A lot of research is going on in the blockchain technology industry to make the Cannabis industry comfortable in complying with consumption-related law enforcement. Blockchain-linked social networks for Cannabis are increasing in number. Horticulturists are passing on their knowledge to new growers in the industry.
Rama Mayo, the co-founder of cannabis agency Green Street, stated, “Blockchain is still very new technology. People that are claiming to do it, I don’t know what they’re doing or what’s going on.”
There are several unbanked dispensary owners cannabis industry for whom financial innovators are creating solutions. There is a growing impact of the blockchain industry in the legalization process of Cannabis.
DMG Blockchain is a private venture, full-service supply chain platform for the Canadian Legal Cannabis industry.
Nezly token permits growers and sellers to organize their business operations, providing for a financial mechanism that can be seized or frozen. The platform offers advice on topics like land acquisition, growing equipment, strain selection, horticultural techniques, and product pricing.
ParagonCoin provides distributed ledgers that can authorize the products and confirm if a transaction is legal and free from regulatory issues. ParagonCoin facilitates for everything related to the industry from creating a digital space for the cannabis industry, finding an affordable property which the Cannabis startup can rent, and support blockchain innovation in the blockchain industry.
GrowPayment provides the GRPM tokens, which can be exchanged for Cannabis, Hemp, Vaporizers, and Hemp. The platform is integrated with Paypal and other kinds of cryptocurrencies. It works in complete compliance with international regulations.
CannaSOS is a blockchain-based platform where users rate and review different marijuana strains and Cannabis. The platform provides the PerksCoin (PCT), which provides for transactions with the Cannabis ecosystem.
Budbo provides for smart contracts that are used in frictionless Cannabis transactions. Patients and recreational users store their medical information on the encrypted server.
Growers International provides a community token known as GRWI, which facilitates transactions in the ecosystem.
PotCoin serves as a store of value for the Cannabis industry. Individuals and businesses use HempCoin within the Hemp and the legal Cannabis industry as a “THC payment system.”
Alt36 provides to pay for the Cannabis transactions digitally by making use of blockchain technology. The platform also provides a mechanism by which vendors and suppliers can connect.
The Cannabis industry is embracing the blockchain technology “Blockchain is a new, little-understood but much-discussed technology.”
The blockchain technology appeals to different people in different ways. Even those people who do not consider anything trustworthy trust the blockchain technology.