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The cannabis industry has been booming recently due in part to legalization legislation that has helped to alleviate barriers to market entry. Recent trends tell us that the cannabis marketplace is projected to grow at a staggering rate from $10.3 billion in 2018 to $39.4 billion by 2023. With more and more states opening up their borders for marijuana, many businesses are looking to technology to manage this increase in customers.
As of November 2018, 10 states have legalized recreational cannabis while 33 have approved it for medical uses. As more states are opening their borders to legal cannabis, business owners are beginning to become more digital in their endeavors thanks to this newfound legalization. But digitization isn’t all good if you don’t have a cybersecurity plan to protect your data.
Brands that are able to infuse innovative technology into their network infrastructure can use it to analyze and predict valuable consumer trends that will enable them to make critical decisions in the future. Having a cybersecurity plan in place to supplement this type of innovative undertaking is what will help your cannabis business thrive. Let’s look into the specific areas of interest that you should be focusing on when cultivating your cybersecurity plan and which proactive measures you need to take to avoid being a victim of a cyber-attack.