Harmonizing Nomenclature To Optimize The Global Cannabinoid Supply Chain

By Kellan Finney, Chief Scientific Officer of Eighth Revolution

The momentum supporting the cannabinoid revolution across the globe continues to build as legalities shift. In early November, four new states voted to legalize adult-use cannabis. In the beginning of December, the UN rescheduled cannabis as a Schedule IV drug, opening the door for accelerated growth in the medical cannabis space, and just last week, the House passed the MORE Act. As the domestic dominos continue to fall, their influence will span overseas as they continue to knock down outdated legislation to create room for new opportunities in the cannabinoid space. However, as the international cannabis market expands, scientists and manufacturers are realizing that the language barrier is only one of many potential communication roadblocks ahead. The fast-paced growth of the market allows more room for error, and ones based on miscommunication can have serious consequences.

In elementary school, this lesson could easily be taught with a simple game of Telephone. During this game, the same phrase or message can be interpreted and potentially misunderstood several times over, as the message is passed along from person to person. More often than not, you might understand one phrase differently than the person next to you, and the original message gets lost in translation. The cannabis industry has been playing a perpetual game of Telephone, constantly sending and receiving mixed messages, mostly due to the industry’s lackadaisical naming system for classifying hemp and cannabinoid products. In the United States alone, buyers and sellers are describing similar products with an array of names, creating inefficiencies within the greater market. The increasing number of derivative products emerging in the market, such as distillate, resin, rosin, diamonds, crystalline, or isolate add another layer of complexity. These inefficiencies at a domestic level will only be exacerbated when conducting business overseas. If we want cannabis and hemp derivatives to be traded as a global agricultural commodity, the time is now or never to establish a global …

Full story available on Benzinga.com

More Harmonizing Nomenclature To Optimize The Global Cannabinoid Supply Chain