October, 2018 by Cannabiz Wholesaler
The Zodaka Payment Platform may be the safest, most reliable high-risk payment system
on the market. Via their cutting-edge platform, Oakland, CA-based Zodaka is able to provide
100% domestic payment processing without reserves, chargebacks, high fees or risk of
shutdown. Merchants can sign-up in one to two days, customers in one to two minutes. The
company’s goal is to become the premier high-risk payment platform in the world.
CANNABIZ WHOLESALER TALKED TO JORDAN FRIEDMAN,
ZODAKA’S CEO, ABOUT HIS COMPANY, THE
INDUSTRY AT LARGE AND THE “GREEN RUSH” BUG.
CANNABIZ: WHAT TRENDS DO YOU SEE CURRENTLY
SHAPING THE INDUSTRY?
JF: While the cannabis industry is being shaped by many different
factors, I see three that are currently the most impactful:
innovative entrepreneurs, a shifting national culture, and the
autonomy of the states themselves.
Innovative entrepreneurs in the cannabis industry are working
overtime to reinvent retail while simultaneously writing the
blueprint for a new vertical with unlimited potential but infinite
roadblocks. Varying state and county licensing laws, federal tax
burdens, and the lack of normal financial services such as banking
and payment have pushed the trailblazers to become even
more creative in order to contend with this industry’s unique
challenges.
Moving now to culture, in the last half-century cannabis has
transformed from a beacon of the counterculture movement to
a revolutionary medical advancement. Now we are seeing cannabis
flood the mainstream, creating a new influx of consumers
who demand a different variety of products than the previous
market. This is a huge opportunity for merchants who are prepared
to contend with the shifting market.
The policy decisions of each state play an integral role in shaping
the future of federal cannabis legislation and the direction of the
industry as a whole. As each successive state determines their
cannabis regulatory policies, they have the benefit of seeing
what has been effective in Washington or Oregon, for example.
These varying policies from district to district have helped the
marijuana movement to maintain its grassroots identity.
CANNABIZ: WHAT DIRECTION DO YOU SEE IT GOING?
JF: Up! We are truly witnessing the birth of “big cannabis” as
new markets emerge and fresh, well-funded upstarts begin to
take over increasing commercialization. The advantage of this
commercialization is that it lends marijuana a broader degree
of public acceptance, which will allow for expanded scientific
research into the uses and effects of cannabis.
CANNABIZ: IS WASHINGTON HELPING OR HURTING?
JF: Pro-cannabis federal legislators are doing their best, but
the progress they’ve made has been slow and difficult. There
are bright points, as Senator McConnell’s recent Farm Bill and
the FDA’s June 25th approval of CBD for the treatment of epilepsy
both show a willingness to compromise on the part of
the Washington establishment. In addition, President Trump
has publicly stated that he is open to deferring to the states,
and even federally decriminalizing marijuana. Unfortunately,
Attorney General Sessions remains firmly opposed to cannabis,
even going so far as to rescind the Cole Memo which allowed
the state agencies to regulate marijuana as they deemed
fit without the intervention of the federal government. However,
despite the bluster, Sessions has taken no steps to actually
prosecute anyone in the legal cannabis space. The D.O.J. has
instead prioritized a crackdown on illegal grow operations that
violate interstate commerce clauses, which has, paradoxically,
improved the state-wide cannabis ecosystem by eliminating
non-compliant competition.
CANNABIZ: WHAT ABOUT THE FUTURE?
JF: As federal cannabis legalization inches closer, we are going
to see a massive uptick in the quantity of products, consumers,
and markets available to marijuana professionals. It is clear that
many have caught the “green rush” bug, and we are now seeing
an infusion of highly-qualified professionals who 20 years ago
wouldn’t have even considered cannabis.
Oil and refinement companies hire whole teams of PhD’s to improve
their products, while more high-end business people are
entering the space daily. Our team at Zodaka is a great example
of this: we have been able to recruit top engineering talent from
some of the world’s best tech companies because they want to be
a part of this opportunity.
CANNABIZ: WHAT IS YOUR PLAN GOING FORWARD?
JF: Zodaka’s strategy is to create a wide range of win-win partnerships
that make up our larger network. We aim to generate
huge value for our partners monetarily, and for their clients by
helping them overcome some of the biggest challenges facing
cannabis companies. Every company we partner with increases
our utility to our clients, while each merchant we on-board increases
our selection for end-consumers.
Zodaka is innovating across the board. Because of how our system
operates, we do not fall under the same compliance restrictions
as other cannabis payment companies, meaning we can
afford to divert all our efforts to releasing new features, updates,
and products more frequently than anyone else in the cannabis
payment space. We have helped merchants create new websites,
get bank accounts, get funding, and everything in between. That
market knowledge has given us a big edge. And of course, everything
we do is geared to make the life of the consumer easier,
safer, and more convenient.
Zodaka.com