THE MEDICAL CANNABIS INDUSTRY.
NTRODUCTION
Medical Cannabis is the medical use of the Cannabis sativa, Cannabis indica and various other strains to relieve symptoms of diseases and treat their conditions. The cannabis plant was used for medicinal purposes for centuries throughout the world until the early 1900s. It contains more than 100 different chemicals called cannabinoids. Each one has a different effect on the body. Delta-9- tetrahydrocannabinol (THC) and cannabidiol (CBD) are the main chemicals used in medicine.
Medical cannabis is a category term for anything from dried cannabis flowers, cannabis oils, capsules and tablets to mouth spray. Common to all these product types is that they contain either parts of the cannabis plant, active substances from the plant or synthetic cannabinoids which are used to alleviate illness. The main active and commonly known cannabinoid compounds are tetrahydrocannabinol (THC) and cannabidiol (CBD). THC contains properties that can increase appetite and reduce nausea. CBD has a dampening effect on cramps. Thus, the combination of THC and CBD may potentially provide a remedy for patients suffering from pain, cramps and/or nausea and many other illnesses and diseases.
WHAT ARE THE MEDICAL BENEFITS FOR PATIENTS?
Cannabinoids in medical cannabis act on the endocannabinoid system, a natural signalling system in the human body. The endocannabinoid system has a regulatory and protective function in the body and regulates pain, inflammation, sleep, appetite and memory, among other things.
The system consists of internal cannabinoids, the CB1 and CB2 receptors, along with substances that break them down. Internal cannabinoids are cannabis-like substances that the body produces itself, which work on the endocannabinoid receptors. CB1 receptors are predominantly located in the brain and the central nervous system. The CB2 receptors are found in other parts of the body, connecting with the cells that are involved in our immune system.
LEGALIZATION
The legality of cannabis for medical and recreational use varies per country, in terms of its possession, distribution and cultivation as well as how it can be consumed and the medical conditions for which it can be used. These policies, in most countries, are regulated by the United Nations Single Convention on Narcotic Drugs that was ratified in 1961, along with the 1971 Convention on Psychotropic Substances and the 1988 Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances.
The use of cannabis for recreational purposes is prohibited in most countries, however, many have adopted a policy of decriminalization to make simple possession a non-criminal offense.
THE FUTURE AND POTENTIAL OF CANNABIS
Legal cannabis markets are still a relatively new phenomenon and the market is nowhere near its total sales potential. Worldwide consumer spending on legal cannabis was expected to reach an estimated $12.2 billion in 2018, a significant jump from $9.5 billion in 2017, according to the 2019 update of the State of Legal Cannabis Markets, 6th Edition (SOLMM) report released by ArcView Market Research (ArcView Group) and BDS Analytics.
The 28% worldwide growth estimated for 2019 is slightly behind the growth rate forecast made in the original SOLMM report released in June 2018, as Canada delayed the launch of its programme from June to October 2018 and California’s extensive tax and regulatory structure hindered legal operators in their competition with the state’s robust illicit trade. ArcView Group now forecasts that spending growth will accelerate in 2019, jumping 38% to $16.9 billion, and continuing to $31.3 billion in 2022, growing at 26.7% compound annual growth rate (CAGR) over the five-year timeframe from 2017.
PROBLEMS IDENTIFIED IN THE CANNABIS INDUSTRY
The Blockchain Corporation team has done extensive research in the cannabis industry and has identified several problems that cultivators and consumers face. The team has selected a few very important factors and the aim is to eradicate these problems and create a sustainable environment not only in the industry, but also for the benefit of CannaCor.
BLACK MARKET PRODUCTS AND ILLEGAL CANNABIS GROWERS
A major challenge faced by pharmaceutical companies is to reduce the number of counterfeit products entering the market. Companies that attach anti-counterfeit labels on their goods provide customers with confirmation that the product is exactly what it claims to be. Despite legalizing cannabis in various countries in the past few years, there is still a thriving black market that includes cannabis growers and sellers. According to research from New Frontier Data, as much as 80% of cannabis sold in California comes from the illegal black market.
REJECTION BY CERTAIN MAJOR BANKS OF ANY TYPE OF ASSOCIATION WITH THE CANNABIS INDUSTRY
A significant problem in the industry is that most medical cannabis dispensaries are barred from depositing or withdrawing from top banking institutions and thus have to rely on cash-in-hand operations, which is incredibly difficult considering the amount of money handled daily. Accounting becomes strenuous when large amounts of money are involved. Additionally, cash transactions hinder the trust a customer places on cash suppliers.
The main areas in the cannabis industry that need attention are:
1. Process and cost analysis
The process will trace all nutrients and materials used for growing cannabis plants in order to calculate the cost per gram by plant, batch and strain.
2. Genealogy tracking and optimization
This will help cultivators keep a record of a strong diverse genetic portfolio to facilitate tracking of the genealogy of each plant and the creation of new hybrids based on cultivators’ preferences.
3. Product quality and consistency
A significant problem that cultivators face is producing a harvest of consistent quantity and quality by following repeated processes. By using a reliable system to track a batch and capture all information regarding the genealogy, exact amount of water nutrients used, the precise pH, temperature and humidity at each stage of the process can greatly improve consistency.
WHAT IS BLOCKCHAIN?
A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). By design, a blockchain is resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for internode communication and validating new blocks.
ENHANCING TRACEABILITY
The most common use of blockchain in supply chains is to improve traceability. It will enable CannaCor to quickly track “unsafe” products back to their source and determine where they have been distributed. This can prevent illness and save lives, as well as reduce the cost of product recalls. The information collected and the stakeholder groups involved vary based on the needs of the groups in each initiative.
The potential for transparency, both internally and externally, can provide CannaCor with the opportunity to:
1. replace certain back-office functions
2. provide unprecedented cohesion to internal cultivation procedures
3. show an account of consensus with an audit trail of transactions that have been cryptographically encoded
4. create real-time settlement
5. strengthen risk management for both CannaCor and their clients.
PROCUREMENT AND LOGISTICS
CannaCor will source suppliers to provide the cannabis seeds and any other materials needed to cultivate cannabis, followed by the establishment of specific processes to monitor and manage supplier relationships. Key processes include ordering, receiving, managing inventory and authorizing supplier payments.
The processes involved are:
1. identification of suppliers
2. negotiation of price
3. the signing of agreements (Smart contract)
4. payment schedules
5. procedures for logistics and receiving orders
SMART CONTRACTS
Hyperledger Fabric Smart contracts are written in chain code and are invoked by an application external to the blockchain when that application needs to interact with the ledger. In most cases, chain code interacts only with the database component of the ledger, the world state (querying it, for example), and not the transaction log. Chain code can be implemented in several programming languages. Currently, Go and Node are supported.
TOKENOMICS
The CannaCor coin is an ERC20 coin created on the Ethereum Blockchain. CannaCor decided to use Ethereum because it has already been adopted by the masses and allows the CannaCor coin to participate in mainstream activities. Ethereum is a fast, decentralized and immutable blockchain. CannaCor will strive to achieve mass adoption in the medical cannabis sector by offering solutions that address the issues pertaining to cross-border transactions. We aim to offer solutions for the lack of banking and payment services for legal cannabis businesses.
COIN DETAILS
The CannaCor coin is an ERC20 based on the Ethereum Blockchain. ERC20 is an official protocol for proposing improvements to the Ethereum (ETH) network and can be understood as a standard for coins that are created on the Ethereum blockchain. The ERC20 coin standard makes it easier to exchange one ERC20 coin for another, and to integrate various ERC20 coins into platforms such as blockchain wallets and exchanges, and more.
IEO Details
Website: Visit
White paper: Read
Pre-sale Time: 11 Sept 2019–15 Dec 2019
IEO Time: 16 Dec 2019–31 Mar 2020
Whitelist/KYC: KYC
Country: Lesotho
Token info
Ticker: CANO
Platform: Ethereum
Token Type: ERC-20
Financial
Pre-sale Price : 1 CANO = 0.06 USD
IEO Price: 1 CANO = 0.12 USD
Accepting: ETH, BTC, XRP
Soft cap: 1,500,000 USD
Hard cap: 112,300,000 USD
Coin Allocation
78%: Coin Sale
07%: CannaCor Team
07%: Blockchain Corp Team
05%: Strategic Partnerships
03%: Bounty & Airdrop
Funds Distribution
30%: Cultivation
30%: Technology & Core
08%: Marketing & Business
05%: Admin
12%: Liquidity on Exchanges
05%: Legal
05%: Exchange Listing Fee
05%: Commissions & Fees
Cannacor Team
Hugo: CEO
Pieter-Jan: CFO
Pieter: Operations Director
Tobie: Legal Advisor
Refiloe: HR
Jan: Technical Advisor
Seabata: Security
Frik: Master Grower
Blockchain Corp Team
Gerhard: Founder
Logan: Software Engineer
Ankur: Technical Advisor
Latha: Technical Advisor
Willie: Cultivation Advisor
Sergey: Blockchain and Software Advisor
Adeniji: Advisor
Deepanshu: Advisor
Peter Cris Nabida: Advisor
To get even more accurate information please visit the link below:
Facebook: https://www.facebook.com/cannacor/
Twitter: https://twitter.com/canna_cor
Medium: https://medium.com/@CannaCor
AUTHOR
MY LOGIN ON THE BIT LINK: gita007
🔥 MY PROFILE ON THE INTOL BIT: https://bitcointalk.org/index.php?action=profile;u=2680243
Eth: 0x25d69970B011311D6E4D229513d3df9F8DbF833e
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