Blox Labs Inc. and Cannvas MedTech Inc. Sign LOI for CannaBLOX Data Analytics
Toronto, Ontario / TheNewswire / September 11, 2018 - Blox Labs Inc. (“BLOX” or “the Company”) (CSE: BLOX) (Frankfurt: BR1B), a technology development company focused on creating best-in-class software solutions driven by emerging trends in Blockchain, Smart Contracts and Decentralized Applications is pleased to announce the signing of a letter of intent (the "LOI"), with Cannvas MedTech Inc. (“Cannvas” or the “Company”) (CSE: MTEC) (Frankfurt: 3CM), a leading business technology company in the cannabis space, to negotiate, in good faith, a data analytics agreement with respect to “CannaBLOX”, a Blockchain-based smart contract supply chain management platform for the legalized Cannabis industry that BLOX is developing in partnership with Liberty Leaf Holdings Ltd. (CSE: LIB) (OTC: LIBFF) (FSE: HN3P).
Under the terms of the Agreement, the Parties will assess, amongst other endeavors, various synergies that may exist through the utilization of Cannvas Data’s analytical modeling framework and the various data capture opportunities that the CannaBLOX platform would provide. Cannvas will develop specific parameters within its existing Cannvas Data framework to collect and analyze transactional and industry data from the CannaBLOX platform, and their strategic industry partners. CannaBLOX would in turn gain access to a broad industry-level dataset as they rollout their preliminary module during a beta test phase.
Analytics from CannaBLOX will provide Cannvas Data with the additional insights of supply chain management, dissemination of cannabis products and their volumes within Canada, and various other transactional information from its seed-to-sale solution. Our mission with Cannvas Data is to share and analyze data from our credible source to enhance our ongoing smart contract and blockchain applications currently with CannaBLOX. Cannvas Data will continue to leverage existing partnership databases, site traffic and contextual technology for user engagement purposes to further its analytical solutions for the global cannabis community. The Parties have agreed to a discovery period whereby the technological specifications of the integration will be setup by Cannvas Data, and will work together towards a definitive partnership agreement within the next 60 days.
Jeff Zanini, Blox Labs CEO commented, “This partnership is most synergistic with our recent platform announced last week “AiBLOX”, which is key in capturing analytics through Machine Learning (ML), and Artificial Intelligence (AI) data. The partnership with Cannvas MedTech, who are a leader in the data space for medical marijuana will push our project forward on many fronts”.
Shawn Moniz, CEO of Cannvas Medtech adds, “Performing analytics on a variety of datasets is our bread and butter with Cannvas Data. Infusing our existing data with data points provided from a seed-to-sale platform further enriches our ability to provide end-to-end customer behavioral analytics, industry trend analysis, and much more now that we can analyze the ‘pre’ and ‘post’ customer journey.” He continued, “We are excited to partner with BLOX Labs to explore how best to analyze our cannabis industry data together”.
About Blox Labs
Blox Labs Inc. is a technology development company focused on creating best-in-class software solutions driven by emerging trends in Blockchain, Smart Contracts and Decentralized Applications. BLOX is helping customers with solutions for business problems from proofs of concept through execution. The Company is currently piloting blockchain solutions for supply chain management and improvement as well as other areas. Most recently, BLOX announced the launch of two internally developed platforms; Blockchain-as-a-Service offering, “BLOXsmart”, and “AiBLOX” that focuses on delivering artificial intelligence for Blockchain activities. BLOX is actively targeting partnerships and strategic acquisitions of growth companies.
Blox Labs Inc.
CEO and Director
About Cannvas Data
Cannvas Data is pioneering to be the social and census data of the cannabis industry by leveraging advanced technology, machine learning algorithms and scientific and medical research data to provide meaningful insights to the global cannabis community. Operating as part of the Cannvas.Me platform, Cannvas Data analyzes a multitude of data points captured from those using medical and adult-use cannabis to improve their health and wellness. The platform is LP/REC agnostic which means it is not biased by the personal drivers of any one company or institution, and it is continuously evolving and adapting to users and recognizing and learning from changing trends. For more information visit: www.cannvasdata.com.
About Cannvas MedTech Inc.
Cannvas MedTech is a leading business technology company in the cannabis space. We design and build customer-centric solutions that enable our partners to harness the power of data to truly understand their customers, industry, and key business drivers.
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