Las Vegas, Nevada — Coda Global, an IBM Business Partner delivering transformative cloud-based solutions, is partnering with the National Association of Cannabis Businesses (NACB) to develop a technology framework that will enable the NACB to deliver a platform, standards and solutions for the NACB’s member base.
Leveraging IBM technologies, the NACB is developing a global technology and data solution for the cannabis industry, designed to respond to government and private-sector priorities, based on this new compliance framework. The new platform is being rolled out on June 1, 2017.
The NACB sought out IBM to leverage the company’s innovative technologies including the Bluemix/SoftLayer dedicated platform, AppScan security solution and Watson Analytics’ cognitive capabilities. IBM Cloud and encryption technologies are allowing the NACB to address barriers to sustainable growth in the emerging cannabis industry, including compliance, security and supply chain management. The NACB’s arrival heralds a new age of compliance for the cannabis industry, combining global technology and data resources with federal, state and local regulatory expertise.
The NACB’s Joshua Laterman, along with Coda Founder and CEO Sam Fatigato, presented a session titled, “How To Keep Up with an Exponentially Growing Industry: IBM Cloud and Microservice Development,” at InterConnect 2017 on Thursday, March 23 at Mandalay Bay Resort and Casino Las Vegas.
According to a recent report by investment banking firm Cowen & Co., the legal market for medical and recreational cannabis sales reached USD 6 billion in 2016 and is expected to grow to USD 50 billion by 2026, making it the fastest-growing industry in the US.
The NACB is pioneering a legitimate business environment and infrastructure for the US cannabis industry. As a self-regulatory organization, it promotes transparency, legal compliance and responsible business practices for the cannabis industry. It is creating consistent standards for responsible operation of cannabis businesses, regardless of jurisdiction. The NACB facilitates compliance by providing best-of-breed technology solutions including data storage, enabling members to effectively manage their businesses, preserve accounting records and establish accurate valuations. The NACB only accepts members that adhere to the highest standards and practices and operates in the best interest of the industry.
For more information on the NACB, visit http://www.nacb.com. You can also let me know what you think by using the comments feature below.