In 2012 Marijuana became a legal substance in Colorado and Washington state. This
marked the start of a new industry with new growth and new opportunities. As time went
on, new laws, new businesses, and jobs flooded throughout America. Slowly, state by state
marijuana began to be accepted and legalized. Now more than ever, individuals are open to the legalization of marijuana with 70% of millennials supporting it. As of 2018, 10 states have legalized recreational marijuana along with 34 states having some sort of medical marijuana laws. Now by 2020, it is predicted that the new Marijuana industry will create jobs for over a quarter million of Americans.
Although certain states have allowed the usage of marijuana, the federal government still counts marijuana as a category one substance making it still illegal on a federal level. The illegality, yet
legality, of marijuana complexifies processes for business such as dispensaries.
Dispensaries annually sit on millions of dollars in cash due to them being unable to legally
store money in a bank. Hundreds of dispensaries nationwide have no ability to take credit
or debit cards, leaving customers unable to pay unless they are paying in cash. Overall,
things end up complicated for both the consumer and the producer. GanjaCoin strives to
solve these problems through the utilization of blockchain technology. GanjaCoin allows
consumers to quickly and efficiently make digital purchases at marijuana dispensaries.
Those who feel safer using digital payment methods are finally acknowledged. Producers
are able to save money on security and easily keep track of their revenue. Fees also
disappear before they are able to appear with debit and credit cards.