DirectView explores legal marijuana vertical
Though 18 states had previously legalized marijuana for medical use, it was the pair of initiatives passed in Colorado and Washington that legalized the substance recreationally that seems to have made the security industry more attentive to what kind of possibilities lie ahead in this new and rapidly expanding market.
It’s not difficult to see why. Those operating dispensaries and growing facilities will require security solutions for many of the same reasons an end user at a jewelry store would: They have to protect hundreds if not thousands of lightweight and expensive consumer products. End users will likely pull out all the stops on an integrated solution, relying on motion detectors, sensors, access control, dozens of cameras with status monitoring and, perhaps for larger storage facilities, virtual guard tours. Because the industry is in its nascent stages and still very much evolving, it’s difficult to forecast what the industry will look in even five to ten years from now.
New York-based DirectView Security, a provider of onsite and remote video and audio surveillance solutions and a subsidiary of DirectView Holdings, recently announced in a news release that it’s entered into “early stage discussions with several marijuana industry companies to provide a number of potential video surveillance and access control solutions.”
Though in many states marijuana laws are becoming more lax, the substance remains illegal under federal law. This adds an interesting wrinkle to the current security landscape in connection with this market. Federal pressure on banks has made it extremely difficult for pot dispensaries to get loans. As a result, they’ve had to rely primarily on cash, making them an even bigger target for robbers than they already were.
It’s been well documented that ADT last year made a policy decision not to sell security systems to businesses engaged in the marijuana industry because it’s still illegal under federal law. It’s conceivable that other companies both large and small will also take that approach. But it will be interesting to see what companies take the reins in the market and to see to what kind of impact it will have on business.
In the news release, Roger Ralston, CEO and chairman of DirectView, expressed a good deal of optimism about doing just that: “Having worked to provide security products and solutions for large hotels and several banks, we have a strong understanding of complex security needs and how to provide the most cost-effective solutions,” he said, adding that he views the new market as “strong growth driver for our business in the coming years.”