As the cannabis market grows, so does the use of technology to further propel the industry. Those involved in the cannabis plantation are no longer retailers or cultivators; they are now a host of technology incubators that are capitalizing on cannabis.
There was a time when the consumption of cannabis was banned and was considered illegal. However, in the researchers, it has been found that cannabis can retreat some of the illness. Though cannabis is not a permanent treatment, they certainly offer relief to the pain.
Fintech Innovations In The Cannabis Industry
The world has changed in the last decade and has changed its perception regarding cannabis. The cannabis industry has seen some of the major technological changes in the sectors that have helped it thrive in the market.
Let’s have a look at how technologies have helped the cannabis industry reshape itself.
App-Based Retail
The legalization of Marijuana with 0.3% THC or less has changed the process in which people buy cannabis. Gone are the days when, to buy one ounce of cannabis, you need to meet with the seller behind a convenience store. With the law, authorized dispensaries have the authority to sell cannabis that is low in THC concentrations.
Technology has helped retailers to further streamline marijuana payment processing by app-optimized online stores where people are allowed to make orders and receive Marijuana at their doorsteps.
DNA Sequencing
As we know that the Cannabis Sativa plant is a wonder of nature and has more than a hundred chemical compounds affecting your brain differently. Hence, it leads to a Robust market of products and creates problems with the product regulations.
However, with the modern genomic system, we might be able to skewer out its full potential. DNA sequencing is one of the technologies experts believe will help extract the right chemical compound from the cannabis plants. And hence, we will be able to maintain the THC percentage with the right proportions.
Personalized Products
One of the most common challenges everyone faces is finding the right THC and CBD in the cannabis plant. While specific CBD strains have a reputation of mellowness or high intensity, there are still a lot of options out there that can be confusing.
Some companies are already paving a path for new methods of personalizations. In the future, this technology may be used by Marijuana retailers to combine this testing methodology to isolate individual personalized products.
Efficient Growing Light
One of the problems with Marijuana cultivation is that this plant is voracious for a wide spectrum of light. Cannabis Sativa is a tropical plant, and in the tropical region, the sun provides everything that the plants need. But large scale indoor grow operations directly rely on high-intensity light bulbs.
With the LED technology, which has revolutionized the lighting market, cannabis cultivation has found a reliable light source. NASA has already experimented and approved that LED light can be used for plantation and cultivation, and many Marijuana cultivators have already transitioned to this method.
Nanoencapsulation
One of the biggest problems with cannabis is the distribution of chemical compounds. CBD concentration is an oil and is not water-soluble. Hence, it tends to separate itself after some time from the solvents.
This nature of CBD oil limited the use of cannabis. However, with the nanoencapsulation, the problem finally found a solution.
CBD is known for its low Bioavailability, which means only 20% of the total compound reaches to tor your bloodstream. Fortunately, with nanoencapsulation, experts were able to find different ways of regulation and increase its potency.
The Future Of Cannabis
The cannabis industry is constantly changing and evolving alongside other industries. New technologies are emerging all the time. Whether we are talking about equipment testing or cannabis breathalyzers, we have seen several technologies helping to reshape the cannabis industry.
Although cannabis today is illegal, seeing how some parts are being legalized for medical use, we can hope to see the continuation of cannabis to move into the mainstream in terms of medicinal recreations.
