The future ‘Big Data’ of medical marijuana
A keynote speaker at this year’s 7th Annual InvestorIntel Summit, Global Cannabis Applications Corp. (CSE: APP | OTCQB: FUAPF) (“GCAC”) looks set to become a major data player in the medicinal marijuana industry with its AI & blockchain-based Green Citizen technology. Basic dried plant or simple extracts still dominate the market, but the high-tech solution promises to streamline the regulatory process, potentially enabling the manufacture of a whole new generation of medical cannabis products.
As is the norm, lengthy prohibition ensured a research void that left policymakers with very little to go on, creating particularly slow and inefficient state involvement. The length of time required to complete clinical studies and generate data in order to green-light a product is unreasonable, and GCAC has spotted that today’s expanding market is desperate for a supply of clinical data to accelerate the development of new products.
The Green Citizen system takes observational data via a series of mobile applications that reward individuals with digital tokens for sharing information. An AI then agglomerates this anecdotal data and outputs it to a clinical standard. Actual clinical studies, patient surveys and product information are also collected by the AI, resulting in a verified and trustworthy database that can provide better patient outcomes and qualify potential clinical study participants.
GCAC’s range of apps are a solid investment case on their own, but the fact that everything works together to create the most extensive medical cannabis database on Earth is something to be applauded. The tokens earned are deposited in an e-wallet and are redeemable for CannaProducts in medical cannabis programs globally, providing good motivation for the right people to complete clinical surveys.
This is essentially the point. Like when Just-Eat conquered the takeout market, companies that can insert themselves into the operations of every industry participant stand to win big. A good industry-wide product that genuinely adds value almost always provides fantastic returns for shareholders. Add to this that many analysts expect the legal cannabis market to grow at a 21% CAGR over the next five years, and GCAC seems to have significant potential.
The company is active, too. In April, a collaboration agreement was signed with the Foundation of Cannabis Unified Standards (“FOCUS”) to establish legal cannabis programs in emerging markets and increase the supply of patient efficacy data with the ultimate goal of improving health and safety.
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Just over a week prior, GCAC signed an MoU with One System One Solution to combine resources to establish the infrastructure, technology and services required to create a sustainable supply chain and ecosystem for the cannabis industry; effectively a complete solution for cultivators, distributors, medical patients, practitioners and regulators.
It should be no surprise that investors have been keen. GCAC stock is up 175% over the last twelve months and more than 40% in the last three weeks alone. The unification of blockchain, cryptocurrencies, artificial intelligence and cannabis into a single offering is so on-trend it makes my eyes water. As more time passes since the bitcoin bubble, people are remembering why they got excited in the first place, especially as real-world applications come to market.
In my opinion, GCAC have the right idea. The future is data, and the challenge is collecting it. Finding ingenious ways to engage users honestly and for the long-term is critical to the generation of clinical standard data; the crypto reward system that powers the Green Citizen network is a great engagement tool, and combined with the AI-based computation, represents a thoroughly modern and game-changing database solution.