Zodaka


October, 2018 by Cannabiz Wholesaler

The Zodaka Payment Platform may be the safest, most reliable high-risk payment system on the market. Via their cutting-edge platform, Oakland, CA-based Zodaka is able to provide 100% domestic payment processing without reserves, chargebacks, high fees or risk of shutdown. Merchants can sign-up in one to two days, customers in one to two minutes. The company’s goal is to become the premier high-risk payment platform in the world.

CANNABIZ WHOLESALER TALKED TO JORDAN FRIEDMAN, ZODAKA’S CEO, ABOUT HIS COMPANY, THE INDUSTRY AT LARGE AND THE “GREEN RUSH” BUG.

CANNABIZ: WHAT TRENDS DO YOU SEE CURRENTLY SHAPING THE INDUSTRY?

JF: While the cannabis industry is being shaped by many different factors, I see three that are currently the most impactful: innovative entrepreneurs, a shifting national culture, and the autonomy of the states themselves.

Innovative entrepreneurs in the cannabis industry are working overtime to reinvent retail while simultaneously writing the blueprint for a new vertical with unlimited potential but infinite roadblocks. Varying state and county licensing laws, federal tax burdens, and the lack of normal financial services such as banking and payment have pushed the trailblazers to become even more creative in order to contend with this industry’s unique challenges.

Moving now to culture, in the last half-century cannabis has transformed from a beacon of the counterculture movement to a revolutionary medical advancement. Now we are seeing cannabis flood the mainstream, creating a new influx of consumers who demand a different variety of products than the previous market. This is a huge opportunity for merchants who are prepared to contend with the shifting market.

The policy decisions of each state play an integral role in shaping the future of federal cannabis legislation and the direction of the industry as a whole. As each successive state determines their cannabis regulatory policies, they have the benefit of seeing what has been effective in Washington or Oregon, for example. These varying policies from district to district have helped the marijuana movement to maintain its grassroots identity.

CANNABIZ: WHAT DIRECTION DO YOU SEE IT GOING?

JF: Up! We are truly witnessing the birth of “big cannabis” as new markets emerge and fresh, well-funded upstarts begin to take over increasing commercialization. The advantage of this commercialization is that it lends marijuana a broader degree of public acceptance, which will allow for expanded scientific research into the uses and effects of cannabis.

CANNABIZ: IS WASHINGTON HELPING OR HURTING?

JF: Pro-cannabis federal legislators are doing their best, but the progress they’ve made has been slow and difficult. There are bright points, as Senator McConnell’s recent Farm Bill and the FDA’s June 25th approval of CBD for the treatment of epilepsy both show a willingness to compromise on the part of the Washington establishment. In addition, President Trump has publicly stated that he is open to deferring to the states, and even federally decriminalizing marijuana. Unfortunately, Attorney General Sessions remains firmly opposed to cannabis, even going so far as to rescind the Cole Memo which allowed the state agencies to regulate marijuana as they deemed fit without the intervention of the federal government. However, despite the bluster, Sessions has taken no steps to actually prosecute anyone in the legal cannabis space. The D.O.J. has instead prioritized a crackdown on illegal grow operations that violate interstate commerce clauses, which has, paradoxically, improved the state-wide cannabis ecosystem by eliminating non-compliant competition.

CANNABIZ: WHAT ABOUT THE FUTURE?

JF: As federal cannabis legalization inches closer, we are going to see a massive uptick in the quantity of products, consumers, and markets available to marijuana professionals. It is clear that many have caught the “green rush” bug, and we are now seeing an infusion of highly-qualified professionals who 20 years ago wouldn’t have even considered cannabis.

Oil and refinement companies hire whole teams of PhD’s to improve their products, while more high-end business people are entering the space daily. Our team at Zodaka is a great example of this: we have been able to recruit top engineering talent from some of the world’s best tech companies because they want to be a part of this opportunity.

CANNABIZ: WHAT IS YOUR PLAN GOING FORWARD?

JF: Zodaka’s strategy is to create a wide range of win-win partnerships that make up our larger network. We aim to generate huge value for our partners monetarily, and for their clients by helping them overcome some of the biggest challenges facing cannabis companies. Every company we partner with increases our utility to our clients, while each merchant we on-board increases our selection for end-consumers.

Zodaka is innovating across the board. Because of how our system operates, we do not fall under the same compliance restrictions as other cannabis payment companies, meaning we can afford to divert all our efforts to releasing new features, updates, and products more frequently than anyone else in the cannabis payment space. We have helped merchants create new websites, get bank accounts, get funding, and everything in between. That market knowledge has given us a big edge. And of course, everything we do is geared to make the life of the consumer easier, safer, and more convenient.

Zodaka.com

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