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.”
To view the full press release, visit http://cnw.fm/VL7nR
IGC is engaged in the development of cannabis based combination therapies to treat Alzheimer’s, pain, nausea, eating disorders, several end points of Parkinson’s, and epilepsy in dogs and cats. IGC has assembled a portfolio of patent filings and four lead product candidates addressing these conditions. The company is based in Maryland, USA. For more information please visit www.igcinc.us
More from CannabisNewsBreaks
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
For more information please visit https://www.CannabisNewsWire.com