Successful entrepreneurs aim to keep their finger on the pulse of emerging markets so that they have the opportunity to capitalize on them. Which is why so many are wondering if emerging industries such as blockchain and cannabis could be intertwined--and how. A growing number of entrepreneurs say that they should be. Both blockchain and cannabis are seen as "business underdogs" transforming into massive opportunity markets. But does their correlation merely stem from their superficial similarities, or do blockchain and cannabis have much more to offer each other?
It's easy to see the ways in which blockchain can give cannabis companies a reliable tool for securing financing, managing inventory, and meeting many business needs without relying on third-party institutions that have proven so reluctant to support them. Similarly, cannabis offers blockchain a feasible, powerful use case, and shows that the technology is suitable for business adoption.
The more you look at it, the more it seems like blockchain and cannabis belong together. Here's what entrepreneurs, founders, and small business owners need to know about the utility and combination of these two emerging markets.
These hybrid companies operate in uncharted marketing territory.
A huge reason why these two industries have so much opportunity to disrupt the entrepreneurial space is that they function in an unknown space. This gives them the freedom and power to establish new precedents. This is especially true when you combine both of these markets (and their marketing needs).
A great example of this is the way that Verma Media, one of the blockchain world's top marketing agencies, is marketing the utilization of blockchain in the cannabis industry. Verma's blockchain expertise and marketing track record make them prime candidates for blazing a marketing trail in this new space. Verma Media recently partnered with Orthogonal, a socially conscious holding company with deep networks and industry knowledge in the cannabis market, and BlockchainSaw, a specialized blockchain development firm.
Together, they have formed a joint venture called Orthogonal Collective to solve the marijuana industry's most significant challenges with blockchain-based solutions as the $53.3 billion cannabis black market transitions into state regulations.
According to CoinSchedule, nearly 700 companies have had Initial Coin Offerings (ICO's) in 2018. While it's an exciting time to be in blockchain, it's also becoming harder to stand out. As many entrepreneurs know, companies that meet real market needs and boast talented and experienced leadership can't just rest on their laurels. To attract full funding and dedicated users, businesses need to market themselves-- a need can be even more pressing for cannabis-blockchain companies who must fight misconceptions about the medical benefits of legal marijuana use, and its regulatory status.
This is why companies like Verma have established strong presence by helping blockchain companies working in healthcare, real estate investment, global energy, secure payments, and next-generation organizational structures. Blockchain and cannabis are trailblazing through the entrepreneurial space. Whether you're involved in the industry or not every startup should be paying attention to the marketing path these business are forging.
Cannabis and blockchain are on the rise--here's how they are working to empower one and other.
Like blockchain, the cannabis industry has the potential to increase the standard of accountable and transparent transactions being made. A great example of this being done is Orthogonal Collective who grew ou the socially conscious roots of Orthogonal (the parent company). They plan to exclusively partner and invest in ancillary and non-ancillary cannabis companies that represent conscious capitalism.
Their business model mirrors Y Combinator's curated accelerator for startups with the multinational conglomerate holding company, Berkshire Hathaway. Firms such as Confident Cannabis, who bring transparency and safety to cannabis consumption, or Meadow, an all-in-one cannabis dispensary and medical marijuana delivery app, reflect Orthogonal interest in genuinely community-oriented, ethical cannabis investment.
This means that these hybrid companies aren't just changing how we market our business, but they are shifting the way in which we do business.
This is where blockchain technology comes in. It is key to providing high liquidity and low entry barriers for investors and network participants. The result is an egalitarian, community-oriented cannabis investment model where each token will represent a fractional ownership share in Orthogonal Collective. Token purchasers can hold onto the coin to reap Orthogonal Collective's long-term profits or sell the token on exchanges to access immediate liquidity.
It's vital that entrepreneurs pay attention to the way these disruptive industries are shifted the entrepreneurial landscape. Whether it's their product or their promise, these hybrid companies plan on changing the way the worlds see's and interacts with business.