Business
SinglePoint and Smart Cannabis Corp. Sign Joint Venture to Integrate, Distribute ‘SMART APP’ for Cannabis Businesses
SinglePoint and Smart Cannabis Corp. Sign Joint Venture to Integrate, Distribute ‘SMART APP’ for Cannabis Businesses.
About this update from Smart Cannabis Corp.
[{"type":"text","content":"\n\n SEATTLE, Dec. 05, 2017 (GLOBE NEWSWIRE) -- SinglePoint, Inc. (OTC:SING) today announces a joint venture relationship with Smart Cannabis Corporation (OTC:SCNA) (www.smartcannabis.com) in which SinglePoint will license and market Smart Cannabis’ SMART APP, an industry specific application that enables cultivators to control entire operations from a mobile device. The SMART APP is leading the way in efficiently cultivating cannabis through the introduction of IoT technology (Internet of Things) to greenhouses. This SMART APP IoT technology measures everything from nutrient levels in soil to watering cycles, to parts per million of carbon dioxide in the air. SinglePoint and Smart Cannabis Corp. will also work together to integrate SinglePoint’s bitcoin payment solution. This gives cultivators the ability to collect payment for their sales via the payment application, making for a safer and more secure transaction.\n “Cultivators need a solution to secure their payments. We are looking to provide a solution that can be used from seed to sale, the entire life cycle. The transaction from a cultivator to a processor or dispensary can be huge, over $150,000 per transaction, and it is simply not safe or efficient to carry that kind of cash to a transaction. We believe we can help secure and track this transaction with our solution,” states SinglePoint President Wil Ralston. Additionally, SinglePoint and Smart Cannabis Corp. will work together to finalize a track and trace solution. This solution, already available for Smart Cannabis cultivator customers, be developed by SinglePoint and deployed to a consumer base that will bring the solution full circle. “Consumers who walk into a dispensary, where a cultivator is using our system, will be able to see how, when, and where the product was grown. There is no other system on the market like it and we plan to be the first company to use transparent and traceable blockchain technology to bring this “track and trace” product knowledge to consumers,” said Ralston. John Taylor, president of Smart Cannabis Corp., said the company is excited to “team up” with SinglePoint. “They are an ideal partner for us to expand our business beyond California for both our current products, our line of innovative automation, and our trace and...