Friday 28 October 2016

Microsoft invests in cannabis industry

Zlata Rodionova

Published 21/06/2016 | 07:01

Cannabis plants.
Cannabis plants.

Microsoft is partnering with a software company that supports the cannabis industry, marking the first time a major company has put its money behind legal cannabis.

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Microsoft is teaming up with Kind Financial, a Los-Angeles based start-up founded in 2013. Kind’s mission is to make it easier for marijuana-related businesses to make safe and secure transactions, within the law.

Kind will be running a new software for governments in Microsoft's cloud, Azure

Analysts have said that the move could be an important step as marijuana becomes accepted as a legal drug in the US.

David Dinenberg, Kind’s CEO, said no one can predict the future of cannabis legalisation. He expects that the industry will always be subject to strict oversight and regulations similar to alcohol and tobacco.

“Kind is proud to offer governments and regulatory agencies the tools and technology to monitor cannabis compliance.

“I am delighted that Microsoft supports KIND's mission to build the backbone for cannabis compliance,” Dinenberg said.

A Microsoft spokesperson said that the company is supporting government customers and partners to help them meet their missions. 

"KIND Financial is building solutions on our government cloud to help these agencies regulate and monitor controlled substances and items, and manage compliance with jurisdictional laws and regulations,” Microsoft said.

Bill Gates, Microsoft founder, voted for the legalisation of marijuana in Washington, his home state.

“It's an experiment, and it's probably good to have a couple states try it out to see before you make that national policy,“ he told Buzzfeed in 2014.

Alaska, Colorado, Oregon, Washington state, and Washington DC, have already legalised recreational, as well as medical, marijuana for adults. Twenty more states have legalised marijuana for medical use only.

(© Independent News Service)

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