Perceiving the exponential growth seen inside the Cannabis industry, Datta Holdings has banded together with administrators inside the business to bring through a financial technology solution for the Cannabis business operators.
Varun Datta, the Chairman for Datta Holdings, also stated, “Conventional banking solutions have ostracized operators within the Cannabis industry. This makes it very hard for operators to obtain banking services which further causes capital crunches amidst liquidity management concerns.”
Putting through its response in the same regards, Datta Holdings has put an undisclosed amount for developing a platform for the blockchain-based financial technology solution equipped to help settlements inside numerous operators of the cannabis industry. The prototype for the same has already been created and developed and presently going through the beta testing stage. Also, it is all set to witness a big launch in the year 2021.
As per recent reports, the Cannabis market across the globe is all set to scale a revenue growth of $73.6 billion by the year 2027. Along with this growth, the market experts are expecting increased legalization of cannabis for its usage in medicines and leisure purpose.
It was majorly due to the same reason that the pharmaceuticals industry held a major chunk of the revenue growth in the cannabis industry. As a medicinal product, cannabis has shown their significance in the treatment of certain severe medical issues like arthritis, cancer,alzhemier’s disease , Parkinson disease and various other critical neurological conditions.
If we look through the same market share as per the regions, North America is leading the charts with the most significant revenue share of 88.9% last year. Well, this was something that came in the wake of increased legalisation of cannabis for medicinal purposes.
Additionally, the flexible policies and regulations by the local and federal governments also proved to be significant factor in the same respect.
BACKGROUND
Datta Holdings comes over as a multifaceted holding company while having its major assets and holdings in various domains like Technology, Healthcare, Entertainment, Media, Logistics, Consumer Staples, Real Estate and Financial Services. Datta Holdings presently have AuM worth $2 billion while having its headquarters based in Miami, Florida.
Datta holdings were founded in the year 2008 with the core objective of helping and supporting potential firms with private equity advisory and corporate finance. The company stands as a limited partner/founder in 3 of the independently managed funds with their locations in major cities like Miami, New Delhi and London.