The International Cannabis Alliance (ICA or InterCannAlliance) has been formed to foster collaboration between the marijuana industry players in the different regions of the world, such as Latin America, Africa and the Asia-Pacific regions.
The formation of this new group was spearheaded by New Frontier Data and CannaTech. New Frontier Data is a global authority on data and analytics for the cannabis industry. CannaTech has carved out a name for itself for advocating for cannabis education and connectivity across the world.
The objective of forming ICA was to inform and educate thought leaders and players in the cannabis market about effective, responsible and transparent practices that those in emerging markets should copy from the more developed cannabis regions like North America (Canada and parts of the US in particular).
The speed with which new cannabis products are being taken to the market raises concerns that mistakes may be made when industry growth is so fast in regions that don’t have any experience in the different aspects of the cannabis industry. InterCannAlliance hopes to share the lessons that various regions have learnt so that the emerging markets/regions avoid making any mistakes that may have already been made and corrected in other regions.
ICA also plans to share any expected opportunities in the cannabis industry so that participants can plan how to take advantage of those opportunities.
Each region is different in terms of the challenges that it is likely to face when embracing cannabis. For example, the Africa region may face challenges of obtaining funding and technical expertise while the Asia-Pacific region may not have a problem getting manpower with the required technical expertise.
ICA intends to engage the players in the different regions so that ways around those unique problems can be found.
The International Cannabis Alliance will be holding symposiums in the different regions to foster its objectives and mandate.
The first of those symposiums will be held in Latin America next year (2019). The one-day event will only be open to those who have been invited to attend.
Different entities will be in attendance to deliver keynote addresses about different aspects of the industry. For example, Hoban Law Group will discuss cannabis regulation while SteepHill Labs will talk to the invitees about laboratory testing of cannabis and cannabis products.
The cannabis industry has been fragmented for too long. For example, marijuana companies in US states that have legalized medical or recreational marijuana are compelled to be involved in the entire cannabis value-chain (breeding, cultivation, processing and sometimes distribution) since cannabis cannot cross state lines. Such fragmentation stands in the way of unified growth in the industry.
The ICA initiative is therefore a welcome development since it will save different regions and players from trying to reinvent the wheel and yet they can build upon what has already been done elsewhere.
Earth Science Tech, Inc. (OTCQB: ETST), Global Payout, Inc. (OTC: GOHE) and other marijuana companies definitely welcome any attempt to unite the players in the cannabis industry so that they can work together for the benefit of the people they serve.
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