Time to shift the paradigm on how our industry manages data
The way the legal cannabis industry has managed the tremendous amounts of data it collects has proven to be an Achilles heel for the industry when it should be enabling it to leapfrog into revolutionary developments in retail and supply chain management. I helped Microsoft implement in traceability platform back in its earlier days, and I have woven the “paradigm shift” part of their culture into my own technology company. We have a division that deploys technology into legal cannabis businesses of any licenses type and have seen the technological challenges that face the industry first-hand since 2013.
Our industry generates a lot of data. One of the great benefits in easing the legislative restrictions placed upon cannabis and hemp is removing the product from the black market, licensing qualified producers, testing the product for purity and quality and then retailing the product in a regulated framework to limit access to people who aren’t supposed to have access. But each step generates data, and those data are usually transmitted to the state. Or the onus of purchasing hardware is passed onto the industry at wasteful and unsustainable cost levels. The current industry architecture is predicated on states creating and maintaining systems to collect the tremendous amount of data being generated, and it is more data than they require to fulfill their mandate: insure compliance based on state law and collect tax revenue. Trying to manage all these data at the human level can be bottlenecking and is certainly overkill. [i]
States are not IT companies. States are not business analysts. Therefore, we propose they are not the right entity to maintain those data. Dauntless has provided an alternative: take the state out of the center of data collection and provide them with the data, in an easily digestible format, to fulfill their mandate. Dauntless, Inc. has created the GIANT ecosystem for the cannabis industry (Global Interoperable Application Network Technology) — through GIANT’s universal API list, we can integrate with any type of cannabis business — and have partnered with a number of data analytics innovators. As veterans of the industry (parent company of the venerable TraceWeed product that traces 35% of all the cannabis transacted in Washington State with the exclusive Click-to-Trace feature), we know very well how to keep business owners compliant and state regulatory agencies awash in the necessary data to minimize the requirements of deploying state-legal cannabis market infrastructures.
Imagine an environment where the data is managed and organized, nationally (or globally), in a centralized cloud farm. With advancements in machine learning, deep data dives and AI-based analytics, the data is unfurled to empower businesses instead of hamstringing state enforcement agencies and hobbling local businesses with unnecessary hardware costs. Imagine an ecosystem where an IT data company processes the data and, instead of building and maintaining a compliance infrastructure at the state level, they simply subscribe to the reports necessary to audit compliance and collect tax revenue. Meanwhile, businesses of every license type are able to choose the analytical tools best suited to their business category and personal management style, and draw upon a repository of data that crosses state and even international borders. We can deliver that TODAY. But it requires us to evolve our thinking as an industry. It requires us to shift the paradigm. But we’re Dauntless, and we’re prepared to pave that path.