The landscape of the legal cannabis industry is drastically different now than it was even just a year ago. New companies are overflowing to fill the demand of the rapidly growing community of legal cannabis users to create an industry that is on par with the technological developments of the modern day.
Legal cannabis has traditionally been associated with the hippie counter-culture of the 1960's, but it has grown into so much more in recent years. With the onset of legalization and the massive influx of support not just across the nation but worldwide, the industry that was once relegated to the shadows is now provided the freedom of expanding and growing. Through collaboration with other booming industries, legal cannabis is able to provide innovation today that never could have been dreamt of a few years ago.
Originally, manufacturers in the cannabis industry that were considered upper echelon were all centered around glass. Since legalization, a more diverse marketplace has opened up. Instead of companies vying for the best glass hand pipes, bongs, or bubblers, they started competing to see who could come up with the coolest vape. Lately, this competition has strayed far beyond manufacturing, focusing instead on crafting the perfect technological advancement that will skyrocket the legal cannabis market.
Companies like Leafly and MassRoots have been around for a long time and have stood out as useful outlets to further educate the public on cannabis and all its intricacies. Though these companies have done a fantastic job of providing top-quality information to the masses, the needs of the community are constantly evolving, begging for far more ingenuity and innovation.
New Tech Incites Innovation
Since the dawn of legalization there has been an estimated $700 million invested into cannabis startups. Despite the federal illegality of cannabis, companies across the United States are pumping money into this fledgling industry in hopes of hitting it big.
Just about every facet of the industry is covered, with some of these startup companies already backed by wealthy investors that see the true potential of an industry that has been kept in the dark for so long.
Companies like Ease and GreenRush have taken hold in legal states, whether they be medicinal or recreational. Both of these startups focus on providing smokers with delivery of their favorite cannabis with ease. Other companies, like LeafLink, focus on connecting businesses together. But there is a new contender that aims to provide the best of both worlds. EOS, a blockchain project is being used to build what is dubbed a cannabis social network, taking advantage of the inherent interconnectivity of the community as a whole.
The Smoke Network Leading the Charge
One of the biggest buzzwords from the past couple years is "blockchain," and it is finally making its way into the cannabis industry. Most people tend to glaze over at the idea of a blockchain, even when it gets broken down into small, easy-to-digest pieces. However, you don't need to know how a blockchain operates in order to rejoice that a new competitor in the legal cannabis industry is trying to use it to create a lucrative and interwoven social network that will open up new and exciting possibilities in the future.
Smoke Holdings LLC is responsible for the creation of the Smoke Network, which is based in the EOS blockchain. This social network will allow legal cannabis users the ability to both create and consume digital media that completely uncensored. Unlike on YouTube, where advertisers determine what is appropriate for the site, the Smoke Network will allow users complete freedom from restrictions when producing cannabis content. Users even have the ability to earn cryptocurrency directly through the network.
Though the Smoke Network is in preliminary stages right now, there is huge potential here for the legal cannabis industry to grow even larger through the use of a decentralized network that does not restrict what users have to say. Even the best online headshops have to constantly be on the lookout, painstakingly combing through all of their content to ensure that it adheres to certain standards. These restrictions do not allow users very much freedom and are oddly reminiscent of Orwellian concepts. EOS and the Smoke Network allow online headshops and other sources of information for the legal cannabis industry to craft engaging and interactive content that is free of censorship and easily accessible by the entire community.
Innovative Companies are Morphing the Playground
The landscape of legal cannabis is constantly changing, with new companies showing up all over the place to cover every possible facet of this fledgling industry. Glass manufacturers, with all their awesome water pipes and bubblers, no longer reign supreme, and neither do vaporizer companies dominate the playing field with nifty herbal vapes. The cannabis industry is becoming a melting pot that derives its success from a collaboration of efforts across the board.
There is hope for a bright future for the legal cannabis industry with how drastically dynamic it is becoming. The industry is overflowing with innovation and determination to make it the best that it can be, and there is little that can truly impede this progress.