The USD 2.7 billion legal cannabis industry remains unbanked

[Brekyrself]

Well from a high level, where exactly can a blockchain get involved?  Does "banking" automatically equal a store of value (bitUSD etc...?)

-Transaction (customer to dispensary)  This would force customers to use an atm to transfer cash to crypto and dispensary back to cash to pay taxes/bills?
-Dispensary to "invest" some of the stock pile and perhaps take advantage of something like the nano card.  I could see this as a prime target for a money laundering case.
-Crypto as a sort of public inventory system allowing tracking from growing to using?

On the flip side the blockchain could provide the ultimate transparency in transactions gov entities would seek.  This goes for all businesses and gov spending alike!

[clemahieu]

Banking is a pretty tough nut to crack.  To become the equivalent of a bank in that you're storing value you'd need to make sure the code is secure which is already being worked on but you'd also have to work to secure private keys against theft and loss.  You'd need to be insured and be a compliant money transmitter and possibly more at least in the US.  It's an interesting concept though it's probably better as an add-on to the system rather than having the core team focus on that part since it has significant hurdles.

[Method-X]

Nothing cool like this is possible without liquidity.

[nicejeans]

I was reading through this article and wondering, how would legal cannabis businesses benefit from bitshares tech. Is this an industry that we should be trying to get more involved in? What would that look like? Is bitshares ready for this yet? How would our ecosystem handle the large amounts of cash?


https://reason.com/reasontv/2015/02/17/protecting-marijuanas-cash-industry-when#.d4iuok:eInf


I'd like to hear your thoughts!