The Legal Marijuana Industry Needs Bitcoin Badly
Legal marijuana has been having banner year after banner year since various states have legalized the sale and consumption of the plant and its derivatives starting back in 2012 within Colorado and Washington. It should be noted that the process of marijuana’s status as a demonized drug has been slipping for much longer than the past 4 years. The first medical marijuana dispensary in the United States was in California back in 1996. As a business model, it’s hard to beat being a legal seller of pot, whether in a medical capacity or fully legalized manner. It’s common to see business owners....
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Bitcoin and marijuana, at least in terms of US legal issues, have more in common than you might think. Consider the situation that has developed in the state of Colorado: on 1st January it became the first US state to allow the sale of recreational marijuana. Customers who can identify themselves as aged 21 or older can now walk into a dispensary and buy the drug in regulated quantities. The Colorado vote on legalization was pretty divisive. Source: Wikipedia. An increasingly informed and engaged populace is influencing trends like this one. The web, alongside mobile devices and social....
It’s a well-established trope in the mainstream financial press and even in much of the modern consciousness that Bitcoin is merely the Cayman Islands of currencies. Criminals use it to hide their money (same as they do cash, but with more efficiency) from the government. While Bitcoin is nearly impossible to actually eradicate itself, the fear of government intervention to prevent merchants from using the currency has long pervaded conversations about Bitcoin. The marijuana industry in states where the plant has become legal also faces large swaths of legal gray areas in regards to their....
It is no secret that the medical marijuana industry in the United States faces an uphill struggle, indeed our readers will remember that we covered the issue in detail recently and discussed how dependence on cash is putting both medical marijuana businesses as well as consumers at a great deal of risk. It is interesting to note that there have been developments in this field and there is now a payments solution at hand for regulated medical marijuana businesses as well as customers. CanPay has recently announced a solution for the legal marijuana industry that has become available to....
Washington State and Colorado State have become the first states in America to legalize marijuana at the state level. The beginning of green celebrations in the aforementioned states at the beginning of this month led to a satirical piece claiming 37 dead due to marijuana legalization. Many people have applied for commercial licenses from their states to legally grow and distribute marijuana. Concurrently, many followers of legal marijuana news have noted that the majority of legal marijuana dispensaries, medical in most places, recreational in Washington and Colorado, must pay their state....
WeedMaps. Weedmaps founder CEO Justin Hartfield does not think Bitcoin will help to grow the legal marijuana industry, a claim contrary to what many in the Bitcoin space claim. Weedmaps, the online legal marijuana community, allows users to review and discuss cannabis strains and local dispensaries. The website garners two million monthly visitors with annual revenue of approximately $18 million. Widely considered the industry leading website, Weedmaps founder CEO Justin Hartfield has a unique point of view on the industry. Hartfield recently told CCN that he does not believe Bitcoin will....