More and more states in the Union are lessening the laws as they pertain to marijuana, with Colorado and Washington going as far as legalizing it altogether with various degrees of regulated guidelines.
The industry is booming, businesses and corporations are all vying for a piece of the pie. According to Colorado Governor John Hickenlooper in a recent report by the BusinessInsider.com, sales and excise taxes for the next fiscal year would produce some $98 million, well above a $70 million annual estimate given to voters when they approved the pot taxes last year.
The market expands well beyond just buying the marijuana plant, it also stretches to edibles, marketing, the way it’s tracked, security, banking and dispensing technology.
Several companies have expressed interest in making automated cannabis dispensing machines filled with edibles and other marijuana related products such as hard candies, granola and medical products.
One such Company is the Tranzbyte Corporation (OTC: EERB) located out of Tempe, Arizona. Tranzbyte works with established and early growth businesses to maximize potential using shared resources. In a release from the company’s American Green division, they plan to unveil its first automated age-verifying dispensing machine at a christening event in Avon, Colorado on April 12th.
Another company combining technology and the marijuana sector is HempTech, a FutureWorld Energy, Inc., company (OTC: FWDG). In an announcement on March 25, 2014, company officials released information that they are in talks with manufacturers to build automated state-of-the-art medical dispensaries and storage machines. The machines called CaNNaBoX would be used for dispensing medicinal marijuana and CBD-based Pharmaceuticals & Nutraceuticals infused with edible consumable goods, like hard candies, granola, and other food products.
“We believe that the next frontier in cannabis delivery and hemp and marijuana related Nutraceuticals will be in the automated dispensing world, accessible 24/7 in hospitals, hospice care facilities, urgent care facilities, doctors’ offices and pharmacies” the company said in a media release.
Much like other companies in the growing Medical Marijuana and Cannabis market HempTech is still fine tuning its business plan which consists of what they believe to be the fundamental platforms necessary for the sustenance and growth of the industry.
If the technology is there and states continue to legalize marijuana for medical uses and leisure consumption, it might be safe to say these new machines will be the next wave of innovation and the future of buying and selling marijuana.