The financial issues of the burgeoning marijuana industry highlight some very important problems for a lot of small businesses in the United States. First, it is cash heavy, which make it vulnerable. Second, the clash of laws and regulations make it difficult for banks to service them. And third, it is more costly for them to verify their source of product. One solution to many of these issues could be the blockchain, which offers a cheap solution to verifying source, and provides a payment system that can eliminate an over-reliance on cash.
This week, Brett hosts with Jason Henrichs, Co-host and Host of the Fintech5 podcast, Penny Crosman, Editor at Large for American Banker, and Jessica Versteeg, CEO of Paragon and ParagonCoin, a cannabis blockchain and cryptocurrency aimed at solving some of the issues as the cannabis industry grows.
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