- States with medical marijuana laws
- States that have removed jail time for possessing small amounts of marijuana
- States that have both a medical marijuana law and have removed jail time for possessing small amounts of marijuana
- Marijuana is legal for adults and is taxed and regulated similarly to alcohol; state has a medical marijuana law
Federal Legalization & Federal Banking
The legalization of marijuana has tasked US. Federal and State Legislatures with the oversight and regulation of this drug in a manner that protects the citizens it governs, the businesses that provide the distribution, and the growers that provide the supply. Policies, procedures, and laws need to be created, implemented, and upheld in a verifiable and accountable manner if the United States ever wants to see federal legalization and wide adaptation of the medicinally feasible herb. Until the federal government can meaningfully monitor and ensure the supply chain from seed-to-sale there is little hope for federally funded banks to accept these illegally made gains.
Deloitte Study 2017 - Recreational Marijuana Insights & Opportunities
The possibility that the federal government will legalize and regulate marijuana for recreational purposes presents a bold new landscape for Canadian businesses and governments alike.
Nonetheless, the issue for regulators remains one of designing a system preferred by the current consumer or the non-consumer. With the majority of the Canadian population still identifying as non-consumers, it's likely that decisions about where marijuana may be sold will ultimately be driven by that constituency.
Moreover, what might the system look like in terms of distribution, government revenues, training and tracking? Colorado has a sophisticated seed-to-sale system that tracks plants using RFID from seed through to retail sale, which helps with analytics and identifying potential leakage. Unfortunately they have experienced lawsuits and setbacks due to the limitations of their technology for supply chain regulation. Whether Canada uses a similar or different system remains to be decided. This will likely have a large effect on retailer decisions.
The Blockchain Opportunity
Canada has both an opportunity and a major challenge as it relates to "seed-to-sale" Accountability. After a federal legalization of medical marijuana, with recreational legalization just steps away, they can start the oversight with the right technology tools and advisors, or they can follow in the footsteps of the Medical EMR Industry and the US cannabis industry missteps and follies. The blockchain eliminates the disconnected information sources, fragmented data analytics, and partial transparency & security.
Our goal is to work directly with the Canadian Industry leaders and Government Task Forces to support the domestic and foreign distribution of cannabis to consumers.