By all accounts, America’s emerging cannabis industry is looking very promising and is shaping up to be the country’s biggest business experiment of the 21st century.
But the mushrooming niche sector could quickly prove to be the proverbial bull in a china shop, with contradicting state and federal laws, the resulting apprehension of banks to touch the industry’s abundance of money and the precarious lack of cohesion as dozens of states continue to rethink their laws on the substance.
While many entrepreneurs are eager to put business plans into action if and when legalization occurs in their state, “the patchwork nature of marijuana legalization on the local, state and federal level creates problems for buyers, sellers and users,” says Wall Street Commodities expert Steve Janjic, CEO of Amercanex, the first fully electronic marketplace exchange for the cannabis industry.
“We will soon hit the tipping point at which state after state will legalize cannabis like falling dominos.”
What is the best way to ensure a legal, fair and accountable business model for the young industry? The solution is a Wall Street-like model to allow the young industry to participate in exchanges to buy, sell or trade inventories in a fully-disclosed and transparent marketplace, he says.
Topics Cannabis
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