A Canadian cannabis compliance blockchain technology has been approved by the Israeli government for commercial use.
In a statement Tuesday, B.C.-based Global Cannabis Applications Corp. (GCAC) (CSE: APP.CN) (FSE: 2FA) (OTC: FUAPF) said its Efixii technology will be used in cannabis cultivation research for Israeli growers.
Israeli medical cannabis cultivator Bless Cultivation Ltd., which entered a three-year licensing agreement with the company in 2020, was given approval by the Israeli Medical Cannabis Unit (Yakar) to research the “production capacity of cuttings from a mother plant, without creating a stressful situation for the source plant, as a function of time,” according to GCAC.
“Understanding production capacity of cuttings from a mother plant without stressing the plant will help us develop improved product consistency,” Bless founder Nadav Segal said in a statement. “Efixii is the only service with the power to record and thoroughly analyze this process – all with complete blockchain transparency. This helped us secure approval from the regulator as they are confident in the tamper-proof data Efixii provides.”
The Efixii mobile app will be used to manage, record and deliver “reliable insights across all study periods,” and according to the company, its “methodology has been shown to yield better patient outcomes when its ultra-reliable data is used.”
The app securely logs all data attestations to the blockchain for full transparency.
“GCAC’s artificial intelligence and deep learning algorithms yield important data insights for government research initiatives and help develop a better understanding of cultivation principles,” continues the statement. “This approval allows Bless Cultivation, and others, to immediately commence cultivation without waiting to complete the physical site development (security systems, etc.) thereby lowering the funding burden for cultivation commencement.”
In July, GCAC said it would fund cannabis growers that license its Efixii cannabis Seed2Seed blockchain software.
“As we expand our reach within the licensed cannabis community here in Canada, we are seen by more and more cultivators as not just innovators, but also as a trusted service provider,” CEO Brad Moore said in a statement at that time.
GCAC’s stock remained flat Tuesday at $0.065 on the Canadian Securities Exchange.