The cannabis industry has grown dramatically in size since the national government legalization in many countries around the globe. Companies in the marijuana industry are involved in the cultivation, growth, and distribution of cannabis and related products for both recreational and medical use.
Its effectiveness has already been proven as an analgesic and supportive component of therapy for oncology, AIDS/HIV, Crohn’s disease. Currently, the development of effective drugs based on CBD for the treatment of Alzheimer’s disease, dementia, diabetes, and epilepsy is underway. It is prescribed by psychotherapists as an alternative to antidepressants and sleeping pills. Its use is vast, growth is remarkable and overall it is the industry of a multi-billion business with excellent forecasts.
Being such a type of business is extremely profitable but at the same time having to face a large amount of specifics on the way. Businesses and operators distributing recreational and medical cannabis-infused products can face certain legal issues while working with banks for their transactions because of government legislation.
The choice to go in this case is simple, adoption of cryptocurrencies in the marijuana industry to carry out transactions. One of the first companies to implement a coin-based structure for investment was WeGrower Alliance. In order to fill the hole in this market, company leadership implemented a blockchain structure into its ecosystem.
For investment and international transaction purposes, the company introduced its own token. As a company CEO, Evans Martinez states “Diversity in financing when controlling the production process and costs are critical for cultivators who want to remain competitive in this industry” with the further reply “It is especially true for those who want to cost-effectively scale production without cutting corners.”
WeGrower Alliance is a full circle company therefore it produces, grows, and markets products with a big share in medical cannabis. Its medical cannabis is greenhouse-grown, allowing its plants to benefit from natural sunlight.
All of this was made possible by the implementation of a large-scale farmer network in the cannabis-friendly environment of Uruguay. Building an effective network and working with investors, companies next goal is to double production numbers by increasing the amount in the farmers network.
The company products include oils, soft gels, oral sprays, and cartridges.
The challenge for cultivators is not only reducing cannabis production costs but simultaneously increasing crop yields. This balancing act is key to driving production efficiencies that ultimately benefit the bottom line.