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Business - Cannabis

This seed-to-sale cannabis platform wants to be the PayPal of pot

  • Microsoft became one of the first major tech companies to affiliate its name with the cannabis industry, following their 2016 partnership with a Los Angeles-based company, Kind Financial. 2-years later the company introduces yet another addition to their services–Kindpay. 
  • CEO David Dinenberg: “We hope Kind Pay will be the PayPal for the cannabis industry…We’re going to be bringing a phone-based payment system, very similar to your Starbucks app or your Dunkin’ Donuts app or any of those retailer rewards-payment mechanisms.” 

In June 2016, Microsoft made a startling announcement: It had partnered with a Los Angeles-based company called Kind Financial to start offering marijuana software to government agencies. The software, part of a government-specific version of Microsoft’s Azure cloud platform, allowed states that had legalized medical or recreational marijuana to easily track that cannabis from the moment it was planted to when it was sold at a local dispensary.

Through the relatonship, Microsoft became one of the first major tech companies to affiliate its name with the cannabis industry. Now two years later, Kind’s software is being used by the state of Rhode Island and by hundreds of companies in states with legal marijuana across the United States, as well as in Canada, Australia, and Jamaica. And Kind Financial is gearing up to introduce a new product: Kind Pay.

“We hope Kind Pay will be the PayPal for the cannabis industry,” says Kind founder and CEO David Dinenberg. An obvious next step for the company, the service will enable credit-card transactions in states where marijuana is legal. Accepting plastic is currently a problem for the legal-cannabis business: The drug is still illegal at a federal level, leaving banks unwilling to work with the industry.

“We’re…

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