Study on the disruption that is coming with the collision of our legal system, the stranglehold of the payment gateway, the needs of the health, CBD, cannabis and health markets, and crypto payment.
Crypto payment/digital money talks about the un-banked in vertical industries as the low-hanging fruit for a first-in, unregulated market.
It is larger than they talk about, wider in scope, in its early infancy, and highly strategic in the long game.
Today eight states have legalized recreational use of Cannabis and some thirty that allow it in some manner. This number will probably triple within a decade as a legal business today operating beyond the banking system.
Our interest and work in the health and nutrition world have drawn me into the advantages of CBD or Cannabidiol which is different from Cannabis/THC. Both can be extracted from cannabis but medicinal supplements that use CBD are mainly stemmed from Hemp.
CBD is not psychedelic (doesn’t make you high), is legal, for sale most all over, has a host of advantages for diseases from depression to arthritis, and is a component in many beauty and sports supplements, sprays, and topicals.
In 2016, the government classified CBD that originates from marijuana as a Schedule 1 drug. Not technically prohibited but the payment gateways– credit cards, authorize net, Stripe– if they understand you are selling CBD-based products are refusing to service your transactions, or debilitating charges and have seized funds with little or no recourse, including bonds published to ensure payment.
How does this pertain to crypto?
A steady coin crypto gateway platform option that can cover this broad opportunity is inevitably going to occur in some style. A number are targeting it from a point option opportunity, seeing the vertical market-specific niche of cannabis as the unbanked low-hanging fruit. As they should.
As is sometimes the case, when you do the hard work to develop a generalized backend on crypto, you have the chance to target the broader opportunity if you are believing out-of-the-box.
Crypto, CBD, and Cannabis Opportunities
We have talked to people in the crypto payments area and many know the cannabis industry for a steady coin deal system.
We also understand that nearby industries like supplements and health through the CBD circumstance foreshadows that this is not almost recreational pot, it is a Trojan horse for an unbanked, unbranded, unacknowledged need for a new payment system across these multi-trillion dollar surrounding markets.
When the big business starts demolishing the small CBD-based supplement and beauty companies, which they most assuredly will, one transaction system will be needed across all the lines.
Many thanks for reading it. I hope you find this article useful and helpful.