Money is a 2,000 year problem, which was begging for a solution and it took a few clever people to collaborate and build the underlying infrastructure, which would forever change the world. Blockchain technology has forever changed everything we ever knew about money. As blockchain has changed how we interact with money, it will also transform one of the biggest and most important industries globally, cannabis. Both industries, despite being misunderstood, have the potential to change the world as we know it. With the power to help any business stay transparent and utilize peer-to-peer power, visionary thinkers are already coming up with creative ways to pair this revolutionary technology with this powerful plant. While both industries have the potential to disrupt the global economy, there is a key difference to how the public perceives blockchain technology and the cannabis plant; while many people simply do not understand the blockchain, many people actually fear cannabis.

While cannabis has been legalized for recreational and medicinal use in many states across the U.S. and Canada, the industry still has a long way to go. The legal business has yet to gain 100% consumer loyalty or market share as the illegal cannabis business is still thriving. Additionally, the growth of the cannabis industry has been curtailed because of the apprehensiveness of the government and established financial institutions. Even though most of the mistruths surrounding cannabis have been publicly disproven, there is still a stigma associated with the plant and the industry.

Due to this stigma, cannabis businesses are not permitted to use traditional banking services. This unfair restriction puts cannabis entrepreneurs at an extreme disadvantage when it comes to creating a successful business. Unfortunately, this out-of-date policy is preventing many small businesses from finding lasting success as well as many aspiring entrepreneurs from achieving the American dream.

Interestingly enough, blockchain-enabled technology can help cannabis companies utilize decentralized finance opportunities in order to make up for these backwards laws. Further, this technology presents cannabis brands and businesses with exciting new ways to communicate and connect with consumers.

One pioneer who is bullish on using blockchain enabled technology to accelerate the growth of the cannabis industry is Eric Benz. Benz is an experienced and successful entrepreneur who is on a mission to ‘destigmatize, democratize, and decentralize’ the cannabis industry. As a market disruptor and thought leader in payments, finance, and cryptocurrency for over a decade, Benz is the perfect person for the job. Benz has accumulated a wealth of knowledge and a powerful network during his time in these industries — as the CEO of Changelly in a past life and as a current partner in MYNT.vc. Benz is already using his knowledge and network to help propel the cannabis industry forward in the best light possible.

Eric Benz Eric Benz Photo: Eric Benz

As one of the core contributors of CannaDAO, a decentralized autonomous organization (DAO), Benz plans to use innovative blockchain technology to help open up financial resources for cannabis entrepreneurs. CannaDAO has some big announcements slated for April 20, 2022. In a bid to foster cannabis entrepreneurship and investment, this DAO will enable its community members to participate whilst earning rewards across all sectors of the cannabis industry. CannaDAO will allow its members to participate in project governance, including the proposal of new cannabis growing opportunities, voting on submitted proposals & funding approvals, and participating in growth operations by harvesting yield through token staking.

Benz clearly sees the future and according to him, it’s green. This plant alone has the power to revolutionize industries whilst also saving humanity. In addition to its widely acknowledged medical functions as well as cultural influence, cannabis is on the verge of changing the industrial manufacturing process in many important markets. Since hemp, an aspect of the cannabis plant, can be used as a sustainable alternative for textiles, paper, food, biofuel, insulation, and much more, the world is missing out on a plethora of quality eco-friendly products due to the lasting stigma. Throughout history, however, it hasn't always been this way as many of our ancestors took advantage of the plant’s wide application. In fact, the Columbia History of the World found that the oldest relic in human industry is a scrap of hemp fabric dating back to approximately 8,000 BC.

As the cannabis industry evolves, entrepreneurs and investors who see the plant’s transformational power are more necessary than ever. The industry needs visionary leaders and advocates who will help pave the way for the cannabis businesses moving forward. Luckily, Eric Benz is up for the task; with ethical clarity, leadership qualities and a lifetime of experience. “The future of finance is green and we are excited to be at the forefront of the import evolution,” Benz says. For further information on all things crypto and cannabis please follow Eric Benz and Cannadao.org.