How the #Cannabis
Industry is Driving #Payment and Data #Tech Solutions: (OTC: $GOHE) (TSXV:
$DNAX.V) (TSXV: $RIV.V) (OTC: $REFG)
Point Roberts WA,
Delta BC – March 27, 2019 - Investorideas.com, a leading investor news resource covering
tech and cannabis stocks releases a snapshot looking at how payment technology
and data solutions have evolved due to the regulatory hurdles facing the
cannabis industry.
PaymentsJournal discussed the
“cannabis payments conundrum” and how as the cannabis industry matures we are
beginning to see an evolution in payment and data tech companies.
From the article: “The next few years will be hugely important in bringing more validity
to the cannabis industry as it continues to expand into new legalized markets.
Tapping into the compliant payments solutions will ensure that cannabis
dispensaries and retailers will operate above reproach, something their
customers/patients, employees, banking partners, and state regulators will
appreciate.”
Global Payout Inc. (OTC: GOHE) and its operating
subsidiary, MTrac Tech Corp. just announced that Carol Gabel, a
member of the Company’s government relations team at MGR2 has been invited to
speak at the New Jersey Cannabis Insider event on April 3rd.
The timing is
critical, as next week New Jersey lawmakers are expected to vote on
legalization. Gabel will discuss the pending changes in the cannabis payments
sector and the company’s flagship product, the MTrac payment platform.
The event brings
together many of the key players from throughout the cannabis industry in New
Jersey and surrounding tri-state area to provide networking opportunities for both
new and established businesses in this rapidly expanding industry.
Read this in full at https://www.investorideas.com/news/2019/cannabis/03271Stocks-Paymen-DataTech.asp
“Over the course of my career I have had the
distinguished opportunity to participate in the legislative process,” said Ms.
Gabel. “With this experience I have gained a deep understanding of the legal
challenges facing the cannabis industry and have harnessed that experience to
help businesses succeed. One of the most challenging aspects of working in the
cannabis industry is access to reliable banking and merchant processing
services, and I believe MTrac does a lot to solve those problems. MTrac's
payment platform helps both businesses and regulatory bodies by providing a
secure tracking method for tracing purchases and solves the problems of cash
only operations as well.”
The focus of the
conference is to help attendees come away with an in-depth understanding of where
the law stands, where the law is headed, and how to remain compliant in a
complicated regulatory environment. Ms.
Gabel intends to utilize this platform to discuss and highlight MTrac’s unique
blockchain-powered cashless payment solution, and how states with legal
recreational cannabis are leveraging the technology to increase safety and
compliance across the board.
BLOCKSTRAIN TECHNOLOGY CORP. (TSXV: DNAX) (OTC: BKKSF) recently announced that it has entered
into a letter of intent with Spark Digital Technologies Inc., whereby the
Company will acquire all of the issued and outstanding securities of Spark and
the business of Spark.
Spark is the owner of
its proprietary platform, IgnitePro™, which was built exclusively for the
cannabis industry. The IgnitePro™
technology is connected globally and will be able to travel with cannabis
plants and products as they move from cultivation to distribution. IgnitePro™
will produce reports, store documentation and track transports, and when combined
with Blockstrain, is expected to ensure regulation and compliance standards are
being met and protected on the blockchain.
Medical Cannabis Payment Solutions Inc. (OTC: REFG), another leading provider of regulatory-compliant financial services for
state-sanctioned marijuana, announced back in September the launch of their
nationwide banking solution for state-sanctioned cannabis, (PayWithGo) and recently provided an update on its activities in 2018 and its 2019
strategic direction.
Jeremy Roberts, Company
CEO commented, “Our corporate mantra has always been compliance, security and
accessibility. And we're currently hitting on each of those principles. With
the commercialization of Go!, which represents our single most important
milestone to-date, we are on the cusp of an entire new era of growth and
expansion as cannabis as well as other industries begin to adopt our payment
solution."
Canopy Rivers Inc. (TSXV: RIV) has also been
keeping a close eye on the rise in cannabis tech having announced earlier in the year
that it has completed an equity investment in Headset, Inc., a data and
analytics service provider for the cannabis industry. Canopy Rivers subscribed
for C$4,084,500 of Series A Preferred Shares in Headset, representing the
Company’s first entry into a technology-focused cannabis vertical.
The US House Financial Services Committee is expected to vote on the SAFE
Act in the coming weeks, which would permit commercial banks to offer services
to cannabis companies that are in compliance with state law. With these developments,
the cannabis landscape could change overnight and switch from a cash-based grey
system to a transparent economic powerhouse. This will be good news for the
many payment and data companies that have already postured to accommodate the
cannabis space, and could also represent a massive missed opportunity for the
regulated banking sector.
For investors
following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX
Marijuana/Hemp Stocks
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