What Role is Tech Playing in the Market for Legal Cannabis?

0
15

For investors and producers alike, legal cannabis has been a gold mine of new opportunities. As states like California and Washington and countries like Canada and Uruguay have introduced legislation to make cannabis legal for medical and recreational use, producers have begun exploring new applications and ways of processing cannabis, from CBD oil to edibles.

While there has been plenty of coverage of dynamic cannabis companies and bold innovators, a big part of the story has been happening behind the scenes, in the tech that makes responsible cultivation, processing, and sales of cannabis possible.

But what is cannabis tech, how does it work, and what role is it playing in the emerging cannabis market?

Cannabis and Compliance

Just because some regions have moved to legalize cannabis use doesn’t mean there are no regulations around how it can be produced and sold. In fact, in countries like Canada, the decision to change the legal designation of cannabis was made in part to bring cannabis production and consumption more fully under government control.

In order to stay compliant with these regulations, producers need to keep track of huge amounts of data. Every gram of cannabis produced must be tracked from seed to sale so that inspectors can enforce quality control and ensure cannabis products don’t end up in the hands of minors, and profits don’t go to criminal organizations.

For this reason, companies that want to use cannabis tracking from the experts in compliance technology are turning to solutions like the dynamic Ample Organics platform, a comprehensive tech tool that helps producers stay compliant at every stage of the growth cycle.

How Tech Streamlines Production

Cannabis producers don’t just rely on tech for tracking, however. They also use software platforms to coordinate production, keep track of batch testing and quality, handle e-commerce with other businesses and customers, and work with physicians to deliver medical cannabis prescriptions to patients.

These tech platforms have not only made it easier for companies to handle the day-to-day aspects of such a complicated business; they have also made the sale of cannabis both easier and more secure.

Cannabis payment programs that put age verification limits in place help guarantee that cannabis is not sold to minors, while national tracking systems help cannabis producers work with law enforcement to ensure that if cannabis products do end up in the wrong hands, every stage of the production and sales process has been documented, helping to narrow the focus of any investigation that might need to happen.

The innovation and investment on the part of cannabis tech companies has had a huge and often underappreciated impact on the overall cannabis market.

By making it easier for producers to stay compliant with regulations, and by helping to make cultivation, processing, sales, and delivery more secure, these platforms have made the industry as a whole more reliable, responsible, and profitable.