Being an early player in the booming cannabis industry is both a promising and challenging undertaking. It’s great because there are tons of opportunities that you get first dibs on but because there re no infrastructures built yet, you might need to take the long road in certain areas.
Fortunately, Wayv instantly saw the need to create a marketplace for growers, brands, distributors, and retailers so they can more easily and conveniently find each other and create relationships. Their automated, on-demand supply chain logistics platform available to the cannabis industry of California is meant to simplify the business-to-business processes in the trade.
How it works is Wayv connects retailers and brands to make the supply acquisition process faster and more fuss-free. Their platform is created as a one-stop-shop where suppliers can make their wares available and retailers can order for their inventories.
They basically facilitate the transactions so participants in the industry don’t have to use other means to acquire, market, and sell their products anymore. CNBC dubbed it as the Amazon for the legal cannabis industry.
Aside from making products and supplies easily accessible, Wayv is also making cashless transactions possible. As banks still find the cannabis trade a bit risky, the industry still mainly operates in cash. This is a problem as it’s very limiting and risky. With Wayv’s platform and its new B2B payment system, participants in the trade can now pay each other without the need for cash.
It’s also important to note that Wayv is fully compliant with state laws. This guarantees that there shouldn’t be any legal roadblocks for the businesses that will use their platform. They also conduct regulatory and compliance checks, so end users don’t have anything to worry about.
Wayv was created by Keith MacCarthy, a co-founder of the on-demand cannabis delivery startup Eaze, with partner David Sacks of PayPal. With their experience, unique concept, and use of powerful technology, Wayv can really help the cannabis trade keep up with modern times.