Are Cryptocurrencies Going to Solve the Marijuana Industry’s Banking problem?

by:    Ali Porras

In the past few years, the rise of cryptocurrencies and the marijuana industry have made both controversial markets practically impossible to ignore. With the two most googled economic terms in Canada in 2017 being “marijuana stock” and “the price of bitcoin”, the widespread and continuously growing public interest is undeniable. Bitcoin particularly, has been on an epic rise, soaring more than 2000 percent in value within the 2017 year. Even British Columbia approved the first registered bitcoin fund manager in September 2017. In North America, marijuana sales totaled almost $7 billion in 2016, with a whopping 30% growth rate. To boot, North American sales are projected to top $20.2 billion by 2021. Now the question everyone wants to know: Will cryptocurrencies be a part of the solution for the Marijuana Industry’s banking issue? To comprehend the answer to this, you must first have a deeper understanding of both markets. Here’s what you need to know.

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