Over the last ten years, the medical cannabis industry has exploded. The laws were relaxed and increasingly larger amounts of cities, states, and countries across the globe have taken a kinder stance on cannabis. Its medical applications and its role in everyday life for so many human beings across the globe. Governments of many countries can not deny the obvious advantages of medical cannabis. Hundreds of scientific researches have proven the positive effect of the plant on both mental and physical human health.
Also, let’s note that there is a common trend on eco-friendly and environmentally aware businesses right now. Even Bill Gates retired to fully devote himself to environmental problem-solving. The medical cannabis industry can be not only green-oriented but also make a positive impact on the planet. It is beneficial to any society to develop this industry. It is already a publicly recognized market that is projected to be a $22 billion industry by 2022.
This also presents a very large opportunity for us, GROW HOUSE as well as for Juicyfields, a recent partner of ours because the next step, the most important step will be a globally mutual viewpoint on cannabis, and medical cannabis more specifically. Once we as a whole species can come to some sort of way to regulate, and safely produce/distribute cannabis globally the more beneficial it will be. This is precisely why GROW aims to build itself into the medical cannabis industry as well as the blockchain industry.
There are few main reasons for the cannabis industry growth!
First of all the charts show that it is constantly growing right now. Despite the initial stock plummet, cannabis sales have hit all-time highs. For example in Canada, they reached $270 million in October 2020 when all the other markets were through their dips. The US cannabis industry alone is worth more than 60 billion dollars. And is expected to reach $92 billion — up more than 30% from last year. Moreover to overcome $160 billion in 2025. Ten years ago you couldn’t make any claim even remotely close to that. It will only continue to rise as cannabis and medical cannabis use become more and more common across the globe.
More and more countries are providing legalization. Also, the European cannabis market now is growing exponentially. At the end of 2020 European Union decided that CBD is no longer listed as narcotics. There is also another huge market to appear on the scene as Mexico is going to legalize recreational cannabis by court order. It is a new market with the potential to grow up to $2 billion.
However, if the opposite happens and massive regulation becomes an overbearing, unkind enemy to medical cannabis and cannabis in general then it could very well inhibit the growth of the industry for another 100+ years as it has previously, most notably in the United States over the past 75 years when tons of propaganda and hate rhetoric targeting cannabis as being pushed by every state and government official who would speak on it.
Cannabis became more demanded during COVID-19. People started to spend more time at home and go through stress and anxiety associated with the pandemic. More and more people are appealing to the recreational effects of CBD. Scientists proved that cannabis can help to beat depression, avoid panic attacks and to reduce pain. Also, it was proven that CBD can affect the recreational abilities of neurons and the effectiveness of new neural pathways creation.
Cannabis CBD products are getting popular. The medical cannabis market also becomes more diverse in types of products. There are a bunch of brand new products appearing. For example, edible products and oils are gaining traction. Flowers are getting new forms of consumption. It is now a new trend that oral products are perceived as a healthier alternative to smoking. Also, the cannabis compounds are appearing in products that are going to the mass market such as makeup, skincare, shampoo, which can be bought at every local store.
Cannabis can save our Earth. Go green, cannabis business! Hemp is one of the best crops for farmers to grow from an environmental point of view. As it grows quickly and helps remove toxins from the soil. Hemp is the world’s champion photosynthesizer. It converts the sun’s energy into biomass more efficiently than any other plant. Also, it can be used to create textile and paper which is more sustainable. So cannabis as a whole species has a lot of advantages for humanity.
Inevitably, once a global consensus has been reached the cannabis industry will explode with growth, resulting in a new industry’s rise to the top of the food chain, with no chance of being dethroned. Cannabis is a near-infinite resource due to its agricultural ease of cultivation. As long as we have dirt, as long as we have water and as long as we have seeds we can cultivate as much cannabis as need be. Cannabis will outpace almost any other industry at the top but this will require, again a global agreement or global consensus to have been come to.
Ultimately, we do not know exactly what will come, and how it will arrive but we can be as prepared as possible with hard facts, and educational truths to aid in promoting the safest, secure and pure parts of cannabis and its medical health benefits for the betterment of humanity.
Many indicators are showing the impetuous growth and expansion of the medical cannabis industry in the nearest future. The GROW team is happy to see the beginning of this process and bring the market of real-world medicine cannabis to the edge of innovations. Blockchain can significantly improve the maintenance of all stages of the growing process. Using these technologies, we can build a decentralized medicine cannabis empire, a real CANNAVERSE.
About Grow House:
Grow House is a decentralized cannabis NFT game that uses existing grower networks to create farming and rewards using proprietary blockchain technology. Built for the cannabis industry by medical professionals and crypto pioneers, Grow enables you to cultivate land, redeem NFTs, and build your brand in the cannaverse using $GROW.