Cannabis users experience a wide range of physical and mental effects depending on a person’s age, genetics, diet, and other factors, which means that a strain’s purported benefits or attributes may not apply to every individual that consumes the drug.
MyDx Inc. (OTCQB: MYDX) has developed an innovative chemical sensor that instantly creates a chemical profile of the drug and automatically learns what chemical make-up helps patients achieve their desired outcome – whether it is euphoria or pain relief. With an affordable price point and convenient mobile app, the technology empowers individuals to take health into their own hands and ensure they are consuming safe and effective products.
In this article, we will take a look at the company’s innovative technology and some new additions that have turned it into a powerful tool for both medical and recreational users, as well as potentially anyone in the future as it expands beyond the cannabis market.
The cannabis industry can be difficult to navigate when it comes to determining the right strains to address certain ailments. While strains like Charlotte’s Web may be well-studied for conditions like epilepsy, countless others strains are misleadingly named and there is very little standardization throughout geographic regions. These dynamics make it difficult for medical marijuana patients to get the medicine they need to alleviate certain conditions.
MyDx leverages the power of big data and machine learning to determine what strains may be a good fit to address specific medical issues. For instance, the app collects data from thousands of other MyDx users to determine how certain cannabinoid profiles work in alleviating specific conditions. Strains with a similar profile – verified through a chemical analysis – may be recommended for a condition where many other users reported a benefit.
The technology addresses two of the industry’s big concerns – a lack of standardized strains and a lack of data on what works best for certain conditions.
In addition to making these suggestions, the technology automatically learns how a given user responds to various cannabinoid profiles in order to predict how they’ll respond to entirely new strains of cannabis before trying them. A user who has recorded sensitivity to THC in the past, for instance, may automatically be warned that a THC-heavy strain may cause issues for them.
MyDx plans on letting advertisers promote their strains in the Recently Tested section of the app or in the “feeling search algorithm” by sharing them with the community. For instance, a local dispensary in Colorado may have their strain analyzed and promoted to specific users within the state that may be seeking exactly that type of feeling or ailment relief.
By combining hardware with software, this model also puts the company on the same playing field as tech companies like FitBit Inc. (NYSE: FIT), Lifelogger Technologies Corp. (OTC: LOGG), and bBooth Inc. (OTC: BBTH) in terms of personal tracking and hardware integration. These companies have developed hardware technologies that they monetize through software over time using a crowd-sourced user base model similar to MyDx.
MyDx is also targeting end markets beyond cannabis in the near future, including water, air quality, and food testing on a consumer level, which opens up the market to compete in practically limitless numbers of other chemical analysis fields. All of these chemical tests are housed in one convenient, smart phone style device with interchangeable sensors depending on the type of material being tested.
- OrganaDx– Initially detects the most common pesticides linked to cancer to help consumers avoid harmful foods products.
- AquaDx– Tests for water contaminants, such as BPA, arsenic, uranium, and bacteria that can prove to be harmful to consumers over time.
- AeroDx– Measures elements of the Environmental Protection Agency’s Air Quality Index to determine the safety of indoor and outdoor air.
- CannaDx– Tests for 25 important chemicals found in cannabis, including cannabinoids and terpenes that could have medical importance.
MyDx trades with a market capitalization of just $22 million, which represents a fraction of its potential if successful in launching into just one of its target end markets. With an initial focus on cannabis, the company is filling a very real need in a rapidly growing market, while its commercialization strategy mirrors that of many other successful companies. The potential to move into other areas of personal chemical analysis represents icing on the proverbial cake.
For more information, visit the company’s website at www.cdxlife.com.
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