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The Legalization of Cannabis Grows New Strain of Tech Giants Legalization Lifts Limitations on Technological Advancements in the Cannabis Market Criminalization of cannabis limited advancements in cultivation, operations and distribution. Therefore, the knowledge gained had to be concealed, and access to technology was restrictive. Consequently, tech companies are now jumping at the opportunity to dip their toes into the cannabis market. Under the light of day, the race to bring the next tech tool to market is a competitive one. The cannabis market in Canada is set to reach $6 billion CAD. In addition, global estimates conservatively set the world market value at $146.4 billion USD by 2025. This is more than enough incentive to peak the interest of tech companies worldwide. For instance, at least thirteen tech companies, focused on the cannabis market in Canada, trade on the North American stock exchanges.
These represent a few of the more impactful technological advancements in the cultivation and distribution of cannabis: From Currency to Cannabis: Blockchain Technology is Ideal for Managing Marijuana Transactions Managing the financial operations around cannabis sales and purchasing can be tumultuous due to the nature of the industry. Moreover, transactions are under the table in some companies, while for others they feel they cannot trust the options available. As a result, banks and financial organizations are not willing to take the chance on investing in the cannabis market. Blockchain has become one solution to bolster the security of cannabis transactions. Subsequently, developed in 2008 by Satoshi Nakamoto, blockchain is a transaction ledger for cryptocurrency. Using blockchain technology allows companies dealing in cannabis and cannabis products to track the life of the sale from seed to retail. Therefore, this certifies not only the authenticity of the product, but the quality of the mother plants, as well as the reputation of all partners along the chain of supply. Blockchain stores information on a decentralized database. This information includes static (registry) and dynamic (transaction) data. As a result, all information stored through blockchain cannot be edited or retroactively added or altered. One of the most important benefits of this technology is that it ensures transparency amongst those involved in the transaction from start to completion.
Cannabis Clone Technology: Discovering and Duplicating Genetic Treasure Cannabis growers use cloning to duplicate high quality mother plants and ensure consistency in products. Front Range Biosciences is an example of how rewarding investing in technology can be. They are using new technology and genetic sciences to create quality strains that can be consistently cloned. In the first year of production, Front Range’s technology saw a yield of 200,000 clones. In 2019, they predict a yield of between two and three million. These results may seem shocking for only two years of effort, but the numbers are small compared to a food production crop like corn. Canadian-based, International Cannabis Corp (ICC) has invested heavily in strain, seed and clone technology, acquiring Green Gene Research Inc. Green Gene Inc. has been growing its strain and seed inventory over the past seventeen years, under a team of top geneticists and breeders. The acquisition will place ICC at an advantageous position to provide clone fulfillment services globally. ICC will be able to license and patent premium strains, sell seeds wholesale, and custom breed premium plants. As legalization of cannabis expands globally, so too will the technology. Cloning is imperative to the fulfillment of demand, especially the medical cannabis requirements across the world. Through its holdings ICC focuses on fulfillment of demand without compromising on the same quality found in crops grown under sun-kissed skies.
Growing Outdoors: Merging New Technology with Historic Methods Recreational vs. Medical The view on recreational cannabis is different from that of medical. The focus for medical marijuana products is aimed at mass production with quality medicinal properties, to be distributed quickly to those who need it. The recreational cannabis market plays on the level of wine connoisseurs and gastronomists. As a result, The elements that this market looks for is superior quality, limited availability, exclusivity, with a sensory experience to be savoured. A popular viewpoint amongst recreational growers is to take cultivation outdoors again, to return to organic soils and natural sunlight.
Indoor vs Outdoor The criminal nature of marijuana was the leading reason for growers to create indoor growing facilities. The benefit to being forced indoors was that growers quickly advanced environmental manipulation and control out of necessity. A second advantage was learning that cannabis strains have recipes of light, darkness, water, nutrients, and temperature to which they respond best. Therefore, being able to control the climate of the growing environment, allows growers a front row seat to the most minor changes as they happen.
Crop Monitoring Part of monitoring a crop is being able to sense the health of thousands of square feet of plants all at once. In this respect, high tech sensors, no larger than a phone, are stealing the show with the ability for the grower to view and adjust the growing environment online from anywhere. Certainly, Toronto-based tech company, Braingrid, and others in Canada, are pioneers in the global evolution of cannabis technology and science.
Resurgence in the Use of Greenhouses The greatest advancements in lighting and temperature control cannot replace the authentic results of the sun. Therefore growers turn to greenhouses for robust results, especially in recreational marijuana production. Above all, greenhouses are more cost effective than indoor facilities and require less staff overall but need a hands-on approach. As a result, outdoor and greenhouse growing requires a passion for the land and elements, with a dedication to the cycle of the crop. This option comes without the ability to hasten production through light and temperature manipulation, and the plants develop as they would if left in nature. For this reason, growing with historic methods while introducing complimentary technology, can yield those hearty and flavourful buds popular amongst recreational cannabis users.
The Infancy of Cannabis Technology In conclusion, criminalization for cannabis has stunted the technological growth of the industry across the globe. For example, with legalization, access to financial resources, educated professionals and versatile equipment, Canada is on a progressive trajectory. Tech companies have a holistic approach to all aspects of cannabis trade. From quality cultivation, to processing, distribution and the security of the entire supply chain, each principle is no less important than another. Above all, the health of the industry is in good hands, and it has finally been given the chance to learn, to develop and to bloom into maturity.