Global Cannabis talks readiness to license 3T service
2020-08-12 06:43 ET - News Release
Mr. Bradley Moore reports
GCAC ANNOUNCES EXPANSION OF THE CITIZEN GREEN PLATFORM WITH NEW 3T ("TRACK-TRACE-TREAT") DATA SERVICE FOR MEDICAL CANNABIS GROWERS
Global Cannabis Applications Corp. is ready to commercially license its new 3T (track-trace-treat) data service following the signing of a sublicensing and integration memorandum of understanding with TraceLocker, an Ethereum blockchain compliance platform for medical cannabis growers and importers.
Licensing the Global Cannabis Applications's 3T data acquisition service opens immediate revenue opportunities for the company, starting from the earliest phase of a medical cannabis grower's journey. Following Global Cannabis Applications's successful test the waters campaign with actual growers, the 3T service offering was finalized and the company stands ready to offer 3T to the nascent medical cannabis industry.
Cannabis contains approximately 60 pharmacologically active compounds (cannabinoids) and it is the ratio in botanical and pharmaceutical preparations determines therapeutic versus psychoactive effects. Global Cannabis Applications's 3T immutably records every step in a plants life cycle prior to being administered as a treatment. It is this level of traceability that growers, practitioners and consumers require in order to accurately measure efficacy and to ensure product consistency.
Global Cannabis Applications's Citizen Green and TraceLocker blockchain data sets combine to identify the most efficient treatment per ailment per consumer inside the Global Cannabis Applications Prescriptii patient care solution.
"Based on our gap analysis, we identified an unmet demand for a turnkey, grower-aligned, track-trace-treat service. Expanding the Citizen Green suite by capturing data from the initial seed-planting phase adds significantly more firepower to GCAC's commercial data aggregation strategy. Secure storage of multiple cannabis data points on a blockchain is well documented in our patent filed December, 2019, and TraceLocker's Ethereum blockchain framework aligns perfectly with our vision," stated Brad Moore, Global Cannabis Applications's chief executive officer. "Per our recently released corporate communications presentation, early connectivity with growers is critical for GCAC's ownership of data through the medical cannabis value chain. This not only creates growth through sales of that data but also by providing those cannabis data sets to regulators to make informed, legal decisions about the importation and usage of medical cannabis as a treatment."
The parties agree to act in goodwill and, due to the complex nature of blockchain integration, agree to provide clear timelines for Global Cannabis Applications branding, technology deployments and grower support. Additionally, the parties jointly agree to participate in future commercial expansion strategies, further technical integration, testing, rollout and support. The new 3T solution will be Global Cannabis Applications branded and offered as part of the Citizen Green suite of technologies.
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.
