Crypto and Cannabis Combine: Global Cannabis Applications Corp. (CSE: $APP.C) (FSE: 2FA) (OTCQB: $FUAPF) CEO Breaks Down Company's Uniswap Token and Efixii Deal with Herb Industries Ltd.
Point Roberts, WA and Delta, BC - May 12, 2021 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's special edition of the Crypto Corner podcast featuring an exclusive interview with Brad Moore, CEO of Global Cannabis Applications Corp. (GCAC) (CSE:APP) (FSE:2FA) (OTCQB:FUAPF). Mr. Moore discusses his company's use of blockchain and decentralized finance (DeFi) in the medical cannabis space.
Global Cannabis Applications Corp, ("GCAC") is a global leader in designing, developing, SaaS licensing and acquiring innovative blockchain data technologies for the medical cannabis industry.
Listen to today's Crypto Corner Podcast:
Crypto Corner Podcast: Global Cannabis Applications Corp. (CSE: $APP.C) (FSE: 2FA) (OTCQB: $FUAPF) CEO Breaks Down Company's Uniswap Token and Efixii Deal with Herb Industries Ltd.
From the interview:
"This is a form of end-user marketing to that market segment that uses both medical cannabis and decentralized finance," Moore said.
A recent press release announced launch of the GCAC token on Uniswap on the Ethereum (ETH) blockchain. The token was built and is operated by Abbey Technology, a Uniswap-based DeFi service provider. Moore pointed out that GCAC's relationship to the token is through a marketing contract with Abbey.
"They created the token, and we engaged in a marketing contract with them to use our name in association with the token," he said.
Moore explained in the press release:
"First and foremost, We - Are - Blockchain. So, I'm delighted to expand our marketing reach to fellow blockchain proponents. Cannabis consumers come in many forms and I am really excited to be marketing directly to the Uniswap DeFi community and raising awareness of cannabis efficacy and quality amongst this rather liquid demographic."
A key feature of the token is GCAC's commitment to purchase GCAC tokens on Uniswap with one percent of its quarterly revenues.
"What's interesting, as part of our marketing contract, is that we committed to invest one percent of our top-line revenue," Moore said. "That's why when you look at next year's deal with Herb Industries, it has the potential to add $160,000 into the liquidity pool."
"The whole idea is that we're investing our hard-earned dollars into the liquidity pool in a buyback, so actually, people can see us putting money into the program and as the company grows, it legitimizes what that token actually means."
The deal with the Malta-based Herb Industries Ltd. was announced in a press release on April 13, 2021 and involves a definitive three-year software licensing agreement wherein GCAC will license its Citizen Green Efixii platform as part of the former's "‘technology farm' for use in its cannabis compliance and consumer transparency." Efixii is an app that tracks the full cycle of cannabis cultivations, represented by a QR code.
"With cannabis, because it's such a complex plant, you actually have to measure it on a per gram basis of consumption," Moore said. "So think about that. All the data points from it growing; all the way through cultivation, all the way through testing, all the way through manufacturing - if it's going into an edible or into an oil-based product - and all the way to consumption. And then we measure your experience with the Efixii app ... and put that on the blockchain. Now we're getting to the point where we've got consumption, on a per gram basis, overlaid with thousands of other people."
Moore explained the utility of the data that the company accrues can be leveraged by regulators.
"Once you get big data like that, you can do some interesting things," he said. "Most importantly, a regulator - when there's a lack of data - can look at that and write meaningful regulations. We're actually doing this project on behalf of consumers, for the whole point of regulators being able to get behind this and see what a working blockchain can actually do."
About Global Cannabis Applications Corp. "GCAC"
GCAC is a global leader in designing, developing, SaaS licensing and acquiring innovative data technologies for the medical cannabis industry. The Citizen Green and Efixii platforms are the world's first end-to-end - from patient to regulator - medical cannabis data solutions. They use six core technologies: mobile applications, artificial intelligence, RegTech, smart databases, Ethereum blockchain and GCAC smart rewards. These technologies transparently disclose cannabis chain-of-custody events, thereby enabling patients to provide crowd-sourced medical cannabis efficacy data. Driven by digital and cannabis industry experts, GCAC is focused on generating revenue from SaaS licensing its technology and acquiring high quality cannabis datasets that improve patient outcomes and to become the world's largest cannabis efficacy data provider.
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