It’s been hard for some people to understand what blockchain technology is and how bitcoin and blockchain are not “samsies“. Still, though, industries of scale are playing on this naivete…well all but some. The industries that have begun to truly harness the power of blockchain are actually being found in the unlikeliest of places: Cannabis.
While the focus of late has been on FDA oversight of CBD, the real story could really be found with new technologies and how they could quickly “change the game” for this hot sector.
Which Companies Have Welcomed Blockchain With Open Arms?
Leafbuyer Technologies, Inc. (LBUY) announced that it launched Phase One of its multiphase blockchain initiatives on December 20, 2018. This first phase integrates with the Company’s loyalty platform, Leafbuyer Loyalty. This launch creates a bridge for cannabis consumers to eventually complete monetary transactions electronically with dispensaries and product companies.
Now, within the Leafbuyer Loyalty application, consumers can choose to create their own blockchain wallet, called the Leafbuyer Wallet. Immediately, when a consumer creates a Leafbuyer Wallet account at a participating dispensary, a link is sent through SMS to their mobile device. Through this link, the consumer can view their account, track all transaction history, and see their loyalty points. Leafbuyer Wallet consumers can visit their account at any time through their smartphone without needing to be onsite at a participating dispensary.
“This first step in our blockchain initiative lays the groundwork for Leafbuyer to utilize blockchain and cryptocurrencies in our business plans,” said Leafbuyer CTO Michael Goerner.
Blockchain allows for a digitized, decentralized, secure environment in which transactions are made and information is stored in a verifiable, permanent way. This leading, anti-fraud technology supports Leafbuyer’s initiative to provide transparency with its customers and consumers.
“The sky is the limit with blockchain,” said Leafbuyer CEO Kurt Rossner. “The technology will help shape the cannabis industry and open doors to new revenue possibilities for Leafbuyer. We want to offer the highest level of transparency with customers, and blockchain will help us accomplish this goal.”
Leafbuyer garners revenue from the sales of its sophisticated marketing technology platforms, which drive cannabis consumers to dispensaries and product companies. The solutions include texting/loyalty, mobile application-based order ahead, blockchain, and access to millions of cannabis consumers through the Leafbuyer.com website and its network partners.
One Of The Biggest Deals Yet For This Marijuana Stock?
Leafbuyer Technologies Inc. (LBUY) announced that it had formally signed a letter of intent to acquire a majority stake in a Las Vegas-based trade show operation, CBD.io. This isn’t just any trade show operation, CBD.io operates one of the largest and most visible expos in the CBD industry according to Leafbuyer (LBUY).
How Big Is CBD.io?
Let’s look at last year’s event: With over 270 vendors and a slew of amazing features, CBD.io attracted buyers from all over the world including several big-box retailers like Costco, Walmart, and GNC!
In fact, according to CBD.io, it even had Netflix come out to get content for their upcoming documentary.
This year they’ve expanded the show to the prime location in South Hall 1 at the Las Vegas Convention Center. With an expected 400 brands, labs, and many other features, this next event could be another blockbuster according to CBD.io.
What Could This Mean For Leafbuyer (LBUY)?
For those just pulling up this company for the first time, Leafbuyer Technologies (LBUY) is no stranger to setting and breaking its own records. Just recently the company announced its quarterly sales increased 70% in the quarter ending March 31, 2019. Not only this but Leafbuyer’s 70% year-over-year growth rate is more than double the industry’s national average of 26.7%, according to Arcview Market Research and BDS Analytics.
That’s just the beginning, though. This record-setting quarter comes right on the heels of Leafbuyer’s (LBUY) record-setting quarter, previous! The company reported that its quarterly sales rose 68% in the quarter ending December 31, 2018. The increase reflects the revenue booked in the quarter versus the same quarter of the previous year. The company also booked a 67% quarterly sales increase in the quarter ending September 30, 2018.
So just to summarize the above, compared to its previous quarters in the years prior, Leafbuyer recorded new revenue milestones. This having been said, Here’s Where This Latest Deal Could Really Come Into Play:
Leafbuyer + CBD.io Combination to Double Company’s Current Revenue Run Rate
In the company’s own words – even after reporting consecutive revenue milestones quarter after quarter – Leafbuyer’s latest deal could end up “Doubling its current Revenue.”
Kurt Rossner, CEO of Leafbuyer said directly, “Last year, CBD.io sold nearly 200 booths, this year we will cross-sell our platform of over 400 clients and look to double that.”
Leafbuyer Technologies Inc. (OTC: LBUY) has not only been called a “game-changer” by NBC but has also been referred to as the “The Priceline of Pot” by TheStreet.com. Priceline provides the best deals on travel. Similarly, Leafbuyer Technologies Inc. (OTC: LBUY) is the most comprehensive online source for cannabis deals and specials. The website, Leafbuyer.com, is helping to connect millions of consumers daily.
The company has also been building key relationships for the better part of the last 5 months:
Rapid Market Expansion
The cannabis industry is exploding, in case you haven’t noticed. Forbes predicts North American marijuana sales could surpass an astonishing $20 Billion by 2021. That is a yearly combined growth rate of 25%. Is 25% a lot? Put it this way, the growth rate of the dot-com era was 22%.
Leafbuyer Technologies Inc. (OTC: LBUY) is pushing and focusing on growth with entries into new markets to offer local deals to more and more American cannabis users. It’s a simple numbers game folks, whoever has the most users will dominate the space. And like we stated earlier, Leafbuyer is currently the largest cannabis deal website in the United States with over 10 million monthly users and counting. Now it’s about time you got out your pen and added Leafbuyer Technologies Inc. (OTC: LBUY) to the top of your shopping list.