Microsoft, who were recently in the news for acquiring Linkedin for $2.6 billion is joining the business by partnering with a company that operates software that tracks marijuana plants.
Kind financial has announced a tie up with Microsoft to provide cannabis tracking and tracing solutions to states, counties and cities in the United States.
As state after state in the USA has legalised marijuana in one way or another, big names in corporate America have stayed away entirely.
Kind founder and CEO David Dinenberg welcomed yesterday’s announcement by posting on Twitter and LinkedIn, “What a huge day for @kind_financial and the #Marijuana Industry!”
LOS ANGELES (AP) _ Microsoft is dipping its toe in the legal marijuana business. Microsoft will not be working with Kind’s Kiosk division or any point of sale services – this is strictly for government agencies. According to its LinkedIn profile, the company launched because the recently legalized marijuana market lacked the traditional banking connections that enable other types of businesses to access loans, lines of credit, investments and other financial services.
Similarly, other USA states are still debating on the legalization of the use weeds since marijuana is considered a federally regulated substance.
This week Microsoft became the first major tech company to enter the legal marijuana industry.
Kind’s technology is created to monitor marijuana market activity to prevent the illegal trade of cannabis products along every part of the supply chain.
Microsoft’s Executive Director State and Local Government Solutions, Kimberly Nelson said that, “KIND’s strategic industry positioning, experienced team and top-notch-technology running in the Microsoft Azure Government cloud, made for an easy decision to align efforts”. More states will be voting on cannabis legalization later this year.