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But because cannabis is still federally illegal, most traditional software and technology providers won’t participate in the cannabis industry — from payments to point-of-sale to online shopping carts. That means pretty much everything in the cannabis industry, including all of the tech, is purpose-built from scratch. No one is starting with scale. They’re all starting with a brand-new product that they release to market and then build their customer base.
The massive opportunity for innovators that a greenfield presents — like the state-regulated cannabis industry ‚ requires people to step outside of their lane to tackle problems and gain a foothold. To succeed in the market, innovators often are required to have a mastery knowledge in their business offering, as well as a creative mind to be able to navigate the unique market with agility.
Similarly, to operate compliantly and transparently requires a lot of innovation because you can’t just put something together, launch it and hope you’re compliant. You have to go and get buy-in from organizations that tend to be, in a traditional sense, conservative and intentional about how they move forward — and not typically on the leading edge of innovation.
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