Information Technology Will Shape the Future of the Cannabis Industry
As companies move to maximize production, protect intellectual property, and navigate complex domestic and international regulatory hurdles, many are turning to radio frequency identification.
The cannabis industry is always moving at lighting speed. Whether it’s the darling of the stock market one week or the terrible investment bubble the next, the global development of international cannabinoid business never stops. As big tobacco, alcohol and eventually pharmaceuticals move in to acquire or invest in the space, data has become the measuring stick of success.
No longer relegated to that “friend-of-a-friend” who can hook you up, the cannabis industry has seen a massive upheaval in the last five years, with companies like Canopy Growth Corp. and Aurora Cannabis growing from microcap fledgling businesses in 2015 to giant billion-dollar behemoths within just 36 months, capable of shifting power in politics, distribution and technology. What started with master growers working with a narrow field of genetic clones has multiplied to teams of PhDs producing, cultivating and maximizing a spectrum of cannabinoids for use in a myriad of products ranging from skin-care goods to lollipops.
