HP Finds an Alternative within the Marijuana Trade
As not too long ago as December, the Justice Division reminded the general public that marijuana stays a managed substance that’s banned by regulation and that the federal prohibition takes priority over state legal guidelines. However the uncertainty over the substance’s legality on a nationwide degree hasn’t stopped marijuana’s rising reputation within the 29 states the place it has been legalised for both leisure or medicinal use.
Now, know-how large HP counts an organization that sells software program options as certainly one of its prospects.
HP mentioned it offered to software program agency Flowhub, which is launching a brand new point-of-sale and software program bundle particularly designed for the marijuana business.
Denver-based Flowhub’s software program not solely supplies enterprise administration and transactional processing instruments for retail shops but additionally workflow particularly targeted on the ever-changing compliance, regulatory and reporting guidelines that problem the homeowners – a lot of them small enterprise homeowners – of marijuana dispensaries.
So, why is HP dipping its toes into the possibly dangerous marijuana market at a time when the US legal professional basic has said his opposition to its legality and lots of banks nonetheless refuse to open accounts for companies within the business out of concern about violating federal regulation?
The reply, as all the time, is cash. Marijuana gross sales are booming nationwide – with analysis companies like Cowen & Co. predicting that gross sales of regulated hashish will skyrocket from $6 billion (roughly Rs. 39,120 crores) in 2016 to $75 billion (roughly Rs. four,89,042 crores) inside the subsequent 12 years.
“Retailers throughout a variety of industries use our of their retailer operations,” HP mentioned in an announcement to Bloomberg. “Our retail options are broadly obtainable and utilized by all types of shoppers as they see match to satisfy their enterprise want.”
HP is not the one massive tech firm that’s promoting merchandise to firms within the marijuana business. In response to Inexperienced Market Report, Microsoft in 2016 allowed a hashish compliance firm to develop and host its merchandise on its cloud-based Azure Authorities platform. And even IBM has been pitching the Canadian authorities on a possible blockchain-based system that might assist monitor seed-to-sales transactions within the nation.
© The Washington Put up 2018