People in Massachusetts voted in 2016 for the legalization of recreational cannabis use.
Authorities are still going to review dozens of other applications from various businesses and entrepreneurs who are looking to get into the crony legal marijuana market.
One industry executive, the CEO of AmeriCann Tim Keogh, has estimated that the cannabis market in Massachusetts could eventually reach $1.8 billion or more.
The Chairman of the Cannabis Control Commission has said that the plans might be rolled-out a little slower than the public might expect. They insist that they had no legal requirement to have the stores opened by that July 1st deadline, though somehow that became an expectation of the public.
Banks Not Ready..
Aside from operating in cash, cryptocurrencies have been described as the payment solution for these retailers because it offers them another alternative. Perhaps some of the recreational cannabis businesses who are left without an option, not able to receive service from a traditional financial institution, they might instead look elsewhere for other alternatives.
Some entrepreneurs who are already involved with the medical cannabis market in Massachusetts, and looking to get into the recreational market, have said that without the access to traditional banking for their business needs, that they'd rather not open. However, they are hopeful that eventually some will agree to take on their business.
It's also reported that the Cannabis Control Commission has allegedly been trying to encourage local credit unions and other financial institutions to embrace the coming marijuana businesses. Though, because cannabis is still federally prohibited, this could be why some institutions are wary of getting involved.
Massachusetts joins other states like Nevada, Maine, Alaska, Oregon, Washington, and Colorado, that have also embraced recreational cannabis use.
Pics:
Pixabay
Sources:
https://www.bostonglobe.com/magazine/2018/06/21/questions-answered-about-legal-marijuana-massachusetts/s82i7NCEQvHO9oYY7Hh4GO/story.html
https://www.bostonglobe.com/metro/2018/06/21/marijuana-milestone-mass-issues-first-recreational-pot-license/w0PpD1zmGkrvNUQwtveQTJ/story.html
https://www.bostonglobe.com/metro/2018/06/16/cash-only-possible-for-first-pot-sales-mass/ENYjiCnoCiIseTMmsAwifI/story.html
https://commonwealthmagazine.org/marijuana/massachusetts-issues-first-marijuana-license/
http://boston.cbslocal.com/2018/06/21/recreational-marijuana-vote-massachusetts-sira-naturals/
http://www.patriotledger.com/news/20180621/insider-sees-marijuana-as-18-billion-industry-in-mass
http://boston.cbslocal.com/2018/06/21/recreational-marijuana-shops-opening-licenses-massachusetts/
https://qz.com/1255586/420-where-weed-is-legal-in-the-us-and-in-countries-around-the-world/
Related Posts:
The Freedom To Medicate
https://steemit.com/cannabis/@doitvoluntarily/the-freedom-to-medicate
will be interesting how it plays out imagine there will be ripple effects across the region and country
This change is going to circle the globe soon enough. I dont smoke but people need to be free to act, even if that action is lets say, imprudent.
We let people drink. We let people smoke nicotine. We ought to let people smoke weed.
Plus tax revenues will likely be significant.
Canada, where I live, is apparently going to legalize in Oct 2018.
I hope I will see you on smoke.io :D
what's that?
It will be similar with Steemit, we will have smoke power. The mainnet will be launched soon and an airdrop will happen in Q3, 1:1 to our Steem Power, check all the details here:
https://smoke.io/
https://t.me/smokenetwork
https://testnet.smoke.io/
I like they are saying they will solve the band problems but also a lot of problems we can find on steemit at the moment..and competition is always good. Let me know your opinion :D
Just realized you all ready checked it out! thanks!✌👍😁🚬
yeah i caught that one, thanks for spreading the news
Cool ! your welcome!😀
This is very good news. I understand how large banks might not want to get involved in the cannabis industry. As it relates to credit unions, however, I am a bit surprised. I would have thought that they were the counter-balance to the mainstream institutions, and hence would welcome an initiative like this, especially given that it has been sometime in coming.
I guess I misunderstand the whole thing. Let us hope that cryptos deliver on their promise to deliver us from these frustrations.
Wonderful Piece!
I have a conflict of interest with this note, I do not know if I'm ready for recreational cannabis, I'm in favor of medicine, although I'm not the one to question this determination, everyone is responsible and free to put whatever they want in their body.
thank you very much dear friend @doitvoluntarily for sharing this news
We should be allowed to medicate the way we want to. Simply let us alone. The Canadian new laws are a start but it is not even close to acceptable.
We shall now see what each province decides, it will be interesting. I am just going to sit back and spark one up like 'I done for the last 37 years. Whatever happens, I have no control of these changes.
This is so awesome @doitvoluntarily ! It will be totally legalized here in Canada finally on Oct 17 2018 , the Bill was just passed yesterday that I also did a blog about, its been a long awaited victory for Canadian Citizens, I will be useing the Oil for my Arthritis pain.Upped earler now resteemed!✌👍😁🚬
https://steemit.com/marijuana/@karenmckersie/vote-passed-today-marijuana-legalized-in-canada-oct-17
It is so about time, I live in MA... usually they have their head way up their political ass... this could be their fourth tax boon if they play it right; (Education, Hospitals, Technology).
Mientras sean para consumo personal y hasta en algunos casos medicinales no creó que haya problemas para que la legalicen @doitvoluntarily
People are definitely excited about the new laws coming to this great Commonwealth.