THELOGICALINDIAN - n-a
The acknowledged cannabis industry has a botheration – it’s not absolutely legal.
Every time a accompaniment like Oklahoma or Maryland legalizes cannabis for medical or recreational use, assembly from the Federal Bureau of Alcohol, Tobacco, Firearms and Explosives (more bargain accepted as the ATF) admonish the accessible that cannabis is still a controlled actuality by federal law.
That agency it’s actionable in any state for any medical or recreational cannabis user or agent to backpack a firearm. And this botheration is fabricated bigger because the ATF is alone one of the abounding government agencies watching the cannabis industry on a federal, state, and bounded level.
This commodity is abundantly contextual – the cessation is almost straightforward, but the charge to arrive at that cessation is what takes a little explaining. And cryptocurrency – in this case, Dash – is active in accouterment the band-aid to the botheration I’ll now outline.
We already discussed how the DEA, DOJ, and added federal agencies put a clasp on banks doing business with state-authorized cannabis businesses. Cannabis is a cash-only industry because alike acknowledged marijuana companies don’t accept admission to cyberbanking services.
At the time, I absolved the role of cryptocurrency in stabilizing cannabis, but I did admit the account of blockchain in state-mandated seed-to-sale tracking programs. Today, I batten with Ken Ramirez, the co-founder and CEO of Alt Thirty Six, a Dash partner absorption on the cannabis niche.
Since I’m amid in Arizona, forth with Dash and Alt Thirty Six, I asked him to argue me of the account of Alt Thirty Six and Dash in the cannabis industry. He affected on several key credibility that accord me achievement for both cannabis and crypto, and it revolves about the better botheration in both industries – security.
Welcome to the Wild Wild West
The Southwestern U.S. has continued been accepted as the Wild West. Even afterward the beachcomber of accumulation shootings in the USA, in states like Texas and Arizona with open-carry laws, it’s acknowledged to go appealing abundant anywhere with a gun unless there’s a acquaint assurance advertence otherwise.
In Cochise County, area I grew up, aggressive troops, Bound Patrol agents, coyotes, smugglers, and added allotment the land. Even with a MMJ card, I’ll accept my anesthetic baseborn by federal agents at the bound stops as I get aback to Tucson from visiting family.
The government may be the better assemblage on this block, but it’s far from the alone one.
Cannabis dispensaries in every accompaniment accept bound aegis procedures because they’re routinely beggared at gunpoint. Retired military, law enforcement, and added aegis professionals are accommodating to assignment in the industry, but the alone way they’re able to accurately backpack weapons is by alive through a third party.
The bulk of accomplishment that goes into aegis is amazing to see. If you’ve not apparent it, Bodyguards: Secret Lives from the Watchtower is a abundant attending at clandestine aegis practices from Bieber’s babysitter to Blackwater security.
Born and aloft in Tucson, Ramirez understands this environment, and Alt Thirty Six has a lot of ally allowance accompany added aegis to the cannabis industry. Many were artificial at this year’s MJBizCon in Las Vegas.
Two Negatives Make a Positive
Alt Thirty Six is a cannabis acquittal platform, but that’s not as simple as it sounds. There are a lot of affective genitalia in the cannabis accumulation chain, from growers to manufacturers, distributors, retailers, and more.
Sales don’t aloof appear amid consumers – they appear amid businesses forth the way, and these affairs all charge to be tracked and uploaded to accompaniment auditors.
On top of all this, cannabis is a banknote business, so these affairs are harder to attach agenda annal to. The aggregation takes affliction of this with armed aegis acrimonious up the cash, aloof like best retailers use (although some still accept night managers bead deposits off at the bank, which is acutely dangerous).
When banknote is deposited into the ATM, DASH is issued and acclimated to pay for products, in both B2C and B2B transactions. The concrete banknote is about captivated in escrow by Alt Thirty Six, which handles the conversions amid DASH and USD to abate the accident of a airy cryptocurrency market. Because it’s not a cannabis aggregation (it’s a tech aggregation that happens to account that sector), Alt Thirty Six and Dash can both admission cyberbanking services.
Alt Thirty Six balances aegis and acquiescence throughout the cannabis accumulation alternation to advice abate losses in a boxy industry.
As both cryptocurrency and cannabis abide growing, so do the use cases of accumulation the two.
The columnist is not currently invested in any coin, token, or asset mentioned in this article. He is, however, a medical marijuana cardholder in the State of Arizona.
We would like to apologize to John McAfee for the account that drugs and accoutrements don’t mix.
