In Germany, the law now says that all health insurance companies have to pick up the tab for medical cannabis. But there is a procedural and scientific process to establish as the country mainstreams cannabis.
Part I of II: It is not news anymore in the United States that the cannabis reform that kicked up the conversation at the state level just four years ago has now gone global. Canada’s recreational market which will begin this summer, nationally, has already demonstrated that what started in the U.S. states (if not Holland before that) is now a world-wide movement if not legit industry.
BioTrackTHC has always been in the business of compliance and tracking. Although they started with a product designed to help reel in the opiate prescribing problem in Florida, known as Bio-Script, Colorado cannabis businesses expressed a need, and the company began to pivot their product to meet the stringent compliance and tracking requirements of cannabis.
The current environment surrounding legal cannabis is riddled with inconsistencies, often being referred to as the “Wild West.” From state to state, not only does the legality of cannabis vary, so do the regulations and standards for cannabis businesses. To rein in these inconsistencies and provide the Federal Government with necessary assurances of high standards, Joshua Laterman founded the National Association of Cannabis Business (NACB) to address national standards and policy.
On July 1, 2018, changes to federal legislation are set to open up an already liberal marketplace, putting Canada on the cusp of fully legalizing cannabis for recreational purposes – countrywide. Canadian cannabis companies, as well as the peripheral businesses, no longer need to operate on the fringes of the business world and many are ready to take cannabis technology where it has never gone before.
Most growers will tell you that despite the expansion of technology in the cannabis sector, little of it has trickled down to the level of the gardener. Most farmers still rely on a good old-fashioned notebook. The status quo is no integration, little automation, and absolutely no data analysis on environmental conditions.
The growth of any industry yields not only an influx of data but also the need to access this data. Real-time intelligence and analytical platforms are crucial to providing the data insight needed to navigate this new terrain and make informed business decisions.
Combining the complex regulatory requirements of the cannabis industry with the pace of today’s world, Grasshopper Kiosks has taken the traditional vending machine and given it a modern-day makeover to help streamline the retail process in many dispensaries.
While the federal government continues to tighten the clamps on the cannabis industry, compliance and tracking of business transactions that include banking, payroll, and distribution of products have never been more critical.
The cannabis industry is one of many industries benefiting from what blockchain technology has to offer. We’re going to take a look at six companies who are leveraging blockchain solutions in the cannabis industry. But first, we need to know exactly what blockchain is and how it works.
Financial technology, or FINTECH, has established new platforms for many businesses and companies. With improved capabilities, firms are catching on to alternative forms of banking that offer automation of various financial processes ranging from payments to billing and invoicing.
Software as a Service or SaaS is vital to keep many processes moving and improve the level of transactions between buyers and sellers. The cannabis industry has seen much improvement in areas that are typically bottlenecks in production and sales such as, e-commerce, customer relationship management (CRM), seed-to-sale, business aggregators and inventory management. The emergence of these B2B services empower not only cultivators and dispensaries but also customers.
