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Quantum 9 fosters Cannabis Industry Technology Open Standards for Compliance Reporting

Cannabis Industry Regulatory Compliance

Chris Bochenski with Quantum 9

The U.S. Department of Justice announced an update to its federal marijuana enforcement policy in light of recent state ballot initiatives that legalize, under state law, the possession of small amounts of marijuana and provide for the regulation of marijuana production, processing, and sale.  This revision of the United States federal position is a watershed that has critical industry implications, especially for technology providers.

Both Colorado and Washington states are poised for legalizing adult-use recreational marijuana sales on January 1st, 2014.  As such, the Cannabis industry was awaiting federal reaction. That official response: "Based on assurances that those states will impose an appropriately strict regulatory system, the Department has informed the governors of both states that it is deferring its right to challenge their legalization laws at this time… Deputy Attorney General James Cole says the Justice Department… indicated they would not challenge Colorado and Washington marijuana laws as long as they implement effective enforcement systems."  See the C-SPAN video.

In light of the U.S. Deputy Attorney General's latest comments, it's incumbent upon us, the technology side of the Cannabis industry, to deliver on the implementation of compliance.  Technology is the tool to show federal and state governments that we can make transparency and auditing a reality.  Washington state is in the process of evaluating which technology provider will help them bring that to fruition.  But, while Washington will likely award a statewide inventory tracking system contract, they will not mandate its use.  So, by necessity, we (meaning Cannabis technology providers) should self-regulate, under the auspices of the National Cannabis Industry Association, and define an open XML electronic reporting and web services standard for software data exchange via the Internet that can be adopted by every appropriate U.S. and Canadian regulatory body, and eventually the U.S. federal government, to audit compliance.  This open industry standard will not only enable and ease regulatory compliance reporting at a state level, but it will satisfy the pragmatic federal challenge, thus enabling this industry to thrive.

For expert advice on Medical Marijuana, Quantum 9, is your trusted partner.  

About Michael Mayes

As Chief Executive Officer for Quantum 9, Inc., Michael has assisted in funding some of the largest commercial cannabis projects in the world. Michael has been a cannabis investor since 2009 in Colorado’s first legal for-profit cannabis market. As the co-founder and CEO of Quantum 9, Inc., Michael has spent years designing technology and collaborating with countless consultants on the forefront of the cannabis industry. Collaborating with the brightest minds and contributing to world-class organizations has been an incredibly enlightening and rewarding experience for him. Also, he has amassed a comprehensive and award-winning team engaged globally for public policy best practices through the prioritization of environmental sustainability and patient care. Michael is a member of the International Cannabinoid Research Society (ICRS), contributor to Marijuana Business Daily, quoted in the Chicago Tribune, Tampa Tribune, Yahoo Finance, Tampa Tribune, Sativa Magazine, CBC and the Daily Herald. His media appearances include several CBS and WGN appearances and international presence on BNN Commodities in Canada. On the public policy front, Michael and his team were instrumental in their work of drafting the Kentucky Medical Marijuana Bill for Senator Perry Clark. Most recently, Michael taught a class for the International Pharmaceutical Academy in Toronto, Canada. He spoke on Cannabis Pharmacology, and the effects cannabis has on the endocannabinoid system.

One Comment

  • Roger says:

    Quantum 9 is a true leader in the industry, not only with their solution, also with their vision. Open standards are critical for innovation in solutions.

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