TORONTO, Nov. 1, 2017 /CNW/ - Alternate Health Corp ("Alternate Health" or the "Company") (CSE:AHG) (OTC:AHGIF), an international, vertically-integrated medical cannabis company, today announced a renewed focus on the U.S. market with the launch of the new alternatehealth.com domain while confirming attendance at Devcon3, hosted by Ethereum, a Blockchain protocol whose value skyrocketed from $72 million to $28 billion in just 2017.
"Alternate Health is growing in momentum across all of our verticals, boosting our visibility in the American medical cannabis market," says Dr. Michael Murphy, CEO of Alternate Health. "With the launch of our FlorPass software system and developments in adding Blockchain technology, Alternate Health is well prepared for this surge in interest in the United States."
Alternate Health announced the Company's 12-month projections in a press release on October 12, 2017, anticipating significant revenue from Q4 2017 to Q3 2018. A key driver of this growth will be CanaPass and its U.S. equivalents, like FlorPass. As the only system that connect medical cannabis patients with physicians and providers securely and transparently, Alternate Health's Blockchain ledger will assure compliance and decrease fraud in emerging cannabis markets across the United States.
At Devcon3, Alternate will be recruiting the top developers and meeting with potential partners to expand on two key priorities:
- Developing an application for the automated payment of cannabis using cryptocurrency for B2B cannabis purchases based on smart contracts for payments on a blockchain. By using an If-Then premise, this will ensure payments are automatically sent once a series of predetermined events has been achieved. For example, dispensaries could automatically generate a purchase order from a distributor once a product's inventory falls below a certain point, and payment for the product would be automatically released upon delivery.
- Developing a Blockchain ledger to track appropriate tax payments associated with the legal cannabis industry and providing a platform for licensed growers and retailers to exchange their cryptocurrency for cash to submit accurate, automatic tax payments. This ledger will be fully transparent to government officials and tax agencies to ensure proper, on-time payments from licensed cannabis entities.
"Now that Alternate Health's CanaPass is proven and operational in Canada this quarter, it's time to take a global approach to our business," says Dr. Murphy. "Alternate Health is committed to continuing development and evolution in this exciting space and looks forward to meeting the top programmers and business minds that Devcon3 has to offer."
Alternate Health's Blockchain ledger will confirm the patient's identity and age, document each legal anonymized sale in an unchangeable ledger, and verify the patient has an active marijuana recommendation from a licensed physician in strict medical states. The personal health records created on the CanaPass EMR will then be encoded and stored on the Blockchain with a private key that would grant access only to specific individuals.
In Canada where medical marijuana is federally legal and reimbursable by some health insurance plans, receipts of cannabis purchases and physician visits can be stored on Alternate Health's Blockchain and be automatically sent to insurance providers as proof-of-delivery for payment. The ledger can also be used for general cannabis management, such as supervising patient outcomes, regulation compliance, and storing product test results.
About Ethereum and the Devcon3 Conference
Ethereum is the protocol of choice for smart contract development. While smart contracts can be encoded on any blockchain, Ethereum is considered the most advanced for coding and processing smart contracts due to its unlimited processing capability. In the cannabis industry, smart contracts provide an unprecedented level of trust, transparency, safety and accuracy that is needed to ensure stability and continued growth in this sector.
Taking place in Cancun, Mexico from Nov. 1-4, Devcon3 is a gathering of top developers from the Blockchain development and business space. As the protocol's flagship developer conference, Devcon3 sold out July 2017 and features 128 sessions over four days. The core Ethereum team will be in attendance, with co-creator Vitalik Buterin and others speaking on the future of the ethereum protocol and cryptocurrencies.
About Alternate Health Corp.
Alternate Health Corp. (CSE: AHG, OTCQB: AHGIF) Alternate Health has established multiple arms-length operations within the medical cannabis industry, each of which drives consumers, data and strategic opportunities to the company's other verticals. This sophisticated cross-integration of the company's enterprises has positioned Alternate Health as one of the only cannabis companies that delivers consistent revenue and intellectual property without growing, manufacturing or distributing the cannabis plant. Through its software solutions, data analytics, and patented delivery systems, Alternate Health's goal is to be the global authority on scientific and clinical support for cannabis in regulated markets. Alternate Health is well positioned to reinvest internal operating cash flow in its platform over the long term, creating an attractive investment profile for its shareholders.
Alternate Health resides in the cannabis sector along with companies like GW Pharmaceuticals (OTCMKTS:GWPRF), AXIM Biotechnologies Inc. (OTCMKTS:AXIM), Canopy Growth Corporation (TSE:WEED), and Aphria Inc. (TSE:APH). Alternate Health is differentiated from other cannabis companies by its focus on ancillary services for patients, healthcare professionals and regulatory providers rather than selling a commodity. For more information about Alternate Health Corp., visit www.alternatehealth.ca
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations, business prospects and financing plans, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward looking statements.
SOURCE Alternate Health Corp.
For further information: Investor Relations Contact: 1.604.512.7122, Nancy Goertzen, CPIR, firstname.lastname@example.org