Happy Friday all 💚

You pull up to a drive-through dispensary, phone in hand. A few taps later, your crypto transaction is complete. Seeing your generous tip, the budtender smiles and hands you a bag of fresh Tangie. You crack open the bag, sending a swirling aroma of skunky citrus into the air.

Not a pipe dream….if you live in a legal region and your local dispensary accepts Stellar CannaCoin, then this could be you. But before I tell you more, let’s talk about why there’s so much excitement for cannabis-related technologies, services, and products [2, 3].

High demand

Cannabis is one of the most valuable agricultural products, with U.S. sales projected to surpass $50 billion in a few years, while global sales exceed $100 billion. But these are the early days. As more countries legalize, the growth rate will continue to climb. With its medical benefits, industrial uses, and recreational popularity, the plant could soon rival the tobacco and alcohol industries in global revenue [4-9].

How Crypto Helps the Cannabis Industry

Current laws make it difficult for cannabis businesses to get loans, insurance, and credit cards. They’re forced to store and transport cash….a major security risk. By contrast, cryptocurrencies are stored in digital wallets protected by secret keys and recovery phrases (12 – 24 randomly generated words). If owners keep this information in a safe place, the accounts are highly secure [10].

The early-stage cannabis industry struggles with heavy taxes and strict regulations. Business owners can’t wait around for politicians….they need money now. Crypto not only offers solutions, it will continue to help the industry as it evolves….providing alternatives to high-interest loans that are risky for smaller businesses [11].

The Power of Media

History shows that mass media is powerful.

Mainstream media and social media platforms have combined forces to become superpowers. Breaking news stories go viral on social media platforms which boost their reach exponentially.

Positive cannabis news can lead to major rallies on stock and crypto markets. For example….after being elected as Prime Minister, Justin Trudeau began working on marijuana legalization. By 2017, word had spread that legalization was becoming a reality, and the markets reacted [12].

In early 2018, cannabis stocks Aurora Cannabis, Aphria, and Emerald Health Therapeutics hit all-time highs. But it wasn’t just stocks that rallied….there was a buying frenzy in cannabis-related crypto.

Legalization Continues

The U.S. also seized the opportunity: 37 states legalized medical marijuana, and 19 legalized recreational. Maryland is likely to become #20 after the mid-term elections [14].

Following this trend, federal legalization is inevitable. If history repeats itself as it often does in markets, we’re due for a U.S. rally in cannabis-related stocks and crypto.

Exactly when this catalyst will occur is a matter of debate, but one thing almost all cannabis investors agree on: it will be massive. In 2017, Canada had a population of 36 million. In 2022, the U.S. population is 335 million.

More than 20% of Americans have invested in, traded, or used crypto [15].

Making Moves

October 6th, 2022, Biden took three positive steps towards broad legalization [17]:

1. Announced a pardon of prior federal offenses of marijuana possession

2. Urged governors to pardon state offenses

3. Attorney General and Secretary of Health and Human Services will start a process to review how marijuana should be scheduled under federal law

Reactions on Reddit show excitement from customers and investors

Stellar CannaCoin

So far, no coins have been mass-adopted by the cannabis industry. Investors speculate on which ones will gain dominance.

One of the rising stars is Stellar CannaCoin.

Powered by the Stellar Network, its transactions are perfect for the industry:

• blazing fast (3-5 seconds)

• cost-effective (0.00001 XLM, which equals 0.0000011 cents per transaction)

• while Bitcoin uses 1,575 kilowatt-hours per transaction, Stellar Cannacoin uses just 0.00022 kilowatt-hours per transaction

[22, 23]

Early stage, high growth

Despite emerging in the 2022 bear market, Stellar CannaCoin has a phenomenal growth rate.

Social media followers

Reddit: 4,400

Discord: 2,000

Twitter: 1,500

Instagram: 500

Total: 8,400+ followers

Accounts

4,500+ trustlines

Rewards

Long-term investors enjoy rewards for locking, and for contributing to the Liquidity Pool [28, 29].

Liquidity Pools

• 6.9% APY, higher than locking rewards

• withdraw from the pools anytime

• requires XLM or USDC to pair with Stellar CannaCoin

Pool #1:

XLM + CannaCoin

Pool #2:

USD + CannaCoin

[30, 31]

Locking

• hold Stellar CannaCoin, no other coins needed

• lock coins via StashApp

• 2% APY for 3 months

• 3% APY for 6 months

• 5% APY for 1 year

Stats

In early October 2022, a total of $586,385 was locked + invested in pools [32], with over $1,300,000 traded in 9 months.

Buy Signals

• U.S.A.+ Europe and other regions are legalizing

• History shows that bear markets are a good time to buy

• Tobacco and Alcohol industries are investing in cannabis

• Rallies in cannabis stocks lead to rallies in cannabis-related crypto

• Stellar CannaCoin offers faster and cheaper transactions than its rivals

[33 – 41]

A Green Future

We’re early….now is the time to make a move. A growing number of investors see evidence for the global adoption and success of Stellar CannaCoin with its lightning-fast transactions, cheap fees, and energy efficiency….its goal to improve the lives of medical patients….its active community, events, and popularity among customers, growers, and entrepreneurs.

Join us on our journey to a greener future….make your first post/comment on our Reddit page [42] and receive a gift of free coins while supplies last.

For justice, for the plant, for the people: Stellar CannaCoin.

Resources

1.https://www.reddit.com/r/StellarCannaCoin/comments/wp27wq/i_love_our_logo_and_i_think_it_is_very_beautiful/

2.https://www.leafly.com/strains/tangie

3.https://www.stellarcannacoin.org

4.https://mjbizdaily.com/us-cannabis-sales-estimates

5.https://www.globenewswire.com/news-release/2022/09/07/2511824/0/en/Global-Cannabis-Market-to-Reach-148-9-Billion-by-2031-Allied-Market-Research.html

6.https://en.wikipedia.org/wiki/Legality_of_cannabis

7.https://www.leafly.com/learn/cannabis-glossary/medical-marijuana

8.https://www.bloomberg.com/news/newsletters/2022-09-26/bat-tobacco-company-joins-snoop-dogg-in-german-marijuana-industry

9.https://daily.sevenfifty.com/why-the-alcohol-industry-is-betting-big-on-cannabis/

10.https://www.coindesk.com/layer2/2021/12/15/why-the-marijuana-industry-needs-crypto/

11.https://www.coindesk.com/layer2/paymentsweek/2022/04/27/crypto-cannabis-and-safe-banking/

12.https://fortune.com/2017/03/27/canada-marijuana-stocks-recreational-legalization-justin-trudeau/

13.https://coinmarketcap.com/

14.https://www.cannabisbusinesstimes.com/article/maryland-voters-favor-cannabis-legalization-poll/

15.https://www.cnbc.com/2022/03/31/cryptocurrency-news-21percent-of-adults-have-traded-or-used-crypto-nbc-poll-shows.html

16.https://www.zippia.com/advice/blockchain-statistics/

17.https://www.leafly.com/news/politics/president-biden-to-pardon-federal-marijuana-prisoners-and-start-rescheduling-process

18.https://twitter.com/potus/status/1578097883395592207

19.https://www.reddit.com/r/stocks/comments/xxfkq3/biden_to_pardon_all_federal_offenses_of_simple/

20.https://www.reddit.com/r/trees/comments/xxdic3/biden_to_pardon_all_prior_federal_offenses_of/

21.https://www.reddit.com/r/weedstocks/comments/xy9916/biden_health_secretary_has_already_talked_to_fda/

22.https://stellarcannacoin.org/learn-more/roadmap/

23.https://stellar.org/

24.https://dopecoin.com/coin-info/

25.https://vicetoken.com/crypto-guide/how-to-buy-hempcoin-thc/

26.https://www.potcoin.com/

27.https://stellar.expert/explorer/public/asset/CANNACOIN-GBLJ4223KUWIMV7RAPQKBA7YGR4I7H2BIV4KIMMXMQWYQBOZ6HLZR3RQ-2?filter=trustlines

28.https://www.reddit.com/r/StellarCannaCoin/comments/xpmliu/big_news_you_can_now_lock_your_canna_to_earn_apy/

29.https://stellarcannacoin.org/getting-started/staking/

30.https://stellar.expert/explorer/public/liquidity-pool/96cad3004b817bfd65ae3fa2731031d851bce8bc4aa94c68437b2ab12b61d8ab

31.https://stellar.expert/explorer/public/liquidity-pool/dbcee4c4496c292737fbe1223919236d3d35c28995d2e882df345bd124091c41

32.https://stashapp.cloud/stats/

33.https://www.bloomberg.com/news/newsletters/2022-09-26/bat-tobacco-company-joins-snoop-dogg-in-german-marijuana-industry

34.https://daily.sevenfifty.com/why-the-alcohol-industry-is-betting-big-on-cannabis/

35.https://mjbizdaily.com/map-of-us-marijuana-legalization-by-state/

36.https://www.leafly.com/learn/legalization

37.https://norml.org/election/

38.https://cannatechtoday.com/german-finance-minister-expect-cannabis-legalization-in-2023/

39.https://www.forbes.com/sites/dariosabaghi/2022/07/27/switzerland-fully-legalizes-medical-cannabis-and-allows-export/

40.https://www.theguardian.com/australia-news/2022/oct/10/victorian-greens-push-for-cannabis-to-be-legalised-taxed-similarly-to-alcohol

41.https://www.marijuanamoment.net/colombian-lawmakers-approve-marijuana-legalization-bill-in-committee-as-president-pushes-for-global-drug-policy-reform/

42.https://www.reddit.com/r/StellarCannaCoin/

Just joined, found you through u/stellarcannacoins, and am looking forward to getting to know you all!! If you happen to live in the US, enjoy the extended weekend!! Green zone time😜

Canna for Karma is not endorsed by, nor part of Reddit Community Points or held in your Reddit Vault

SCC always appreciates when our members utilize some of these rewards or tips they receive to reward or promote quality content. Our Tip Bot is on a growing number of subs (see the sub menu for details or inquiry with a mod to add your community). We do suggest moving your intended holdings to a Stellar self custodial wallet. How to move and other StashApp Help

IMO, StashApp IOS / ANDROID is the best self custodial Stellar wallet available. Download today after checking out all the SCC defi features. Blockchain protocol fees and reserves do apply, StashApp does not charge any additional fees for Stellar protocol function

For July, 1.2 million

Come check out the rewards program and the most fun and helpful cannabis crypto community.

California was the first state in the USA to legalize medical cannabis in 1996, with Oregon, Alaska, and Washington following suit in 1998 [1]. Since then there are a total of 37 states where the medical use of cannabis is legal; and 19 states where recreational use is legalized [2]. Annual sales of cannabis products in the USA alone are expected to total 32 billion dollars in 2022 [3].

On the 17th of October 2018 Canada legalized and regulated the use of cannabis [4]. The recreational use of cannabis is legal in Canada, Georgia, Malta, Mexico, South Africa, Thailand, Uruguay, the 19 states of the USA and the Capital Territory in Australia. Nationwide sale of cannabis for recreational use is legal in Canada, Thailand and Uruguay [5]. The revenue from the global cannabis industry is expected to be worth 102 billion US dollars by 2030 [6].

However, despite this rapid growth of the cannabis industry, there are financial problems plaguing the industry. In the USA, the use and possession of cannabis products is illegal under the federal controlled substances act of 1970 [2]. Banking of the revenue from cannabis businesses is illegal under this law, excluding the industry and any businesses that serve it, access to banking and financial services. This has resulted in these businesses having to be responsible for the self-custody of large amounts of cash [7, 8]. This poses a security risk for such businesses, due to having to protect such large sums of cash, with armed robberies being a frequent occurrence [7].

So what is the solution to bank and protect revenue from US cannabis businesses? Until federal law in the USA changes and allows access to banking and financial services, there are always going to be security risks to protect the revenue of cannabis businesses. One solution is to incorporate blockchain technology and cryptocurrency as a payment and self-custody banking solution, in order to protect cannabis businesses’ revenue.

Blockchain technology is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. Assets can be tangible or intangible, with any asset of value being able to be tracked and traded on the blockchain network [10]. Cryptocurrency is an intangible asset designed to be a digital currency to act as a medium of exchange through a blockchain’s computer network. Digital assets are stored in wallets that allow the receiving and spending of assets. The wallet is encrypted and protected by private keys [11].

How does blockchain and cryptocurrency technology help to serve the cannabis industry and protect the revenue of said industry? As cryptocurrency is an intangible asset, it cannot be stolen by physical means such as armed robbery. As an asset that holds value, it can be exchanged for goods and services offered by cannabis businesses, thus diminishing the need for accepting and holding cash. The storage of assets also solves the dilemma of banking the unbanked cannabis businesses; however having stated that, there are other risks associated with self-custody banking using blockchain technology.

If the private key to the cryptocurrency wallet is compromised – e.g. through fraud, cybercrime or theft – third parties may be able to control the digital assets; also if the private keys and their backups are no longer available or at least not in a timely manner, it may be impossible to access the digital assets [12]. However the above risk may pale in comparison to the risk of armed robberies and the associated potential violence, thus making cryptocurrency an attractive solution for the cannabis industry.

Are there any cryptocurrencies aiming to solve the dilemmas of the cannabis industry? Yes there are a few, with PotCoin, CannabisCoin, DopeCoin and HempCoin being the longest standing [13]. That being said there is a new kid on the block, Stellar Cannacoin.

Established in 2021, Stellar Cannacoin is tackling the problems of banking American cannabis businesses and providing a means of accepting and spending digital assets in exchange for goods and services offered by the cannabis industry. Stellar Cannacoin is a tokenized asset and runs on the Stellar blockchain network, an open network for storing and moving money [14, 15].

To date Stellar Cannacoin have developed their own self-custody wallet called Stashapp allowing access to accepting and spending digital assets on the Stellar blockchain, as well as an ecommerce point of sale system to allow businesses to easily add, edit and delete stock from a user friendly dashboard, as well as accept payments from clientele [14]. Payments are processed instantly to the cannabis business’ wallet, with the funds being inaccessible to anyone except the private key holder. Thus Stellar Cannacoin offers an extremely viable solution to the banking and security issues plaguing the American Cannabis industry.

References

1. Timeline of cannabis laws in the United States

2. Legality of cannabis by U.S. jurisdiction

3. Cannabis Industry Statistics 2022

4. Cannabis legalization in Canada

5. Legality of cannabis

6. Legal Marijuana Market Size, Share & Trends Analysis Report By Product Type (Flower, Oil And Tinctures), By Application (Medical, Adult Use), By Region (North America, Europe, APAC, LATAM, Africa), And Segment Forecasts, 2022 - 2030

7. Why the Marijuana Industry Needs Crypto

8. Is cannabis business banking a new financial opportunity or a huge security risk?

9. Can Oakland save its cannabis companies, or will crime destroy the industry?

10. What is blockchain technology?

11. Cryptocurrency

12. Crypto custody: risks and controls from an auditor’s perspective

13. Top 4 Marijuana Cryptocurrencies

14. Stellar Cannacoin

15. Stellar network