Cannabis is being legalized in many countries around the globe. It has gone from an illegal recreational drug to a plant that offers its consumers many legitimate medical benefits. Governments are also recognizing the control and tax revenue they will gain through legalization.
In the USA, the States that have moved to legalize cannabis have seen this industry increase to $6 billion and forecasts grow to as much as $40 billion by 2020.
In Canada, the industry is growing rapidly and is expected to be a $5 billion industry by 2020.
In Germany, medical cannabis has been legalized and the laws are being relaxed to allow a wider range of ailment to be treated by cannabis related products. It is estimated that there will be up to 5 million medical users in the next 5 years.
These are just a few examples that outline the opportunities in the cannabis market worldwide.
At Global Cannabis Applications Corporation, we are releasing our first cannabis focused application called CitizenGreen.
CitizenGreen is targeted at the European market (starting with Germany) to provide cannabis users both information on where to get cannabis products and also product availability. Users will be able to find dispensaries near them and search for products to find dispensaries with that product. Our first release is an easy to use application, but we will be expanding its functionality to give users more and simpler access to information related to cannabis strains and the ailments that are best treated by specific strains. We will enable a community to grow within the app user base so that users feel they have a community to ask questions, give feed back, and provide validation of quality cannabis products.
Through engagement and interaction with the cannabis community, there are several monetizing options that can be applied to a growing user base. These revenue streams will bring a premium compared with other market segments and hence are expected to bring cash flow and revenue growth within a 3 to 6 month window.