The idea of marrying blockchain and cannabis sounded like a great idea in 2017 where you could take advantage of dual exploding markets in one ecosystem. It sounded good on paper, but the execution brought an SEC fine, and the ICO lost 98% of the token value in 2 years. To say they were early is an understatement.
You cannot fault the idea, and the future is bright for seed to sale tracking of cannabis on a blockchain. These markets are built for one another for the simple reason that marijuana laws will require tracking of every quiver of a marijuana leaf grown. The object here is to allow the governments, state and federal, to receive tax revenue.
Blockchains are a simple distributed ledger system which simply does not allow going back and altering the previous document, and via a smart-contract, these transactions can take place as software code without a human tending to it. This is the beauty of Bitcoin, and any public blockchain, to track and keep simple, the multitude of transactions that make up our world.
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