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Cannabis data that helps regulators warm up the industry

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The leader of a cannabis-focused software company sees the industry maturing because data brings clarity to regulators.

Metrc is a provider of cannabis regulatory systems in the United States, offering software as a service program to track cannabis along the supply chain. CEO Michael Johnson told Investment News Network (INN) that access to this type of data made regulators more comfortable with the cannabis industry by giving them a clearer picture of the seed sale process.

“The way to de-stigmatize the impressions associated with cannabis is really to provide insight and transparency into what is really happening in the cannabis field,” he said.

Metrc building partnerships with US states

Johnson made it clear that US state governments would choose one tool to use in their organizational structure.

“We are the tool of choice for many countries to be able to facilitate the legal tracking and tracing of cannabis throughout their ecosystem,” Johnson said. “Government contracts are really important.”

But the company does not stop at the US jurisdiction. According to Johnson, Metrc aspires to make its services stand out worldwide. The executive said Metrc has received inquiries from countries in Europe, Asia and South America.

“Our system is truly a supply chain transparency platform that allows each element of the cannabis plant life cycle to be documented. All the different elements that go into the production of cannabis products are documented and maintained within the tool,” Johnson commented to INN.

When asked if he expects the United States to see federal cannabis reform anytime soon, the CEO said things are moving in the right direction, but regulators need more assurance that safety and public health will be taken into account. “Sometimes we go too fast. Sometimes we go too slow. Sometimes we don’t go anywhere at all.

Clear cannabis data provides convenience to regulators

Johnson believes bots have helped make regulators more comfortable with the cannabis industry, especially those who are just beginning to learn about the market.

“[Cannabis]is tracked throughout the process, including who touched it, who transported it, and who ultimately bought it,” he said. “This level of visibility allows for much higher comfort.”

This type of data is also key to combating unregulated items, which remains a problem in states where cannabis is legal. Market share of these black market products Still stable and sometimes over muscular Offers from regulated operators.

The same effect has occurred in Canada, the first of the Group of Seven industrialized nations to legalize adult use of cannabis. One of the most visible and recent indications that Canadian operators are feeling pressure from unregulated products is New numbers show the amount of waste only The legal industry produced.

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Securities Disclosure: I, Brian McGovern, do not hold any direct investment interest in any of the companies mentioned in this article.

Editorial Disclosure: The Investment News Network does not guarantee the accuracy or accuracy of the information in your interviews. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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