With the passing of California Proposition 64 by a 57.13 percent approval rate, sale and taxation of recreational Marijuana officially began on Jan 1, 2018, in the most populated state in America. Legalized marijuana quickly became one of the most sought-after sources of generating revenue, from previous dealers to young entrepreneurs trying to make their mark.
Those in the cannabis industry have a discerning eye for prime operating property, with some prioritizing location for the development of upper scale cannabis shops to cater to high-class clientele.
There are also some people interested in cannabis bars for patrons to indulge in. Cultivators typically look for private space to accommodate their growing requirements, away from prying eyes
Cannabis growers also provide an economic boost; real estate prices soar as more sellers begin investing in property, which is becoming highly competitive and driving prices exponentially.
"The warehouse to a cultivator is like a paradise," says B-Real of Cypress Hill, who rents space for growing. Previously, growers had to surreptitiously produce cannabis in their personal homes, always on the lookout for local authorities.
Now, they have the convenience and space to maximize their efforts, which also produces better quality and quantity for distribution purposes.
Challenges and responses
It’s not all smooth sailing, however. During the Obama administration, marijuana was excluded from the federal drug enforcement priority list. However, Attorney General Jeff Sessions overturned this motion in January, advising attorneys to use their discretion in pursuance of marijuana-related cases and carrying out federal regulations.
This ruling made it much more difficult for cannabis cultivators to sell or procure proper facilities for their business. Many landlords and property owners don’t want to be involved in or near cannabis businesses, effectively limiting their operating area. While recreational and medicinal users are provided with full access to cannabis, the notion of legalized cannabis has struck the wrong cord in many on the other side of the field.
Of course, it would behoove consumers not to indulge on site. To answer this call, the city of West Hollywood is expected to provide 16 licenses for cannabis lounges where customers can partake in cannabis consumption of their choice. These further drive cannabis sales while providing a safe environment for cannabis indulgers. Another benefit is that those who don’t indulge aren’t subjected to second-hand effects.
PotNetwork Holdings continues to rise
A major player in the rising CBD oil industry, PotNetwork Holdings, Inc. (OTCMKTS:POTN), is a publicly traded company that has become the industry leader in the field. Helmed by CEO Dr. Richard Goulding who is also a physician and surgeon, they focus on the production and distribution of products containing CBD oil.
They have a variety of products ranging from edibles, vapes, and drops with different strengths and milligrams of CBD. This offers the benefit of being completely adjustable for consumption purposes and needs.
PotNetwork Holdings, Inc. also provides edible for dogs and cats so pets can also receive the plethora of benefits from CBD. They officially revealed their subsidiary company Diamond CBD’s product line of Medipets at the Global Pets Expo. As the pet care industry continues to surge upwards, their popular CBD lineup has been expanded to provide the benefits to pets as well.
Brightfield Group projects the CBD oil industry in the U.S. will reach $1 billion by 2020. Overall, PotNetwork Holdings, Inc.
is showing an estimated 60-70 percent revenue increase in comparison to 2017.
Clearly on the rise, PotNetwork is displaying large increases in revenue. In 2017, they generated $1.79 million, and have more than tripled that total in just the first quarter of 2018 with $6.3 million. Monthly comparisons show similar surges in numbers, with a revenue of 893,000 in March 2017 and 2.2 million in March 2018, marking a 152% increase in sales.
The organization generated $3 million in just the first 45 days of 2018.
At the popular counterculture expo CHAMPS trade show, PotNetwork Holdings, Inc. generated much interest, catching the eye of over 250 distributors interested in the surging brand.
The company is also endorsed by legendary cannabis enthusiast, Tommy Chong.
The partnership resulted in the launching of a new product called Chong’s Choice CBD, which features 100% natural premium hemp and is personally endorsed by the popular Chong.
Lawrence Taylor Pain Master is another professionally endorsed CBD edible, the result of a partnership with the incomparable NFL Hall of Fame linebacker. The product was aimed at athletes to relieve pain from sports injuries and long-term conditions.
Acquiring a crypto mining pool
On April 16, 2018, all eyes were on PotNetwork Holdings, Inc. as media outlets revealed that the holdings company’s subsidiary Blockchain Crypto Technology Corporation had acquired a Ucrypto cryptocurrency mining facility. The climate-controlled mining pool features 115 mining rigs, which operate around the clock to facilitate cryptocurrency transactions for PotNetwork Holdings.
With the addition of Blockchain Crypto Technology Corporation’s brand new Ucrypto mining pool, CBD and other purchases and transactions will become more efficient via by utilizing blockchain technology, which features a decentralized currency and security features to protect against fraudulent activity.
Blockchain Crypto Technology Corporation has released some preliminary future plans for a fully integrated and unique cryptocurrency. Many eyes are awaiting developments on the proposed CBD alt coin, which is set to revolutionize CBD purchases for customers and merchants alike.
Slated to be available for future purchase on cryptocurrency exchanges such as Binance, developments of the CBD altcoin also focus on providing a decentralized and anonymous transaction channel, utilizing blockchain technology provided by Blockchain Crypto Technology Corporation.
With the popular lineup of CBD products and future investments and projects into cryptocurrency being planned and initiated, PotNetwork Holdings, Inc. will only continue to rise up and become a giant in the industry.
