It is without a doubt that the cannabis industry is booming as a total sales $6.7 billion was reported by 2017. Nine of the 30 states legalized the use of recreational marijuana, while the other 21 states have legalized medical marijuana. Truly, the times are changing as 30 states have legalized the use of marijuana. With that in mind, I wanted to come here and present to you ways on how the blockchain technology can actually assist in transforming the cannabis industry. Nevertheless, both industries are receiving an influx of talented programmers and entrepreneurs looking to present a solution that will resolve their respective industry_s biggest worries. On another note, cannabis also exists in a speculative market with an unclear set of regulations. It_s quite understandable why a few industries have misunderstood blockchain technology, considering that it is a fairly new niche in a speculative market with a somewhat foggy set of laws. Basically, blockchain is the technology typically used by Bitcoin, which is a type of digital currency, in keeping track of its records. It sounds a lot harder to understand according to this definition. Moreover, Google may have given you an answer like this: _Blockchain is a decentralized, distributed, public ledger._ If you have been following cryptocurrency over the last few years, you may have already come across the term _blockchain._ If you_re not a tech expert like me, then you would have relied on Google for the definition of blockchain. I_m just an ordinary person like you and me, yet I was able to perform research on blockchain technology, and let me tell you, it_s quite impressive. Despite having a somewhat complex name, blockchain technology is quite easy to understand. I would be grateful if you could mention me in the bio section and add a link to Ĭan Blockchain Technology Really Solve The Problems Faced By The Cannabis Industry?įor sure, anything related to technology may seem too complex for the ordinary person.
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