NEW YORK, April 5, 2019 /CNW/ -- Over the past few decades, technology has been integrated into nearly every marketplace in the world. Businesses and consumers can now leverage technology to provide a more convenient and efficient experience. For instance, retailers are using technology to process payments quicker while financial institutions are using technology to keep track of transactions and monetary flow. The advancement of these various technologies has led to state-of-the-art inventions such as machine learning, artificial intelligence, and blockchain. In particular, technology has been recently tapping into the cannabis sector. The cannabis market is one of the fastest emerging global industries, despite regulatory conflicts. According to data compiled by MarketsandMarkets research, the global cannabis market was valued at USD 10.3 Billion in 2018 and is expected to reach USD 39.4 Billion by 2023. Additionally, the research projects that the market is expected to grow at a CAGR of 30.7% throughout the forecast period. Recently, cannabis companies have also begun to turn to advanced technology. Some companies are developing informative applications to accelerate business growth, while others strive to offer new experiences and educate consumers. Insofar, the cannabis industry is seeing new developments such as light systems, virtual and augmented reality, seed-to-sale blockchain networks and digital payment solutions. Nerds On Site Inc. (OTC:NOSUF - News) (CSE:NERD), Leafbuyer Technologies, Inc. (OTC:LBUY - News), Harvest One Cannabis Inc. (OTC:HRVOF - News) (TSX-V:HVT.V - News), Choom Holdings Inc. (OTC:CHOOF - News) (CSE:CHOO), Future Farm Technologies Inc. (OTC:FFRMF - News) (CSE:FFT)
Historically, many sectors avoided the cannabis marketspace because of legal matters. Now, the industry is seeing large investments from various public and private sectors as regulations are eased. Prior to the expansion of technology in the cannabis industry, businesses had to input data and manually keep track of customers and business operations each day. Now, Point-of-Sale systems and Soft-as-a-Service platforms are helping businesses automatically complete these tasks. With the use of technology, growers and businesses can utilize applications such as supply chain management or e-commerce management. Nevertheless, cultivators, distributors, retailers, and dispensaries are all running out of cannabis, causing a major shortage in throughout legal markets. "There are various solutions being crafted for the cannabis industry," said Jeffrey Zucker, Co-Founder and President of Green Lion Partners. "While many of these focus, especially at the point of sale, on easing the lack of banking availability for the space, compliance is where this tech is best suited. With an industry moving from unregulated to regulated, it is incredibly important for licensees to follow all applicable laws in order to maintain their business and to ensure that the industry is established in a professional manner. We will continue to see this technology woven into the cannabis industry in the coming years."
Nerds On Site Inc. (OTCQB:NOSUF - News) (CSE:NERD) also listed on the Canadian Securities Exchange under the ticker (CSE:NERD). Yesterday, the Company announced that it had, "filed its trademark application for its proprietary Cannabis IT in-a-Box solution, and that its Arizona expansion has kicked off with the launch of the first six NERDS ON SITE franchises.
"We have had an outpouring of interest in the Cannabis IT in-a-Box solution since we announced it and signed our first client in the last couple of weeks, filing the trademark is a necessary step in the progression of the buildout," said Mr. Charles Regan, CEO, NERDS on Site. "NERDS expansion in Arizona has begun with six franchises in Scottsdale, Tempe, Gilbert and the West Valley, representing a fantastic base for growth in the region."
- NERDS files trademark application for "Cannabis IT in-a-Box"
- First six NERDS on Site franchises open in Scottsdale, Tempe, Gilbert and the West Valley
- Each franchisee functions as an independent contractor, but has access to the entire Nerds on Site pool of talent and expertise, including a University of NERDology™ with more than 300 curriculum modules and another 10,000 through a partnership with ITpro.tv.
- 12 new NERDS will be attending New NERD Training - BootUp in May, including 6 in Arizona, 3 in Florida and 3 in Canada
"Breakdowns in technology and equipment can cripple any company, but are especially devastating to small firms who often don't have someone on staff to quickly address them," said Dave McLurg, NERDS Arizona area developer and launch leader. "Ninety-nine percent of Arizona businesses are small businesses, and of those, firms employing fewer than 20 employees are growing the fastest. NERDS ON SITE is excited to help Arizona companies round the clock—even functioning as a compact CIO and IT department when needed—so they can stay focused on what they do best and save people time."*
About Nerds On Site: Nerds on Site, a company founded in 1995, specializes in providing cost effective, leading edge solutions to Small and Medium sized Enterprise (SME), serving as the complete SME IT solution specialists. Nerds on Site was established in London, Ontario with current annual revenues of approximately $10,000,000. The company services over 12,000 clients per year with a superb 96.5% customer satisfaction rating. NOS's business model is based on Nerds sub contracts in Canada and a Franchise model for USA expansion. NOS was hand-picked by Apple Inc. in 2016 to become its mobile enterprise partner, pilot project is ongoing."
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Leafbuyer Technologies, Inc. (OTCQB:LBUY - News) is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer Technologies, Inc. recently announced that it launched Phase One of its multiphase blockchain initiatives on December 20, 2018. This first phase integrates with the Company's loyalty platform, Leafbuyer Loyalty. This launch creates a bridge for cannabis consumers to eventually complete monetary transactions electronically with dispensaries and product companies. Now, within the Leafbuyer Loyalty application, consumers can choose to create their own blockchain wallet, called the Leafbuyer Wallet. Immediately, when a consumer creates a Leafbuyer Wallet account at a participating dispensary, a link is sent through SMS to their mobile device. Through this link, the consumer can view their account, track all transaction history, and see their loyalty points. Leafbuyer Wallet consumers can visit their account at any time through their smartphone without needing to be onsite at a participating dispensary. Blockchain allows for a digitized, decentralized, secure environment in which transactions are made and the information is stored in a verifiable, permanent way. This leading, anti-fraud technology supports Leafbuyer's initiative to provide transparency with its customers and consumers. "The sky is the limit with blockchain," said Leafbuyer Chief Executive Officer Kurt Rossner. "The technology will help shape the cannabis industry and open doors to new revenue possibilities for Leafbuyer. We want to offer the highest level of transparency with customers, and blockchain will help us accomplish this goal."
Harvest One Cannabis Inc. (OTCQX:HRVOF - News) (TSX-V:HVT.V - News) is a global cannabis company that develops and provides innovative lifestyle and wellness products to consumers and patients in regulated markets around the world. BLOCKStrain Technology Corp. (TSX-V:DNAX.V - News) (OTC: BKKSF), creator of the first Blockchain-secured, fully-integrated IP tracking platform for the cannabis industry, recently announced that Harvest One Cannabis Inc. will employ BLOCKStrain's proprietary genome tracking software to collect and register its cannabis plant DNA and strains. By incorporating BLOCKStrain's cannabis strain authenticity and tracking platform - the Master Genome Strain and Clone Registration Program - into its sales program, Harvest One is expected to be able to confirm its medical cannabis strains are as labeled, providing its consumers with increased transparency and confidence about its products. Upon completion of the collection and registration of its strains, an initial 30 Harvest One products will carry BLOCKStrain's Seal of Authenticity, guaranteeing their origin and providing quality assurance. "BLOCKStrain's technology is intended to enable us to guarantee that our strain origins and content are exactly as labeled, providing medical consumers with a level of certainty they could not expect with similar, unverified products," said Grant Froese, Chief Executive Officer of Harvest One. "This increased level of quality control is in keeping with our mission build a global house of brands, providing lifestyle and wellness health products to consumers and patients in regulated markets."
Choom Holdings Inc. (OTCQB:CHOOF - News) (CSE:CHOO) brand is inspired by Hawaii's "Choom Gang"- a group of buddies in Honolulu during the 1970's who loved to smoke weed—or as the locals called it, choom. Choom™ recently announced that it had executed an agreement for cannabis distribution with ParcelPal Technology Inc. (OTC:PTNYF - News). ParcelPal is a technology-driven logistics company that connects consumers with local retailers to get their products delivered quickly and affordably. ParcelPal offers on-demand delivery of merchandise from leading retailers, restaurants, liquor stores and soon medical and recreational marijuana in major cities Canada-wide. Their technology handles the complete requirements of hyperlocal logistics by bringing the merchants and customers onto a single platform. President and Chief Executive Officer Chris Bogart from Choom states, "We recognize the importance of utilizing the existing technology of ParcelPal's mobile app in concert with their outstanding track record of home delivery execution. We believe this will provide an exceptional customer experience and we are excited to offer this to our valued customers upon the upcoming rollout of our retail strategy."
Future Farm Technologies Inc. (OTCQB:FFRMF - News) (CSE:FFT) is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. Future Farm Technologies Inc. recently announced that the Canadian Securities Exchange (the "CSE") approved the listing of the common shares of NexTech AR Solutions Corp. NexTech's shares began trading on the CSE on October 31, 2018 under the trading symbol "NTAR". NexTech is bringing augmented reality to the Cannabis market by turning 2D products into exciting 3D consumer experiences. NexTech is currently developing a proprietary and disruptive Augmented Reality (AR) advertising and education platform that uniquely engages by connecting brands and retailers through a fully immersive 3D AR experience called Native AR. NexTech launched its ARitize™ app in August 2018, which is capable of hosting many brands 3D objects and augmented reality experiences. "NexTech's vision is to merge augmented reality, a high growth technology, with Cannabis and other industries. We have been hard at work over the past year building a team and technology platform which is focused on bringing state of the art augmented reality to the cannabis industry and other industries," says Evan Gappelberg, Chief Executive Officer of NexTech.
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