When looking to the future, especially in terms of business, two of the markets that stand out more than almost any others are cryptocurrency and CBD. Two markets growing at a startling rate, two fairly controversial industries, and two worlds in which there are still a lot of unanswered questions, the similarities between crypto and cannabidiol are clear.
But is there also the possibility that these two industries can help each other? That they converge into some kind of singular entity, cryptobidiol, if you will (don’t though, we shouldn’t have, we genuinely regret inventing that word already, “why wouldn’t you delete it then?” you may ask, a good question, and one we don’t have a good answer to. But we’re here now, and we all have to live in a world in which cryptobidiol, at least in this article, and at least twice. Anyway, back to the point).
Cannabis Swissx Bank
Here’s an interesting thing, not long ago, Alkiviades Davis (there’s a name for you), Coca-Cola heir and owner of many of billions of whatever currency you fancy counting in, announced that we could expect Cannabis Swissx, a platform designed specifically to aid in the facilitation of CBD purchases and transactions around the world.
This is one of many examples of investors in the CBD industry combining their ideas with those from the world of crypto, and we can only assume there will be more to come.
Cannabis, CBD and Cryptocurrency
Here’s another interesting thing (I know, right? We’re spoiling you today) there are already numerous cryptocurrencies aimed solely at the cannabis world that are already in existence. PotCoin is probably the biggest and most famous of these at the moment, but far from the only one worthy of note, with Tokes climbing quickly, and the likes of CannabisCoin, HempCoin, and Paragon not too far behind either.
Why the Interest in Combining?
Let’s get to the big question then, what is it about the CBD market that has gained so much interest from the crypto world (or the other way around, we’re not here to discuss the post hoc ergo propter hoc philosophy of the logic world of correlation and causation at this point, although we do love to, so feel free to send us a message to discuss that at any time)?
One of the simplest reasons is that the CBD market, and the cannabis market as a whole, is still a victim of a fair amount of misunderstanding, and many customers and merchants can find difficulty making or receiving payments for something that is still considered to be essentially a high-risk industry. Cryptocurrencies simply make that easier, allowing a certain level of anonymity and substantially less regulation than global banking companies could even imagine.
Could CBD and Cryptocurrency Help Trust?
It could be suggested that the CBD market now is where the crypto market was a few years ago. In the early stages of Bitcoin, it was seen as something that was only used for murky dark web purchases of drugs or whatever else (whether there’s truth in that or not, we are not here to say).
In the years since, however, cryptocurrency, led by Bitcoin, has kicked down the door to the mainstream and is now making an impact that few could have imagined in the early stages (whatever they may tell you now!).
In ways, this is where CBD is now. Not to the same extent, granted, but there is certainly a large amount of doubt and concern (understandably so) around this growing and still fairly unregulated market.
The combination of cryptocurrency and CBD could aid the world in seeing the potential for CBD for what it is, arguably the next crypto style revolution, something that could change the world and put huge amounts of money into the accounts of bearded hippies around the world.
Whatever the case, for the short term at least, cryptocurrency will at least be able to act as an alternative form of payment while the banking world tries to catch up with the growth in the CBD industry, and after that, who knows what could happen next?
If we were to launch our own cryptocurrency, what do you think we should call it? If we do, and we take your suggestion, we’ll make sure you’re rewarded!
Plantandhemp