The flurry of business in the cannabis industry is in absolute flux. Every aspect of the cannabis industry has been segmented and surfacing as service or consumer product. Cannabis entrepreneurs wait pensively for latest in regulation somewhat left in the dark. Governments from the US, Canada, Austrailia, Germany and more gear up to regulate and sell cannabis. As these countries spearhead the movement many states, provinces, and other countries look towards these troubadours for direction.
The US has seen the success of Colorado and many states have used it as a boilerplate for their own initiatives. Though there are some bugs to work out like the lack of banks willing to engage with Marijuana businesses. That in itself complicates business for cannabis entrepreneurs. Payroll becomes a security issue and furthermore provides a smokescreen for actual revenue and tax evasion. While big banks have prevented the cannabis market from performing transactions they have created and perhaps even encouraged other forms of payment gateways and currencies.
The rise of cryptocurrencies have gained popularity and even resulted in payment gateways that are not reliant on traditional payment gateways (Visa, Mastercard, PayPal etc). With the emergence of these alternative payment methods, they have ultimately contributed to new technology platforms that focus on catering to the cannabis industry. They have also created a whole sector of cannabis business and other illicit substances to operate in the grey independent of regulation and the need for banks.
The memories of yesteryear from the government’s battle with prohibition seem to have faded from history. Government enforcement of blockade the market’s insatiable appetite has never been more effective. Federal regulation throughout the globe seems to be uncertain how to handle cannabis in particular. On one hand, they have divided medicinal cannabis from recreational and applied respective rules.
For the most part, large companies have honed in on these emerging markets and have the capital and infrastructure to handle testing protocols and distributions which are necessary tenets of the safe sale and delivery of cannabis. Poised to control and perhaps even monopolize the market, they’ve in essence boxed out the founding farmers and originators of cannabis cultivation and culture. There’s a contingent of originators who are able to participate, but not allowed too. Adding insult to injury is the thousands of individuals primarily people of color that have been incarcerated while big corps position themselves to make a killing.