NetworkNewsBreaks – India Globalization Capital, Inc. (NYSE: IGC) Looks to Blockchain Technology as Possible Solution for Issues Facing Cannabis Industry
India Globalization Capital, Inc. (NYSE American: IGC), a developer of cannabis-based therapies to treat a variety of life-altering conditions, this morning announced plans to leverage its existing team of technology and health care experts in order to develop methods of utilizing blockchain technology in areas such as product identification assurance (PIA). The importance of PIA was reaffirmed in a recent study published by JAMA, which indicated that nearly 70 percent of all cannabidiol products sold online are mislabeled. “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,” Ram Mukunda, CEO of IGC, stated in the news release. “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. This would include addressing issues such as transactional difficulties, inadequate product labeling, product identification assurance (PIA) and product origin assurance.”
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India Globalization Capital, Inc. (NYSE American: IGC), a developer of cannabis-based therapies to treat a variety of life-altering conditions, this morning announced plans to leverage its existing team of technology and health care experts in order to develop methods of utilizing blockchain technology in areas such as product identification assurance (PIA). The importance of PIA was reaffirmed in a recent study published by JAMA, which indicated that nearly 70 percent of all cannabidiol products sold online are mislabeled. “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,” Ram Mukunda, CEO of IGC, stated in the news release. “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. This would include addressing issues such as transactional difficulties, inadequate product labeling, product identification assurance (PIA) and product origin assurance.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
