The future of this industry is bright, and in fact, it is expected to grow exponentially in the next decade. It will replace the alcohol industry. It will make some pharmaceutical companies obsolete.
Cannabis is becoming legal across North America that means even more products are available to consumers. More research will be done on cannabis and how it can be used for medical purposes. Actually, according to a study, more than 60% of Americans want cannabis legalized on a national level.
Cannabis technology will change how we do things, shop, and order certain products. It will change how law enforcement operates in different cities, especially in states where cannabis has been legalized. Cannabis tech is already emerging, like Vaporizers, for example.
Vaporizing is better than smoking because it does not burn cannabis, making it purer and healthier. Vape pens can be used for essential oils as well, so you are getting your money’s worth either way.
Here are four cannabis industry trends that will be game-changers in the industry.
#1 – Bioengineering the Cannabis Plant to Create Customized Medicine For Patients
When you think of cannabis, you probably think about getting high, and that is it. However, it can be used for a variety of medical purposes as well. It has been proven to treat cancer, multiple sclerosis and much more.
Currently, patients have to smoke cannabis to gain the benefits from this medicine, but soon enough,you will see doctors prescribing patches or oral medications. You will also see modifications to the plant itself to increase its efficacy and decrease side effects for patients.
#2 – Cannabis asA Health Supplement
Since agriculture began, farmers have been cultivating cannabis on a large scale. One of the biggest problems was pests and diseases ruining their crops. Bioengineering has allowed cultivators to boost the plant’s natural resistance to pests without any side effects.
Applied genetics improves cannabis plants so farmers can produce more yields with less land, energy and water. It reduces strain on our environment while increasing their profit margins.
#3 – Cannabis Waste Will Be Converted To Energy
We use a lot of electricity in our homes and daily lives. Most of it comes from non-renewable resources, which are harmful to the environment. Cannabis waste produces a large amount of energy if appropriately converted to electricity.
Cannabis waste usually contains THC, CBD and other cannabinoids that are good for our health when consumed. We will convert cannabis waste into usable energy, so it does not end up in landfills and pollute our planet.
#4 – Cannabis Payments And Banking Solution Will Take Over The Industry
Currently, cannabis businesses have a massive financial problem because they cannot deposit money into any bank without being shut down. Since it is still federally illegal, banks will not accept deposits from cannabis companies even if it is legal in their state.
There are solutions to allow cannabis companies to deposit money into banks without being prosecuted. It will also enable cannabis dispensaries to accept credit card payments for the first time.
The future of cannabis technology is bright. It will be able to surpass expectations and help the industry grow exponentially in the coming years. It will have a considerable impact on various industries and affect our lives in so many ways.
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