Blockchain for Medical Cannabis DataGlobal Cannabis Applications and SciCann, an Israeli pharmaceutical research company are teaming up to bring medical cannabis data to a decentralized blockchain.
SciCann Therapeutics was founded last year by Dr. Zohar Koren with a goal of integrating two world leaders in cannabis research, Canada, and Israel. Canada is currently the fastest growing for legal cannabis along with its ancillary services and technology. Israel, on the other hand, is considered a world leader in cannabis and cannabinoid research and development. SciCann Therapeutics consists primarily of venture capitalists and cannabis researchers who are trying to bridge the gap between medical research and commercial enterprise in the cannabis industry.
Global Cannabis Applications, also known as GCAC, designs, develops, acquires, and markets mobile applications. Their most notable application is the Citizen Green Technology platform, which is used to store a variety of different data fields for cannabis-related businesses. Citizen Green rewards users for uploading and sharing their data with a cryptocurrency called "Citizen Green Tokens", which can be redeemed for "CannaProducts in medical cannabis programs globally".
SiCann's Partnership with Global Cannabis Applications Corp
Earlier this year, GCAC announced a strategic partnership with SciCann Therapeutics to integrate their system into the Citizen Green blockchain platform. The addition of medical research to the platform could end up helping Citizen Green to distance itself from the seemingly endless pack of cannabis businesses making their own cryptocurrencies. With SciCann's involvement, GCAC hopes to meet some lofty goals over the next two years.
Can GCAC reach their lofty goals?
SciCann hopes to leverage the artificial intelligence and predictive analysis aspects of the Citizen platform to improve data collection and analysis for medical cannabis research.
“By combining our scientific research and clinical data with GCAC technologies, we can deliver superior data outputs that can be used to provide better medical cannabis products for patients around the world.” -Dr. Zohar Koren
Will Big Pharma Try to Imitate Citizen Green?
I'm interested to see if pharmaceutical companies will try to incorporate their own blockchain-based systems into their research. This seems to be a trend among major corporations lately, anything company being disrupted by blockchain is now racing to incorporate blockchain into their systems. The most notable example is banks adding blockchain to their marketing jargon and commercials in response to the popularity of Bitcoin and Bitcoin exchanges. Personally, I don't see blockchain as a helpful addition to large-scale commercial banking outside of being a buzzword.
There seems to be a disconnect between these banking corporations and the reasons why blockchain has generated so much interest in the first place. In the case of big banks, their marketing departments boast the speed and security of blockchain, while sweeping the whole decentralization and transparency aspects under the proverbial rug. Ironically, being centralized and non-transparent is what allowed corporations like big banks and pharmaceutical companies to get so large in the first place. I don't think that incorporating blockchain into research will help pharmaceutical companies whose business model thrives on the control of information to squash potential market disrupters.
This conflict of interest hasn't stopped corporate banks from jumping on the bandwagon of blockchain buzz, however. Despite collecting most of their income from being a middleman for financial transactions, corporate banks are boasting the addition of a system designed to eliminate middlemen in financial transactions in their commercials. I think that big pharma will attempt a similar unsuccessful gesture of market pandering.
Blockchains were made for large communities with a bottom-up to data collection, which is pretty much the opposite of how multination conglomerates operate. If Citizen Green and similar blockchain-based platforms in the future can be commercially successful, we might could see a transformation to the way medical research is done even outside the cannabis industry.