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Could Microsoft Make Cannabis Mainstream?

Ryan Allway

June 17th, 2016

Policy, Top Story

Microsoft Corp. (NASDAQ: MSFT) plans to break into the cannabis industry by providing tracking services to state governments through a partnership with KIND Financial.

The move is a sign that the stigma associated with the cannabis industry is rapidly falling as a growing number of states legalize the drug. While Colorado, Washington, Oregon, and Alaska have already allowed recreational usage, the November elections could bring a number of new states into the fold – including California. Many other states have already legalized medical forms of marijuana for a number of different medical conditions.

At the same time, Microsoft’s involvement in the space comes as it tries to drum up business for its cloud services business. Many competitors have refused to deal with the marijuana industry – such as Google and Facebook – which has opened the door wide. The only risk relates to its reputation for dealing with marijuana companies, which it apparently believes to be a low risk – a positive sign of what’s to come for the industry.

Microsoft’s move into the space could also impact other start-ups that are already operating in similar fields. For example, BioTrackTHC began with the goal of tracking opioid drugs and expanded into the cannabis industry as legalization became a reality. The tech firm has contracts in five states, including Washington, Hawaii, New York, Illinois, and New Mexico, while another firm – Metrc – has contracts in Alaska and Oregon.

The cannabis industry could see similar moves in the near future from other large companies looking for a slice of the pie. With the potential to surpass $35 billion in size by 2020, according to GreenWave Advisors, there is an enormous untapped opportunity for these firms. This may be especially true in the enterprise space where customers include businesses and governments that have more cash than consumers.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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