New Joint Venture Executed to Escalate Industrial Hemp Industry as a Sustainable Solution in North America
Vancouver, British Columbia, Canada, October 11, 2022 – Global Compliance Applications Corp. ("GCAC" or the "Company") (CSE: APP, FSE: 2FA, OTCQB: FUAPF), announces a strategic partnership with ThingBlu Inc., a Washington state-based business with a SaaS agriculture business intelligence solution and B&M Products and Services LLP, an Indiana state company that has contracts with a network of industrial hemp growers and processors. By partnering with B&M, GCAC and ThingBlu's current integrated Business Intelligence-blockchain offering  is now available to all in the U.S hemp industry in an affordable SaaS offering.
The recent approval of industrial hemp products, such as hempcrete , showcases the growing value of the hemp plant for things such as animal bedding, insulation, textiles, bioplastics and biofuel. North America's industrial hemp market is anticipated to reach USD 87.5 million by 2027. It is expected to grow at a CAGR of 7.5%, per Global Market Insights. In addition, the use of blockchain technology in the global agriculture and food supply chain is growing exponentially yearly. As a result, it will reach USD 359.08 million by 2027.
Marla Rivera, Owner of B&M Products & Services, states, “We can now help our network of farmers & processors avoid the missteps we saw in the 2018 hemp rush. Our goal is to deliver high-quality industrial hemp in high volume to predictable, transparent, high-quality markets. We also recognize our program needs to support other diverse commodities for inclusion for every farmer. This partnership ensures the next generation of growers can deliver products that will make a long-term sustainable impact".
Kevin Gorman, CEO of ThingBlu, commented, "As a person that grew up farming, I know agriculture runs on very tight margins. With the industrial hemp market ramping up, ThingBlu’s SaaS software analysis of collected workflow and sensor data can play a huge part in a hemp farm's viability. On the blockchain, it's unbeatable.”
Bradley Moore, CEO of GCAC, said, “As we have said, the Efixii blockchain is a powerful tool in connecting people who grow products with consumers. A smartphone, Efixii dApp and QR code can change a business overnight; all are offered as affordable BaaS solutions. B&M, ThingBlu and GCAC, are here to help."
ThingBlu facilitates and manages the collection and analysis of data inputs for ag operations so the farmers can focus on what needs to be done. From workflow management to sensor input on a unified dashboard, data is collected and presented as information for decision-making based upon data. A platform that integrates with existing systems and drives operational efficiencies while promoting good governance of both natural and human systems.
Workflow Management gives the grower the power to assign, monitor, and manage all daily tasks. The creation of best business practices and clearer operational visibility provide greater agility for making data-informed decisions. Employees are more engaged and more efficient, reducing turnover. Tasks are monitored in real-time, from any location, to ensure they are performed according to set SOPs and in an efficient manner. More info at thingblu.com
GCAC is a global leader in designing and developing innovative blockchain technologies and machine learning solutions to improve real-world businesses. GCAC's leading solution is Efixii, an Ethereum Layer 2 blockchain and EVM programming functionality that is on par with other Layer-2's, such as Polygon. GCAC can quickly connect each participant from product producers, distributors, manufacturers and retailers through a series of value chain dApps that allows for data connectivity to drive better consumer experiences and sales. GCAC created clearESG to assist businesses in communicating their sustainability goals and earned attributes on the blockchain through a series of ESG (Environmental, Social & Governance) merit badges. As an interconnected supply chain solution, the Efixii solution pays tokens for attesting to a product's value, or truthness, through a reward program. GCAC works in many agricultural industries providing a value-added blockchain offering through a cost-effective SaaS licensing model.
This news release may include forward-looking information within the meaning of Canadian securities legislation concerning the business of GCAC. Forward-looking information is based on certain key expectations and assumptions made by the management of GCAC. Although management of the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because GCAC can give no assurance that they will prove to be correct. Forward-looking statements contained in this news release are made as of the date of this news release. GCAC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.