CBD Technologies Reshaping The Industry In 2020
The CBD industry has grown faster than anyone could have predicted.
In the last five years alone, it has become a household natural remedy that many use to relieve their health-related ailments.
The market has even been adopted by other industries like beauty and hospitality, with many established companies wanting their piece of the pie as CBD’s popularity continues to grow.
Despite all the positives, however, the fast rate of growth has left many plot holes within the CBD industry that have made it increasingly harder for related businesses to succeed.
This has left many industries looking to create solutions that will help with the technology industry at the forefront of these develops.
Thanks to said innovations and transformative technology, 2020 is looking to be a historic year where many of the aforementioned plot holes are cleared up with clever solutions.
In this article, in particular, we will take you through the four main pieces of CBD technology that will be responsible for reshaping the industry as a whole in 2020.
Using current cultivation methods, people’s bodies only take in about 10 percent of the chemicals from hemp.
This means that people need to take larger quantities and farmers need to grow more to meet demands, but technology means this won’t be necessary for much longer.
In fact, many companies have already started to do this, encapsulating the chemicals that promote relaxation and pain relief simply using water.
Once these modified chemicals are processed, they will bypass the cell’s membrane that filters out parts of the compound, allowing people to feel strong effects faster.
In China, there is a company that has taken this one step further and created a specific formulation that increases the water solubility of CBD.
They do this using nano-technology which makes CBD dissolve within seconds using just water.
It’s this formula, in particular, that has gained attention from global food and beverage manufacturers like Coca-Cola and Red Bull, and could be key for reshaping the CBD industry for good.
MTrac Mobile Payment Software
Managing money has been harder to do in the CBD industry than any other. Due to unclear legislation and rulings, many mainstream banks will not allow transactions of this nature.
This has left brick and mortar stores storing large amounts of money on their premises, with many having to hire security guards around the clock to ensure its safety.
Many industries have tried to find solutions, and it looks like things could finally be changing for the better.
When questioned about this in an interview, Morgan Fox from the National Cannabis Industry Association said, “Forward-thinking companies are stepping in to fill the gaps and helping address the problems caused by a lack of financial services in the cannabis industry.”
This is certainly true for Global Payout Inc, who created MTrac software to provide a cashless payment solution for the rapidly expanding CBD industry.
They started with offering their services to brick and mortar stores, but with recent changes to software, they are now able to handle digital transactions seamlessly, too.
Currently, this software is available in 34 locations, but there is hope that this could expand to a national initiative in the next few years.
One of the biggest concerns in the CBD industry is the lack of regulation from when it’s cultivated to being sold to consumers.
The rise of seed-to-sale tracker software, which was originally created to track pharmaceutical drugs, is predicted to change this in 2020.
Using this software allows transparency across all levels of the life cycle as automatically inputted data tracks CBD from the point of cultivation right up until it’s sold.
This is all thanks to the globally unique 16 digit identifier that is given to each plant or clone at point of existence.
With more cultivators, manufacturers and retail companies in the CBD industry having this in place, consumers will be able to rest assured that the product they’re receiving is monitored and of high quality.
It also has benefits for those directly involved in the CBD industry, too, as it will allow them to use data to analyze the entire supply line and identify errors.
The seed-to-sale trackers are also a good way to understand the product ingredients during manufacturing so that the labels on these products are clear and transparent.
The final biggest difference it’ll have on the CBD industry going into 2020 and beyond, however, is that it allows companies to have a more accurate understanding of conversions.
This will enable them to monitor their ROI, and look at how they can alter parts of the product line to improve profits if that is their business goal.
To compete in the ever-growing CBD industry, many of the best CBD oil companies have turned towards genetic engineering as a way of standing out.
This process involves manipulating the cannabis genome with genetic-editing systems to alter the cells within hemp or CBD plants.
Some of the companies who are already using this or hope to in the next few years see it as a great way to get rid of THC, which prohibits the sale of CBD oils in certain countries.
Others see it as a way of modifying the chemical synthesis process in the cannabis plant to produce more of the desired molecules, which we’ve spoken about above.
As this gains popularity throughout 2020 and beyond, distributors will be able to produce CBD—and other cannabinoids—more cheaply, efficiently and reliably than current procedures.
Manufacturers will also be able to mass-produce rare cannabinoids that are usually only present in trace amounts, leading to greater research into lesser understood chemicals from the plant.
This technology will reshape the CBD industry as a whole as it will allow companies to enhance the health benefits we currently see from CBD-based products.
CBD technologies have worked wonders when it comes to filling in the plot holes that came from an industry that grew faster than predicted.
While getting these technological solutions in the first place seemed like an uphill battle, 2020 is the year where they will be essential for reshaping the industry for future longevity.
From tracing the production line from start to finish from experiencing stronger benefits of CBD, it’s clear to see that everyone will benefit from these changes in 2020 and beyond.