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How Technology Can Help The Hottest Cannabis Companies Shape The Industry

February 25, 2020 9:52 am
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How Technology Can Help The Hottest Cannabis Companies Shape The Industry

As a leading compliance technology provider and developer of enterprise resource planning technologies, Akerna Corp (NASDAQ:KERN) is fostering accountability and transparency in the cannabis industry, according to CEO Jessica Billingsley.

"At the end of the day we are creating trust between product creators and consumers," she said during a Monday panel discussion at the Benzinga Cannabis Capital Conference in Miami Beach.

Consumers care deeply about the types of products they consume, Billingsley said. As a result, she said the use of technologies that reduce counterfeiting and increase accountability in the supply chain process help ensure brand growth. 

The rise of this particular technology in the cannabis space has enabled global expansion, the CEO said. 

“We see Latin America. This year Asia will be coming aboard [also]."

Tickets to the next Benzinga Cannabis Capital Conference in Detroit, Michigan April 1 are available now.

Increasing The Cannabis Industry's Capacity

The conversation transitioned into a discussion regarding the practical day-to-day implications of cannabis industry-specific technologies.

Leveraging data is key to surviving an era of consolidation, said Driven Deliveries Inc (OTC:DRVD) CEO Christian Schenk. 

“Data will tell us ultimately what solutions need to be put in play,” he said. 

Technology allows businesses the ability to develop conversations and hone in on certain demographics, the Benzinga Cannabis Capital Conference panelists said. 

By reducing the target size and staying connected with consumers, strong brands can emerge.

Fyllo CEO Chad Bronstein added that technology ecosystems that improve targeting can better identify cannabis consumers — and allow brands to deliver highly curated products and advertisements.

Akerna CEO Jessica Billingsley. Benzinga file photo by Dustin Blitchok.