Akanda Corp. announced aspirations to enter technology segments of the cannabis industry. The Company is evaluating potential opportunities to enter Bitcoin, Blockchain, and AI applications in the cannabis industry.

The Company believed cryptocurrencies may provide a viable solution to some of the cannabis industry?s banking problems. Cryptocurrency enables users to store value, and engage in direct, peer-to-peer transactions with counterparties. Decentralized blockchain technology instead of the traditional financial system support these transactions. With the struggle cannabis operators have to bank traditionally, cryptocurrencies thus present an opportunity for businesses to bank themselves.

The cannabis industry has faced further challenges with quality control and its supply chain. Blockchain technology can also help address these needs. One essential component is Certificate of Analysis (COA), which verifies the product?s quality, safety, and potency.

However, COAs can be vulnerable to fraud, tampering, or errors, which can compromise the integrity of the entire supply chain. Blockchain technology provides a secure, transparent, and decentralized way to track COAs throughout the supply chain, from cultivation to distribution and sale. Blockchain can trace the product?s origin, monitor its handling and storage conditions, and track its distribution and sale, to enhance transparency and accountability.

The Company also believed Artificial Intelligence (AI) is a promising avenue to explore. It is researching and possibly pursuing investments and partnerships in this space. AI may identify which strains of cannabis are selling best for an organization and customize the growing conditions to consistently produce the same strain.

It is also possible that down the road, medicinally, AI could take data from researchers to customize plants to treat specific ailments. When it comes to specifically cannabis, though, AI is increasingly being used to search databases of cannabis research to identify certain strains that may fit a target audience better than others. With a stronger financial position from the closing of an underwritten public offering financing, the Company also plans to strengthen its presence in the global cannabis market through its wholly-owned United Kingdom (UK) subsidiary, Canmart. Canmart is a licensed importer and distributor of Cannabis-Based Products for Medicinal use (CBPMs) in the UK and provides third party and specialist import and distribution services for Schedule 2 products including CBPM?s. Canmart continues to work further with premium product suppliers to bring safe, effective and required products to market that patients demand, and working with existing and new clinical cannabis operations in the UK to provide third party products.

Beyond its operations in the UK, Akanda is also developing the Gabriola Green Project in British Columbia, Canada. This farming property is set to host facilities for the production of tetrahydrocannabinol (THC) and cannabinoid (CBD) products, reflecting the Company?s commitment to expanding its footprint and advancing its projects across both Europe and North America.