It’s Time to Shift the Paradigm On How The Cannabis Industry Manages Data
The way the legal cannabis industry has managed the tremendous amounts of data it collects has proven to be an Achilles heel for the industry when it should be enabling it to leapfrog into revolutionary developments in retail and supply chain management. I helped Microsoft implement an internal traceability platform a decade ago, and I have woven the “paradigm shift” part of their culture into my own technology company. We deploy technology into legal cannabis businesses for any license type in any state and have seen the technological challenges that face the industry first-hand since 2013.
Our industry generates a lot of data. One of the great benefits in easing the legislative restrictions placed upon cannabis and hemp is removing the product from the black market, licensing qualified producers, testing the product for purity and quality and then offering that tested product in a regulated framework to consumers through licensed retail stores. This “traceablity” process is designed to limit access to cannabis to only those that are legally allowed to access it.
Each step along the way generates data, a lot of data, and that data is usually transmitted directly to the state. The current industry architecture is predicated on states creating and maintaining systems to collect the tremendous amount of data being generated, and there is a lot more data than the states care about or are required to collect in order to fulfill their mandate of ensuring compliance based on state law and collecting tax revenue.
Trying to manage all this data through state systems has proven to be a bottleneck and is certainly not the best way to gain, maintain, or use industry business management data. States are not IT companies. States are not business analysts. Therefore, we propose they are not the right entity to maintain that data.
Dauntless, Inc. proposes an alternative: take the state out of the center of data collection and provide them with the data they need from the industry, in an easily digestible format, to fulfill their compliance mandate.
To accomplish this goal, Dauntless has created the GIANT ecosystem for the cannabis industry (Global Interoperable Application Network Technology). Through GIANT’s universal API, we can integrate with any type of cannabis business with minimal development work on both sides. This speeds up deployment and allows businesses to choose software that they want and need to grow their business. The universal API also connects to the current State traceability systems: Metrc, BioTrackTHC, and MJ Freeway–pushing and pulling data as necessary between our customers and the State.
We have partnered with a number of data analytics innovators, such as Demandlink and Soro Software, to perform deep data analysis and pull actionable information the industry can use. As veterans of the industry (Our TraceWeed product traces 35% of all the cannabis grown and processed in Washington State and our Korona Retail software processes 40% of all recreational sales in Washington State ), we know how to keep business owners compliant and state regulatory agencies awash in the necessary data to minimize the requirements of deploying state-legal cannabis market infrastructures.
Imagine an environment where the data is managed and organized nationally or globally, in a centralized cloud farm. With advancements in machine learning, deep data dives and AI-based analytics, the data is unfurled to empower businesses instead of hamstringing state enforcement agencies and hobbling local businesses with unnecessary hardware costs.
Imagine an ecosystem where an IT data company processes the data and, instead of building and maintaining a compliance infrastructure at the state level, they simply subscribe to the reports necessary to audit compliance and collect tax revenue. Meanwhile, businesses of every license type are able to choose the analytical tools best suited to their business category and personal management style, and draw upon a repository of data that crosses state and even international borders.
We can deliver that TODAY. But it requires us to evolve our thinking as an industry. It requires us to shift the paradigm. We are Dauntless, and we’re prepared to pave that path.