The use of blockchain to track the medical cannabis value chain from seed to harvest to distribution joined with the consumer experience can provide many benefits to both consumers and cultivators. By following the plant through the supply chain with this data, the use of a blockchain can improve product quality control, smooth stocking issues, and improve the user experience all while reducing costs throughout the whole process.
With the ability to track cannabis down to the plant level and ensure that no contaminants or impurities have been added to the final product, growers can provide higher-quality cannabis for consumers. In addition, a blockchain-based system would allow for complete transparency when it comes to tracking, allowing growers to see where their cannabis has been and what steps have been taken to turn it from seed to consumer.
This real-time data will also help growers to better understand their supply chain and take necessary steps to reduce costs. In addition, blockchain technology allows for data to be securely stored and immutably linked to each plant, helping to ensure that each batch of cannabis is authentic and true to its origin. This would allow medical cannabis providers to quickly and easily determine if a particular product has been compromised or if contaminants have been added to it. By doing so, they can ensure that their customers receive products of the highest quality while saving them time and money by avoiding costly errors.
“The use of blockchain to track medical cannabis from seed to consumer can provide numerous benefits. By ensuring higher quality products and customer engagement, growers can improve their end product and lower costs.”
The Feedback is Crucial
Furthermore, blockchain technology could provide a new level of customer engagement with medical cannabis providers. Consumers could provide feedback on their usage experiences back to the grower, helping to create a direct and meaningful connection between the two entities. This feedback can be anything from the taste of the strain to the efficacy of the medicine. The grower can then use this feedback to adjust production accordingly, providing better products with higher satisfaction and reducing costs by double-checking each step to ensure that the highest standards are met.
A Supply Chain Everyone Can Rely On
Finally, medical cannabis providers can leverage blockchain technology to streamline the supply chain and reduce costs. By making the entire supply chain visible to all stakeholders, growers can better understand the flow of their products and determine where inefficiencies lie. This visibility helps them to develop more efficient processes and make informed decisions that benefit both the growers and their customers. For instance, they may be able to eliminate unnecessary packaging components or alternative distribution routes to save money. In conclusion, the use of blockchain to track medical cannabis from seed to consumer can provide numerous benefits. By ensuring higher quality products and customer engagement, growers can improve their end product and lower costs. Moreover, blockchain technology’s transparency can help medical cannabis providers monitor and optimize their supply chain for greater efficiency and lower cost. All the benefits of utilizing blockchain lead to one common goal, a better product to help those that need it most. If we can create a better product for the patient we all win.
GCAC and Medical Cannabis
GCAC owns a Layer 2 Ethereum blockchain, called Efixii. Efixii is licensed agritech to farmers/cultivators/manufacturers in a SaaS model and is a free-to-use app for consumers. All agricultural products sold through the software generate a new sales-commission revenue stream for the Company. Efixii’s agricultural data is the intellectual property (“IP”) of GCAC. This IP creates an inherent difficulty in replicating or competing with GCAC’s agricultural datasets. GCAC initially defined its protocols in a provisional US patent application for the cannabis industry, ‘System of Process and Tracking Cannabis Products and Associated Method Using Blockchain,’ filed with the USPTO on Dec. 17, 2020. The Company constantly works to update its Patents and Trademarks as it enters new verticals. GCAC is leading the way in connecting cannabis cultivators with medical patients on its Efixii blockchain. Last year the company was awarded a non-possession medical cannabis selling license[1] which it is using to provide the best medical cannabis cultivated on the Efixii blockchain to Canadian military veterans [2].
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FAQs
Q: What is the importance of transparency in the medical cannabis industry?
A: Transparency ensures that consumers have access to accurate and reliable information about the products they are purchasing, including information on the strains, growing methods, and lab test results. This can help consumers make informed decisions about the products they use, which can lead to better outcomes and more satisfaction.
Q: How does feedback play a role in creating a better and more affordable medical cannabis product?
A: Feedback from consumers allows producers and manufacturers to understand the preferences and needs of their customers. By listening to feedback, they can make adjustments to their products and growing methods to improve quality, reduce costs, and better meet the needs of their customers. This can ultimately lead to more affordable and effective medical cannabis products.
Q: How does transparency in lab testing help ensure the quality and safety of medical cannabis products?
A: Transparency in lab testing ensures that consumers have access to the lab test results for their products, including information on the presence of pesticides, heavy metals, and other potential contaminants. This allows consumers to make informed decisions about the quality and safety of the products they purchase and helps to ensure that they are getting a safe and effective medical cannabis product.
Q: How can I find a transparent and reliable medical cannabis provider?
A: Look for a provider that is open and transparent about their growing methods and lab test results. You can also check for certifications and third-party lab test results that indicate that the products have been independently tested for quality and safety. Additionally, you can ask for recommendations from other medical cannabis patients or your healthcare provider.
Q: How can I provide feedback to medical cannabis providers to help create better and more affordable products?
A: You can provide feedback to medical cannabis providers through online reviews, surveys, or by contacting the company directly. Be sure to include specific details about what you liked or didn’t like about the product, as well as any suggestions for improvement. You can also join online communities for medical cannabis patients and participate in discussions about different products and providers.
