Sometimes when I think of the cannabis plant, it reminds me of the old fictional story about the caveman found preserved in ice and then thawed to join modern civilization. Introducing cars, tablets and fire to this prehistoric person, blows their mind. As the original keto dieters, foraging for plants and shelter are what they are used to. Coming across a wild cannabis plant would not be unimaginable at all. When the federal government made cannabis an illegal substance 80 years ago, it froze the plant and of its potential in time. A time that included society's quickest technological advancement.
Many agricultural products are still not grown using the most advanced technology available. While vertical grows and automation are certainly a part of all sorts of agriculture today, they are typically reserved for top valued commodities. If you drive across the middle of the U.S. you would still see traditional farming practices. Farmers are still perched on their tractors thinking about what crop they need to rotate in next. A lot of hemp is still grown outside too. Hemp isolates are produced from hemp flower for the most part. Instead of using the most advanced farming practices, hemp and all of its derivatives have a very interesting part to play in modern tech.
Due to the restricted nature of the Hemp industry, accessing loans or funding of any sort is more challenging than in other industries. Much of the money available to Hemp companies has costs associated with the loans far greater than any mainstream industry. So, in order to overcome this particular obstacle, many owners have turned to the internet and the innovations found there to access money with less strings. While crowdfunding does not necessarily have to be done through the internet, it is mostly an internet-based phenomenon. People will see opportunities to own small portions of a company while surfing the internet or through subscription services. Crowdfunding is a way for Hemp companies to access money without tremendous amounts of interest or having to give up control of the company later on.
Also, the world of cryptocurrency surrounds the Hemp and cannabis industry. Cryptocurrency is a digital currency that has value from the people that keep transaction logs around the world creating what is the foundation of blockchains. Again, due to the restrictive nature of the Hemp and cannabis industry, processing payments online or electronically is a challenge. Cryptocurrency companies look to solve that problem by developing relationships with these cannabis companies so that potential customers have a means of possibly acquiring Hemp products electronically. While the value of cryptos is in constant fluctuation and skepticism surrounds the merits of digital currencies, it is still an example of how intertwined the Hemp industry has become in modern technological innovations.
It’s interesting to see a plant based commodity that has just been legalized after so many decades get thrown into the quickly advancing technological world. Part of the reason why it is so embroiled in these innovations is the restrictions surrounding the sale and purchase of Hemp gummies, Hemp oil, Hemp topicals and other products. Technology is also trying to solve problems and since the cannabis space still has its problems, technology is trying to find it some solutions.