The cannabis industry has steadily gained more traction as it is being legalized all around the world. However, our current economic ecosystem is hindering this industry's progressive growth. This is because the marijuana industry is shrouded by black market practices that are completely unregulated. These practices are not only slowing the growth of the cannabis industry but are also giving rise to different illicit activities that will further destabilize the system. Blockchain can be the perfect solution to this dilemma as it can provide the industry with a regulated ecosystem to help the industry prosper. In today's legal-weed regulatory landscape, it has the opportunity to be a reliable method of banking to an industry battling for legitimacy.
Before blockchain can be used to stabilize the market, it is imperative that the different components of this industry integrate at a certain level. This means that dispensaries, producers, cultivators, and labs should all find a common ground in order to expedite the growth of this burgeoning business. Currently, all of these components are working as separate entities and are operating in shady marketplaces, which is why the law governing this aspect of society has been adjusted. Furthermore, there are problems with transporting cannabis, transactions and cannabis solutions which all require a solution for this industry to thrive. This is where Paragon steps in as it plans to provide a solution to all of these problems to help fuel the growth of this industry.
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