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This Company Uses Bitcoin Blockchain For Medical Marijuana DNA

This Company Uses Bitcoin Blockchain For Medical Marijuana DNA

A molecular information company called Medicinal Genomics (MCG) has partnered with 12 cannabis processors and cultivators to develop genomics-based safety and quality standards, and they are using the bitcoin blockchain to track DNA sequencing cannabis strains.

Inconsistent Strains Pose Challenge

The lack of consistent cannabis strains from the same grower can pose medical challenges for patients since even slight changes in a plant’s genetics can impact the strain’s effectiveness. Many patients require a specific cannabis strain for effective treatment. When plant genetics vary, patients can lose symptom relief.

While some U.S. states have passed testing requirements for microbial requirements, heavy metals, yeasts and molds, no laws or guidelines enforce genetic consistency of the strains used by patients for medical reasons.

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Technology Enables Strain Verification

MGC has created technology for use with hemp and cannabis that allows growers, processors and testing laboratories to implement strain verification and stability programs to ensure product consistency and safety.

These programs provide confidence to patients using these strains and strain-based medicines. They also reduce product liability risk for growers and processors. Doctors and regulators who were previously unaware that genetic variance and cannabis effectiveness is of significant concern are commending these programs.

Kevin McKernan, chief scientific officer of MGC, said current industry nomenclature for characterizing a strain’s medicinal benefits has no reliability, consistency or association with the effectiveness of the product patients use. Clinically-validated next-generation sequencing techniques now provide the tools to decipher the genetics driving the medicinal properties of cannabis strains that patients use.

Blockchain Manages Intellectual Property

“Furthermore, this information can be linked into a distributed ledger to serve as the basis for claims about intellectual property, branding, and scientific discovery in the advanced breeders market,” McKernan said.

DNA sequencing is employed through MGC’s proprietary StrainSEEK™ service to record the cannabis’ and hemp strains’ unique fingerprint into the bitcoin blockchain database. Such genetic registration ensures the safety, consistency and branding integrity of strains used in the treating patients in states where medical cannabis is legal.

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An Improved Medical Marijuana Industry

Kevin Murphy, managing director at High Street Capital, one of the early partner companies planning to utilize StrainSEEK™ for its medicinal cannabis operations and some of its holdings, said MGC is bringing consistency, quality and reliability to the medical cannabis industry.

“Using the most advanced scientific tools to ensure quality and patient safety is essential as we expand our national footprint of high-quality medicinal cannabis operations,” he said.

Medicinal cannabis is estimated to be a $6 billion industry and increasing at a 24 percent combined annual growth rate, according to Cowen and Company’s September 16, 2016 equity research report.

Twenty-five U.S. states, plus the District of Columbia, have legalized medical cannabis and more are expected to join the list in November 2016. The industry, however, is highly fragmented and nascent in its use of safety and quality standards governing the regulated food or crop industries. its parent company, to generate and analyze the DNA information.

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Daily Financial News

Czech Aug Industrial Production Rebounds Sharply

Czech industrial production surged in August, after falling sharply in the previous month, figures from the Czech Statistical Office showed Friday.

Industrial production expanded 13.1 percent year-over-year in August, reversing a 14.1 percent plunge in July. That was well above the 8.3 percent climb expected by economists.

On a working-day-adjusted basis, industrial production advanced 7.7 percent in August from a year ago.

Manufacturing production grew 16.6 percent, while mining and quarrying output declined by 4.6 percent.

Month-on-month, industrial production increased a seasonally adjusted 12.1 percent in August.

Separately, the statistical office revealed that construction output decreased 5.9 percent yearly in August, following a 16.3 percent slump in the prior month. Compared to July, construction output gained 0.8 percent

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Daily Financial News

New Zealand’s first Fairtrade Climate Neutral Coffee

Fairtrade have launched New Zealand’s first climate neutral coffee, which not only helps fight climate change, but also supports communities in developing countries. In partnership with Countdown, the Climate Neutral Coffee is exclusively available at Countdown as part of their Macro brand.

Fairtrade Climate Neutral Coffee means that the coffee production, from the farm right through to the supermarket shelf, has no negative impact on the climate. To achieve this, all participants in the supply chain first work to reduce their emissions and then offset the remaining emissions through the purchase of carbon credits from Fairtrade coffee farmers.

The carbon credits are generated by climate projects in Fairtrade farming communities, such as reforestation projects in Peru, the country where the coffee originates. These initiatives help Fairtrade farmers not only to combat the impact of climate change but also to earn additional income from the sale of their carbon credits.

Countdown partnered with Fairtrade Australia & New Zealand to develop the Climate Neutral Coffee exclusively for their Macro Organic range. The innovative product maintains Countdowns commitment to providing great quality products, while also helping to minimise their impacts on the environment.

James Walker, Countdown General Manager of Corporate Affairs says, “We’re pleased to extend our range of Fairtrade certified products, and be the first to launch a Climate Neutral Coffee in New Zealand.

“Demand for certified products continues to increase and this launch showcases our commitment to providing ethical and sustainable choices to our customers. The range is not only quality Arabica coffee, but it is also organic, Fairtrade certified and Climate Neutral.”

“With stores all around New Zealand, doing our bit to reduce our carbon footprint and operate sustainably is something the Countdown team is passionate about. In June this year we won the Ministry for the Environment’s Green Ribbon award in the ‘Resilience to Climate Change’ category for our work in increasing our energy efficiency and reducing our carbon emissions. We are actively working to improve how we do business to reduce the impact we have on the environment.

Molly Harriss Olson, CEO of Fairtrade New Zealand says, “We applaud Countdown for being a market leader in sustainability and are proud to partner with them on this innovative range. By choosing Fairtrade products, consumers are supporting a global system which is empowering and enabling 1.65 million farmers in 74 countries to adapt to climate change,” says Mr Walker.

“What makes Macro Fairtrade Climate Neutral Coffee truly unique is that the carbon compensation also takes place in the Fairtrade coffee supply chain. This means that Fairtrade farmers and their communities are benefitting from a fair price for their coffee as well as additional income from the carbon credits.”

All Fairtrade Carbon Credits are certified by Gold Standard, an organisation specialising in climate security and sustainable development. Gold Standard works to maximise the impact of climate and development interventions by creating robust standards for responsible management of the planet’s resources. Together Fairtrade and Gold Standard are uniquely placed to play a part in the global response to climate change

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USD/JPY eases from highs, back to 103.80 ahead of NFP

After reaching fresh highs above the 104.00 handle on Thursday, USD/JPY has now slipped back to the 103.85/80 band.

USD/JPY attention to Payrolls

Despite the current slide, spot keeps its rally intact at the end of the week, advancing for the second consecutive week and up around 4 cents since recent lows in the 100.00 neighbourhood seen in early September.

Along with the continuation of the selling bias around the Japanese safe haven, the greenback has been gathering extra pace backed by positive results in the US calendar and rising speculations on a Fed’s rate hike at the December meeting.

Ahead in the session, US Non-farm Payrolls are expected to show the economy has added more than 170K jobs during September, while the unemployment rate is seen at 4.9%. In addition, FOMC’s S.Fischer, L.Mester and E.George are due to speak in Washington, keeping the focus on the buck.

USD/JPY levels to consider

As of writing the pair is losing 0.13% at 103.80 and a breakdown of 101.99 (55-day sma) would aim for 101.83 (20-day sma) and finally 100.07 (low Sep.22). On the other hand, the next up barrier aligns at 104.33 (high Sep.2) ahead of 107.48 (high Jul.21) and finally 108.30 (200-day sma).

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