Cannabis is one of the fastest-growing industries in the world at the moment but it’s still very new, meaning it has the potential to grow exponentially. That’s the reason why more and more entrepreneurs are deciding to invest in the cannabis market. And, the more investments there are, the higher the number of companies working on the technology, thus making the cannabis industry more profitable, more efficient, and more accessible. 

Here are a few ways how technology is changing this rapidly growing market.

Cannabinoid Biosynthesis

The most known way of creating cannabis-based products is by extracting cannabinoids directly from the plant. However, that’s not the only way! There is something known as biosynthesis. It’s a process that helps scientists create yeast strains from microorganisms in order to make the same cannabinoids found in cannabis. The main idea behind this research is to isolate the non-psychoactive cannabinoids like CBD.

Tesla Powerwall

Elon Musk might be known throughout the world as the creator of Tesla electric cars, but his most ingenious creation to this date is the special electric battery. Tesla Powerwall has the potential to change the entire cannabis industry because it enables cannabis cultivators to save money on electricity and invest it in the business.   

POS Technology & Analytics

POS Technology & Analytics is helping dispensaries find out which products are in high demand and in vogue. This can maximize their profits by helping them stay up-to-date with what their customers want and need. Also, services like Shopify offer easily accessible, cloud-stored information about local, state, and federal regulations.

Seed-To-Sale Tech

This is a unique technology that has the ability to track every stage of growth for each plant. From planting to growing, to harvesting, and all the way to dispensary shelves – literally every step is being monitored and reviewed. Furthermore, Seed-To-Sale is an excellent aid in fighting against the black market.

LED Lights

It’s time to leave the high-pressure sodium bulbs that dominated the growing cannabis industry and switch to LED lights which are more energy efficient. This will help reduce the cost, and lower heat and electricity use. LED Lights without a doubt are promoting long-term savings.

Technology is changing the entire world, but we can see most advancements in the fastest-growing industries, such as the cannabis industry. This is only the beginning, so we are looking forward to see how technology will continue reshaping the cannabis market.  Of course, we’ll be keeping you posted.