Thursday, 16 June 2016

Microsoft moves into cannabis business

Software and computing giant MICROSOFT is moving into the cannabis business by announcing this week that it is selling software that tracks cannabis plants from “seed to sale”.

Picture from DUTCH PASSION seeds

Aptly this new product is part of Microsoft’s Cloud computing business.  The software is intended to keep tabs on sales and commerce in an industry that is having difficulty using mainstream banks.  Any bank that operates nationwide in the US is subject to federal law which still says cannabis is illegal.

Twenty-five states have now legalized cannabis in some form or another, with Pennsylvania and Ohio the most recent. The biggest business opportunity, though, will come from states that allow recreational use of the drug, as Colorado, Oregon and Washington already do.

This autumn, five states — including, most significantly, California — will vote on whether to join that club.Legal cannabis sales are set to rise  to $6.5 billion this year, from $4.8 billion last year. That figure could climb to $25 billion by the year 2020 if California voters approve the recreational measure this year, as is widely expected.

Microsoft has said it could eventually be attending the cannabis fairs and conferences to market their software.

Read more:

UK's biggest cannabis farm

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