Join Our Mailing List
Thursday February 02, 2023
Bitcoin (BTC) $23,801.38   Ethereum (ETH) $1,650.64
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Services

Cannabis and Crypto Are the Perfect Match…Here’s Why

Published by CryptoNinjas.net
07/30/2018
Cannabis and Crypto Are the Perfect Match…Here’s Why

Over the past decade, blockchain technologies and the cannabis industry have had tremendous economic and cultural impacts. Since 2017, the most impressive traditional and non-traditional assets on the market have been related to crypto and cannabis. The two are a perfect match, and not only because of their economic success.

Burgeoning Industries

According to research conducted by New Frontier Data, cannabis was a $7.97 billion industry by 2017. Even more impressive is the expected growth of the sector; spending on legal cannabis is projected to reach $57 billion by 2027, and 67% of this growth will come from recreational adult-use. These expectations are grandiose, yet warranted, especially with Canada announcing the national legalization of recreational marijuana. In addition to regulatory changes, critical drivers behind this growth originate from investments. Cannabis-focused holding companies like Orthogonal are deploying strategic capital into promising seed stage ventures, enabling them to reach new heights.

In 2017, the economic potential of cryptocurrencies was revealed. Studies conducted by the team at IB show just how monumental 2017 was. The year brought record-breaking numbers, including the total number of cryptocurrencies and digital assets increasing from 617 to 1,335–a  216% increase. Furthermore, the total market capitalization increased by roughly 3.363% which translates to over $500 billion, and due to the invention and dissemination of Ethereum– a blockchain platform that provides an infrastructure to expedite the development of other blockchain technologies, these numbers are only the beginning for the burgeoning industry. In 2017 alone, there were over 382 ICO’s, many of which depended on Ethereum’s platform.

How Blockchain benefits Cannabis

The blockchain is a driving force behind cryptocurrencies. One of the blockchains core features is that it enables the transaction and tracking of assets in a trusted, efficient, and decentralized manner. The legalization of cannabis comes with an array of standards and procedures. From an operational standpoint, it’s the job of cannabis companies to build solutions which enable holistic compliance and operational efficiency; these solutions can be created on the blockchain.

A perfect example of this is the ground-to-consumer process. This process includes growing, cultivation, distribution, and retail. The blockchain provides comprehensive tracking solutions that ensure transparency and accountability by openly and securely tracking transactions. Another example is crop development. Cannabis has strict quality control regulations, which monitor every aspect of the growing process like planting, harvesting, and time horizons, however,  blockchain technologies can track and monitor these processes at every step with ease.

Although cryptocurrencies are byproducts of blockchain technologies, they are just as important. ICO’s have served as a new fundraising mechanism, enabling companies to obtain the capital needed to launch their ventures. The cannabis industry is still relatively new, and as a result, many investors in the space can be a bit reserved. ICO’s have enabled cannabis companies to access capital that would otherwise be inaccessible.

Crypto and cannabis are an amazing match. In addition to being growing industries, there are numerous ways the blockchain can push the cannabis industry forward. It’s also important to understand that both industries are relatively new. As participation expands within these industries, so will the regulations surrounding them, and retail and institutional investors willing to financially support these industries.

16
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange. Headquartered...

Read more

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions. The Gemini eOTC solution offers a variety of advantages...

Read more

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

GenTwo Digital, the crypto-asset securitization platform based out of Crypto Valley in Zug, Switzerland, today announced a partnership with Coinbase, the publicly-listed cryptocurrency platform. This new partnership for GenTwo Digital allows all Coinbase crypto...

Read more

Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

01/05/2023
Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

ThunderCore, a leading blockchain & web3 ecosystem announced today that they are making a new development push, partnering with new validators as the chain rolls out its new crypto staking model. The newest ThunderCore...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet launches anticipated browser extension of its crypto management app

11/14/2022
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
Web3 Racing Game Powered by Solana to Introduce In-Game Currency

Web3 Racing Game Powered by Solana to Introduce In-Game Currency

01/26/2023
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

01/05/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy