A small yet growing number of marijuana businesses are adopting or experimenting with a nascent technology born out of the cryptocurrency phenomenon.
Advocates say the technology, known as blockchain, could potentially:
Solve the payment and banking hurdles facing cannabis businesses.
Help companies obtain loans.
Be used for seed-to-sale tracking – a common requirement in legal marijuana markets in the United States.
“Blockchain technology can be used in the cannabis space the same way it can be used in any industry,” said Kevin Fortin, a cryptography expert and patent attorney with the Hoban Law Group in California. >>>