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Be the first with the news that moves the market- Graph Blockchain’s (CSE:GBLC) previously announced e-commerce wellness platform, BluStem, is late to launch due to backlog delays
- Despite the company’s plans to launch the platform in early June, BluStem’s Shopify Plus account still remains pending
- The delay is the result of an application backlog on Shopify, as more companies seek to sell health-related products online
- In the meantime, Graph Blockchain has decided to activate BluStem on the standard Shopify platform, while awaiting Shopify Plus approval
- Graph Blockchain (GBLC) remains unchanged and is currently trading at three cents per share
Graph Blockchain’s (CSE:GBLC) previously announced e-commerce wellness platform, BluStem, is late to launch due to backlog delays.
The company first introduced the platform in an announcement on May 25, 2020. BluStem is an online marketplace for wellness products, including personal protective equipment (PPE), cannabis, and psychedelics.
At the time, Graph Blockchain stated that it expected to roll out the site on or around June 1, 2020. Unfortunately, the planned launch of BluStem has been delayed, thanks to a market-wide response to COVID-19.
BluStem’s Shopify Plus account, which will allow it to launch, is currently still pending. Shopify, an e-commerce company, has been swamped by a surge in applications from companies, creating an unexpected backlog.
The surge in applications came from numerous companies looking to sell PPE, and other products related to COVID-19, online. Since Shopify must review each application before granting approval, it has taken much longer to address BluStem’s account application.
Graph Blockchain’s CEO, Christian Scovenna, explained the reasons for the delay in gaining approval for BluStem.
“Shopify follows a diligent vetting process for all businesses, including the review of approval documentation from Health Canada and any other submitted paperwork to eliminate the risk of fraudulent sites.
“The unprecedented amount of applications has obviously caused a delay in this process, which has left our application pending.
“We are confident that we have fulfilled all of Shopify’s requirements and will provide an update as soon as we receive word regarding the timeline for the approval of the application,” he said.
While the company awaits approval to launch on Shopify Plus, it decided to activate BluStem on the standard Shopify platform. The company will remain non-transactional until it can launch on Shopify’s specialised Plus platform.
GGraph Blockchain (GBLC) remains unchanged and is currently trading at three cents per share at 2:19pm EDT.
