P. Diddy is buying Cannabis business for $185m and might consider investing in BudBlockz
P. Diddy has recently turned into the most recent hip-hop billionaire. Now, the famous rapper wants to create turmoil in the cannabis world, announcing his plans to invest $185m in cannabis businesses. Here’s why the cannabis industry is in the spotlight and why he might consider investing in
North Brunswick approves its first Marijuana Dispensary
NORTH BRUNSWICK – The township's first medical marijuana dispensary will be opening on Route 1. Garden State Botanicals' proposal to convert a 2,400-square-foot space at a shopping center at 1345-1471 Route 1 southbound was approved by the township's Zoning Board of Adjustment last month. The
First cannabis clinical trial takes off in South Africa
The Cannabis Research Institute of South Africa (CRI) has sponsored a year-long study that examines the effectiveness of medical cannabis as an alternative to opioids for chronic pain management. In addition to demonstrating therapeutic efficacy and pain relief, the objective is to provide credible
Carbon-busting Hemp could help transform Scottish agriculture to zero emissions
Hemp is one of the oldest traded plants in the world, and cultivation in Scotland started as far back as the 11th century. Historically, cannabis — the name of the plant from which hemp is derived — was used to produce rope, cloth, lighting oil and medicine from around the year 1000 until the late
Here’s why the cannabis industry is in the spotlight and why he might consider investing in BudBlockz.
P Diddy’s planned deal for $185 million will turn into the largest cannabis business in the world, massively increasing Black participation in this industry. While 39 out of 50 states legalized weed for medicinal purposes and 19 for recreational use as well, the industry is still stained by social stigma.
The famous rapper’s initiative will further create opportunities in this field, especially as cannabis products represent the fastest-growing industry in the US. The acquired business is a multistate cannabis operator and owns the entire process, ranging from growing weed to manufacture and distribution.
Thanks to the large move into the cannabis world worth $185 million, BudBlockz may be next on the list. While large, established, brick-and-mortar companies are highly profitable in this industry, BudBlockz has the first-mover advantage. It combines the cannabis industry with the investment world and the booming crypto space, resulting in a win-win-win combo for consumers, businesses, and investors.
BudBlockz is a new project in this space, but it has created a massive buzz in the media thanks to its many use cases and benefits for the platform’s users. Perhaps one of the main disruptions is that BudBlockz will finally create a secure, transparent marketplace for marijuana transactions from all around the world.
In addition to demonstrating therapeutic efficacy and pain relief, the objective is to provide credible, reliable, and verifiable data to the relevant authorities to regulate the availability of medicinal cannabis.
A global crisis continues to arise as a result of opioid misuse, which is responsible for thousands of deaths every year.
Overdose deaths from drugs in the United States numbered 91,799 in 2020, with opioids accounting for 68,630 (74.8%). According to estimates by the World Health Organization focused on opioid overdose, approximately 115,000 people died of opioid overdose in 2017.
Medications such as morphine, fentanyl, and tramadol are commonly used as opioid pain relievers.
The WHO further states that it is possible to become dependent on opioids if non-medical use, prolonged use, misuse, and use without medical supervision are involved. Overdoses caused by opioids can be fatal due to their pharmacological effects.
Although the Office of Cannabis Management has not yet delegated any cybersecurity requirements for New York cannabis companies, your cybersecurity plan should not be a second thought or just thrown together because it is required. Cyberattacks are extremely costly, both directly and regarding reputation management.
While a variety of solutions may fit your specific needs, there are some common sense steps you can take to begin developing your plan and hardening your business systems against hacks, breaches and attacks.
The first step in shoring up your cybersecurity is identifying your weaknesses and being knowledgeable of the sensitive data you may be storing. Assess what kind of data your business is harboring and where that data is held, then identify how it can be vulnerable to hackers, data leaks and breaches. These risks are where you want to start when developing your cybersecurity plan. It is key to quickly address your most obvious weak points. If you can identify them, there is no doubt that hackers can as well.
Generally, it is best to ensure all your online systems and databases are hardened from breaches via hackers, spyware and bots. This could mean adding extra firewalls, additional levels of access authentication, access management measures and mobile device security management. Privacy is very important in cannabis because of the nature of the data you could be storing, especially in a medical setting which can include sensitive patient information. Like in any business, you want your customers to feel confident that the information you’re collecting from them is safe and not going to end up in a leak.
If a breach happens, you’ll want to know as soon as possible. Be sure to set up parameters for detecting a hack or leak and identifying the compromised database or information. While the hack may have already occurred, you’ll want to be able to move quickly to absolve the situation and prevent further information from being accessed or exposed.
Since hemp became legal on the federal level, entrepreneurs the world over have been looking to cash in, and a large segment of the consuming public has been all too interested to find out what they will come up with.
As exciting as new cannabis extracts may be, they also generate lots of questions. How safe are these new chemicals? Where can they be found and who are they for? The answers to these questions can be quite complicated.
In this article, we take a look at a few of the new products out there. What they are, how they work, and how to use them. Read on to learn more!
Delta-8 is a synthetic hemp-derivative that has only recently come before the public eye. Like other hemp-derivatives, it has been used to reduce stress and regulate sleep patterns. Some also associate it with increased levels of focus.
Delta-8 dosage can vary significantly depending on the purpose of its application. However, standard use dosages often come in at around 20-32 mg.
Drug overdose deaths from opioids continue to rise in the U.S. as a result of both the misuse of prescription opioids and the illicit drug market.
But an interesting trend has developed: Opioid emergency room visits drop by nearly eight per cent and opioid prescriptions are modestly lower in states where cannabis is legalized.
Marijuana is produced by the cannabis plant, which is native to Asia, but is now grown throughout the world. Individuals use cannabis for both its psychoactive, euphoria-inducing properties and its ability to relieve pain.
Chemicals produced by the cannabis plant are commonly known as cannabinoids. The two primary cannabinoids that occur naturally in the cannabis plant are THC — the psychoactive compound in marijuana —and CBD, which does not cause the sensation of being high.
Many cannabis users say they take it to treat pain, suggesting that readily available cannabinoids could potentially be used to offset the use of opioids such as morphine and oxycodone that are commonly used in pain treatment. A safer, natural alternative to opioid painkillers would be an important step toward addressing the ongoing opioid epidemic.
This deal is being touted by Uber and Leafly as a great leap forward for the industry. The companies claim the arrangement will provide several benefits, including more business for the retailers, increased choice and flexibility for consumers while reducing the illicit market, and less impaired driving. However, these arguments hold little water.
Consumers are able to use the Uber Eats platform to order cannabis products from any of three Toronto-based retailers — Hidden Leaf Cannabis, Minerva Cannabis and Shivaa’s Rose — provided they are within the retailer’s delivery footprint.
The ordering experience is similar to ordering food delivery on the app: Customers navigate to the “recreational cannabis” category, then to their chosen retailer’s menu where they select their desired products, then state whether they will pick up the order or prefer delivery. Uber then transmits the order to the applicable store. Once filled, the order is delivered to the customer by the retailer’s own delivery staff, as prescribed by law.
Ontario’s provincial cannabis regulations were only recently modified to permit delivery, although they do not allow third-party delivery. The retailer’s drivers must be employees of the retailer and be CannSell certified, as well as are required to verify identity and age at the time of delivery.
From the consumer’s perspective, the deal will merely provide another online location to order cannabis for delivery, on top of the Ontario Cannabis Store (OCS) and other private retailers.
That’s what Tucson general contractor Micaela Machado hears from people when she describes homes made with hemp lime.
”You can grow a two thousand square foot home on four acres, in one season, which is four months,” Machado said. “You can heat and cool it so easily, especially in a place like here in the desert, it’s just a whole lot less energy to heat and cool your house.”
Machado mixes hemp stalks with lime and water and shapes it into bricks. No, this is not the kind of hemp that creates a high. There are thousands of varieties of cannabis, and industrial hemp must have less than three-tenths of a percent of THC, the psychotropic chemical in marijuana.
Hemp cultivation became legal at the federal level with the 2018 Farm Bill.
“There’s a total stigma to it still, because it’s cannabis, but people don’t understand, it’s not a smokable cannabis,” said Machado.
In the same statement, he asked the U.S. attorney general and secretary of health and human services to review marijuana’s classification as a Schedule 1 drug under the U.S. Controlled Substances Act – a change that could have huge ramifications for Florida’s booming cannabis industry.
Federal law currently classifies marijuana as a dangerous substance on the same level as heroin, with no medical benefit. For context, that’s a higher classification than drugs such as fentanyl and methamphetamine (both Schedule 2), which are responsible for thousands of U.S. overdose deaths each year.
Rescheduling marijuana as a Schedule 3 substance or descheduling it altogether could pave the way for cannabis growers and dispensaries to function as legitimate businesses. One of the biggest wins would be the ability to qualify for standard business tax deductions, said Nima Tahmassebi, partner at Perlman, Bajandas, Yevoli & Albright in Coral Gables.
Section 280E of the federal tax code eliminates trade or business deductions for businesses that traffic Schedule 1 or Schedule 2 drugs, including cannabis sellers. That applies even if ventures operate in states where cannabis is legal.
“That can cause the effective tax rates on cannabis businesses to be extremely high – 40% to 80%, rather than 21%,” Tahmassebi said.
If the last few years have taught us anything, it’s that the line between the physical and virtual worlds is now more blurred than ever. The continued growth of cryptocurrency and its ability to impact real-world landscapes has been particularly noteworthy, and BudBlockz is the latest digital asset to showcase the integration of crypto with other sectors.
In this case, BudBlockz has quickly united the crypto arena with the legal marijuana industry. Given the success that both sectors are currently enjoying, it’s no wonder that interest in the BLUNT token has soared.
BudBlockz and the BLUNT coin isn’t the first time that a marijuana-related asset has entered the blockchain. However, it is far more than a meme coin. Budblockz is the world’s first decentralized platform specifically geared to support the legal marijuana industry and its community has the potential to change the landscape of this growing sector through an advanced ecosystem that utilizes asset-backed NFTs and fractional ownership to great effect.
The marijuana industry is growing with a CAGR of over 32%, but businesses and consumers continue to face several issues. The private yet secure transactions provided by BudBlockz support dispensaries, farms, and consumers by creating an open 24/7 marketplace in legal jurisdictions. As businesses continue to face banking issues despite the changing legislation, the decentralized blockchain tech that provides instant transactions also highlights how digital currencies and utility tokens can pave the way for a new era.
BudBlockz has further demonstrated the ability to unite different sectors by introducing digital NFTs. At its heart, though, the commitment to supporting the marijuana sector is underpinned by the fact that it sets out to launch its own dispensaries. Meanwhile, members of the BudBlockz decentralized autonomous organization will additionally have a say in future decision-making processes.
Similar ballot questions will appear on ballots this year in four other states, including South Dakota.
The measure would legalize the possession and purchase of small amounts of marijuana for adults 21 and older. The 19-page statutory measure would also allow adult residents to grow limited amounts of cannabis at home.
If passed, Measure 2 would direct regulators to establish rules and create the legal pot program by October 2023. The measure would allow officials to license up to seven large-scale marijuana growing facilities and 18 retail pot stores, known as dispensaries.
The language of the proposed measure closely mirrors a 2021 bill that passed the North Dakota House of Representatives but failed in the state Senate.
Voters in the state approved the legalization of medical marijuana in 2016 but rejected a recreational legalization measure in 2018.
With cannabis growing beyond the traditional confines of dispensaries and cultivation sites, the hospitality space appears to be the next big industry endeavor despite current regulations lagging behind the mainstream interest.
Sites like BudandBreakfast.com and Vibesbnb.com are two options that connect guests with hosts who allow marijuana use on their properties. Some properties provide more than just a space to use cannabis – specific rentals can offer a variety of cannabis experiences and activities like yoga, massages, and sometimes even cannabis education classes. Comparable to navigating VRBO or Airbnb’s site, BudandBreakfast and Vibesbnb allow potential visitors to search by location, price, amenities, and available facilities.
Upon the property’s booking, the rental owner designates specific smoking areas for guests. Rental owners also have the option to provide cannabis for guests or specify if guests need to bring their own. This novel business model is proving to be immensely popular – some rental spaces are currently booked six months in advance.
As of now, BudandBreakfast hosts 2,000 listings – a much smaller market than VRBO and Airbnb’s listing reach. Despite the limited cannabis rental properties now available, analysts expect huge returns for cannabis tourism. Forbes predicts that tourism for cannabis is a $17 billion industry.1 Combined with cannabis sales estimates projected to climb from $25 billion in 2021 to $42 billion in 2026,2 it is clear that the industry has the capital to develop into tourism and hospitality fields.
Beyond the aforementioned rental websites, many individuals are actively seeking to break new ground with cannabis-friendly spaces across the country. In Washington D.C., Nicole Butler manages a bed-and-breakfast where she greets guests with cannabis products.3 To amplify the ‘bed-and-breakfast’ aspect of the rental, she provides guests with a variety of cannabis-infused snacks and food.
NEW YORK - KoreConX's innovative approach to the cannabis ecosystem enables companies to raise money by accepting credit cards. It sounds like a simple solution, but it can actually revolutionize how the sector operates. Using the exemptions of Regulation A+, Regulation CF or Regulation D, companies can easily turn their customers and brand advocates into shareholders.
KoreConX has enabled credit card acceptance and escrow providers in their platform, ending the issue of high fees that were traditionally charged from this sector due to a perceived higher risk and lack of nationwide legalization, especially in the USA. Although legal for medicinal and adult recreational use in some states, there are still obstacles that cannabis companies face regarding their capital needs.
Nonetheless, President Joe Biden's announcement that all federal convictions for simple marijuana possession were to be pardoned is a milestone in the continued growth of the cannabis sector. According to Grand View Research Institute, market size was valued at USD 13.2 billion in 2021 and USD 16.7 billion in 2022, with a revenue forecast of USD 102.2 billion for 2030, which would represent a compound annual growth rate (CAGR) of 25.5% from 2022 to 2030.
Secure platform
Companies in the cannabis sector had found it difficult to raise capital in the traditional capital markets, making the private capital market a more viable option. KoreConX All-In-One Platform uses its proprietary solution based on blockchain - the KoreChain - to make transactions and shareholder management safe for investors and entrepreneurs.
BREMERTON - Pelican Delivers is thrilled to announce it is currently in talks with Tesla to create and produce vans specifically for delivering cannabis.
Pelican Delivers is the first and only, on-demand patented cannabis delivery service in the United States and Canada. The company collaborates with state/province-licensed cannabis stores to purchase products and then deliver them directly to the consumer, utilizing innovative technology to facilitate dynamic workflow of orders, real time lead generation for drivers, escrow, release and transfer of funds and authentication of customer identity prior to delivery. Pelican Delivers strives to always comply with both state/provincial laws and interstate commerce.
In the company’s most exciting news to date, Pelican Delivers is collaborating with renowned electric automotive company, Tesla, to design and manufacture delivery vans specifically created for delivering cannabis. The historical announcement comes at a time when electric vehicles are wildly sought-after for both individual and commercial use, and when cannabis use is at an all-time high.
“We couldn’t be more pumped about our concept of electric cannabis delivery vans,”
says founder and CEO of Pelican Delivers, Dave Comeau. “This is an idea we’ve had for some time, so to be in current talks with Tesla about our vision is such a humbling experience. We can’t wait to see what the final product will look (and drive) like.”
Founded by husband-and-wife team Dave & Tina Comeau in 2017, Pelican Delivers is an on-demand nationwide patented cannabis delivery service, which officially started in 2018. Prior to Pelican Delivers, Dave was the IT Supervisor at one of Washington State’s largest Tribal Casinos. Having gained this casino experience, Dave and his family opened the Ponderay Café & Casino in Bremerton WA, where he was the general manager. In 2010, Dave was a Medical Marijuana Grower and processor where he grew the business from one small tent in his garage to an 8,000 sqft warehouse. In 2016, Dave opened a chain of retail cannabis stores (Better Buds) in Washington State with annual revenue over 16 million.
The SQDC’s edible cannabis catalogue includes items like dried beets, cauliflower and figs – a notable departure from what consumers might expect to see at their local dispensary.
Unlike other provinces, which sell candy-like edibles, the sale of cannabis chocolates and gummies are off-limits in Quebec, because they could appeal to children.
But some fear that Quebec’s hesitancy to embrace candy and sweets-based edibles could backfire as weak competition to the black market.
“If we want to kill the black market, we do have to offer the consumer what they want,” said Pierre Leclerc, CEO of the Quebec Cannabis Industry Association.
He says that the SQDC’s collection simply can’t stand up to what might be offered on the street, or in other provinces.
Researchers believe medicinal cannabis can serve as a viable pain management alternative to opioids. After surveying thousands of people, study authors report patients using medical marijuana were in less pain and functioned better both physically and socially.
Additionally, and perhaps most importantly, the study also notes the majority of those who took oxycodone, codeine, or another opioid for pain were able to stop or reduce their opioid use by switching to medical cannabis.
Overall, scientists from Emerald Coast Research, a contract research organization based out of Florida, and Florida State University College of Medicine say their findings indicate medical cannabis can potentially reduce opioid use in certain individuals under proper medical supervision. While more research is necessary, medical cannabis may be a powerful asset in the fight against the opioid epidemic.
The ongoing drug crisis has been a national problem for over a decade, but COVID-19 only made matters worse. In 2020, preventable opioid-related deaths increased by over 40 percent. Bigger picture, drug overdose deaths tied to opioids (including non-prescription drugs such as heroin) have increased more than eight-fold since 1999. Officials have connected over 550,000 U.S. deaths to opioids during that time (1999-2020).
Opioids are certainly good at suppressing pain, but that effect is highly addictive. While the U.S. may be the “epicenter” of the opioid crisis, it’s hardly exclusive to North America. Opioids are a worsening public health issue in numerous countries including Sweden, Australia, and the United Kingdom.
If approved, the fund would be named for Herman Malone, a longtime minority business activist in Denver who died last year.
Denver Mayor Michael Hancock and the Denver Economic Development & Opportunity department are proposing the creation of a $15 million investment fund for minority- and women-led startups, which would be created using marijuana sales tax dollars.
The city officially announced the proposal Wednesday and said the investment program would be named the Malone Fund after Herman Malone, a longtime minority business activist in Denver who died last year.
Under the proposal, the city would obligate 1% of marijuana sales tax dollars to grow the fund. The creation of the fund must be decided on by the Denver City Council, which is expected to vote on the issue this month.
If approved, the fund would become Denver's first equity-focused investment tool designed specifically to level the playing field for minority- and women-owned small businesses, the city said.
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