Microsoft software is set to be used in collaboration with a marijuana financing company based in LA that's known as 'Kind' in order to help monitor trade.
Given that the tech superpower is based in Washington, where marijuana is legalized, it hopes that this new business venture will increase sales as it sees the potential for profit as more states become legalized. By delving into a market that's almost entirely untouched by other large corporations, Microsoft's endeavor places it ahead, despite the controversy surrounding the fact that marijuana hasn't been legalized federally. Although there's a chance that this could hurt the company's reputation among more conservative consumers, it believes that providing state and local governments with Microsoft software is important to ensure that sales are tracked and done legally.
What's Driving This Trend
- Legal Marijuana Sales Tracking
- Companies using software to track legal marijuana sales presents a disruptive innovation opportunity for the tech industry.
- Corporate Collaborations with Cannabis Industry
- Collaborations between major corporations and the cannabis industry present opportunities for innovation within marketing and data analytics.
- Industry Penetration in Untapped Markets
- Entering industries that are untouched by other large corporations presents opportunities for disruptive innovation and market growth.
Who This Affects Most
- Technology
- The use of software in the legal marijuana industry presents opportunities for growth and innovation within the tech industry.
- Finance
- Collaborations between financial companies and the cannabis industry present opportunities for innovation in business models and financial services.
- Marketing
- Collaborations between large corporations and the cannabis industry present opportunities for innovation within marketing strategies and consumer behavior analysis.
