Banning products that people rely on the most will only direct them towards an illegal market. The ideal of Cannabis-as-Medicine is widely prevalent across the nation. Medical cannabis does not have similar addictive properties like some of the powerful painkillers.
Vaping is the process of vaporizing medical cannabis. When compared to other modes of consumption, better effects are felt with vaping. Users do not want to have their most effective treatment option taken away from them entirely. However, there are tragic effects of vaping-related illnesses and deaths too. Blanket bans have pitfalls.
Blockchain technology can be of great help tracking the medical marijuana industry and identifying the bad actors. Blockchain companies are being required to submit concepts that will help the state to leverage the blockchain technology, which is a system that tracks cryptocurrency transactions, including those of the state, offered medical cannabis program.
Financial institutions have been reluctant to service the business due to the fear of getting penalized by regulators.
HempCoin (THC) is a blockchain solution company that has its crypto. They provide for agricultural trade and make use of HempTRAC for data. HempPAY provides for payments, and HempDEX is used for global exchange. Most of the companies and private individuals in the legal sectors of Cannabis, Hemp, and Tobacco use these platforms. They provide for the banking and payment solutions requirements of the marijuana industry.
HempCoin (THC) is listed on CryptoBridge, P2PB2B, Trade Satoshi, and Graviex.
Yet another token known as the PotCoin(POT) is used to serve as a payment method and store of value for the legal cannabis businesses across the world. Users will be able to exchange PotCoin for legal Cannabis services and products. POT is purchasable and exchangeable directly on Bittrex, cryptocurrency exchange.
The Medical Cannabiz Event was recently hosted on November 4, 2019, to November 05, 2019, in Malta. The focus of the event was on the regulatory benefits of companies settling in Malta. The event has attracted several medical researchers, entrepreneurs, policymakers, and entrepreneurs from across the world who are looking for newer opportunities.
DMG Blockchain is working on a full-service supply chain and source platform for the Canadian Legal Cannabis Industry.
ParaGon (PRG) has provided comprehensive blockchain solutions for several issues plaguing the blockchain industry. The DLT is used to authenticate the product and to provide eventual confirmation about the legality of the transaction and thereby keeping away from regulatory interference.
PRG, DMG, THC, POT are the cryptocurrencies currently used in Medical Cannabis transactions.