Software giant Microsoft Corporation MSFT has partnered with KIND Financial to acquire government-facing contracts for seed-to-sale tracking in the cannabis industry.
According to a press release issued by KIND, the partnership will be called "KIND Government Solutions." In addition, Microsoft selected KIND to participate in its newly created Microsoft Health and Human Services.
KIND's "Agrisoft Seed to Sale for Government" helps governments and regulatory agencies to regulate and monitor all aspects of cannabis compliance. The platform collects and monitors the critical data needed to track compliance with the state and jurisdictional rules, laws and regulations governing cannabis-related businesses.
"No one can predict the future of cannabis legalization, however, it is clear that legalized cannabis will always be subject to strict oversight and regulations similar to alcohol and tobacco; and, KIND is proud to offer governments and regulatory agencies the tools and technology to monitor cannabis compliance," said KIND Financial Founder and CEO David Dinenberg, said in a statement.
The program is expected to be run on Microsoft's Azure Government cloud.
"KIND agreed that Azure Government is the only cloud platform designed to meet government standards for the closely regulated cannabis compliance programs," Kimberly Nelson, Executive Director State and Local Government Solutions from Microsoft said in a press release.
At the time of writing, shares of Microsoft were down 0.73 percent to $50.02.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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