Cryptocurrencies and the Cannabis

Last Modified:8 Dec 2019 12:26:14
Cryptocurrencies and the Cannabis

What Is the Relationship between Cryptocurrencies and the Cannabis Manufacturing Industry?

The world of cryptocurrencies and the industry of manufacturing and supplying cannabis are almost similar. There is a huge amount of money and capital in both. Legal and political issues are considered inseparable parts too. It might be interesting for you that these similarities will get them closer to each other finally. What is the relationship between cannabis and cryptocurrencies? Can these two meet each other at a point in the route and help in growing the other? Which one depends on the other?

Challenge in the World of Cryptocurrencies

The world of cryptocurrencies faces many challenges. Lack of legal infrastructures in different countries and international conferences to use them has caused some ambiguities in applying these cryptocurrencies. On the other hand, many retailers and traders avoid accepting cryptocurrencies such as Bitcoin and the like. Unawareness of cryptocurrencies and their pessimism toward them, on the other hand, have made the evolutionary route of these novel cryptocurrencies to move a little slowly.

Challenge in the World of Cannabis

The industry of cannabis includes its own challenges. One of the most basic issues in this industry is its being or not being illegal. Some countries and states recognize cannabis use and distribution, and in many part of the world, this industry confronts limitation and prohibition. If we look carefully, the existing barriers on the industries related to cannabis and cryptocurrencies are somewhat similar.

The Link between the Industries Related to Cannabis and Cryptocurrencies

The similarity of cannabis and cryptocurrencies links them. However, how? Many of financial institutions and banks avoid supporting active companies in the industry of cannabis since there will be legal and regulatory problems following this support. The world of cryptocurrencies doesn’t have any limitation and prohibition though and can change into a suitable platform for the operation of related industries to cannabis. They are these facilities on Blockchain platform and the world of cryptocurrencies which entitles their opponents to protest against these new technologies.

It is not just the issue of cannabis as an illegal industry in many parts of the world which makes the cryptocurrencies’ opponents stronger in protesting against them, but other illegal activities will be possible in this atmosphere. For example, many financial transactions in terrorist organizations are able to be deployed and executed by cryptocurrencies.

Final Remarks

Whether you like it or not, there is a huge capital circulated around the world in the industry of cannabis. The names and titles which guide this circulation are certainly seeking for new suitable tools which let them do the easier and faster activity. It seems that the world of cryptocurrencies owns numerous alternatives to offer the industry of cannabis. What can be suggested from these suppositions and observations will be more cooperation and coordination of these two issues (industry of cannabis and cryptocurrencies). The question raised in the beginning of this paper is that which one of these two areas can be dependent on the other? The answer is that both can play an effective role in growing the other’s evolutionary route.