The legalization of cannabis in Canada has opened the door for different tech companies to cash in on the new opportunities presented by the cannabis industry. Several companies are testing or offering tech products and the consumers are loving those products.
Lobo Genetics is one such Toronto-based tech company that has a bright future if the preliminary interest in its latest product is anything to go by.
The company makes a handheld genetic testing device which only requires the user to take a swab from his or her mouth in order to assess whether that individual will metabolize THC (the major psychoactive ingredient in marijuana).
People who are genetically predisposed to metabolize THC are unlikely to develop adverse reactions when they consume cannabis whether for recreational or medical purposes.
The testing device was initially developed with the medical cannabis market in mind, but players in the recreational space have shown massive interest in it as well.
Strainprint Technologies Inc. is another Toronto-based startup that has designed an app for the cannabis industry. This app can help people track the strains, dosage of cannabis and any side effects that they notice as they use pot.
“Save the Drive” is another tech product being finalized in Winnipeg. It is intended to help people hire someone to buy and deliver cannabis to their addresses instead of driving out to a store themselves. The current supply shortages are the only reason why this platform hasn’t been launched as yet.
However, it is not just Canadian companies getting a piece of the action. A number of US-based tech companies have also thrown their hats in the ring.
“High There!” is a social networking platform with roots in Florida. The platform gives its users an opportunity to locate cannabis users with whom they can meet and enjoy a joint. The platform saw a massive 300 percent spike in new registrations when recreational cannabis became legal in October.
The founders of “Weedmaps” are based in California. Like the name suggests, “Weedmaps” helps people to locate places in Canada where one can buy cannabis. You therefore don’t have to drive randomly in a new place looking for a store selling cannabis.
Such tech innovations paint a very optimistic future for the opportunities available to the different industries with recreational cannabis now legal. It is hard to mention a single industry that may not benefit from the nascent marijuana industry. Golden Developing Solutions, Inc. (OTC: DVLP), Green Hygienics Holdings Inc. (OTC: GRYN) and other existing players welcome the new tech firms which have seen a gap that can filled in order to serve customers better.
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