Cannabis Stock Report: IGC Channels Satoshi Nakamoto – PotNetwork (blog)
Joining the blockchain craze this week was India Globalization Capital, Inc. (NYSE:IGC), a heavy-equipment rental and real-estate-management firm that dabbles in medical marijuana. According to a statement, the company hopes to address one-of-a-kind issues faced by the cannabis industry. Specifically, IGC plans to explore blockchain use in the area of product identification assurance (PIA), citing studies showing that over 70 percent of cannabidiol products purchased over the internet have the wrong label.
The company’s top product is a cannabis-based Alzheimer’s drug called Hyalolex. Currently, IGC hopes to receive both FDA approval for the drug, as well as licensure to distribute it as a Complimentary and Alternative Medicine in marijuana dispensaries throughout the country. Initial plans are to distribute the product in dispensaries throughout D.C. and Maryland and then to expand from that point outward.
“We understand the unique challenges facing the cannabis industry and believe that our team has the expertise to be the first to create meaningful solutions to address these issues using distributed ledgers inherent in blockchain technology,” remarked company CEO Ram Mukunda. “As we work to develop blockchain in the rollout of Hyalolex, our goal would be to establish a universal cannabis platform applicable to solving multiple industry challenges facing dispensaries and consumers. “
IGC expects that Hyalolex will be available to Alzheimer’s patients sometime in 2018.
Future Farms Florida Project
My parents didn’t want to move to Florida, but they turned sixty and that’s the law… On Wednesday Future Farm Technologies Inc. (CSE:FFT) (OTCQB:FFRMF) announced they would close on their previously announced 10-acre operating greenhouse on January 4, 2018. In 2017 the greenhouse generated $2.6 million in revenue and another $400,000 in EBITDA. The move is part of the company’s plan to expand into the Florida cannabis market, which, according to a statement they believe will generate