With the biggest cannabis conference of the year, MJBizCon 2024, quickly approaching, our team is looking ahead at the most exciting concepts and technology innovations in the cannatech industry. Here are the top 5 topics we are most excited to see and discuss this December at MJBizCon 2024!
1. Evolving cannabis delivery
The shift towards an on-demand, delivery-centric culture is complete. And cannabis is no different than takeout dinners or on-demand liquor delivery.
At IDScan.net, we view examples such as Boston, Massachusetts as a great example for implementation of secure, safe, efficient cannabis delivery programs. Per the Cannabis Control Commission of Massachusetts, recipients must be pre-verified by providing a government issued identification card that will also be used at the time of delivery. This ensures that delivered cannabis interactions adhere to the same stringent standards in place for in-dispensary purchase.
Digital identity verification is an ideal pre-verification solution for cannabis deliveries. It can easily be integrated into a native app or customers can be prompted via text message link sent by a budtender. Once prompted, customers can quickly and easily pre-verify themselves by uploading a picture of their ID and completing the face match portion. This ensures minors don’t have the ability to order cannabis online, and dispensaries have an accurate record of all remote orders.
2. Dispensary in a box
Unattended retail machines, also known as automated retail kiosks or vending solutions, have significant potential to revolutionize cannabis sales, creating a “dispensary in a box” model that could cater to a wide range of consumer needs.
Vending machines for age-restricted products are not a new concept but are far less common in the US today than their non-age-restricted counterparts. We have seen rapid changes in the unattended retail landscape over the last two years, and expect this market to continue to evolve, and become more inclusive of cannabis products.
Unattended retail offers the opportunity for cannabis retailers to open smaller, leaner “stores” using technology, without the need for significant storefront space, or staffing.
Our customer ZAR Wellness is already using a vending machine to sell cannabis products. Their intent is to offer business owners the opportunity to purchase a ZARBOX of their own, which can be installed in non-traditional environments, allowing for new revenue streams without the startup costs.
The broader adoption of unattended cannabis retail machines could also expand access to legal cannabis in areas where traditional dispensaries are scarce, effectively democratizing access while maintaining strict safety standards.
Given the success of business-in-a-box solutions from Apple, cosmetics providers, and boutique food manufacturers, we are excited to see how this concept is applied to the cannabis industry.
3. Cannabis lounges
Nevada, and now California, are offering licenses for cannabis lounges. Similar to the Amsterdam model, individuals are now able to visit licensed cannabis lounges to consume cannabis on site. Most states where recreational cannabis is legal have laws in place that allow the legal purchase of weed, but state that individuals must consume the products in a private residence. This new legislation caters to both tourists and locals alike.
By opening a licensed facility that allows individuals to consume cannabis products, it allows tourists who may not have recreational access at home a safe space to consume the local product. Concurrently, it gives locals a venue to meet up and hang out, much like a cocktail bar, where they can safely use cannabis products.
While this is currently only legal in California and Nevada, we look forward to the continued growth of this business model and how it evolves over time.
4. Will legal psychedelics be treated the same way as cannabis?
Currently, sales of adult-use psychedelics such as psilocybin are still not legal, though they are decriminalized in Colorado and Oregon. We are interested to see if regulation will follow a similar pattern as cannabis regulation and compliance requirements.
- What will age verification regulations look like? Will they be more stringent than regulations on cannabis sales?
- Will states allow for psilocybin to be sold online? What about delivered?
- Will fines and penalties for underage sales be more severe for psychedelics than for cannabis?
We believe that it is likely that the legal psychedelics industry will take many cues from recreational cannabis and we can’t wait to see how the industry uses lessons learned to put more streamlined, common sense legal frameworks in place.
5. New state onboarding
By December, we should know the fate of cannabis related ballot initiatives in 4 states. Florida, Nebraska, North Dakota, and South Dakota all have pending legislation relating to the legalization of cannabis. In Nebraska, there are two acts on the ballot that would legalize marijuana for medical use. In Florida, North Dakota, and South Dakota, there is pending legislation that would legalize cannabis for recreational use, and these initiatives are expected to drive voter turnout.
Nebraska is one of only four remaining states with no cannabis program at all, so this legislation would be a major step forward for Nebraskans. Florida has already legalized medical marjuana, but this new legislation would allow anyone over 21 the ability to purchase cannabis for recreational use from a licensed dispensary. Is the third time the charm for the Dakotas? This will be the third time that recreational marijuana use has made it onto the ballot in both North and South Dakota, so we are interested to see if recreational use finally becomes legal in these states.
Post-legalization, we are always interested to see how each state will implement their programs and what types of technology they will require to ensure their programs are safe and efficient.
Conclusion
With just a few short weeks until MJBizCon 2024, we are getting excited and making final preparations. We will be in booth 7409 ready to discuss legality, compliance, and trends while also showcasing our suite of ID scanning and ID verification products and solutions for the cannabis industry to help meet your needs!
