Mr. Bradley Moore reports
GCAC STRENGTHENS ITS MEDICAL CANNABIS EFFICACY PLATFORM WITH PURITY-IQ BIOTECHNOLOGY TO ADDRESS A $4.1 BILLION MARKET OPPORTUNITY
Global Cannabis Applications Corp. has signed a memorandum of understanding with Purity-IQ Inc. of Canada to integrate the Purity-IQ cannabis authenticity and purity standard (CAPS) and its Fingerprint technology with the Global Cannabis efficacy platform; with a focus on the Canadian medical cannabis and adult-use markets, which are forecast to grow to $4.1-billion in 2021.
Following on from its TraceLocker announcement on Sept. 3, Global Cannabis is attracting key players in the Canadian medical cannabis space. The company's MOU with Purity-IQ is a significant endorsement of the Global Cannabis blockchain compliance and medical efficacy data collection platform. The proposed co-operation integrates Global Cannabis's efficacy data with Purity-IQ's CAPS Fingerprint service, a unique genetic and chemical profile of cannabis cultivars.
Global Cannabis's blockchain medical efficacy smart phone app immutably links a specific Purity-IQ CAPS Fingerprint cultivar directly to a consumer's anonymous efficacy attestations. This is set to revolutionize the traceability of cannabis efficacy and bring it more in line with formal medical-trial information that a traditional dispensing pharmacist would be able to reference.
Purity-IQ can uniquely identify a cultivar based on a metabolite profile using nuclear magnetic resonance (NMR) and DNA chip bioinformatics. The intent is for Purity-IQ Fingerprints to be referenced by
Global Cannabis's efficacy platform to verify batch-to-batch consistency in medical cannabis efficacy programs.
Global Cannabis's chief executive officer, Brad Moore: "I have no doubt that our smart phone efficacy data platform is an industry leader for cannabis. Bringing the Purity-IQ scientific fingerprinting of cannabis cultivars, to which our consumers will report their efficacy, really builds a picture of what works for a consumer and what doesn't. This is where medical cannabis needs to get to and we're bringing it there."
Mr. Moore continued: "With our blockchain truths and efficacy, data sets, medical practitioners, pharmacists, cultivators and processors gain efficacy data previously only found in formal drug trials. We change that and bring the wisdom of the crowd to bear for medical cannabis efficacy."
Under the agreement, Global Cannabis contributions regarding efficacy are the intellectual property of Global Cannabis. Securing Global Cannabis's IP creates an inherent difficulty in replicating, or directly competing with, Global Cannabis's medical cannabis solutions, and this is what the company believes makes Global Cannabis one of the most exciting efficacy platforms in the cannabis and regulation technology space.
About Global Cannabis Applications Corp.
Global Cannabis is a global leader in designing, developing, marketing and acquiring innovative data technologies for the medical cannabis industry. The Citizen Green platform is the world's first end-to-end -- from patient to regulator -- medical cannabis data solution. It uses six core technologies: mobile applications, artificial intelligence, regtech, smart databases, blockchain and Global Cannabis smart rewards to qualify candidates for clinical studies. These technologies facilitate the proliferation of digital conversations by like-minded people in the medical cannabis community. Driven by digital and cannabis industry experts, Global Cannabis is focused on viral global expansion by providing the best digital experience in the cannabis market.
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