By the end of the year we expect our machine language database to grow to one of the largest repositories of medical cannabis data insights in the world. As member experiences are captured, machine learning and artificial intelligence produce insights which can then be used by the retailer to improve their patient care relationship.
The Citizen Green MarketPlace is where retailers can use CGCs for products and services. The CGC is a true utility cryptocurrency that uses a stable price model and is only available to registered Community members. Pricing has been set at $0.10 per coin and will be maintained by GCAC to keep our crypto-speculators from overinflating the value of the coin and destabilizing the value of data products for sale in the MarketPlace.
We will continue work to expand the use of CGCs as we bring on new partners, additional retailers, licensed producers, product producers, educators and others.
Why is it good for GCAC?
While the Citizen Green Community is free for individual members, retailers must pay a system access fee to unlock the value of the Prescriptii Patient Care Solution and Citizen Green Onward Rewards. To this end, and because each retailer is unique and has different needs, Citizen Green offers different levels of participation. Only registered Citizen Green Community medical cannabis businesses can do business on the Citizen Green MarketPlace which is powered by our proprietary blockchain technology.
Last month, we announced our intention to rollout the Citizen Green Community in the state of California. We chose California because it has a population of 39 million, it is one of the fastest growing cannabis markets in North America, and it is expected to have over 5,000 retail cannabis locations by the end of 2018.
Earlier this month, we signed a letter of intent with Cannact LLC of Sacramento to integrate the Citizen Green patient-care solution onto its online distribution platform with potential integration for related cannabis retailer partners. As this is our first retail customer, Cannact will initially act as a beta site. We expect Cannact to become our first revenue generating medical cannabis retailer and expect many more retailers to sign up.
As always, we appreciate your continued trust and support on our journey to create the “compendium of medical cannabis” and look forward to working together in the coming months to ensure the continued success of GCAC.