A new year means new technology. No industry is immune to the modern advancements of an online world. But cannabis is anything but traditional, and the technology these pot stocks are using is a testament to the evolution of our industry. From blockchain and e-commerce to lighting and cultivation, cannabis is at the forefront of technological innovation.
Here are the latest technology updates in cannabis:
Harvest One Cannabis employs the latest blockchain technology
The buzz around Bitcoin may have tapered out, but blockchain technology is not going anywhere. For cannabis, blockchain offers one of the most efficient ways to track and label plant strains and genomes. Harvest One Cannabis (TSXV:HVT) (OTCQX:HRVOF) is the latest pot stock to implement blockchain through their agreement with BLOCKStrain Technology Corp. (TSXV:DNAX) (OTC:BKKSF).
Harvest One will use BLOCKStrain’s authenticity and tracking platform to support its current cannabis sales platform. Labels for each medical cannabis product will now be confirmed through the blockchain program so that consumers can trust that their cannabis is exactly what it says it is.
"BLOCKStrain's technology is intended to enable us to guarantee that our strain origins and content are exactly as labeled, providing medical consumers with a level of certainty they could not expect with similar, unverified products," Harvest One CEO Grant Froese explained in the press release.
Tracking cannabis is a unique task as there are thousands of strains of marijuana and the list is constantly growing and changing. When medical marijuana patients have specific needs and are looking for specific strains, it is extremely important for licensed producers to guarantee that the label matches the product. BLOCKStrain was the first technology firm to create a fully-integrated IP tracking platform for cannabis with blockchain technology, and Harvest One will be using the technology on 30 of their products to start. In the future, all of Harvest One’s products will be verified through blockchain technology.
Green Growth Brands launches new e-commerce website
Despite being outright rejected by Aphria last week, Green Growth Brands (CSE:GGB) (OTCQB:GGBXF) is pushing ever forward. They expanded their brick and mortar strategy last week through their partnership with the Simon Property Group, and this week they are expanding digitally through a brand new e-commerce website.
The new website is powered by Green Growth’s Seventh Sense Botanical Therapy brand, a line of CBD-infused beauty and personal care products. Anyone can access the website, but only consumers in a handful of states (which are listed in the press release) will be able to have their products shipped to them. Green Growth promises more states will open up as “CBD is becoming more common in the United States.”
“Sales through our digital channel are a huge component of our strategy,” Green Growth CEO Peter Horvath clarified on Thursday. “Our digital presence is harmonious with our bricks and mortar strategy. The site expands our reach and will drive subsequent purchases for our customers who have shopped at our Seventh Sense shops or our assortment at DSW."
Finding a balance between e-commerce and traditional retail is tricky, especially for cannabis companies navigating state and federal laws. Seventh Sense Botanical is made with legally sourced hemp and not marijuana, yet Green Growth is still only able to ship their CBD products to 29 states. Could this limitation harm their bottom line?
While it implies a certain sense of exclusivity that could potentially drive sales, other cannabis companies are shipping across the country and the globe. Green Growth no doubt has their eye on the competition, but they will want to reach their entire market if they truly want to compete.
Liht Cannabis to use cutting edge liquid cooled lighting technology
Liht Cannabis Corp. (CSE:LIHT) (OTCQX:LIHTF) chose an innovative new lighting technology for their Canadian cultivation facilities. The new lights and monitoring system will be installed in their facilities in British Columbia, including their brand new 486,000-square-foot indoor grow space.
The Agentix LED lighting system Liht is exclusively using comes with two unique efficacy controls. First, the lights are full-spectrum, providing every color of light cannabis plants need during the various stages of growth. Second, and most unique, are the lights’ ability to stay cool through a water loop inside of the light.
Cannabis plants are highly sensitive to light and temperature, and the water in the Agentix lights removes the heat from the grow space without any extra work from the cultivator’s side. The goal is to eliminate the use of humidifiers, air conditioning, and other strains on the HVAC systems without sacrificing the health of the plants or the quality of the cannabis.
According to the press release, Liht expects to see their energy costs cut in half with the new lights. The pot stock’s goal is to keep the cost of their organic cannabis low and affordable for all consumers, and Agentix provides them with a modern answer to the never-ending question of how to save money.