices.
Qredible® is the only digital registry and network of verified and validated manufacturers, merchants, distributors, labs, banks, and ancillary businesses. But why should you trust us?
Qredible’s mission is to provide an accessible digital registry and platform for increasing transparency in this rapidly evolving industry. Using advanced technologies that protect businesses and consumers, we aim to create an ecosystem based on mutual trust that allows businesses engaging in safe commerce to thrive.
Still, the industry is beginning from a state of reactivity and distrust. It seems as though companies are caught both mistakenly and knowingly defying regulations on a daily basis. So, how can you be confident that Qredible is trustworthy?
This article will explore how Qredible was designed to address and resolve the concerns of various professionals in the legalized cannabis, hemp, and CBD supply chain. Keep reading to learn why you should trust Qredible.
Qredible®: Supporting Trusted Organizations
To start, Qredible is not a regulatory body, certifying organization, or compliance enforcement initiative such as the U.S. Hemp Authority, The Food and Drug Administration or a USDA Organic accredited audit agent.
Qredible is a digital registry and sophisticated support system that validates and verifies critical information about a company, its practices, and its products.
Qredible starts with the validation of critical industry license data and various quality certifications. For example, if a company claims that they have received a quality certification such as an ISO 9001 Certification or a quality designation from the U.S. Hemp Authority, Qredible validates and verifies this with the accredited source of truth. It provides a digital smart contract ID and locks it down in its blockchain registry.
Qredible will also provide critical automated tools and data connections to key information sources to enable additional quality monitoring and research. This will enable full transparency and awareness of violative language in multiple forms of digital marketing.
These tools include:
- Automated compliance monitoring and proactive audits to identify potential violative language and false claims
- Reminders about expiry and recertification dates
- Reputation monitoring and management
- Validated, immutable documentation including lab reports, certifications, registrations, and licenses
- The ability to access curated news and industry-specific research, resources, and analytics
In this way, Qredible’s mission is to cultivate an industry that functions as a thriving ecosystem, where brands, manufacturers, companies, and consumers trust and respect one another, resulting in safer commerce for all.
Certifying organizations, regulatory bodies, and compliance enforcement organizations are a critical part of that ecosystem. As such, Qredible works to increase trust in seals and certifications by preventing misleading or fraudulent claims.
Protect and Grow Your Business in Qredible®
Qredible provides businesses in all areas of the supply chain with the support to overcome the unique challenges facing their sectors. Regardless of what role your business fills, Qredible has solutions designed for you.
Why Should Manufacturers and Distributors be in Qredible®?
There are many benefits for suppliers of legalized cannabis, hemp, and CBD products who are in Qredible.
The most urgent concern is the significant compliance and litigation risks that come as a result of the current state of the industry. Altered COAs, lab reports, and other documentation can inflict serious damage on a manufacturer or distributor.
In Q-Trust™, members will gain access to a network of verified growers, nurseries, and handlers whose documentation has been verified and validated using advanced technology. The Q-Vault™ ensures all documentation is immutable, meaning suppliers no longer need to worry about altered COAs and lab reports.
In addition to more transparent sourcing processes, Qredible enables manufacturers and distributors to differentiate themselves. Because of the current lack of visibility in the industry, it is nearly impossible to prove and differentiate a product’s quality. In Q-Trust™, suppliers gain access to verification and validation services that set them apart from other companies and build consumer trust.
Finally, Qredible offers suppliers unique opportunities to gain insight into what their customers are saying about them. This, along with Q-Trust™ market research features, allows them to unlock information about their reputation as well as insights into their audience demographic.
As a result of being in Qredible, manufacturers and distributors are better equipped to develop successful marketing strategies, build professional relationships with industry partners they trust, and gain a competitive edge in the marketplace. This means reduced risk, improved reputation, increased visibility, and higher revenues.
Why Should Merchants be in Qredible®?
Consumer trust is paramount in the digital age. These days, merchants must answer directly to consumers who are more informed than ever. As Qredible begins to establish increased transparency in the legalized cannabis, hemp, and CBD industry, consumer demand will adjust to accommodate the availability of more trustworthy brands and products.
In order to provide consumers with the best experience possible, merchants must establish trust by ensuring the brands they stock are transparent about the quality of their products. Qredible provides merchants access to resources for verifying their manufacturers and distributors in order to provide their customers with a high-quality selection that will differentiate them from competitors.
In addition to maintaining a solid reputation among customers, merchants must also establish and maintain trust with financial institutions, including banks and insurance agencies. Financial institutions are required to follow strict compliance regulations and will pull away from a merchant who is involved in any potentially illegal or non-compliant operations, whether or not the noncompliance was intentional. Losing your merchant account suddenly or primary bank relationship is disruptive and could cause significant harm to a merchant’s business.
Through Q-Trust™ active monitoring, merchants will be notified of events that could have a negative impact on their business and brand, providing peace of mind and confidence in the level of trustworthiness of their suppliers and ancillary partners.
The presence of companies in Qredible will establish more trust with customers, resulting in an improved reputation that will lead to increased sales and revenue.
Why Should Labs be in Qredible®?
The falsification or doctoring of lab reports and COAs creates significant liability for labs involved in the testing of legalized cannabis, CBD, and hemp products. In the case that a document is altered, the burden of proof will fall on them to demonstrate that they did not commit fraud.
As a result of the lack of validation in the industry as it stands, there is a growing need for labs to prove the security and quality of their certifications.
The Q-Vault™ provides a blockchain-powered solution that renders all documents produced by a lab immutable and secure, eliminating the legal risk for the lab and anyone basing claims on information in lab documents.
A Q-Verified Lab in Qredible builds a reputation synonymous with transparency and excellence. Q-Verified Labs provide a direct source of data integration into the laboratory information systems (LIMS) to enable direct integrity of data comprising the certificates of analysis. As such, the quality of their documentation cannot be compromised, allowing them to differentiate from competitors and enjoy legal protection, risk management, and conflict mitigation.
Qredible®: Cultivating Trust in the Legalized Cannabis, Hemp, and CBD Industry
By providing benefits for businesses in all areas of the supply chain, Qredible is working to foster a symbiotic community and ecosystem of quality and credibility based on mutual trust. A place where merchants, distributors, retailers, financial institutions, labs, and consumers can all engage in safe commerce.
Qredible is the only digital registry of verified and validated legalized cannabis, hemp, and CBD brands. Want to be in Qredible? Get started today.