BOTS, Inc. Announces Blockchain and Robotics Based Initiative to Optimize Supply Chain Management for the Legal Cannabis Industry - Seite 2

Trading and Third-party Impacts 

Blockchain technologies are disrupting many industries including legal cannabis markets. Blockchain-enabled applications can also address issues such as reduced costs, reducing fraud, error, and otherwise compromised transactions, and limiting credit risk and transaction finance requirements. By trading cannabis raw materials and finished products on a blockchain solution, market participants benefit from increased exchange speed, improved availability of data, and enhanced reliability and suitability as transactions are verified in real-time. Ultimately, this could result in minimizing transaction errors and overall costs.

Total USA Cannabis sales could rise as high as $37 billion by 2024 according to exclusive projections from MJBizConNEXT Direct published recently.

According to the Cannabis Industry Overview Statistics published by Atheneum Collective:

• 67% of Americans believe marijuana should be legalized.
• 87% of the total sales revenue came from the black market.
• As of 2020, there are 243,700 legal, full-time cannabis industry jobs.
• U.S. cannabis workers report a 10.7% higher median salary than the national average salary.
• Thirty-four states have approved marijuana for medical uses (while federal legalization seems inevitable).
• Legal marijuana sales are projected to reach $22 billion by 2022 (without federal legalization).
• Cannabis sales are expected to top medical sales within the next two years.
• The cannabis market will be worth $73.6 billion by 2027.

"As a robotics and A.I. company focused on the development and implementation of proprietary technologies for different industries, we understand the importance of developing new technologies, especially blockchain and A.I.-based innovations, to help companies in the legal cannabis industry to get a competitive advantage and cost efficiency," says Paul Rosenberg, CEO of BTZI.

BOTS Inc reached out to its technology and finance partners and cannabis industry executives, including major licensed producers, regulated quality testing labs, retail distributors, dispensaries, and government regulators. This advanced blockchain initiative is a collaboration among the whole verticals in the cannabis industry. It will be designed to meet industry and specific regulatory requirements. Our BTZI Blockchain and Robotics initiative intend to onboard significant industry participants as we launch our cannabis supply chain solution.