CannabisNewsWire Editorial Coverage: The legalization of cannabis for recreational use in Canada appears to be certain by the end of summer. The legislation to begin that process was passed by the government in late 2017 and passed a second reading in the country’s Senate in March 2018; the final vote is scheduled for June of this year, and the passage appears all but certain. Approval of the law — along with the fact that recreational cannabis is already legal in nine U.S. states — will spark an industry that forecasts indicate may reach as high as $12B in North America (http://cnw.fm/Fem3T), an irresistible opportunity for companies in all areas of the cannabis industry, as well as for companies looking for new ways to grow. Among the companies positioning themselves to be top contenders in this potentially incredibly lucrative area are Global Payout, Inc. (GOHE) (GOHE Profile), Kush Bottles, Inc. (OTCQB: KSHB), General Cannabis Corporation (OTCQB: CANN), MassRoots Retail (OTC: MSRT), and Growlife, Inc. (OTCQB: PHOT).
Smart Companies Looking to Enter the Market
Cannabis as a growing market can’t be ignored, and smart companies are eager to identify ways to enter the market — even if they don’t grow or sell marijuana. These companies are taking advantage of innovative opportunities ranging from payment solutions, accessories, technology, medicine and more. Global Payout, Inc. (OTC: GOHE) has become a leader in providing cannabis companies with support in many different areas.
One of Global Payout’s most recent forays into the industry is its involvement — through partner MoneyTrac Technology (MTRAC) — with PotSaver, a southern California-based community magazine that provides information about discounted cannabis-related products for local dispensaries and shops. Moving forward, MTRAC will provide Pot Saver with fundamental support and guidance needed to execute its strategy (http://cnw.fm/8WqxF).
“With the medical and recreational cannabis industry growing at an unprecedented rate in California, we are determined to be conscious of the multiple opportunities that currently exist, or that we can create for MoneyTrac to further expand its brand throughout the industry as well as tap into every available revenue source possible,” said MTRAC COO Vanessa Luna. “This agreement with Pot Saver is an excellent opportunity for us to offer the industry-specific business development expertise we have acquired to help further PotSaver’s go-to-market strategy, while simultaneously creating a new source of revenue for our company as we continue to expand our own brand throughout the industry.”
Subscription Model Designed for Readers
Most recently, the PotSaver brand is expanding its sales and marketing efforts for MoneyTrac’s signature magazine publication by launching a subscription-based model (http://cnw.fm/B9gV4). This move provides subscribers with an electronic version of the publication emailed to them monthly. In addition, PotSaver has ramped up its social media efforts in an effort to grow its subscriber base and expand its presence in San Diego County.
In just one weekend, the PotSaver sales and marketing team acquired close to 1,000 new subscribers for its publication, which is distributed monthly to a variety of newsstand locations throughout San Diego. In the coming year, the company plans to focus on building a substantial subscriber list and moving away from its hard copy newsstand distribution model.
This move also allows PotSaver to provide much more targeting messaging and information. It also provides the company with more detailed information related to its subscribers, which will allow the publication to deliver an experience that is tailored more effectively to its readers.
“The launch of a subscription-based model truly represents the natural evolution of PotSaver,” said Aaron Adler, PotSaver founder. “We recognize we are in a market that is very much driven by a millennial population that demands convenience, and through a subscription they can now receive PotSaver every month right on their phone, tablet, or computer. The subscription-based model also creates an opportunity to target consumers in a more effective manner by leveraging geographic information to present them with a publication that offers them discounts closer to home, and more in line with their needs.”
An Alternative Finance Option
In addition to its involvement with PotSaver, Global Payout and MTRAC continue to lead the way in providing financial services for cannabis companies. Though the use and sale of medical marijuana is legal in 29 states (http://cnw.fm/c6Drq), federal legislation remains the same as when cannabis was included as part of the government’s intense war on drugs. Consequently, most financial institutions refuse to provide services to cannabis companies for fear of prosecution.
This means that cannabis merchants have been forced to work in a cash-only economy, creating both inefficiencies and higher risks of fraud, theft and accounting errors. As a result, cannabis companies have been searching for alternative payment methods. Global Payout and MoneyTrac technology are moving to provide that service.
A technology and business development company whose motto is “Key to Cashless™,” MoneyTrac works to provide an alternative to the more traditional banking and electronic finance options. In order to do so, MoneyTrac has leveraged blockchain technology, the leading way of transferring value outside of the mainstream banking sector. Blockchain is a distributed ledger system — a form of data keeping where responsibility for the record is shared across a network rather than kept in one place.
Blockchain payments offer cannabis companies numerous advantages. Any customer can access blockchain system, regardless of whether they have a bank account. Money transactions are made without any involvement with banks, which are wary about involvement in cannabis. Payments are almost instantaneous, and because transactions are recorded over a distributed network, no controllers are creating bottlenecks or the risk of a single point of failure.
MoneyTrac’s MTRAC payment system is powered by GreenBox blockchain technology (http://cnw.fm/GVSh6) and provides cannabis companies with a payment system that includes electronic payments, decreasing the risks and inefficiencies of working with cash. Customers can load a card or digital wallet at a MoneyTrac kiosk. Though currently focused on the cannabis market, this option may benefit other companies in high-risk sectors or that are searching for ways to benefit from blockchain.
An Intricate Knowledge of the Industry
MoneyTrac provides other support services for cannabis businesses as well. Many cannabis retailers are new to the industry and are exploring ways to best position themselves. Effective sales and marketing is always difficult for any business, but in a sector that is as heavily regulated as cannabis, it can be especially challenging.
The MoneyTrac team has garnered years of knowledge and experience in business development and can provide invaluable advice and support as team members guide clients through the challenges and opportunities that come with starting and running profitable businesses. Developed through strategic partnerships across the financial sector, MoneyTrac professionals possess an intricate knowledge of the cannabis industry and can ensure their clients are in regulatory compliance.
Cannabis Companies Vying for Position
Other companies are eager to provide ancillary goods and services in the cannabis world as they jockey for position in what looks to be one of the most financially rewarding opportunities of the year.
Headquartered in Santa Ana, California, Kush Bottles, Inc. (OTCQB: KSHB) sells packaging, containers, and other ancillary products for the cannabis industry. The company helps entrepreneurs entering the cannabis industry overcome barriers to entry. Kush Bottles is a one-stop shop for any business looking to operate responsibly and build its brand. Most recently, the company entered into a merger agreement to acquire Summit Innovations, a leading distributor of hydrocarbons to the legal cannabis industry (http://cnw.fm/uN0Un). Hydrocarbon gases are used to turn cannabis plants into oils, and this acquisition marks Kush Bottles’ entry into a new business vertical supplying gas to cannabis extractors.
General Cannabis Corporation (OTCQB: CANN) is a trusted partner in the cultivation, production and retail side of the cannabis business. The company operates a combination of strong operating divisions such as real estate, consulting, security, financing and the distribution of important infrastructure products to grow facilities and dispensaries. Just last month one of General Cannabis’s companies, Chiefton Supply Co., signed a distribution deal to supply national action sports retailer Tillys with its first hemp apparel brand (http://cnw.fm/31wBc). An exclusive run of Chiefton’s spring line of men’s T-shirts will be available in Tillys retail locations across the country, as well as purchase online.
MassRoots Retail (OTC: MSRT) is one of the leading technology platforms for the cannabis industry. The company’s social platform is one of the largest communities of cannabis enthusiasts. Powered by more than one million registered users, MassRoots enables consumers to rate products and strains based on their efficacymand then presents this information in easy-to-use formats for consumers to make educated purchasing decisions at their local dispensary. Businesses are able to leverage MassRoots also provides a way for businesses to strategically advertise to consumers based on their preferences and tendencies.
Growlife, Inc. (OTCQB: PHOT) is a nationally recognized cultivation brand, providing world-class hydroponic equipment, lighting, nutrients, media, and other cultivation supplies to commercial and urban operations. Earlier this year, Growlife announced the launch of a new line of sustainable eco-friendly products for the indoor cultivation market (http://cnw.fm/KFa6T). These new products will allow GrowLife’s customers to play a role in providing a greener economic footprint compared to traditional indoor cultivation methods while remaining efficient on output and profitability.
Many companies are clearly eager to identify new ways to be part of the burgeoning cannabis industry—an industry set to explode within the coming months as the journey to legalization marches around the world.
For more information about Global Payout, Inc., please visit: Global Payout, Inc. (GOHE).
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