Some view crypto as a possible solution to the cannabis industry’s banking problem of essentially forcing cannabis companies to operate outside of insured banking systems. As such, many are wondering if cryptocurrency might be the way to bypass regular banking systems without a federal bill?
The main issues cannabis tokens encounter are adoption, market capitalization and aiming. Instead of bringing new tech along with innovative proposals, these cryptos fail to confront the problem faced by the industry.
They also fall short because cannabis cryptocurrencies do not provide any innovation in their technology and are limited to a single industry, thereby narrowing their potential market outreach. A currency must be widely used and desired to be adopted by publicly traded companies.
A possible way for the industry to adopt a specific blockchain-based token could be providing cannabis manufacturers with the possibility of precisely tracking their production process from seed to sale, therefore guaranteeing customers quality control and vigilant product supervision.
As for now, unless someone comes up with a way to revolutionize the market, cannabis-specific cryptos remain impractical for the industry. Nevertheless, dispensaries would be wise to provide crypto payment methods to customers who choose to follow that financial trend.
Show Notes: Why Cannabis-Specific Cryptos Will Not Take On Mainstream, But Crypto In Cannabis Might https://www.benzinga.com/markets/cannabis/21/06/21613736/why-cannabis-specific-cryptos-will-not-take-on-mainstream-but-crypto-in-cannabis-might
Host: Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast. https://www.linkedin.com/in/joshkincaid/
Episode 750 of The Talking Hedge: Your Cannabis Business Podcast. Covering cannabis products, reviews, business news, interviews, investments, events, and more. https://www.theTalkingHedgepodcast.com
Music Info: Song: Beat | Keep On | 2020 Artist: Milochromatic Beats & Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018 Artist: LuxrayBeats
Keywords: Hemp News, Weed News, Cannabis News, Marijuana News, Cannabis Business, Marijuana Business, Cannabis Industry News, Marijuana Industry News, Weed News 420, Talking Hedge Podcast, Cannabis Podcast, Marijuana Podcast, Business Podcast, CBD podcast, THC podcast, Cannabis Pitch Deck, Marijuana Pitch Deck, Marijuana Investment Deck, Cannabis Investment Deck, Cannabis Compliance, Cannabis Data, Cannabis Banking, Cannabis Investment, Pot Stocks, Cannabis Stocks, Weed Stocks, Marijuana Stocks, Cannabis Data, Marijuana Data, Cannabis Analytics, Marijuana Analytics, Cannabis Sales Data, Marijuana Sales Data
Josh is not an investment adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers.
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