Marijuana Industry into Blockchain Developer Coin Switches to IOTA

While the cryptocurrency market has been steadily growing, the cannabis industry has seen equally impressive development in the United States thanks to several states passing legislation legalizing the use of marijuana, primarily for medicinal purposes, along with recognizing the health and wellness benefits of cannabis-based products. This, in conjunction with increasing support from the medical community, has helped the cannabis industry grow into a multi-billion dollar market.

However, the legal complications and negative associations make it nearly impossible for new businesses to get off the ground and for doctors in the space to be taken seriously. “These cannabis doctors are doing real work,” VerSteeg told CCN, “and it’s such a shame that people look down on them.”

VerSteeg and the team at Paragon Coin are building a blockchain-based ecosystem to support the infrastructure the cannabis industry desperately needs to help revitalize its image after decades of negative press and treatment by federal regulators largely motivated by outside pressure from industries who would be disrupted by the widespread use of hemp-based products such as paper and textile manufacturing.