The crypto cannabis crossover
If I had to state what I consider to be the two newest and exciting industries today, I would say Medicinal Marijuana and Cryptocurrencies/Blockchain. I would have mentioned emerging A.I. tech, but that terrifies me as much as it baffles me, so I will stick to the former for now.
Being fortunate enough to live on the Island of Malta I have been well placed to see how the worlds of Cryptocurrency and Medicinal Marijuana world have developed and crossed over to compliment each other.
Blockchain Island was declared by Malta’s Prime Minister in 2018, announcing the investment, tax incentives, and favorable legislation for the emerging blockchain and cryptocurrency companies. A more recent quote from the new parliamentary secretary, Bartolo Clayton responsible for financial services, digital economy and innovation, positively states:
“The Government of Malta is committed to consolidating blockchain together with other niche sectors. It is the Maltese government’s belief that we believe that more synergies between these emerging sectors should be explored and encouraged in order to reap and exploit their benefits.”
Other niche sectors he speaks of is the Medicinal Marijuana Industry. Malta pushed through legislation in 2018 for the cultivation and export of GMP standard Medicinal Cannabis, also allowing patients access from 2019.
With Malta hosting two large expos annually since 2018 we have seen the synergy and chemistry bubbling into opportunity, creating a perfect hybrid between these, generally marginalized, industries. Seeing the leaders of these industries come together promises very exciting, innovative possibilities.
One of the World’s Oldest Gifts Meets One of the Newest
Although in the scope of time the Medicinal Marijuana industry is new, the produce itself dates back to antiquity. The same with currency, people have used tokens for trade since around 600 BC, what is different however is innovation, accessibility and the internet.
Coincidentally, both industries were in their infancy around a decade ago, whereas now they are growing up and ready to take on the traditionally monopolized institutions. With blockchain and cryptocurrencies, we are seeing a shift in attitudes, and power, in relation to how financial institutions and services are made. The same with Medicinal Cannabis, more power is now given to the patient and consumer than ever before, allowing for a decrease in the dependence for pharmaceutically produced drugs, again challenging the established dominance.
That is one formidable team.
It doesn’t stop there. Crypto Cannabis Coins have been listed and are available to trade:
Not forgetting all the other industries including the very interesting Crowdgrowing and CannaInvesting.
Cannabis Crypto Hybrid
Cannabis and crypto, especially the blockchain technology behind cryptocurrencies, allow for super-efficient, profitable new solutions and options.
Personally I am very interested in seeing the solutions that blockchain tech is providing to the medicinal marijuana industry throughout the supply chain.
I think the most obvious and probably the most effective in terms of real-world strategy is one of accessibility and payments. When it comes to fiat money we are restricted and monitored at every point in terms of service, fees and standards, not so with blockchain and crypto – it’s a level playing field. The blockchain fees are the same for all and most exchanges and wallets are easy to open and with much lower fees.
When it comes to business, many institutional brick and mortar banks, especially federally or government-linked banks, are notoriously difficult for cannabis companies to do financial transactions due to shareholders and conflicts of interest within their own countries or laws, etc. Even in Malta, it is known that at the beginning, and now to an extent, the national bank is reluctant to risk accounts with cannabis companies. Exchanges and crypto based banking services are more than accommodating in this regard.
An Exciting Future Ahead
As we know, in both fields there are many many benefits and advantages and we are just on the cusp of this promising relationship that will last and grow for years. I am looking forward to the advancements in DNA and gene product matching that looks to really personalize medicinal marijuana usage and dosage to maximum efficiency.
The investment and technology going into the blockchain and supply chain for the industry will increase productivity and reduce waste, leading to growth and better products to market.
If you want to get involved right now, the best way I would suggest is via crowdgrowing, also known as remote or e-growing.
Crowdgrowing allows you to invest and profit from the medicinal cannabis industry right now. It is 100% legal in ALL countries and utilises cryptocurrencies for added security and ease. It is very simple and you don’t need the budget of pharmaceutical companies marketing department to take part in either!
Get more information from the guys themselves and from the growing community at juicyfields.io and take part in two out of the three most exciting and fastest-growing industries for the coming years.