Cannabis Processing and Tracking System Using Blockchain Patent Application Moves From Patent Pending to Approved
Vancouver, British Columbia, Canada, December 10, 2021 – Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE: APP, FSE: 2FA, OTCQB: FUAPF), a leading medical cannabis chain-of-custody compliance and data platform, obtained official Acknowledgement Receipt from the United States Patent and Trademark Office (USPTO) in filing US Utility Patent Applications.
GCAC filed the “System of Processing and Tracking Cannabis Products and Associated Method Using Block Chain,” Serial Number 63/126,555, filed the original application on December 17, 2020. Due to delays caused by the Covid-19 pandemic, the Patent was officially published on December 2, 2021. A second application filed November 24, 2021, for “Tracking System for Cultivated Products and Associated Methods,” Serial Number 17/457,385 was acknowledged simultaneously.
The applications include “World Assignment” applying to the European Patent Office (EPO), Japan Patent Office (JPO), Korean Intellectual Property Office (KIPO), the State Intellectual Property Office of the People’s Republic of China (SIPO), the World Intellectual Property Organization (WIPO), and other intellectual property organizations participating with USPTO in bilateral or multilateral agreements.
GCAC CEO, Brad Moore stated, “by registering these patents globally, GCAC is cementing its clear lead in the market. We have see this year, and specifically recently at MJBizCon and the CannabiSalud Summit, that cultivators and partners want and need what we have built. Our competitive now is not just in IP, investment and time but is legally protected.”
The patented systems are central to GCAC’s Efixii software, connecting superior data analytics, AI, and deep learning algorithms to an Ethereum-powered blockchain. The SeedtoSeedTM feedback loop seamlessly connects the cultivator to the consumer and back, benefiting everyone in the cannabis ecosystem with enriched transparent data analysis. Scanning an Efixii QR code yields complete product lifecycle details, including reviews.
The 'one gram grown, one gram consumed' model is the only market offering that measures efficacy, providing the most advanced product intelligence available.
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.
This news release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of GCAC. Forward-looking information is based on certain key expectations and assumptions made by the management of GCAC. Although management of the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because GCAC can give no assurance that they will prove to be correct. Forward-looking statements contained in this news release are made as of the date of this news release. GCAC disclaims any intent or obligation to update publicly 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 does not accept responsibility for the adequacy and accuracy of this information.