Even as cannabis is making a big splash across the country with more and more states legalizing recreational and medicinal use, the industry itself remains quite ‘private.’ Business owners often rely on shell or parent companies so they can safely handle monetary transactions. Many are still hesitant to communicate via internet or text. For consumers, information that is normally secure and private is required to access or purchase marijuana, such as patient medical history and personally identifiable information obtained from drivers’ licenses and government issued IDs.
With roughly $20 billion projected in 2020 cannabis sales, you can expect an obscene amount of private consumer and business data being aggregated in the coming years. But where is that data stored and how safe is it?
Over the last few years, we’ve learned the cannabis industry is just as susceptible to data breaches as companies like Equifax and Target. Most recently, one such breech was detected in THCSuite on Christmas Eve 2019 and the unprotected database wasn’t secured until three weeks later. The breach targeted certain dispensaries in Maryland, Ohio and Colorado and disclosed personal information such as patient purchase history, medical records, and identity information for roughly 10,000 consumers and dispensary employees. In 2017, MJFreeway suffered two security breaches within six months, leaking consumer data and exposing their source code.
Look for Trust, Experience and Data
We know there is a strong need for a trusted technology partner in the cannabis industry. At Flourish, we value the power of secure data and you can trust us as your full data warehouse. We not only collect, report and safeguard important information required by state-regulated compliance systems but we securely aggregate additional critical business data into actionable analytics and insights that you can utilize to optimize your business.
And have we mentioned we love to build software? Our team is a robust mix of software engineers, supply chain experts, experienced cannabis professionals, and friendly support and implementation managers. We continue to improve Flourish with new releases every two weeks, ensuring your data is secure and our software can manage the complex nature of the cannabis industry. Click here to take a quick peak at what was in our latest release.