Recreational marijuana is legal in four states and the District of Columbia, but many financial institutions and other big businesses have yet to embrace the new industry.
Microsoft is breaking that trend by teaming up with a Los Angeles company that provides transaction and compliance tools for the marijuana industry.
Microsoft and Kind Financial announced a partnership today to build software for governments that have legalized marijuana to monitor pot commerce, or “seed to sale” tracking as it’s called in the industry.
The new program is called Agrisoft Seed to Sale for Government, and it allows governments to regulate all aspects of the industry, including plant management, point-of-sale transactions and financial reporting. The software will be on Microsoft’s Azure Government, a version of its cloud platform designed specifically for government agencies.
Matt Cook, former senior leader of Colorado’s Medical Marijuana Enforcement Division and author of Colorado’s medical marijuana laws, will be a special advisor on government matters for Kind.
Kind Financial’s Agrisoft Seed to Sale program helps retail operations, growers, and producers in the cannabis industry with growing, manufacturing and sales. Kind also makes ATM-like kiosks that help facilitate marijuana sales.