Estimating the cannabis market is highly speculative math. No one really knows the true value of cannabis companies, but with the legalization of marijuana in some parts of the U.S. and Canada, market valuations and acquisition deals keep breaking records, making it increasingly important to harness reliable cannabis supply chain technology. Blockchain has vast potential, it offers a regulatory framework that is quick and efficient and plays an important role in cannabis supply chain management.Blockchain banking solutions are in high demand, and their capacity for better, greater inventory management and supply chain oversight will be a game-changer. It is roughly estimated that the blockchain market in the supply chain will reach 4.24 million by 2023 with a compound annual growth rate
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Estimating the cannabis market is highly speculative math. No one really knows the true value of cannabis companies, but with the legalization of marijuana in some parts of the U.S. and Canada, market valuations and acquisition deals keep breaking records, making it increasingly important to harness reliable cannabis supply chain technology. Blockchain has vast potential, it offers a regulatory framework that is quick and efficient and plays an important role in cannabis supply chain management.
Blockchain banking solutions are in high demand, and their capacity for better, greater inventory management and supply chain oversight will be a game-changer. It is roughly estimated that the blockchain market in the supply chain will reach $424.24 million by 2023 with a compound annual growth rate of 48.37 percent during the forecast period.
However, as a direct response to technological evolution, there has been exponential growth in the volume of data flowing through devices. More data translates to data management problems – more intensive, bigger servers are now required to keep up with the sheer influx of data.
A multichain oracle framework allows several blockchains to interact seamlessly with the platform. Multichain Ventures is an end to end blockchain solution provider for developers, merchants, and crypto companies.
What is Multichain Ventures?
It enables existing businesses to leverage blockchain technology on a day-to-day basis and to adequately contextualize the enterprise potential of blockchain while simultaneously increasing adoption. It is the parent company of several underlying entities like Cubed, EDEN and the Tokes Platform. They produce blockchain orientated products including but not restricted to supply chain visibility tools and cryptocurrency-based payment. A universal crypto merchant solutions provider, Multi Ventures has an integrated ecosystem of software products with TKS token integrations at every level.
Backed by a team of professionals, they leverage the bleeding edge of open source technology. Their extensive blockchain technology expertise and knowledge have helped them design exceptionally secure and reliable nodes. They are thoroughly well versed in ledger technology and offer a stable, efficient and secure blockchain ledger for nearly any system that requires one.
What is Tokes (TKS)?
The Tokes platform offers an ecosystem of cryptocurrency payment processing services essentially targeting the legal cannabis industry including eCommerce integrations, cryptocurrency point of sale, mobile wallets, and Smart ATM integrations for the in-store acquisition of tokens.
The Tokes digital currency platform, a part of the larger socio-economic movement of cryptocurrency has immensely empowered the cannabis revolution. The tokes platform offers a digital currency solution to the cannabis industry through “TOKES” or a token that can be used by customers to facilitate in dispensary purchases.
They can also be utilized in a business to business capacity across industry participants. Tokes Platform is a cannabis blockchain application that aims to provide solutions to supply chain management. It can build ‘track and trace’ block solutions to ensure the protection of transactions done via Tokes (TKS), the native cryptocurrency used for all payment solutions offered by the Tokes Platform.
How does It Work?
The application includes a Tokes Wallet and a Tokes Merchant Gateway software that offers a point of sale application for the marijuana industry to accept Tokes, or tokenized assets and other cryptocurrencies in lieu of cash payments. Consumers are taken into the process by either loading their mobile wallet prior to visiting a seller or using in-store kiosks. This yields auditable, fast and inexpensive ways to conduct transactions that combat the cash handling liability of the merchant and provides a verifiable history of all the transactions on the blockchain.
Tokes.Platform can help effortless management of regulation and monitor compliance in real-time. Data is by far the most prized commodity and automatically a lot more critical for most businesses. It also additionally provides a secure and reliable API network that will pave the path for testing providers, growing relevant facilities, various software developers and other supply chain platforms that will contribute to building cannabis-centric applications.
What is Reli.Cloud?
Among the efforts of building a scalable software and blockchain infrastructure, Reli.cloud was born. As a sister company to Multichain ventures, Reli is a managed DevOps service leveraging containerized cloud computing infrastructure for high scalability and availability of applications using cutting edge open-source technology. Reli.cloud is responsible for hosting all products within the Multichain Ventures ecosystem. Container technology can benefit your cloud environments in a lot of ways. They are lightweight, accommodating platform differences and allow applications to move between cloud without having to undergo a major rework.
How does It Work?
If you are keen on building a Kubernetes-based infrastructure, Reli is perfect. Reli supports all stacks equally with Docker containers and reduces deployment inefficiencies.
They handle Site Reliability Engineering thereby allowing you to build next-generation applications without adding to your DevOps team. Your team could easily improve their efficiency and shorten development cycles through Reli’s containerized services.
Additionally, the PaaS works on AWX Amazon Web Services, GCO Google Cloud platform, and on-premises. Reli is all about versatility and flexibility. If you wish, you can easily launch GKE, EKS and AKS clusters, deploy new ones from scratch or import existing Kubernetes clusters across clouds. It’s known for its ability to interface you with multiple hosting providers. Leaders across industries rely on Reli to maximize product uptime, resources, and efficiencies.
What is Cubed?
Cubed, an industry agnostic digital currency payment processing suite, serves as a white label division for various technology solutions but with the option to rebrand and license the software for a particular retail sector or a customer segment in a general merchant package ready for immediate customer deployment. Cubed builds payment processing software for cryptocurrency adoption for eCommerce and in physical brick and mortar businesses. This includes point of sale software, payment APIs, web checkout components, consumer wallets, custom block explores with efficient integration to CRM software and popular inventory management.
How does It Work?
With an easy setup, you can digital currency payments for your business in no time and with no hassle. You have all the features you need with a cryptocurrency checkout option. They offer easy to use mobile applications for payment in digital currencies also available as a custom branded solution for your business. The Cubed Merchant Gateway offers a convenient consumer checkout solution for customers making payments in crypto with analytics, inventory management, and eCommerce integrations. You can use the same inventory as your brick and mortar or as a standalone option. With Cubed eCommerce solutions, you can now integrate effortlessly with your existing web store with support for famous providers like Shopify.
There is a need for assured exchange of products and meticulous scrutiny of cannabis logistics while protecting the privacy and eliminating fraud. Since large sections of the cannabis market are still unregulated, one of the definitive supply chain solutions for cannabis firms would be a secure and fully integrated blockchain platform that will effectively register and track cannabis IP from genome to sale. Legally licensed cannabis growers and sellers will easily get their money’s worth.
The integration of blockchain technology into cannabis supply chains will easily make information accessible and modifiable at any node. There are various factors that are driving the growth of blockchains- enhanced immutability and transparency, increasing security concerns and improving smart contracts. Being able to provide producers, purchasers, and consumers with lab-certified information will lead to the creation of a mutually beneficial ecosystem.