It’s that time when we dust off the year that was and look forward to what may be in the year ahead. At MJ Freeway, we are looking forward to the definitive merger agreement with MTech to be finalized. This will create an exciting new chapter for us and the industry, but we’ll talk more about that later. For right now, let’s do some speculating. Here are my top 10 predictions for the cannabis industry in 2019 (because ‘tis the season for lists, and who doesn’t love them).
In early 2009, when I invested in one of the first legally licensed businesses in Colorado, there was very little competition in this industry.
The most famous business advisors will tell you the secret to succeeding in business is innovation.
With cannabis losing its stigma, many more parents are consuming the drug than ever before. While cannabis is mostly unharmful, some worry that cannabis use in parents can impact the health and wellbeing of children.
Aside from the restrictive rules that govern the production and distribution of cannabis products, the transition from individual to fully public is the greatest challenge faced by most cannabis businesses. Luckily, technology is materializing to fill the void. Recently, Microsoft paired with KIND, a “seed to sale” platform to aid government organizations manage and potentially impose cannabis experience.
Since legalization, cannabis has undergone a transformation from an illegal narcotic to a respected medicine. Here in the United States of America it has been legalized for either recreational and/or medical use in 28 states.
The cannabis industry in the United States gets stronger with every state that legalizes. However, this political dance of legalization state-by-state is slowing us down in the global marketplace.
People are falling in love with concentrates.
Since 2004, sales of concentrates has grown by 412%. By comparison, edibles have grown 272% and flower has grown 149%.
Putting numbers aside, there’s a lot to dig about concentrates.
Three of us were crouched on a ledge, 5 feet wide, the first ledge in over 1000 feet of physically and mentally demanding rock climbing. We were climbing Spitzkoppe, an 1800 meter (5900 feet) tall, granite spire that majestically towers over the Namib desert in Namibia in Africa.
Blockchain must be THE hottest buzz term around right now, even eclipsing cryptocurrency to which its technology has been so famously applied. At least once a week, an acquaintance sends me either a new cannabis cryptocurrency ICO (Initial Coin Offering) notification or a new article on the cutting edge startup that is going to change cannatech forever with its blockchain application.