Why did u decide to start with legal cannabis market? Do u think it's promising or are there other reasons?
The size of the hemp industry today is approximately USD 650 million. According to the Hemp Business Journal, by 2020 it will be USD 1.8 billion. Some estimate that the global market for hemp consists of more than 25,000 products in nine submarkets: agriculture; textiles; recycling; automotive; furniture; food, nutrition, and beverages; paper; construction materials; and personal care. Pavo can also be used by participants in the industrial hemp arena, and we intend to serve that market as well.
Global total agriculture market size U.S. $5 trillion
Pavo continues to develop smart agriculture deployments with almond farms in California; 80% of the worlds almond production comes from California.
The multi-billion dollar cannabis market is the indoor smart agriculture proving ground for Pavo, where the need of IoT and blockchain-enabled transparency, and a cryptocurrency payment solution is most profound.
Pavo is readily extensible to the entire universe of indoor-grown crops, from cannabis to cucumbers, from strawberries to spinach, from kale to carrots.