GCAC Announces Expansion of the Citizen Green Platform with New 3T (“Track-Trace-Treat”) Data Service for Medical Cannabis Growers
Vancouver, British Columbia, Canada, August 12, 2020 – Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE: APP, FSE: 2FA, OTCQB: FUAPF), a leading developer of innovative data and AI technologies for the medical cannabis industry, announced that it is ready to commercially license its new 3T (“Track-Trace-Treat”) data service following the signing of a sub-licensing & integration Memorandum of Understanding with TraceLocker, an Ethereum blockchain compliance platform for medical cannabis growers and importers.
Licensing the GCAC’s 3T data-acquisition service opens immediate revenue opportunities for the Company; starting from the earliest phase of a medical cannabis growers’ journey. Following GCAC’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 vs psychoactive effects. GCAC’s 3T immutably records every step in a plants lifecycle 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.
CGAC’s Citizen Green and TraceLocker blockchain datasets combine to identify the most efficient treatment per ailment per consumer inside the CGAC Prescriptii patient care solution.
“Based on our gap-analysis, we identified an unmet demand for a turn-key, 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 Mr. Brad Moore, GCAC’s CEO “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 datasets 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 CGAC 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 CGAC branded and offered as part of the Citizen Green suite of technologies.