Our medical cannabis eco-system is starting to take shape.
When we began this journey 18 months ago, the Citizen Green Community was the start of an idea that we could help create better outcomes for patients using medical cannabis. Today, after achieving milestone after milestone, we are beginning to see all the different pieces come together in a technology driven medical cannabis community, that joins stakeholders from medical cannabis product producers to retailers and patients.
THE CITIZEN GREEN COMMUNITY TECHNOLOGY
GCAC has made huge strides towards this overall objective including the use of advanced technologies to connect the Community. Patients will work directly with medical cannabis retailers (dispensaries, pharmacies, online retailers) providing key information about their ailments based on a short questionnaire. The Citizen Green technology solution takes this information and provides a personalized recommendation, through a simple and clear user interface, provided through a dispensary desktop portal. When patients go home they have an easy to use “take home” app that prompts them to take their prescription and provide feedback on their experience including any negative side effects.
The Sanna Chatbot in the “take home” app (press release March 15, 2018 – Global Cannabis To Launch Artificial Intelligence Chatbot for the Medical Cannabis Industry) asks specific questions based on a patient’s cannabis prescription experience which is then weighted through comparative analysis to thousands of other patients’ experiences and clinical study data to create a next step for the patient. By connecting these app inputs with the desktop solution, retailer workers with the ability to track progress, make suggestions and modify prescriptions for returning patients in real time. Using this revolutionary approach, retailers will have access to an incredible level of insight which can be used for better patient outcomes and planning product inventory. This knowledge is key for strengthening and enhancing their supply chain with product producers, which leads to more sales and profitability. While many of these technology features are complimentary, GCAC is offering retailers and product suppliers a premium data analysis insights model that can be easily unlocked for a monthly fee.
The Citizen Green Community end-to-end data system collects and analyzes this medical cannabis data and information, in a safe and trusted blockchain environment. The blockchain enables a secure, safe, transparent reward system for the data insights from Community members which we call the Citizen Green Token (CGT). The AI components of the Platform determines the relevancy of data inputs and the blockchain validates the information. This statistically proven methodology awards CGT only for data inputs that result in for matching a medical cannabis product to resolve an ailment. Earned CGTs drives economy between producers, retailers and patients which can be used to purchase products and services in the Community ecosystem.
CITIZEN GREEN TOKEN AND ECONOMY
As outlined in the May 29, 2018 news release, the Opinion Provision provided from the Bank of Lithuania concluded the CGT is not a security. As the Bank of Lithuania cooperates with the European Central Bank to make decisions on monetary policy and its implementation, the Bank’s opinion of the CGT token as a utility token places us firmly on the right side of regulators globally regarding cryptocurrencies. Furthermore, by establishing GCAC Europe in Lithuania, GCAC not only has future access to lucrative EU market, but it is establishing itself as key technology provider and employer in Lithuania. As part of the recognition in our investment, the Company was invited to participate in a government trade mission to China with Ministry of Finance (press release May 6, 2018 – GCAC To Join Lithuanian Government Trade Mission to China).A critical step to defining the legitimacy of the Citizen Green Token was the approval for listing on the Canadian Cryptocurrency Exchange (CCX). This is the first step in establishing the value of the data for those who wish to have access to it by purchasing the data and as such the data itself becomes the underlying currency. Members who earn CGTs will have them deposited in a safe, secure anonymous Wallet.
This all important first listing on the CCX will establish the CGT on the same level as other forms of currency and brings the overall GCAC Citizen Green story full circle. As the Citizen Green Community is used across multiple global medical cannabis markets, it is vital that CGT is available on multiple cryptocurrency exchanges around the world. With all of this about to happen on our own blockchain, in essence an exchange in the Citizen Green Community ecosphere, GCAC will be earning revenues for each cryptocurrency transactions between all who participate.
Crypto assets have been allowed on the financial statements of other Vancouver based publicly traded companies by auditors. The CGT crypto asset is held by GCAC’s 100% owned Lithuanian based GCAC Europe and recently the Lithuanian Ministry of Finance published a position of the Authority of Audit, Accounting, Property Valuation and Insolvency Management which states that cryptocurrencies which may be used as payment means not only for payment for services rendered, but also to exchange into common currency (FIAT money), have the same characteristics as foreign currency; therefore, they could be attributed to cash.MOVING AHEAD
With data, economy of scale is key, and we were pleased to announce the Citizen Green Community has reached almost 500,000 members, who joined by downloading the CannaLife mobile app, in a very short period of only a couple of months (press release August 1, 2018 – GCAC Reports 495,000 Citizen Green Community Members in Q2 2018). We are thrilled with this achievement because the aggressive growth is necessary to create the much-needed member population which will contribute their medical cannabis usage experiences to the technology platform. These CannaLife users will also become the first to utilize the desktop and mobile solution provided by cannabis retailers in Canada and other legal medical cannabis markets globally. With more and more global Citizen Green Community adoption, we expect this number to grow exponentially, growing both the size of medical cannabis insights and use of the Citizen Green Token. Recently Anastasija Plotnikova, Chief Operating Officer, GCAC Europe, was invited to speak at the Oslo Innovation Week in Oslo, Norway (press release of August 7, 2018 –GCAC Brings Disruptive Token Economy Model to Oslo Innovation Week) about the GCAC model. This event with other keynote speakers, including former US president Mr. Barack Obama, is a key component of building both the GCAC and Citizen Green brands.
In closing our focus remains to create better patient outcomes by using each patient’s experience to add to the health of the next patient. The GCAC management and team appreciate your continued trust and support, and look forward to working together in the coming months to ensure the continued success.With Kind Regards,Brad Moore
Global Cannabis Applications Corporation