The cannabis industry has long been fragmented, both geographically and politically. Recognizing this, Mark Bonner, CEO of Cannaverse Technologies and creator of Cannaland, decided to take matters into his own hands. With a background in renewable energy, Mark Bonner brings a unique perspective to the cannabis industry. He saw the potential for a more streamlined, efficient and secure approach and set out to create it — a metaverse known as Cannaland. It is the world's first cannabis platform powered by blockchain technology, and Mark Bonner is at the forefront of the industry, leading the charge for a more unified, sustainable …

Entrepreneurs are betting on the future of the metaverse and cannabis industries. In the last decade, developments in government legislation have led to the legalization or decriminalization of cannabis in a number of countries, municipalities and U.S. states, allowing users to fully appreciate the sacred plant in both recreational and medicinal settings. While cannabis remains classified as a Schedule 1 drug by the United States federal government, decades of protests, scientific research and political lobbying have significantly reduced its stigma and opened the cannabis market for commercialization efforts. Technologically, the rise of the metaverse has reinvigorated the impact of having …

A California-based cannabis nursery has turned to blockchain and smart contracts to verify the authenticity of its medicinal plants. The cannabis nursery, known as Mendocino Clone Company, was named in a partnership announcement from the EMTRI project and tech firm Global Compliance Applications on Jan. 13. It will be harnessing the project’s blockchain capabilities to certify all clones, or baby plants, with a batch certificate. Cannabis nurseries are establishments that specialize in plant genetics, producing clones and baby plants and seeds for the purpose of wholesale distribution. The move allows the nursery to “document the beginning stages of a cannabis …

Similar to crypto institutions, cannabis businesses struggle to access financial services from banks and other payment providers. These businesses would either be denied financial services outright or have to pay exorbitant fees for receiving them. Utilizing blockchain and cryptocurrency, global blockchain technology company BitCanna offers an alternative in the form of cashless payment. Alternative funding for cannabis companies As mentioned, BitCanna ensures cannabis companies can gain access to financial services through blockchain. Instead of dealing with the restrictions set by credit card companies and banks, cannabis groups can receive payments through BitCanna Pay — an application providing instant, worldwide access …

A close look at the world around us would reveal a series of interconnected networks, both man made and in nature, from society to the plant world and even extending as far as the internet. To maintain functionality, each operates with its own rules. However, what makes each of these networks so powerful is the nodes that, when cooperating, can achieve more, faster and with greater efficiency. A truth that also rings true for the blockchain. This is where Cosmos comes into play. Cosmos was designed to build bridges between blockchains that previously operated as isolated islands, enabling them to …

A Romanian cannabis cooperative focused on the production of cannabidiol turned to blockchain as a way to overcome the challenges of running a legal business in a grey area of the law. While the health benefits of cannabidiol — better known as CBD — are becoming more widely accepted and understood, the possession, production, and transportation of cannabis remains illegal in many parts of the eurozone. As a result, service providers ranging from banks to trucking companies shy away from what is still considered a “shady market” according to The Coop Network. “As a result, the industry is not able …

Los Angeles-based rapper The Game, also known as Jayceon Taylor, is facing a $12 million judgment for his role in Paragon Coin Inc — a crypto firm alleged to have engaged in an unregistered initial coin offering (ICO) four years ago. Taylor publicly endorsed the Paragon Coin ICO on social media back in 2017. Paragon touted its PRG tokens as a currency for the cannabis industry and raised $70 million from the public between April 15, 2017, and Oct. 15, 2017. Plaintiffs’ first filed a complaint against the offering in 2018, however, Tyler was initially let off the hook as …

A global blockchain technology company that helps cannabis companies to go cashless has announced that it is upgrading to Cosmos. BitCanna was built to support marijuana businesses that struggle to access financial services from banks, credit card companies and online payment providers — with firms often having to stump up excessively high transaction fees because of a lack of choice. The platform’s current blockchain operates on a custom-built version of BTC/DASH technology. Although this initially worked well as a payment network, the infrastructure was first released over a decade ago — and executives say they are hoping to capitalize on …

SynBiotic SE, a German cannabis company, has announced that it is following the lead of companies like MicroStrategy and Tesla in shifting part of its liquid cash holdings into Bitcoin (BTC). In a Feb. 16 update on its website, the company stated that the move was spurred by “legitimate concern about a massive devaluation of fiat money,” due to an “excessive increase” in both euro and U.S. dollar money supply. CEO Lars Müller went further, stressing that the decision was not driven by recent price appreciation, but that, “we have more long-term confidence in bitcoin than in euros or dollars, …

A new bill introduced to the Rhode Island state legislature aims to boost the state’s economy by opening up the “Ocean State” to blockchain innovators. Dubbed the Rhode Island Economic Growth Blockchain Act, the bill was introduced on Feb. 8 by Republican House representatives David Place and Blake Filippi. The bill states that the proposed creation of a regulatory sandbox in Rhode Island was spurred by the need to compete in the twenty-first-century economy: “The state of Rhode Island understands that to compete in the twenty-first century economy, Rhode Island must offer one of the best business environments in the …

The recent vow by United States Senate leader Chuck Schumer to end federal prohibition of cannabis could have knock-on effects for Bitcoin (BTC) and the wider cryptocurrency industry. Schumer and fellow Democratic senators Ron Wyden and Cory Booker released a joint statement on Feb. 1, declaring their intention to comprehensively reform federal cannabis legislation. The statement noted the disproportionate impact of the war on drugs on people of color. It stated: “The War on Drugs has been a war on people—particularly people of color. Ending the federal marijuana prohibition is necessary to right the wrongs of this failed war and …

Cryptocurrency derivatives exchange FTX has announced it is growing its line of tokenized stock offerings, with the addition of five cannabis-related businesses. The Wednesday announcement, tweeted by FTX and Alameda Research CEO Sam Bankman-Fried, came in a haze of ex-hemp-lary (sorry) marijuana puns. “To be blunt, this is one of the dopest joint listings we've done. FTX: blazing a path forward and weeding out the competition.” The newly listed tokenized stocks are some of the biggest names in the cannabis market: Tilray, Canopy Growth Corporation, Aurora, Chronos Group and Aphria. Tokenized and fractionalized stocks allow individual shares to be broken …