CannabisNewsWire
Editorial Coverage: The legalization of cannabis for
recreational use in Canada appears to be certain by the end of
summer. The legislation to begin that process was passed by the
government in late 2017 and passed a second reading in the
country’s Senate in March 2018; the final vote is scheduled for
June of this year, and the passage appears all but certain.
Approval of the law — along with the fact that recreational
cannabis is already legal in nine U.S. states — will spark an
industry that forecasts indicate may reach as high as $12B in North
America (http://cnw.fm/Fem3T), an irresistible opportunity for
companies in all areas of the cannabis industry, as well as for
companies looking for new ways to grow. Among the companies
positioning themselves to be top contenders in this potentially
incredibly lucrative area are Global Payout, Inc. (GOHE)
(GOHE
Profile), Kush Bottles,
Inc. (OTCQB: KSHB), General
Cannabis Corporation (OTCQB: CANN), MassRoots
Retail (OTC: MSRT), and Growlife, Inc. (OTCQB:
PHOT).
Smart Companies Looking to Enter the Market
Cannabis as a growing market can’t be ignored, and smart
companies are eager to identify ways to enter the market — even if
they don’t grow or sell marijuana. These companies are taking
advantage of innovative opportunities ranging from payment
solutions, accessories, technology, medicine and more. Global Payout,
Inc. (OTC: GOHE) has become a leader in providing cannabis
companies with support in many different areas.
One of Global Payout’s most recent forays into the industry is
its involvement — through partner MoneyTrac Technology (MTRAC) —
with PotSaver, a southern California-based community magazine that
provides information about discounted cannabis-related products for
local dispensaries and shops. Moving forward, MTRAC will provide
Pot Saver with fundamental support and guidance needed to execute
its strategy (http://cnw.fm/8WqxF).
"With the medical and recreational cannabis industry growing at
an unprecedented rate in California, we are determined to be
conscious of the multiple opportunities that currently exist, or
that we can create for MoneyTrac to further expand its brand
throughout the industry as well as tap into every available revenue
source possible," said MTRAC COO Vanessa Luna. "This agreement with
Pot Saver is an excellent opportunity for us to offer the
industry-specific business development expertise we have acquired
to help further PotSaver's go-to-market strategy, while
simultaneously creating a new source of revenue for our company as
we continue to expand our own brand throughout the industry."
Subscription Model Designed for Readers
Most recently, the PotSaver brand is expanding its sales and
marketing efforts for MoneyTrac’s signature magazine publication by
launching a subscription-based model (http://cnw.fm/B9gV4). This move provides subscribers
with an electronic version of the publication emailed to them
monthly. In addition, PotSaver has ramped up its social media
efforts in an effort to grow its subscriber base and expand its
presence in San Diego County.
In just one weekend, the PotSaver sales and marketing team
acquired close to 1,000 new subscribers for its publication, which
is distributed monthly to a variety of newsstand locations
throughout San Diego. In the coming year, the company plans to
focus on building a substantial subscriber list and moving away
from its hard copy newsstand distribution model.
This move also allows PotSaver to provide much more targeting
messaging and information. It also provides the company with more
detailed information related to its subscribers, which will allow
the publication to deliver an experience that is tailored more
effectively to its readers.
“The launch of a subscription-based model truly represents the
natural evolution of PotSaver,” said Aaron Adler, PotSaver founder.
“We recognize we are in a market that is very much driven by a
millennial population that demands convenience, and through a
subscription they can now receive PotSaver every month right on
their phone, tablet, or computer. The subscription-based model also
creates an opportunity to target consumers in a more effective
manner by leveraging geographic information to present them with a
publication that offers them discounts closer to home, and more in
line with their needs.”
An Alternative Finance Option
In addition to its involvement with PotSaver, Global Payout and
MTRAC continue to lead the way in providing financial services for
cannabis companies. Though the use and sale of medical marijuana is
legal in 29 states (http://cnw.fm/c6Drq), federal legislation remains the
same as when cannabis was included as part of the government’s
intense war on drugs. Consequently, most financial institutions
refuse to provide services to cannabis companies for fear of
prosecution.
This means that cannabis merchants have been forced to work in a
cash-only economy, creating both inefficiencies and higher risks of
fraud, theft and accounting errors. As a result, cannabis companies
have been searching for alternative payment methods. Global Payout
and MoneyTrac technology are moving to provide that service.
A technology and business development company whose motto is
“Key to Cashless™,” MoneyTrac works to provide an alternative to
the more traditional banking and electronic finance options. In
order to do so, MoneyTrac has leveraged blockchain technology, the
leading way of transferring value outside of the mainstream banking
sector. Blockchain is a distributed ledger system — a form of data
keeping where responsibility for the record is shared across a
network rather than kept in one place.
Blockchain payments offer cannabis companies numerous
advantages. Any customer can access blockchain system, regardless
of whether they have a bank account. Money transactions are made
without any involvement with banks, which are wary about
involvement in cannabis. Payments are almost instantaneous, and
because transactions are recorded over a distributed network, no
controllers are creating bottlenecks or the risk of a single point
of failure.
MoneyTrac’s MTRAC payment system is powered by GreenBox
blockchain technology (http://cnw.fm/GVSh6) and provides cannabis companies
with a payment system that includes electronic payments, decreasing
the risks and inefficiencies of working with cash. Customers can
load a card or digital wallet at a MoneyTrac kiosk. Though
currently focused on the cannabis market, this option may benefit
other companies in high-risk sectors or that are searching for ways
to benefit from blockchain.
An Intricate Knowledge of the Industry
MoneyTrac provides other support services for cannabis
businesses as well. Many cannabis retailers are new to the industry
and are exploring ways to best position themselves. Effective sales
and marketing is always difficult for any business, but in a sector
that is as heavily regulated as cannabis, it can be especially
challenging.
The MoneyTrac team has garnered years of knowledge and
experience in business development and can provide invaluable
advice and support as team members guide clients through the
challenges and opportunities that come with starting and running
profitable businesses. Developed through strategic partnerships
across the financial sector, MoneyTrac professionals possess an
intricate knowledge of the cannabis industry and can ensure their
clients are in regulatory compliance.
Cannabis Companies Vying for Position
Other companies are eager to provide ancillary goods and
services in the cannabis world as they jockey for position in what
looks to be one of the most financially rewarding opportunities of
the year.
Headquartered in Santa Ana, California, Kush Bottles,
Inc. (OTCQB: KSHB) sells packaging,
containers, and other ancillary products for the cannabis industry.
The company helps entrepreneurs entering the cannabis industry
overcome barriers to entry. Kush Bottles is a one-stop shop for any
business looking to operate responsibly and build its brand. Most
recently, the company entered into a merger agreement to acquire
Summit Innovations, a leading distributor of hydrocarbons to the
legal cannabis industry (http://cnw.fm/uN0Un). Hydrocarbon gases are used to
turn cannabis plants into oils, and this acquisition marks Kush
Bottles’ entry into a new business vertical supplying gas to
cannabis extractors.
General Cannabis Corporation (OTCQB:
CANN) is a trusted partner in the cultivation, production
and retail side of the cannabis business. The company operates a
combination of strong operating divisions such as real estate,
consulting, security, financing and the distribution of important
infrastructure products to grow facilities and dispensaries. Just
last month one of General Cannabis’s companies, Chiefton Supply
Co., signed a distribution deal to supply national action sports
retailer Tillys with its first hemp apparel brand (http://cnw.fm/31wBc). An exclusive run of Chiefton’s
spring line of men’s T-shirts will be available in Tillys retail
locations across the country, as well as purchase online.
MassRoots Retail (OTC: MSRT) is one of the
leading technology platforms for the cannabis industry. The
company’s social platform is one of the largest communities of
cannabis enthusiasts. Powered by more than one million registered
users, MassRoots enables consumers to rate products and strains
based on their efficacymand then presents this information in
easy-to-use formats for consumers to make educated purchasing
decisions at their local dispensary. Businesses are able to
leverage MassRoots also provides a way for businesses to
strategically advertise to consumers based on their preferences and
tendencies.
Growlife, Inc. (OTCQB: PHOT) is a nationally
recognized cultivation brand, providing world-class hydroponic
equipment, lighting, nutrients, media, and other cultivation
supplies to commercial and urban operations. Earlier this year,
Growlife announced the launch of a new line of sustainable
eco-friendly products for the indoor cultivation market (http://cnw.fm/KFa6T). These new products will allow
GrowLife’s customers to play a role in providing a greener economic
footprint compared to traditional indoor cultivation methods while
remaining efficient on output and profitability.
Many companies are clearly eager to identify new ways to be part
of the burgeoning cannabis industry—an industry set to explode
within the coming months as the journey to legalization marches
around the world.
For more information about Global Payout, Inc., please visit:
Global Payout,
Inc. (GOHE).
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