Carrying markets are not necessarily the most popular or best understood by their contemporaries. A commonality that only lengthens the list of reasons to be interested in cryptocurrencies and CBD or cannabidiol (a form of medical cannabis). Because the world of tomorrow is built on the bridges that are being built between today’s forward-thinking players.
The list of similarities between the cannabidiol (CBD) and cryptocurrency markets could be the subject of an entire article. Perhaps simply because they are currently at the same stage of their respective developments. Between the massive adoption they deserve and the restraint that unfamiliarity with their offerings brings. All this against the backdrop of a regulation that does not seem to grasp their true potential.
It seems important to remember that the US or European Union authorizes the use of hemp flower when the THC concentration is less than 0.2%. This in fact authorizes the marketing of products based on or containing CBD.
The reality and similarities of these two markets could be summarized in three main points:
- Very high development potential
- Innovative market with proven usefulness
- Victim of unfounded prejudices
Already in 2018, an article from the news website Bloomberg highlighted the effective relationship between these two areas. This by calling them perfect bubbles in the face of the crisis.
CBD facing the banking challenge
The therapeutic cannabis (CBD) market suffers from a lack of recognition and misunderstanding of its products. Yet it is a non-psychoactive form of cannabis recognized as such and quite legal in many countries. A formula that retains its soothing and pain-relieving properties, but has nothing to do with its THC version. This makes it an advanced tool to fight against chronic diseases or anxiety, without any form of addiction.
Quite a few countries have made the substance legal and classified it as a non narcotic in the past months. Some like France, have authorised the sale of all types of CBD products aside from CBD flowers (Source).
But prejudices have a hard life. This is despite the many commitments of the players in this market to ensure perfect traceability, with the help of blockchain technology. It is enough to note the difficulties and pitfalls encountered by companies in the field. Especially at the banking level.
A reality that David Miguerès, founder of the company Chilled, relates in an article on the subject published in the French newspaper Les Echos last July. His company distributes CBD-based sparkling drinks.
“Our funds have been blocked several times on PayPal because they feel we are selling drugs. We had to go through an online service in the U.S.” – David Miguerès, Chilled
One of the reasons why some companies in the sector are wondering about the implementation of payments in the form of cryptocurrencies. A system that is independent of banks and impossible to censor.