NetworkNewsWire reported the publication of an editorial showcasing Singlepoint Inc (OTCMKTS:SING), a customer of NNW focused on solidifying its position in the marijuana market through investment in, or the acquisition of, or small- to mid-sized cannabis firms.
SinglePoint focus remains on financial technology solutions via collaborations with other firms. The company is also working to increase the profile of blockchain know-how through an association with entrepreneur and SharkTank veteran Mr. Kevin Harrington, the brain behind 20 firms with combined revenues of more than $100 million and whose public profile will assist bring company’s services to a broader market.
Several of SinglePoint’s financial offerings are geared toward the cannabis industry, a growing segment that has been under-boosted by the conventional finance market. Cannabis sales are now approved in 29 U.S. states; however, vendors find it hard to access conventional banking systems. SingleSeed Payments service offers cannabis suppliers with secure payment systems, enabling these suppliers to approve payment ways other than cash. The firm is also utilizing blockchain to back additional components of the supply chain, counting inventory tracking and deliveries, and informing consumers about offerings and ensuring that operations fulfill stringent regulatory requirements.
SinglePoint has a joint-venture deal with Smart Cannabis Corp. to market and license the SMART APP, which is an industry specific app that allows growers to control entire businesses from a mobile device. Among other measures, the firms are collaborating to integrate company’s bitcoin payment solution into the application and finalize a track and trace solution using blockchain.
SinglePoint has cultivated from a full-service mobile knowhow provider to a publicly traded holding firm. Through diversification into horizontal segments, the company is advancing its portfolio by buying a stake in undervalued subsidiaries, hence offering a rich, differentiated holding base. Through its subsidiary firm SingleSeed, the firm is offering services and products to the cannabis market.