The cannabis industry is embracing various innovative technologies like blockchain so that they can increase the growth of the sector efficiently.
FREMONT, CA: With time, the demand for recreational marijuana is increasing, and it is expected that it will increase more in the future. Today, more and more states are legalizing the utilization of medicinal and recreational cannabis. Therefore, the market is also evolving and turning towards cutting-edge technologies for optimizing everything, starting from crop management to distribution.
Here are some of the technologies which are impacting the world of cannabis production.
In the United States, cannabis is still illegal on the federal level due to which several cannabis companies are struggling to find banks who will work with them because they are not legally allowed to accept money from the cannabis-associated organization. Therefore, there are several cannabis and medical marijuana organizations who are adopting blockchain technologies for cryptocurrency payments and tracking transactions.
The objective of such companies is to utilize blockchain so that they can secure the system while monitoring the growth and shipping of cannabis plants and products. This system is known as the seed-to-sale tracking in the industry.
Another primary challenge for cannabis companies is to develop a legitimate business or receive protection and insurance, which the other businesses are allowed by the government. To tackle this problem, many dispensaries are embracing advanced security technologies so that they can protect themselves from theft and criminal activities. Furthermore, many companies are using cloud-based access control for securing their valuable storage.
With the help of modern access control systems, access to dispensaries becomes more flexible and safer as it offers keyless entry solutions and can be implemented with various software like security cameras and alarms. It will also help the companies to keep away unauthorized staff and customers from certain areas and secure the products.
Artificial intelligence is impacting immensely in the cannabis industry. With the help of AI, the growers of cannabis can optimize environmental changes and manipulate the strain of the product. AI will also help the plants to adapt to the desired CBD level and transform the genetic makeup of the plant so that it can produce the type of strains that has demand in the market.