GreenRushReview.com Reports On Top 10 New Tech Opportunities in Marijuana Industry
San Francisco, CA (PRWEB) July 29, 2015 -- The legal marijuana market is expanding rapidly, paving the way for major business technology opportunities in the industry. GreenRushReview.com, a cannabis industry news website, reports on the top ten new tech opportunities.
The GreenRushReview.com post references a Forbes.com article, InvestInCannabis CEO Eddie Miller enumerates a list of the top ten tech opportunities in the legal marijuana industry.
According to Miller, these ten opportunities are Industrial Cultivation, Laboratory and Testing, Manufacturing and Derivatives, Web Presence Management, Regulatory Compliance and Privacy Applications, E-commerce, Mobile and On-Demand, Financial Technology and Payment Processing, Advertising Technology, and Cloud Computing.
One of the technology opportunities identified by Miller is Industrial Cultivation, as he believes that advances such as greenhouse technology and growth optimization techniques will pave the way for the creation of safer, consistent, and more economically efficient products.
Laboratory and Testing is another tech opportunity for the industry. Just as product testing has become a requirement for the food and pharmaceutical industries, testing will also soon become a requirement for medicinal and recreational marijuana products.
Manufacturing and Derivatives is also a promising tech opportunity, as pharmaceutical grade products will saturate the industry over the next five years. According to the same Forbes article, approximately 41 percent of today’s cannabis industry is comprised of sales from edible products, extracted concentrates, and other derivatives.
Miller also mentions Web Presence Management, since digital marketing and branding efforts by current Cannabis businesses are still very limited. Today’s successful businesses employ strategies such as reviews, directory listings, mobile visibility, and customer engagement.
Regulatory Compliance and Privacy Applications is another tech opportunity to watch out for. Seed to sale tracking should expand, as all marijuana businesses are in need of compliance technology.
Another top tech opportunity in the cannabis industry is E-commerce. Although cannabis consumers are beginning to enjoy one-click services and online transactions, it is still rare to process payments for cannabis in digital form.
Miller also identifies Mobile and On Demand as another tech opportunity. The cannabis industry must embrace current convenience tech standards, particularly the use of mobile for productivity, social, and logistical purposes.
At present, lending and payments processing is extremely difficult due to the federal status of marijuana as an illegal substance. Financial Technology and Payment Processing is another opportunity in the industry, so that businesses can go beyond cash transactions.
In order to reach the cannabis consumer, appropriate and discrete marketing techniques must be implemented, such as data aggregation, remarketing, retargeting, and intelligent ad serving. This is why Advertising Technology is another technology investment opportunity in the marijuana space.
Cloud Computing is another tech opportunity identified by Miller, since cannabis businesses will eventually need cloud operations and data-driven decision making to replace the mounds of paperwork stored in filing cabinets.
GreenRushReview.com strives to be a convenient and reliable online resource for all cannabis consumers, entrepreneurs, and investors. The website aims to provide the general public with extensive coverage on features, news, opinions, and events on the multi-billion marijuana industry and culture in North America, including industry stocks, prices, implications, trend developments, investment opportunities, business opportunities, and legislation. The site also host a cannabis industry directory, related articles, videos, company profiles, and press releases pertinent to the industry.
The term “Green Rush” refers to the swift surge of activity brought about by the legalization of medical marijuana in over 23 states, and the acceptance of comprehensive cannabis and medical marijuana programs.
GreenRushReview.com is part of a portfolio of cannabis industry sites, which includes http://www.bestmedicalmarijuanastocks.com (top medical marijuana company news), http://www.marijuanastocksreport.com (cannabis small cap stock news), and http://www.marijuanastock.net (financial cannabis company news).
Companies seeking exposure on GreenRushReview.com and it's network or cannabis sites can contact editorial(at)greenrushreview(dot)com for more information.
Green Rush Review is a trusted resource online that continually strives to deliver the latest and most relevant news on the marijuana industry in North America. For more information, visit http://www.greenrushreview.com.
Paul Deriso, Green Rush Review, http://www.greenrushreview.com, +1 (925) 452-6952, [email protected]
Share this article