Over here at Kulture Hub, we want all parts of that cryptocurrency. Far, wide, near and distant, we’re out to replenish ourselves through generational wealth. How are we going to keep rising? The mixture of cannabis and crypto of course!
There lies a myriad of ways by which someone can level up. Thus, in this article, we will provide the wave to understanding crypto’s relationship with cannabis. Just grab your boogie boards.
Cannabis rolled gently into the crypto blockchain
Cryptocurrency’s relationship with cannabis is very infantile at this stage. You could thus even say the two are in the ‘talking phase.’
Either way, cryptocurrencies, and cannabis are a match made in the clouds. The reason being is that they mesh toge ther well logistically.
For those unfamiliar: cryptocurrency operates on the blockchain which stores information. Then, it is synchronized by a panel of trusted partners that protects the integrity of the data by which it stores.
Blockchain technology can secure critical cannabis information within segments. They can store all kinds of information such as genetic material, lab results, supply chain logistics, efficacy studies, location tracking, and consumer feedback.
Cryptocurrency is an incredible catalyst for change
Cryptocurrencies are the great neutralizer in business. They may level the playing field of impacted industries as the fees are low and relatively similar amongst most wallet exchanges.
Also, cryptocurrencies offer a much greater tactical advantage.
The blockchain would eliminate any potential for human error or mischievous activity. It would also debunk any claims of bias or inaccuracy as it operates based upon precise technology.
The inevitability of the link-up
Dispensaries joining forces with blockchain cryptocurrencies seems like an inevitable link up. I finally see what the creators of Super Mario envisioned – coins and mushrooms. Send tokens, receive hallucinations?
I think the most crucial aspect of why crypto and cannabis will ultimately create a symbiotic relationship comes down to the tracking aspect.
Blockchain seldom makes an error as it is accurate, permanent and provides real-time traceability. With ease, it may handle tracking, reporting, auditing to simply relieve the burden many budtender professionals face.
With all that being said, cannabis and cryptocurrencies are still very separated. Why might that be?
Many individuals within the cannabis industry believe it would tack high risk on top of ventures that are already that way.
Companies like TruTrace Technologies and Strain Source insist that they are not trying to eradicate systems already in place. Simply put, blockchain would empower the track-and-trace systems many dispensaries already use.
So how does one go from genome to distribution tracking? Well, all that and a bag of chips goes through the blockchain. Or at least it ought to.
Until then, stay tuned because this author is ready to release plenty more cryptonian gems from within the knapsack.