Vancouver, British Columbia, Canada – TheNewswire – December 1, 2020 – Global Cannabis Applications Corp. (“GCAC » or the “Company”) (CSE: APP) , FSE: 2FA, (OTC: FUAPF), one of the leading commercial licensees of proprietary blockchain and AI data technologies for the medical cannabis industry, today outlined its roadmap focusing on Ethereum 2.0, Eth2; continuing to focus on the benefits Ethereum truths bring to Canadian medical cannabis and adult markets, which are expected to grow to CA $ 4.1 billion in 20211.
GCAC focuses on delivering irrefutable truths using the Ethereum blockchain where it records the effectiveness of medical cannabis treatments. GCAC’s smartphone app allows consumers, retailers and growers to provide data for each stage of the medical cannabis life cycle. These data contributions are therefore immutably attested using GCAC’s Ethereum Eth2 technology.
However, GCAC transactions must be paid in $ ETH and recently the fees have started to rise. While truth is fundamental to medical cannabis, any Ethereum-based business must be both creative and profitable. Hence, the launch of Eth2 in Phase 0 today confirms GCAC’s vision and heralds a new era for its participants to continue collecting and storing the truth. Medical cannabis growers and retailers pay GCAC an affordable price to have their truths embedded on a public blockchain.
Following today’s announcement of Ethereum, Phase 0 will be Phase 1, scheduled for 2021. Phase 1 enables you to implement GCAC’s Eth2 rollup technology to store smartphone data claims on fragmented Eth2 chains. GCAC has invested $ 5.92 million in Ethereum technology2 and plans to provide additional business benefits and profitability with Ethereum 2.0 Phase 1.
GCAC CEO, Brad Moore “Public blockchains are the ultimate arbiter of truth, this has been proven since the advent of Bitcoin. Ethereum, with its smart contract capabilities, is the next ideal generation of blockchain truth. And now, Eth2 is set to revolutionize Ethereum’s commercial use cases. Our business model allows our SaaS licensee subscriptions to pay us to store the truths about cannabis efficacy and do so while we remain profitable. My vision is always getting closer to more and our investors are the ones to thank for their faith and trust to bring us here. “
On October 2, 2020 @VitalikButerin, co-founder and inventor of Ethereum, said3 that genuine economic value is a key factor in Ethereum’s economic viability and rollup-focused models have the ability to collect fees from companies like GCAC when providing commercial utility.
All GCAC contributions to providing high performance Ethereum 2.0 client rollups and all smartphone-derived attestation data are the intellectual property (“IP”) of GCAC. GCAC’s IP protection creates an inherent difficulty in replicating or competing directly with GCAC’s medical cannabis datasets and technology solutions. The company believes this makes GCAC one of the most comprehensive and exciting platforms for effectiveness in the cannabis and blockchain space.
1 https://www.yahoo.com/news/which-pot-stocks-will-survive-cannabis-bankruptcy-risk-131732204.html
2 https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00036309
3 https://ethereum-magicians.org/t/a-rollup-centric-ethereum-roadmap/4698
About Global Cannabis Applications Corp.
Global Cannabis Applications Corp. is a global leader in the design, development, marketing and acquisition of innovative data technologies for the medical cannabis industry. The Citizen Green platform is the world’s first end-to-end solution from patient to regulator for medical cannabis data. It uses six core technologies: mobile applications, artificial intelligence, RegTech, smart databases, #ETH blockchain, and GCAC smart awards to qualify candidates for clinical trials. These technologies facilitate the proliferation of digital conversations by like-minded people in the medical cannabis community. Led by digital and cannabis industry experts, GCAC focuses on global viral expansion by providing the best digital experience in the cannabis market.
For more information on the company, visit www.cannappscorp.comor review his profiles on www.sedar.com and on the Canadian Securities Exchange website www.thecse.com.
Press contact
Phone: +1 (800) 409-5679
E-mail: [email protected]
Forward-looking information
This press release may include forward-looking information under Canadian securities law relating to the business of GCAC. Forward-looking information is based on certain key expectations and assumptions made by GCAC management. Although the Company’s management believes that the expectations and assumptions upon which such forward-looking information is based are reasonable, undue reliance should be placed on forward-looking information because GCAC cannot provide any assurance that it will be correct. Forward-looking statements contained in this press release are made as of the date of this press release. GCAC disclaims any intention or obligation to publicly update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed and assumes no responsibility for the adequacy and accuracy of this information.
