Delaware taps NCS Analytics to help monitor marijuana tracking system

Delaware has contracted data and technology firm NCS Analytics to provide data services for the state’s seed-to-sale tracking system.

The financial terms of the agreement were not provided.

NCS’ technology platform will support Delaware’s Office of Medical Marijuana’s mission of monitoring and enforcing the state’s medical marijuana laws and regulations, according to a news release.

“The leading cause of cannabis business failures is over production of product, saturating the market, and depressing prices,” Office of Medical Marijuana Director Paul Hyland said in a statement.

“The efficiency tools contained in NCS Analytics will guide state policy decisions to ensure safe and reliable products for all medical patients in the State of Delaware.”

According to NCS, its software captures, aggregates and analyzes millions of data points from seed-to-sale, allowing regulators to process large amounts of data into actionable alerts that flag suspicious activities.

The platform works in conjunction with the BioTrack seed-to-sale tracking system that Delaware requires licensed marijuana operators to use.

Denver-based NCS Analytics said it offers comprehensive data services for marijuana regulators across the country, including Michigan, Oklahoma, Vermont, West Virginia and the California Cannabis Authority.

The company said it monitors more than 20,000 cannabis licenses nationwide.

Delaware legalized recreational marijuana in April after having launched medical cannabis sales in 2015.

The first adult-use licenses in Delaware are expected to be awarded in summer 2024.

Source: https://mjbizdaily.com/delaware-taps-ncs-analytics-to-help-monitor-marijuana-tracking-system/