United Parcel Service Inc (NYSE:UPS) is looking for a new way to keep track of its global shipments. The shipping giant filed a patent with the US Patent and Trademark Office for a blockchain-based package tracker that would utilize a distributed ledger network, as per a CoinDesk report.
The company delivers 20 million packages and documents per day, adding up to 5.1 billion in global delivery volume in 2017. Last year, UPS joined the Blockchain in Trucking Alliance, a transportation-focused blockchain group.
In cryptocurrency news, the US Securities and Exchange Commission will make its latest decision on a Bitcoin-based exchange-traded fund. The regulator will make a decision on the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF by Thursday, as per a CoinDesk report.
The ProShares ETF proposal was submitted last December. The ETF is backed by bitcoin futures contracts instead of physical holdings of Bitcoin. While the SEC has previously delayed a similar decision for the VanEck and SolidX Bitcoin ETF, this decision can no longer be delayed per the SECâ€™s own rules.
Two Canadian cannabis companies are joining forces to break into the cannabis-infused beverage market. WeedMD Inc (CVE:WMD) and Phivida Holdings Inc (CSE: VIDA) have inked a joint venture agreement to launch CanBev.
As per the agreement, WeedMD will be the exclusive supplier of cannabinoid extracts to be used in the beverages. The products are expected to be available in retail locations as well as online in Canada by late 2019.
In other Canadian cannabis news, Liberty Leaf Holdings Ltd (CSE:LIB, OTCQB:LIBFF) has announced the results of a recent CBD study. Led by ESEV Research Development, the study looked into the effects of CBD-infused products on dogs with chronic osteoarthritic pain.
In a randomized placebo-controlled clinical trial, large mixed-breed dogs received a daily dose of 0.3mg/kg of CBD-infused oil. Of the 16 dogs includes in the study, all but one dog was said to benefit from the treatment. There were no adverse reactions or side effects reported by the dogsâ€™ owners.
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