Crypto Could Protect Local Cannabis Businesses
In our new op-ed for the Orange County Register, we discuss the recent situation in San Bernardino County, where over $1 million has been seized from state-licensed cannabis dispensaries since November. We explain how dealing in crypto rather than cash could help these businesses avoid similar scenarios in the future.
The cannabis industry is in critical need of a viable, cashless system to meaningfully enhance efficacy, increase safety, and minimize government harassment. Fortunately, an option which doesn’t require federal legalization is already available.
Enter cryptocurrencies. In some respects, they function the same way as physical money issued by a government, as people can use them to purchase goods or services. In other ways, cryptocurrencies are unique. A government’s economic weight is behind government-issued currencies. But with cryptocurrencies, a limited supply or the value people place on the product determines its worth.