Steve (Mac) McKeon, CEO of MacguyverTech, was recently on the CG Business Advisor Podcast as a guest speaker. Hosted by Scott Seidenberg, this episode centered on the emerging cannabis industry and how it related to blockchain.
Scott’s questions ranged from conversational to more in-depth as the interview progressed.
Scott: So, I have to ask, are you a big MacGyver fan?
Mac: Well, it’s a name that’s followed me around my whole life, so I sort of just go with it. As a child, I started taking things apart and putting them back together, making them better. Now I’ve got a company called MacguyverTech that does the same thing, and I absolutely love it.
Scott: So, let’s talk about the cannabis industry. Is there a certain software that cannabis businesses should be using well right now?
Mac: There’s a little bit of a crazy Wild West feel in that area right now, because of how quickly the cannabis industry has grown. There are 18 states now that it’s recreationally legal, but the biggest issue I’ve seen in that is I see the sale software. There are a couple players in that space, but it’s a regulated industry. The biggest challenge is that it’s a whole new whole supply chain, and everything from seed to sale of the product has to be tracked and regulated. There’s a lot of scrutiny on it for that reason. Still. I see a super amount of growth there, and we’ve worked with a couple of cannabis and CBD companies and written some software for them.
Scott: Are there different components that are cannabis company needs and opposed to any other industry?
Mac: Well, let me make a distinction. With CBD, you can use traditional finance systems. With cannabis, most of them are cash only, but some of them are considering using cryptocurrencies. It’s still a bit of a gray area, and unfortunately the cannabis industry is still considered high risk due to the federal level of regulation. I believe that’s changing fast, but most of them have to deal with cash on hand right now, which can be problematic. Automating that would be a huge benefit for them; cryptocurrency and blockchain tech could be very helpful.
Scott: So how do the cannabis industry and cryptocurrency intersect?
Mac: Like I mentioned earlier, cash payments are a big burden to most companies. If you carry a huge supply of cash on hand, you have a whole new issue to worry about. If it’s digital, you can just you just access a system and transfer data. The problem is that they’re driven by the banking system, and the banking system still isn’t very friendly with the cannabis industry. Fortunately, there are blockchain and cryptocurrency projects out there. I was lucky enough to be introduced to Artery Pay, which is a dispensary and cannabis-friendly payment system that you can use cryptocurrencies on. It’s still new, and they’ve been gearing up for a while to be more generally available when regulations loosen up a little bit for crypto to be accepted.
Scott: So, tell me a little bit more about MacguyverTech; what kind of services do you provide?
Mac: We’re actually going through a renaissance right now. The company itself has been around for about 10 years, and we branded MacguyverTech about two years ago. We’re a software company that focuses on a secure user experience; we make software that helps our clients be more efficient by tying their systems together. Now we’re splitting MacguyverMedia off from MacguyverTech. MacguyverTech will focus solely on our larger applications; clients are like our distribution companies and those that require more database-centered custom software. MacguyverMedia will focus more on fun blockchain projects like NFTs, tokens, smart contract development and cryptocurrency projects. The reason we’re splitting the two is that in a few years the enterprise companies are going to progress to blockchain; they’re just not ready yet. We’ll be there and available when they are.
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