Using Blockchain Technology to Improve the Medical Cannabis Industry

Using Blockchain Technology to Improve the Medical Cannabis Industry

How Blockchain Technology Enhances Trust and Improves the Medical Cannabis Industry

The widespread and growing legalization of medical cannabis has resulted in complex and varied regulations that impact everyone. From cultivator to consumer, the industry is full of hurdles we have all experienced at one point or another.

When navigating the medical cannabis system, the lack of transparent and meaningful information about product and product safety is glaring. Industry experts, medical and pharmaceutical professionals, and, most importantly, patients agree that developing safer, more effective products is crucial.

A core issue is guidance on how to effectively use the product . For patients, it is a prolonged process of trial and error, further complicated by the variable potency of the products they consume. All stakeholders – cultivators, manufacturers, distributors, retailers, medical and pharmaceutical professionals – recognize the challenge.

Required labels that list THC and CBD levels do not account for plant variations and manufacturing processes. A relationship between cultivator and consumer does not exist nor does data exploring dosage.

Fortunately, blockchain-based technology provides a better way to form cultivator<>consumer relationships and generate useful data. Blockchain captures all details of the product lifecycle from end-to-end, is tamper-proof, and is fully transparent. Most importantly, the end-user can review the entire chain of events.

Only the blockchain enables the key cultivator<>consumer relationship. The cultivator creates a blockchain and the consumer anchors the relationship using the real-time feedback loop. Consumer trust is elevated and social participation in the feedback loop cements the relationship. When a consumer records their experience on a gram-by-gram basis, there is a direct data connection with the cultivator that improves outcomes.

This transparent data also allows manufacturers, distributors, retailers, and medical professionals to benefit.

To better understand new solutions, let’s take a quick look at the lifecycle of a medical cannabis product.

The Medical Cannabis Cultivator

The role of the cultivator has never been more important. Cultivation requires meticulous attention to growing details, adherence to regulations, and understanding every step post-harvest.

It is a delicate balance of compliance/certification costs and optimizing growing techniques to boost revenues. Every batch must be tested, certified, and approved before it can move to the next stage. To develop better, more effective products, cultivators must make sense of the product lifecycle, especially the patient experience. The lack of useful data often leaves them guessing.

Citizen Green Efixii offers an easy-to-use, blockchain-based, mobile solution to collect, manage, and analyse this data. It records and securely tracks each step in the product lifecycle using artificial intelligence (AI) and deep learning algorithms to reduce compliance costs and stimulate more profitable grows. Post-harvest data analyses the impact of different manufacturing processes and evaluates consumer preferences with the SeedtoSeedTM feedback loop.

This creates a unique, secure relationship on a per-consumer basis, resulting in better cultivation and marketing decisions and increased sales without customer acquisition costs.

The Medical Cannabis Manufacturer

Manufacturers look for two things: a high-quality product and a trustworthy supplier. But how to achieve that? It usually means going through a ton of paper to determine if the product is what it claims to be.

With transparent, verifiable data from the cultivator, manufacturers can scan a QR code, audit and confirm product quality and certification with ease. They add each event to the blockchain for easy compliance and enhanced understanding of those processes.

The cost-effective technology reduces production and compliance costs, helps understand product efficacy, and evaluates the market for increased profitability. This improves the overall value chain, building strong relationships with all stakeholders.

The Regulator

When it comes to regulations, everyone knows that compliance is critical. For cultivators, manufacturers, and retailers, filling out reams of paper forms is a hassle. And how can a regulator know it is accurate and verifiable? The solution is simple: transparent blockchain-based technology.

With Efixii, regulators can access all product information by scanning a secure QR code, decreasing compliance costs, and speeding approval times. They know blockchain-based data cannot be altered or erased and it makes their job easier.

As more national and regional regulators embrace this technology, there will be a positive knock-on effect for early adopters of this technology.

The Medical and Pharmaceutical Profession

A critical element absent in the medical cannabis industry is understanding dosage and efficacy. Medical and pharmaceutical professionals depend on these analytics. Innovative technologies designed to solve these challenges are redefining how medical professionals and the pharmaceutical industry evaluate and comprehend medical cannabis.

The solution is a better understanding of what happens under certain, specific circumstances on a gram-by-gram basis. By tracking and analyzing every step in the product lifecycle, the Seed2Seed™ direct, real-time feedback loop analyzes every gram grown and consumed.

AI and deep learning algorithms evaluate thousands of personalized treatment journeys to accurately establish correct dosing levels and averaged efficacy of product-ailment treatment.

This allows medical professionals to properly prescribe medical cannabis and produce better patient outcomes.

The Medical and Pharmaceutical Profession

A critical element absent in the medical cannabis industry is understanding dosage and efficacy. Medical and pharmaceutical professionals depend on these analytics. Innovative technologies designed to solve these challenges are redefining how medical professionals and the pharmaceutical industry evaluate and comprehend medical cannabis.

The solution is a better understanding of what happens under certain, specific circumstances on a gram-by-gram basis. By tracking and analyzing every step in the product lifecycle, the Seed2Seed™ direct, real-time feedback loop analyzes every gram grown and consumed.

AI and deep learning algorithms evaluate thousands of personalized treatment journeys to accurately establish correct dosing levels and averaged efficacy of product-ailment treatment.

This allows medical professionals to properly prescribe medical cannabis and produce better patient outcomes.

Improved Patient Experiences with Blockchain Technology

The medical cannabis industry is evolving at a rapid pace and solving challenges for each stakeholder is critical. Blockchain-based technologies provide the tools needed for improved experiences, benefitting every player involved.

Smart technology and transparency enhance the value chain. Cultivators can optimize the growing process and reduce compliance costs. Manufacturers profit from transparency and increased trust in suppliers. Retailers have traceable, transparent products to promote. Data helps understand consumer experiences and preferences to better serve the market.

Multiple layers of data tracking the lifecycle of every gram grown and consumed can supply essential dosing and efficacy information for all stakeholders. This allows cultivators to provide patients with repeatable results who are assured safe, approved, effective products.

Committing to transparency in the medical cannabis industry increases trust and improves the value chain from grower to consumer. Data, visible to everyone by simply scanning a QR code, advance the community and connects all stakeholders to the patient on a personal level.

The result: better patient outcomes.

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