CBC Reports Challenges in Understanding Efficacy of Medical Cannabis Usage – Could this Stock be the Solution?
Medical Cannabis Users Describe Feeling Lost When It Comes to Dosages, But Innovative GCAC Software Might Help Make Getting It Right Easier.
Have you ever wondered how medical cannabis can provide accurate dosing and predictable effects? If you answered yes, you’re not alone.
Most products on the shelves come with a label that completely and accurately describes the contents. Medical cannabis, on the other hand, currently exists in a grey area. Labels provide potency ranges, but due to plant variations, it is difficult to provide exact details. And this presents a problem for medical cannabis users.
But one budding tech company may have the solution.
Global Cannabis Applications Corp. (CSE: APP, FSE: 2FA, OTCQB: FUAPF) provides an innovative software solution that tracks cannabis production from seed to sale, including details on the potency of a particular plant.
GCAC’s digital platform also allows end-users to leave feedback, which provides regulators, researchers, and doctors with essential data on the effects and efficacy of specific medical cannabis products.
Gaps in Medical Cannabis Product Testing
Medical cannabis has been legal in Canada for 20 years; however, research into its safety and medical efficacy has yet to catch up to its popularity.
One of the biggest challenges that medicinal cannabis users face is guidance on product dosages. For many people, it’s a prolonged process of trial and error, further complicated by the variable potency of the products they are using.
Unfortunately, there isn’t a lot of direction from physicians or cannabis professionals at this time simply because there is a profound lack of medical research. Until that changes, patients who could potentially benefit from medical cannabis treatments may be left in the dark, or worse, could reject proven medical treatments favouring unproven alternative medicine instead.
Recently, over 200 medical professionals penned an open letter to Health Canada asking for barriers preventing most medical cannabis research to be relaxed. At the heart of the problem is the inability of researchers to conduct clinical trials, which has severely limited Canadian medical cannabis research.
“More Trials” Are Not Easily Realized
When medical cannabis was approved for use in Canada in 2001, it wasn’t for an explicit medicine or treatment of a specific condition. Instead, a blanket approval was issued, allowing patients access to medical cannabis for treatment or terminal or chronic conditions.
However, while this legal battle was a win for medical cannabis users and producers, it created a situation where medical cannabis products are being marketed for various uses, many of which have little or no scientific evidence to back up claims.
As it stands now, medical cannabis must pass the same strict health and safety standards as any other food or agricultural products; however, these standards fall short of what is required for clinical trials.
GCAC’s cannabis tracking software may be able to help support approval for clinic research by providing increased transparency in the production and distribution of medical cannabis products.
New Solution: Blockchain-based Cannabis App
More research may take time and money, but GCAC’s technology could make evaluating the efficiency and safety of cannabis easier.
The innovative Ethereum blockchain-powered Citizen Green Efixii platform tackles one of the biggest challenges facing medical cannabis cultivators and users – the compliance, authenticity, tracking, and certification of medical cannabis products to ensure quality, consistency, and efficacy.
By nature, cannabis plants are highly variable. To support reliable patient outcomes, data on each plant’s production, from cultivation to consumption, should be readily available to medical professionals, regulators, and cultivators.
GCAC’s Citizen Green Efixii is the first of its kind software solution for the medical cannabis industry. For each stage of the growing and production process, the software enables data to be recorded, ensuring best practice growing, regulatory compliance, enhanced consumer confidence, and more effective patient treatment.
About Global Cannabis Applications Corp. “GCAC”
Global Cannabis Applications Corp. (CSE: APP, FSE: 2FA, OTCQB: FUAPF) is a global leader in designing, developing, SaaS licensing and acquiring innovative data technologies for the medical cannabis industry. The Citizen Green Efixii platform is the world’s first end-to-end medical cannabis data solution. It uses six core technologies: mobile applications, artificial intelligence, RegTech, smart databases, Ethereum blockchain and GCAC smart rewards.
The seed-to-sale technology provides transparency through chain-of-custody events, providing valuable medical cannabis efficacy data to consumers, regulators, and medical professionals.
GCAC’s Efixii platform is licensed as a SaaS (software-as-a-service) solution to cannabis industry insiders, including cultivators, labs, distributors, and retailers. Currently, they are one of only a hand full of medical cannabis efficacy data providers globally.
In April, the company announced they had entered into a 3-year licensing agreement with Herb Industries Ltd., a large medical cannabis cultivator based out of Malta. Production is expected to reach 44 million grams in 2022 and 66 million grams by 2023.
In May, GCAC completed a non-brokered private placement and confirmed the return of 13,636,363 shares, leaving the adjusted outstanding number of shares at 177,422,524.
With the latest actions, the company’s financials are looking very strong going.