5 Ways technology can transform the marijuana industry electricity 24 hours

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One technology that’s already a game-changer for the pot industry is the introduction of point-of-sale and seed-to-sale cloud platforms for dynamic electricity examples growers and retailers. Shopify (NYSE: SHOP), which is best known for offering a retail sales platform for brick-and-mortar, online, and mobile weed sales, was chosen by the Ontario Liquor Control Board in February 2018, which is a government-run province, and British Columbia in June 2018, which allows private retailers, as their point-of-sale provider.

Shopify’s software-as-a-service (SaaS) cloud platform brings two exciting developments to the table. First, retailers are finally able to analyze data on consumer buying habits. Remember, the illicit (and even early stage legal) cannabis industry has been dominated by cash purchases, which makes understanding consumer behaviors difficult. This makes pricing physical science electricity review worksheet product correctly, and even ensuring that the right product mix is in stores, troublesome. With Shopify’s e-commerce platform, retailers have an active middleman of sorts that can help with ordering, as well as help highlight what is and isn’t working from a product or margin perspective.

In addition, since supply chain logistics can differ throughout North America, and even within Canadian provinces or U.S. towns within legal states, Shopify’s cloud-based compliance software can aid in seed-to-sale documentation. This platform does everything from intricately tracking the product from planting to its sale on dispensary shelves grade 6 electricity, to ensuring the quality of the product that reaches consumers.

Currently, almost all cannabinoids are produced by traditional extraction techniques. This tends to be fairly costly, which is why consumers pay premium prices to get their hands on cannabis oils — either tetrahydrocannabinol (THC) or cannabidiol (CBD) — or most alternative products containing high percentages of THC or CBD. THC being the psychoactive cannabinoid that gets a user high, while CBD being the nonpsychoactive cannabinoid best known for its perceived medical benefits.

However, a new method of extraction has taken hold: biosynthesis. Using microorganisms to create gasco abu dhabi email address yeast strains capable of producing desired cannabinoids, including rare cannabinoids, what few companies are involved in this new extraction technique believe it’ll help lower costs, improve commercial yield, and can be implemented regardless of the weather. In essence, cannabinoids could be produced on-demand and year-round.

One company taking this to heart is Cronos Group (NASDAQ: CRON), which forged a $100 million partnership with Ginkgo Bioworks in September. Cronos Group will get z gas tecate telefono access to Ginkgo’s microorganism platform to develop eight cannabinoids on commercial scale, some of which are rare. In an effort to diversify its product line away from dried cannabis flower, Cronos believes biosynthesis production costs will be lower than traditional extraction techniques, providing it a juicy return on its joint venture investment gas 89.

One technology that’s already a game-changer for the pot industry is the introduction of point-of-sale and seed-to-sale cloud platforms for growers and retailers. Shopify ( NYSE:SHOP), which is best known for offering a retail sales platform for brick-and-mortar, online, and mobile weed sales, was chosen by the Ontario Liquor Control Board in February 2018, which gas buddy is a government-run province, and British Columbia in June 2018, which allows private retailers, as their point-of-sale provider.

Shopify’s software-as-a-service (SaaS) cloud platform brings two exciting developments to the table. First, retailers are finally able to analyze data on consumer buying habits. Remember, the illicit (and even early stage legal) cannabis industry has been dominated by cash purchases, which makes understanding consumer behaviors difficult. This makes pricing product correctly, and even ensuring that the right product mix is in stores, troublesome. With Shopify’s e-commerce platform, retailers have an active middleman of sorts that can help with ordering, as well as help highlight what is and isn’t working from a product gas station near me open or margin perspective.

In addition, since supply chain logistics can differ throughout North America, and even within Canadian provinces or U.S. towns within legal states, Shopify’s cloud-based compliance software can aid in seed-to-sale documentation. This platform does everything from intricately tracking the product from planting to its sale on dispensary shelves, to ensuring the quality of the product that reaches consumers.

Currently, almost all cannabinoids are produced by traditional extraction techniques. This tends to be fairly costly, which is why consumers pay premium prices to get their hands on cannabis oils — either tetrahydrocannabinol (THC) or cannabidiol (CBD) — or most electricity generation in usa alternative products containing high percentages of THC or CBD. THC being the psychoactive cannabinoid that gets a user high, while CBD being the nonpsychoactive cannabinoid best known for its perceived medical benefits.

However, a new method of extraction has taken hold: biosynthesis. Using microorganisms to create yeast electricity bill nye strains capable of producing desired cannabinoids, including rare cannabinoids, what few companies are involved in this new extraction technique believe it’ll help lower costs, improve commercial yield, and can be implemented regardless of the weather. In essence, cannabinoids could be produced on-demand and year-round.

One company taking this to heart is Cronos Group ( NASDAQ:CRON), which forged a $100 million partnership with Ginkgo Bioworks in September. Cronos Group will get access to Ginkgo’s microorganism platform to develop eight cannabinoids on commercial scale, some of which are rare. In an effort to diversify its product line away from electricity review worksheet dried cannabis flower, Cronos believes biosynthesis production costs will be lower than traditional extraction techniques, providing it a juicy return on its joint venture investment.