The Latest "Buzz on the Street" Show: Featuring Codebase Ventures (CSE: CODE) (OTCQB: BKLLF) Cannabis Investment | Financial Buzz

The Latest “Buzz on the Street” Show: Featuring Codebase Ventures (CSE: CODE) (OTCQB: BKLLF) Cannabis Investment

FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Code Cannabis Investments Subsidiary to Focus Investments in Early Stage Cannabis Ventures.”

Codebase Ventures Inc. (CSE: CODE) (FSE: C5B) (OTCQB: BKLLF), an investment company announced the formation of a subsidiary for its investment focus in the cannabis sector. Codebase has formed a dedicated investment subsidiary named Code Cannabis Investments. The focus of the subsidiary will be on identifying cannabis industry assets and startups that require capital and expertise to accelerate their business models and scale to meet areas of demand in the market.

Codebase Ventures Inc. focuses on strategic investments in emerging sectors and markets, including cannabis and technologies such as blockchain and cryptocurrencies, where innovative business models and technologies have the potential to be transformative and deliver the greatest value to shareholders.

Last month, Illinois became the 11th state to legalize the recreational use of cannabis within the United States. The state’s decision marks another high point in the movement that continues to sweep through the U.S. Specifically, ColoradoWashington and Oregon account for 42% of the total U.S. cannabis sales. Meanwhile, smaller markets such as IllinoisMassachusettsMichiganNew Jersey, and New York only make up 11% of the total U.S. market, according to the Chicago Tribune. However, analysts from Brightfield believe that by 2023, the market share will flip, with eastern states accounting for 34% of the market, while western states drop by 20%. However, the market is still progressively maturing across the whole country, and even abroad. Furthermore, similar to other prominent global industries, the need for adaptation is prevalent within the cannabis market. The integration of technology has often made daily tasks for companies exponentially easier, further driving their financial growth. In the cannabis industry in particular, technology is being leveraged among cultivators, distributors, and retailers to create seed-to-sale blockchain ledgers. Seed-to-sale technology is a tracking and reporting system that the government and businesses both rely on. The technology keeps track of each and every single gram of cannabis from when it has been planted to when it is purchased by a consumer at the store. Moreover, throughout the process, the details are also relayed back to the government in order to ensure quality control and prevent mixture with illicit products. The advanced technology benefits both businesses and consumers by ensuring that products are delivered from a safe channel and are properly grown. Additionally, the regulatory matters that the government and businesses are implementing are further promoting the legal marketplace. And consumers who have access to information regarding where the cannabis was grown, what it was treated with, and where it has been before it was delivered will further drive sales growth. As a result, the global legal marijuana market is expected to reach USD 146.4 Billion by 2025 while registering a CAGR of 34.6%, according to data compiled by Grand View Research.

Aside from seed-to-sale blockchains, the cannabis industry has introduced a variety of innovative technologies. For instance, The Verge reported that advanced technological applications such as machine learning and automation are becoming increasingly popular within the cannabis industry. Specifically, a Massachusetts-based company, Bloom Automation, has developed a robot that can automate the cannabis trimming process, eliminating the need for humans. Furthermore, the potential integration of automated learning can develop into a more advanced system. In particular, cannabis startup Seedo has created an automatic cannabis farm system that has complete automated climate control, consistent yields, and automated hydroponic growth. By using machine learning, the systems can adapt and improve themselves to provide better results. Moreover, the integration of digital payments has also become increasingly popular within dispensaries. Similar to most retailers, many want to provide their customers with exceptional and speedy payment processing. However, due to federal regulations, many banks and payment institutions are either prohibited or have decided not to deal with businesses in the cannabis industry. Consequently, smaller payment processors have expanded their business and offered dispensaries and retailers high-speed and secure payment portals. Overall, the collective effort by tech entrepreneurs is further promoting the growth of the cannabis industry by accelerating operations and bolstering financials. “A lot of individuals nowadays are working on really advanced technologies to improve and optimize the formulation and delivery of cannabis. We are seeing new technologies that control how quickly you feel the effects, the consistency of effects, and the entire consumer experience. Tech innovation and ongoing R&D are ingredients that the industry needs to continue to mature and grow,” said Michael Garbuz, Co-Founder and President of Materia Ventures and Founder of High 12 Brands.

For more information, please visit: Codebase Ventures Inc.

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