Washington: BioTrackTHC Named State's Legal Marijuana Tracing System
By Steve Elliott
The Washington State Liquor Control Board (WSLCB) has selected the firm BioTrackTHC, a division of Bio-Tech Medical Software, Inc., to provide a legal marijuana traceability system to the agency.
Accurately tracking cannabis throughout the entire supply chain (you'd think the stuff was radioactive by how much officials stress over it) is a major component of I-502, Washington's limited legalization initiative approved by voters last year.
BioTrackTHC's tracing system will assist the WSLCB with tracking and monitoring all marijuana cultivation, processing, testing, and retail transaction data by cannabis licensees through the supply chain to help prevent diversion, "promote public safety" (what are they gonna do, make sure a bale of it doesn't fall on someone?) and collect tax revenue (ah, so THAT's why they're so worried about it).
The WSLCB directly notified 785 vendors about the contract opportunity for tracing marijuana; out of 22 proposals submitted, BioTrackTHC was the highest scoring bidder, 1041.65 out of a possible 1200.
"We are absolutely thrilled," said Steven Siegel, CEO of BioTrackTHC. "We are very grateful to all of our existing clients, partners, and other industry friends who have given us invaluable feedback and insights into making BioTrackTHC the most robust and accurate seed-to-sale system on the market.
"We believe that our win is a win for the industry as a whole," Siegel said. "Legal marijuana supporters and detractors alike support technology that brings transparency, accountability, and security to the industry."
BioTrackTHC says its commercial seed-to-sale inventory tracking software has "proven popular" with the legal marijuana industry. It is used in almost 200 medical marijuana producer, processor, and retailer operations across the U.S. and Canada, according to the company.
Gathering real-time location, growth-phase, production-phase, transportation, disposition, and point-of-sale data, BioTrackTHC, unsurprisingly, claims it has the most accurate seed-to-sale system on the market today.
According to the company, for those already using BioTrackTHC's commercial application to run their marijuana operations, all of the WSLCB's periodic inventory reporting requirements will be automatically submitted, eliminating the need for time-consuming and error-prone manual or double data entry.
Of course, since unlike Colorado, Washington state plans to shut down the medical marijuana dispensary system rather than building upon it, that may be a moot point.
"Our selection as Washington state's seed-to-sale traceability system provider further defines BioTrackTHC as the nation's leading provider of legal marijuana inventory tracking solutions," Siegel said. "Our software simplifies and facilitates compliance for producers, processors, and retailers, while providing those businesses all of the tools they need to run a successful, profitable enterprise.
"The Washington contract represents a huge opportunity for BioTrackTHC to accelerate its already rapid growth -- both in is market share and its revenues," Siegel said.