CeBioLabs officially Launches First Product “Lab-Authenticity.org”
We are pleased to announce that we have officially launched our platform Lab-Authenticity.org. After months of development work and graphical preparation we have now launched the first CeBioLabs project. The entire project is a complete in-house development and will address the cannabis, CBD, food and pharmaceutical markets.
What is Lab-Authenticity.org?
Lab-Authenticity is the world’s first platform to secure and store lab analysis and certificates of analysis on the blockchain. According to research, over 30 percent of all CBD and cannabis lab analyses available online are falsified, modified or altered. This means that providers are altering lab results for commercial reasons or reusing old results with a new date. However, this has a negative impact on the price and can also lead to health risks, especially in the field of food. In this area, the issue is already known as “food fraud”.
CeBioLabs offers a unique platform for providers to secure their laboratory analyses immutably, transparently and decentrally in the blockchain and to communicate this with customers or business partners. To ensure the originality of the analysis documents, Lab-Authenticity.org does not receive the analyses from the clients themselves, but from the laboratories that performed the analyses. Thus, Lab-Authenticity.org stores only original documents in the blockchain.
How is the CBSL Token integrated?
The CBSL token is the main component of CeBioLabs and all current and future projects of our company. The CBSL token is also integrated into Lab-Authenticity.org. The companies that want to use our services have to pay a fee of $9.95 per analysis certificate stored in the blockchain. This fee can be paid in the form of CBSL tokens. As companies are currently often forced to pay with fiat currencies and require invoices, we have also integrated credit card and Paypal payment options into the platform. However, we will use these payments directly to buy back CBSL tokens after deducting fees and taxes. All information on how many tokens will be repurchased will be published regularly by Lab-Authenticity.org.
What can we expect in the long term?
We already have numerous active partnerships and many companies who are interested in using our service soon. As Lab-Authenticity.org is focused on the CBD and cannabis sectors, we will have a large user base in the coming months and years, as the CBD market is still poorly regulated. But there is also immense demand in the food and pharmaceutical sectors due to their market size. Through collaboration with our partners, our network built over the last 5 years, and our membership in the German Hemp Association, we aim to target several thousand and tens of thousands of customers in the coming months and years. We want to become a permanent fixture in these markets and be a “must-have” component for all businesses. The CBSL token will have a positive impact on these efforts, as we have implemented it as the only active and practical payment method in the project.