420 with CNW – FBI Data Shows Increased Marijuana Arrests in 2017

New data that has just been released by the U.S. Federal Bureau of Investigations (FBI) reveals that the marijuana arrests made in 2017 were more than those which were recorded in 2016. These statistics are surprising given the fact that, by the end of 2017, 28 states had legalized medical or recreational consumption of cannabis.

In total, 659,700 people were arrested on marijuana-related charges in 2017, while the figure for 2016 stood at 653,349 arrests.

The wave of cannabis legalization doesn’t seem to have had any impact upon the law enforcement community, especially at the federal level. This is creating a measure of confusion in the public, since daily dilemmas arise regarding the subject of cannabis.

An example of the confusion is the position of Los Angeles International Airport permitting travelers to carry marijuana while the federal transportation authorities at the same airport retain the right to detain anyone found in possession of cannabis.

The FBI data reflects the same mixed signals. For example, about 91 percent of all those arrests were for simple possession of cannabis. That is a high figure given that 20 percent of the American population lives in a state where some form of cannabis legalization exists.

To put this in context, someone was arrested somewhere in the U.S. for marijuana related issues every 48 seconds throughout 2017.

Activists are livid at these statistics, given that about 100 people die each day in the country due to opioid overdoses yet no death has been reported anywhere as a result of a cannabis overdose. Cannabis advocates wondered why the efforts and the meager resources of law enforcement agencies couldn’t be directed where the real danger lies.

To put this misallocation of resources differently, the FBI data shows that for each person who was arrested for murder there were 49 individuals arrested on a marijuana-related charge.

This overzealousness on the part of law enforcement flies counter to the growth in public opinion favoring the use of cannabis either for recreational or medical purposes. If the trend of arrests continues, voters may be compelled to pile pressure on their elected leaders to rein in the law enforcement arm of government, which seems oblivious to what is happening in the states where cannabis is legal. Global Payout, Inc. (OTC: GOHE) and FinCanna Capital Corp. (CSE: CALI) (OTCQB: FNNZF) must be wishing that the unclear regulatory climate around cannabis settles quickly so that the industry can shape up for the good of all concerned.

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CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – Coca-Cola May Make Marijuana-Infused Drinks

News coming in about the carbonated beverages giant Coca-Cola (NYSE: KO) shows that the company is seriously thinking about a new product line of “wellness” drinks that are infused with cannabidiol (CBD), one of the non-psychoactive ingredients in cannabis.

News of Coca-Cola’s interest emerged after it was revealed that the company was engaged in talks with Aurora Cannabis, Inc. about the possibility of partnering to make those wellness drinks.

Coca-Cola was itself cagey about the possibility of making the drinks, only saying that it was watching with keen interest the development of CBD in the rapidly evolving cannabis industry.

The proposed drinks would be formulated and marketed as “functional recovery drinks” intended to be mild painkillers capable of combatting inflammation, as well as cramping after workouts or heavy physical activity.

It isn’t surprising that Coca-Cola is moving in this direction. Sales of its carbonated soft drinks have been on the decline due to the public’s concerns about the health implications of those soft drinks, particularly as they relate to their high sugar content.

To stay afloat and remain relevant, Coca-Cola has ventured into alcoholic drinks, bottled water, coffee and other beverages. The cannabis-infused wellness drinks would be another addition to its growing product range.

The interest of Coca-Cola in the cannabis industry provides a boost to this controversial industry, which is now gaining more acceptance in regions where it was previously unacceptable. That such a large company is thinking about investing in the cannabis industry shows that the current wave of decriminalization is unlikely to slow down any time soon.

However, Coca-Cola and other companies eyeing the cannabis industry need to tread cautiously, since the U.S. still regards cannabis as a Schedule 1 substance.

It is therefore thought that Coca-Cola may initially make its cannabis drink for the Canadian market while the legal issues in the U.S. shape up. In this sense, Canada can be seen as a testing ground where companies that want to benefit from the growing interest in cannabis can experiment and build their brands while waiting for the large U.S. market to open up at the federal level.

While Coca-Cola claims that no firm decisions have been made about its involvement in the cannabis industry, its talks with Aurora Cannabis show that Coke’s interest isn’t just casual.

What remains to be seen is how soon those drinks will hit the market, and how they will be branded. It would be interesting to know what Global Payout, Inc. (OTC: GOHE) and Golden Developing Solutions, Inc. (OTC: DVLP) are thinking in light of the expected availability of recreational cannabis in Canada less than two weeks from now.

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Specific Therapeutic Benefits of Cannabidiol (CBD) Validated by FDA

CannabisNewsWire Editorial Coverage: In a landmark announcement, the U.S. Food and Drug Administration (FDA) recently approved a drug derived from pure cannabidiol (CBD), Epidiolex, to treat seizures associated with certain forms of severe epilepsy, setting the stage for huge changes in the world of cannabidiol (CBD).

FDA approval of a cannabis-based drug represents seismic political, legal and economic shifts
Approval likely will lead to more clinical research and further validation of CBD therapeutic efficacy
CBD market projected to explode to more than $2 billion in two years with 39 percent CAGR

What’s most transformative about this drug approval is that this is the first time the FDA — the governmental arbiter of safe and effective medicine in the United States — has approved any substance derived from the cannabis sativa plant and validated certain therapeutic benefits of cannabidiol. The FDA is, to some extent, endorsing what has been anecdotally accepted by the masses for millennia.

CBD, a non-psychoactive cannabinoid that can be extracted from the industrial hemp plant, is understandably generating worldwide interest from both the scientific and investment communities. A large part of CBD’s mass appeal is that it’s believed to aid with a broad range of wellness concerns. CBD is known to interact with the human endocannabinoid system, which is found throughout the body’s nervous system, organs, connective tissues, glands and immune system. Research indicates CBD may have the potential to treat a wide range of conditions such as anxiety, high blood pressure, skin issues and chronic pain. It’s being researched to treat Alzheimer’s, and one study even suggests CBD might be a useful addition when given with conventional antipsychotic medications in the treatment of schizophrenia.

Continued rigorous clinical research is being conducted to further confirm all the potential therapeutic benefits that may be found in this cannabinoid extract. In the meantime, the mass appeal of CBD remains unabated, and the market for CBD products continues to grow at an astounding rate. Committed to the legal hemp-derived CBD market, Marijuana Company of America, Inc. (OTC: MCOA) (MCOA Profile) provides consumers with pure, hemp plant-based CBD nutritional products through its global hempSMART™ brand and has initiated broad-ranging, innovative cultivation programs for legal, high-quality hemp. Others vying for position in the burgeoning CBD space include Isodiol International, Inc. (CSE: ISOL) (OTC: ISOLF) (FSE: LB6A.F), CV Sciences, Inc. (OTC: CVSI), PotNetwork Holdings, Inc. (OTC: POTN) and Medical Marijuana, Inc. (OTC: MJNA).

The Boom Has Just Begun

Three years ago, in 2015, the hemp-derived CBD market racked up $90 million in sales. Last year that number reached $190 million in sales — and the boom has just begun. The Hemp Business Journal projects $2.1 billion in total CBD sales by 2020 and estimates that $450 million of that will come from hemp-based sources. The explosive demand projections are attributed to an increased public awareness of the wide-ranging potential health benefits of hemp CBD oil and advancements in cultivation, plus the convenience and reach of online retailing — all of which contribute to a global CBD oil market expected to grow at an eye-popping CAGR of 39.19 percent through 2021.

Hemp Focus

With an overarching focus on the cultivation, development and distribution of legal industrial hemp-derived products, Marijuana Company of America (OTC: MCOA) aims to capture an outsized share of growing worldwide demand. Pure hemp-based consumer nutritional products are at the core of this demand, and the company has developed a portfolio of ancillary hemp-centric businesses to vertically integrate hemp production and sales. Cultivation of high-quality hemp from portfolio companies feeds MCOA’s proprietary CBD-based formulations, dovetailing to produce the finest quality nutritional supplements on the market.

The unique company vision emanates from Donald Steinberg, MCOA’s CEO. A cannabis industry pioneer, he founded the first cannabinoid-centric company to trade on a U.S. stock market. His vast knowledge and industry experience give MCOA unparalleled insights into the machinations of the CBD markets and the vision to capitalize on industry opportunities in a market projected to exceed $2 billion in the coming years. In keeping with this ambitious strategy, Steinberg and his partner, Charlie Larsen, formed Marijuana Company of America as well its sister company, Canadian-based Global Hemp Group, Inc. (OTC: GBHPF), which is focused on the legal cultivation and processing of industrial hemp. MCOA continues to build an impressive portfolio of synergistic companies across the hemp spectrum. From farm to finished products, MCOA’s socially conscious strategy is to capitalize at each profit point and establish a significant footprint at multiple inflection points across the entire hemp value chain.

Hemp-Based Nutritionals

MCOA has worked to create a recognized and respected hempSMART product line that contains levels of clinically researched ingredients designed to exceed consumer expectations and support the body’s natural endocannabinoid system. To serve health-conscious consumers, hempSMART includes an array of proprietary nutritional products.

hempSMART Brain is a patent-pending formulation designed for optimal brain function support.
hempSMART Drops offer the highest concentration and potency of full-spectrum bioavailable CBD.
hempSMART Pain Capsules contain a blend of premium CBD and botanical supplements.
hempSMART Pain Cream is a proprietary formulation for relief from muscle and joint pain.
hempSMART Full Spectrum Pet Drops is a unique nutritional supplement designed for furry family members.
hempSMART Face is a topical face moisturizer that combines CBD oil with ayurvedic herbs and botanicals.

MCOA’s hempSMART goes through an exacting CO2 extraction process to ensure the highest quality in the company’s natural wellness product line. By combining these pure industrial hemp-based cannabinoids with some of nature’s most effective wellness ingredients, MCOA’s hempSMART products are poised to deliver optimally formulated wellness products to health-conscious consumers.

In a forward-thinking plan to expand retail distribution and capitalize on impulse buys in high-traffic stores, MCOA took a 25 percent equity stake in BeniHemp-branded CBD products. BeniHemp health-focused products include topicals, tinctures and edibles packaged in one-day, two-day and thirty-day supplies widely distributed to convenience stores, smoke shops, gas stations and small retail outlets.

A Growing Portfolio

In addition to the hempSMART and BeniHemp consumer products lines, MCOA continues to strategically assemble synergistic portfolio companies. In a joint venture with sister company Global Hemp Group, MCOA launched a 125-acre industrial hemp cultivation project in northeast New Brunswick, Canada. The project targets the promotion of hemp farming while providing year-round jobs in crop and finished product processing.

Also in conjunction with Global Hemp Group, MCOA is developing Covered Bridge Acres, an innovative high-yielding CBD hemp cultivation project in Oregon. The project utilizes both traditional outdoor cultivation and what will ultimately become more than 19,000 square feet of indoor greenhouses, which are slated to eventually supply the raw oil needed for the hempSMART CBD product line.

MCOA also took a 15 percent equity stake in MoneyTrac Technology, Inc., a subsidiary of Global Payout, Inc. (OTC: GOHE). MCOA made this investment to help establish and market MoneyTrac Technology as an alternative banking solution for the cannabis industry.

Others Vying for Position

Isodiol International, Inc. (CSE: ISOL) (OTC: ISOLF) (FSE: LB6A.F) grows and harvests hemp on an industrial scale then processes it to extract the cannabidiol for distribution. The company commercializes pharmaceutical-grade cannabinoids, micro-encapsulations and nanotechnology for consumable and topical skin care products. Isodiol has announced plans to develop additional over-the-counter and pharmaceutical drugs, expand its phytoceutical portfolio and expand into Latin America, Asia and Europe.

CV Sciences, Inc. (OTCQB: CVSI) operates in two business segments. The company’s drug development division develops and commercializes novel therapeutics utilizing synthetic CBD. Its consumer product division manufactures, markets and sells plant-based CBD products to a range of market sectors. The company is also developing and pursuing FDA approval for drugs with specific indications utilizing cannabidiol as the active pharmaceutical ingredient.

Founded by MCOA CEO Donald Steinberg in 2009, Medical Marijuana, Inc. (OTC: MJNA) was the first U.S.-traded CBD company. The company develops, distributes and sells hemp oil that contains naturally occurring cannabinoids, including CBD. The company sells its hemp-derived CBD products through a variety of distribution subsidiaries. The company was among the first to bring hemp-based CBD oil products to market in the United States and the first to receive federal government import approvals in Mexico, Paraguay and Brazil.

PotNetwork Holdings, Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co.; Diamond CBD, Inc.; and Sunrise Auto Mall, Inc. Diamond CBD focuses on the research, development and multinational marketing of hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD’s team consists of hemp industry professionals, chemists, doctors and scientists — all working together to produce CBD oils.

Seismic Shift

Modern science has begun to substantiate both the anecdotal history and the therapeutic efficacy of cannabidiol. The FDA’s recent approval of a cannabis-based drug represents a seismic shift and is further indication of the enormous curative potential that may be found in CBD. As more scientific validations ensue, the market for CBD products could easily exceed expectations, and well-positioned companies in the space could outperform the market.

For more information on Marijuana Company of America, visit Marijuana Company of America, Inc. (OTC: MCOA)

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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Opportunities for Growth Found in Burgeoning Cannabis Industry

CannabisNewsWire Editorial Coverage: The legalization of cannabis for recreational use in Canada appears to be certain by the end of summer. The legislation to begin that process was passed by the government in late 2017 and passed a second reading in the country’s Senate in March 2018; the final vote is scheduled for June of this year, and the passage appears all but certain. Approval of the law — along with the fact that recreational cannabis is already legal in nine U.S. states — will spark an industry that forecasts indicate may reach as high as $12B in North America (http://cnw.fm/Fem3T), an irresistible opportunity for companies in all areas of the cannabis industry, as well as for companies looking for new ways to grow. Among the companies positioning themselves to be top contenders in this potentially incredibly lucrative area are Global Payout, Inc. (GOHE) (GOHE Profile), Kush Bottles, Inc. (OTCQB: KSHB), General Cannabis Corporation (OTCQB: CANN), MassRoots Retail (OTC: MSRT), and Growlife, Inc. (OTCQB: PHOT).

Smart Companies Looking to Enter the Market

Cannabis as a growing market can’t be ignored, and smart companies are eager to identify ways to enter the market — even if they don’t grow or sell marijuana. These companies are taking advantage of innovative opportunities ranging from payment solutions, accessories, technology, medicine and more. Global Payout, Inc. (OTC: GOHE) has become a leader in providing cannabis companies with support in many different areas.

One of Global Payout’s most recent forays into the industry is its involvement — through partner MoneyTrac Technology (MTRAC) — with PotSaver, a southern California-based community magazine that provides information about discounted cannabis-related products for local dispensaries and shops. Moving forward, MTRAC will provide Pot Saver with fundamental support and guidance needed to execute its strategy (http://cnw.fm/8WqxF).

“With the medical and recreational cannabis industry growing at an unprecedented rate in California, we are determined to be conscious of the multiple opportunities that currently exist, or that we can create for MoneyTrac to further expand its brand throughout the industry as well as tap into every available revenue source possible,” said MTRAC COO Vanessa Luna. “This agreement with Pot Saver is an excellent opportunity for us to offer the industry-specific business development expertise we have acquired to help further PotSaver’s go-to-market strategy, while simultaneously creating a new source of revenue for our company as we continue to expand our own brand throughout the industry.”

Subscription Model Designed for Readers

Most recently, the PotSaver brand is expanding its sales and marketing efforts for MoneyTrac’s signature magazine publication by launching a subscription-based model (http://cnw.fm/B9gV4). This move provides subscribers with an electronic version of the publication emailed to them monthly. In addition, PotSaver has ramped up its social media efforts in an effort to grow its subscriber base and expand its presence in San Diego County.

In just one weekend, the PotSaver sales and marketing team acquired close to 1,000 new subscribers for its publication, which is distributed monthly to a variety of newsstand locations throughout San Diego. In the coming year, the company plans to focus on building a substantial subscriber list and moving away from its hard copy newsstand distribution model.

This move also allows PotSaver to provide much more targeting messaging and information. It also provides the company with more detailed information related to its subscribers, which will allow the publication to deliver an experience that is tailored more effectively to its readers.

“The launch of a subscription-based model truly represents the natural evolution of PotSaver,” said Aaron Adler, PotSaver founder. “We recognize we are in a market that is very much driven by a millennial population that demands convenience, and through a subscription they can now receive PotSaver every month right on their phone, tablet, or computer. The subscription-based model also creates an opportunity to target consumers in a more effective manner by leveraging geographic information to present them with a publication that offers them discounts closer to home, and more in line with their needs.”

An Alternative Finance Option

In addition to its involvement with PotSaver, Global Payout and MTRAC continue to lead the way in providing financial services for cannabis companies. Though the use and sale of medical marijuana is legal in 29 states (http://cnw.fm/c6Drq), federal legislation remains the same as when cannabis was included as part of the government’s intense war on drugs. Consequently, most financial institutions refuse to provide services to cannabis companies for fear of prosecution.

This means that cannabis merchants have been forced to work in a cash-only economy, creating both inefficiencies and higher risks of fraud, theft and accounting errors. As a result, cannabis companies have been searching for alternative payment methods. Global Payout and MoneyTrac technology are moving to provide that service.

A technology and business development company whose motto is “Key to Cashless™,” MoneyTrac works to provide an alternative to the more traditional banking and electronic finance options. In order to do so, MoneyTrac has leveraged blockchain technology, the leading way of transferring value outside of the mainstream banking sector. Blockchain is a distributed ledger system — a form of data keeping where responsibility for the record is shared across a network rather than kept in one place.

Blockchain payments offer cannabis companies numerous advantages. Any customer can access blockchain system, regardless of whether they have a bank account. Money transactions are made without any involvement with banks, which are wary about involvement in cannabis. Payments are almost instantaneous, and because transactions are recorded over a distributed network, no controllers are creating bottlenecks or the risk of a single point of failure.

MoneyTrac’s MTRAC payment system is powered by GreenBox blockchain technology (http://cnw.fm/GVSh6) and provides cannabis companies with a payment system that includes electronic payments, decreasing the risks and inefficiencies of working with cash. Customers can load a card or digital wallet at a MoneyTrac kiosk. Though currently focused on the cannabis market, this option may benefit other companies in high-risk sectors or that are searching for ways to benefit from blockchain.

An Intricate Knowledge of the Industry

MoneyTrac provides other support services for cannabis businesses as well. Many cannabis retailers are new to the industry and are exploring ways to best position themselves. Effective sales and marketing is always difficult for any business, but in a sector that is as heavily regulated as cannabis, it can be especially challenging.

The MoneyTrac team has garnered years of knowledge and experience in business development and can provide invaluable advice and support as team members guide clients through the challenges and opportunities that come with starting and running profitable businesses. Developed through strategic partnerships across the financial sector, MoneyTrac professionals possess an intricate knowledge of the cannabis industry and can ensure their clients are in regulatory compliance.

Cannabis Companies Vying for Position

Other companies are eager to provide ancillary goods and services in the cannabis world as they jockey for position in what looks to be one of the most financially rewarding opportunities of the year.

Headquartered in Santa Ana, California, Kush Bottles, Inc. (OTCQB: KSHB) sells packaging, containers, and other ancillary products for the cannabis industry. The company helps entrepreneurs entering the cannabis industry overcome barriers to entry. Kush Bottles is a one-stop shop for any business looking to operate responsibly and build its brand. Most recently, the company entered into a merger agreement to acquire Summit Innovations, a leading distributor of hydrocarbons to the legal cannabis industry (http://cnw.fm/uN0Un). Hydrocarbon gases are used to turn cannabis plants into oils, and this acquisition marks Kush Bottles’ entry into a new business vertical supplying gas to cannabis extractors.

General Cannabis Corporation (OTCQB: CANN) is a trusted partner in the cultivation, production and retail side of the cannabis business. The company operates a combination of strong operating divisions such as real estate, consulting, security, financing and the distribution of important infrastructure products to grow facilities and dispensaries. Just last month one of General Cannabis’s companies, Chiefton Supply Co., signed a distribution deal to supply national action sports retailer Tillys with its first hemp apparel brand (http://cnw.fm/31wBc). An exclusive run of Chiefton’s spring line of men’s T-shirts will be available in Tillys retail locations across the country, as well as purchase online.

MassRoots Retail (OTC: MSRT) is one of the leading technology platforms for the cannabis industry. The company’s social platform is one of the largest communities of cannabis enthusiasts. Powered by more than one million registered users, MassRoots enables consumers to rate products and strains based on their efficacymand then presents this information in easy-to-use formats for consumers to make educated purchasing decisions at their local dispensary. Businesses are able to leverage MassRoots also provides a way for businesses to strategically advertise to consumers based on their preferences and tendencies.

Growlife, Inc. (OTCQB: PHOT) is a nationally recognized cultivation brand, providing world-class hydroponic equipment, lighting, nutrients, media, and other cultivation supplies to commercial and urban operations. Earlier this year, Growlife announced the launch of a new line of sustainable eco-friendly products for the indoor cultivation market (http://cnw.fm/KFa6T). These new products will allow GrowLife’s customers to play a role in providing a greener economic footprint compared to traditional indoor cultivation methods while remaining efficient on output and profitability.

Many companies are clearly eager to identify new ways to be part of the burgeoning cannabis industry—an industry set to explode within the coming months as the journey to legalization marches around the world.

For more information about Global Payout, Inc., please visit: Global Payout, Inc. (GOHE).

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Subsidiary Industries Prepare for Growing Cannabis Market

CannabisNewsWire Editorial Coverage: Impending legislation in Canada is the most recent step in the spread of legal cannabis consumption. As the industry grows, so do the support businesses supplying related services for retailers and consumers. Global Payout, Inc. (GOHE) (GOHE profile) is providing payment systems and business support through its MoneyTrac partnership. MassRoots Retail (OTC: MSRT) is using blockchain to provide a review aggregator and dispensary finder. GB Sciences, Inc. (OTCQB: GBLX) is working in research and design, focusing its efforts on growing more effective strains and exploring better delivery systems. Lexaria Bioscience Corporation (CSE: LXX) (OTCQX: LXRP) is also improving delivery systems through research aimed at improving the effectiveness of orally consumed cannabinoids. And for the cannabis-focused consumer, General Cannabis Corporation (OTCQB: CANN) has set up Chiefton Supply Co, a clothing brand catering to the growing cannabis culture.

Across the board, the cannabis industry is becoming a more diverse and interesting place.

The Broader Potential of Recreational Cannabis

After many months of political maneuvering, this summer will see the legalization of cannabis for recreational use in Canada. It’s a huge step, even in a country where medical cannabis is already widely available. The expanded Canadian cannabis market is expected to be worth between $10 and $20 billion with many companies preparing to take a chunk of the supply and retail business.

That vast market won’t just consist of cannabis growers and retailers. Many other businesses are looking for entry points into the cannabis industry, whether it’s through payment solutions, accessories, technology, or any of the other products and services that businesses and consumers will be looking for. Businesses who get in now won’t just profit from what’s going on in Canada. Dozens of states and the District of Columbia currently have laws broadly legalizing marijuana in some form, and legalization is spreading. The global medical cannabis market alone is expected to reach $55.8 billion by 2025 (http://cnw.fm/2EjPt), so there is a potential for tremendous growth for early cannabis support businesses.

Secure, Straightforward System

Any retail business needs a secure, straightforward system for taking payments. That system needs to be adapted to their particular needs, whether it’s portability for market stalls or strict security for high price transactions. Global Payout, Inc. (GOHE) is providing payment solutions adapted to the special needs of the cannabis market.

The outlet for this project is MoneyTrac Technology, a Global Payout partner. In collaboration with Greenbox, another partner company, MoneyTrac has launched a payment system specifically geared towards the cannabis market, which will make payments easier and more secure.

The need for such a solution stems from the legal status of cannabis in the United States, currently one of the largest legal cannabis markets. Though cannabis is legal for recreational use in six states and for medical use in over twenty more, it is still covered by antidrug legislation at the federal level. U.S. banks are wary of providing payment services to any cannabis company, even a legally recognized one, in case they come under scrutiny for providing finances to support illegal endeavours.

This situation has created unnecessary risks for cannabis merchants because they have had to work on a cash basis, which can create inefficiencies and increase the risk of theft or fraud. Any group that can offer a way out of this trap could draw business from across the states because cannabis vendors know that a better payment system will more than pay for itself.

The Cutting Edge of Technology

A technology and business development company whose motto is “Key to Cashless™,” MoneyTrac is providing a payment solution for cannabis and other high-risk business areas. MoneyTrac is achieving this by using one of the hottest new technologies of the past few years — blockchain computing.

Blockchain is a distributed ledger system in which electronic records are kept over an open network of participants rather than centralized in a single place. Its most famous use is as the foundational technology behind bitcoin and other cryptocurrencies. But it can also be used for other purposes, including supply chain management and smart contracts that automatically deliver their payments on completion.

Through cryptocurrencies, blockchain has allowed payments to take place outside of the conventional banking system. The creators of the technology intended this to remove the stranglehold of banks and governments on personal finance, thereby improving the efficiency and freedom of financial networks. For the cannabis industry, it means a way of making electronic payments without banks being involved, thus escaping cash-based transactions.

In early April 2018, MoneyTrac launched its blockchain payment system, MTRAC. It provides a payment system in which customers put their money in at one end and retailers are able to extract it at the other end. Customers simply charge up a digital wallet at an MTRAC kiosk or load it from their linked bank account or credit card, then use the money to pay for goods at any vendor using the scheme. In fact, the app can be used to generate a digital Visa or MasterCard gift card that can be used at any retailer that accepts those forms of payment. Banks don’t even need to be involved in the cannabis-buying process.

MoneyTrac’s system provides greater security for cannabis businesses and customers. It can also be used to increase business efficiency through the addition of inventory management, payment processing, and seed-to-sale tracking. For customers, it provides a secure, simple way to pay. For merchants, it is a complete way of tracking the flow of goods and money, increasing efficiency through clear, secure, integrated record keeping.

Wide Support Services

In developing an integrated payment solution, MoneyTrac has gained deep insight into the cannabis industry and how it works. It has also developed a team of employees and a network of contacts that allow it to provide wider support services.

The services MoneyTrac offers to clients include business development, sales and marketing, and guidance on compliance. With so many regulations in place around both cannabis and finance, it’s important for those running a cannabis business to understand and strictly adhere to the rules governing them. MoneyTrac can help in this complex area.

These extra services aren’t just a way to make additional income. They help ensure the long-term viability of the MTRAC payment system. If the companies using the systems are well supported, they are more likely to come out on top of the growing cannabis market, making MoneyTrac’s payment solution a crucial part of the industry.

Backed up by the extensive finance and payment experience of the Global Payout team, MoneyTrac offers a secure, efficient payment system for the cannabis sector. By adding other software and services, it is carving out a niche as an important support system in this growing industry.

A Complete Economic Ecosystem

Like so many sectors, cannabis is developing a broader economic ecosystem. A range of companies are stepping up to provide additional products and services related to cannabis.

Like Global Payout, MassRoots Retail (OTC: MSRT) is exploring the potential of blockchain. The company uses blockchain technology to power features in its business portal. The company provides a central hub for reviews of cannabis products and strains, as well as a dispensary finder. These are available through a phone app, making it easier for customers to find the right product and dispensary for them. MassRoots recently revamped the system to introduce new features and incentivize reviews.

Research and development are among the most important support services for the cannabis market. Legalization is making it easier for research to be carried out and the effects of cannabis to be understood. GB Sciences, Inc. (OTCQB: GBLX) works on this side of the market, developing refined cannabis strains that provide a better proportion of active ingredients. It is working with the University of Seville to bring a new time-released cannabinoid formulation to market. As the market grows, so will research into strains, delivery systems and new medical uses, providing more business for companies such as GB Sciences.

Lexaria Bioscience Corporation (CSE: LXX) (OTCQX: LXRP) is another of the companies focused on cannabis research. Its particular focus is on improving the effectiveness and flavor of orally consumed cannabinoids, for which work it has a partnership with the Canadian government’s National Research Council. Oral consumption has great potential to deliver the medical benefits of cannabis without the harmful effects of smoking, and so could be important in unleashing cannabis’s medical potential. With Lexaria’s out-licensing business model, this beneficial technology could be used by many companies, while boosting Lexaria’s research and profits.

General Cannabis Corporation (OTCQB: CANN) is providing a different sort of subsidiary business through Chiefton Supply Co. clothing brand. As cannabis culture spreads and becomes above board, the company is providing distinct, stylish clothes to go with a cannabis-influenced lifestyle. A recently announced distribution deal (http://cnw.fm/LcFR9) with national retailer Tilly’s will see the company reach a wide market.

As cannabis becomes more accessible, companies are finding a wide range of ways to profit from subsidiary services. From T-shirts to payment processing, services for this sector offer incredible potential for business growth and development.

For more information on Global Payout, Inc., please visit Global Payout, Inc. (GOHE).

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Cannabis Industry Keeps Making Steps Forward

CannabisNewsWire Editorial Coverage: As legalization spreads, the cannabis industry is achieving a new level of maturity, with a wide range of products and support services. Global Payout, Inc. (OTC: GOHE) (GOHE Profile) is providing payment and consulting services for cannabis companies facing the unique challenges of their sector. Terra Tech Corp. (OTC: TRTC) has developed sustainable farming methods that lead to better yields and lower costs. Surna, Inc. (OTCQB: SRNA) specializes in providing components for growing facilities and advice on how to set them up. Meanwhile, Medical Marijuana, Inc. (OTC: MJNA) and GB Sciences, Inc. (OTCQB: GBLX) are both deploying new techniques to create innovative products for an ever more diverse market.

A Maturing Industry

The legal cannabis industry continues to be one of the fastest growing areas of North America’s economy. The legalization of medical cannabis in Canada and many American states has fostered a thriving medical cannabis industry over the past decade, consisting of everything from pharmaceutical companies to retail specialists. With recreational use now legal in several states and coming to Canada this summer, the industry is set to blossom further. Some estimates state that the Canadian cannabis sector alone could be worth over $20 billion within a few years.

With time and growth, the industry is maturing into something complex and varied. Companies are researching and marketing new goods, from vaporizing oils to soft drinks to community magazines. Other companies are specializing in providing support services to the industry. Whether it’s in finance, marketing, logistics or any of the other services a business needs, cannabis companies face their own unique challenges. A more mature sector is finding ways to adapt these to its specialist needs.

Cash and Cannabis

Global Payout, Inc. (OTC: GOHE) is helping to provide cannabis companies with support in one of the most challenging areas — payment.

Access to financial services has always been difficult for cannabis companies. Though the use and sale of the drug is legal in many states, federal legislation remains the same as when cannabis was targeted as part of the war on drugs. This created a fear of prosecution for banks if they provided financial services to cannabis companies.

From the start, cannabis merchants have found themselves working in a cash economy. This has created inefficiencies and greater than normal risks of fraud, theft and accounting errors. From 2013 to 2017, the Department of Justice’s Operation Chokepoint made this even more difficult, as the government investigated banks that dealt with high-risk sectors for fraud or money laundering.

As a result, cannabis companies have been left in need of alternative payment methods. Global Payout and its partner, MoneyTrac technology, are moving to provide that service.

Global Payout is a provider of financial services solutions with experience in more mainstream industries. Its Global Reserve Platform (GRP) provides an all-in-one system for companies to make payments and money transfers in an international market. The system connects all aspects of a business’s financial operations, from FOREX to prepaid debit cards. Customizable to the needs of different businesses, it provides a complete and flexible end-to-end finance system.

Given the unique circumstances of the cannabis industry, simply adopting this banking-in-a-box system wasn’t going to provide the solution. Therefore, it’s a new product, created by a Global Payout partner, that is allowing the company to apply its expertise to the sector.

New Technology for a New Problem

Global Payout’s solution for the cannabis sector comes from its former subsidiary, MoneyTrac Technology. A technology and business development company whose motto is “Key to Cashless™,” MoneyTrac is focused on providing alternative options for banking and electronic finance.

In its quest to offer payment solutions to the cannabis industry, MoneyTrac has turned to blockchain technology. Blockchain is a distributed ledger system — a form of data keeping where responsibility for the record is shared across a network rather than kept in one place. It’s the technology behind cryptocurrencies such as bitcoin. Through cryptocurrencies, blockchain has become the leading way of transferring value outside of the mainstream banking sector.

Blockchain payments offer cannabis companies several advantages. Such systems can be accessed by any customer, regardless of whether they themselves have a bank account. The money transfers happen away from the banks, which are wary about involvement in cannabis. Payments are nearly instantaneous, and because records are kept over a distributed network, there are no controllers creating bottlenecks or the risk of a single point of failure.

Launched in early April, MoneyTrac’s MTRAC payment system is powered by GreenBox blockchain technology (http://cnw.fm/GVSh6) and provides a payment system through which cannabis companies can take electronic payments, distancing themselves from the risks and inefficiencies of working with cash. Any customer can use a MoneyTrac kiosk to load up a card or digital wallet, which they can then use to pay for goods and services. Though currently focused on the cannabis market, this option may benefit other companies in high-risk sectors or that want to benefit from the potential of blockchain.

Support Services for a Growing Industry

In addition to financial solutions, MoneyTrac provides a range of support services for cannabis businesses.

Many cannabis retailers are new businesses looking to expand their scope and expertise. The MoneyTrac team have years of knowledge and experience in business development, allowing them to provide advice and support. They can guide clients through the challenges that come with starting and running profitable businesses.

Effective sales and marketing is a challenge for any business, but it can be even more difficult when that business is in a heavily regulated sector such as cannabis. MoneyTrac provides expertise in this area.

Regulatory compliance is a specialist area of knowledge in its own right. Working within the cannabis industry, MoneyTrac professionals have deep knowledge of this area, developed through strategic partnerships across the financial sector. The MoneyTrac team is therefore able to help clients ensure that they meet the legal requirements of their businesses.

Though such support services are already available for most businesses, they all come with their own unique twists where cannabis is concerned. It’s a sign of the growing maturity of the sector — and of its need for specialist expertise — that it can support a company supplying these services. And as the sector grows, so will the businesses providing these vital services.

A Variety of Products and Services

The need for specialist cannabis products has led to the emergence of a number of companies providing ancillary goods and services, as well as specialist products from within cannabis companies.

Terra Tech Corp. (OTC: TRTC) has been developing superior, sustainable farming methods for cannabis. Its moving table hydroponic system increases harvest yields by up to 30% and reduces operational costs by up to 50%. By developing and supplying advanced horticultural equipment, the company is bringing forward the techniques and technology of cannabis cultivation. Thanks to its energy efficient systems and waste water recycling, Terra Tech is ensuring that cannabis growing meets the green credentials many customers look for. Together, these achievements led to record revenues for the company in 2017 (http://cnw.fm/OtFT9).

Surna, Inc. (OTCQB: SRNA) also works to provide better cannabis cultivation. The company manufactures components for cultivation facilities, including climate control, lighting and biosecurity. It also provides the support services needed to make the most of these products. Surna specialists have engineering and installation skills to help clients get their facilities smoothly up and running. Company consultants review floor plans and facility designs, as well as offer guidance on industry standards and best practices. It’s the sort of vital, practical advice that may help get growers off the ground.

The first publicly traded cannabis company in the United States, Medical Marijuana, Inc. (OTC: MJNA) is a leader in medical cannabis sales across the Americas. Selling to countries including the United States, Mexico and Brazil, it is showing the potential for international growth. The company’s expertise lies in research as well as sales, with the development of proprietary techniques (http://cnw.fm/4ueX9) to extra cannabinoid molecules. These techniques are being used to develop a range of products, including hemp-based protein shakes and pet products. Such techniques and products are helping the cannabis industry reach new markets and customers, increasing profits along the way.

GB Sciences, Inc. (OTCQB: GBLX) is also focused on the medical potential of cannabis, while making the most of the opportunities in newly legal recreational markets. The company has developed some of the best cannabis strains in Nevada, identified as such because of their active ingredients. GB Sciences has also obtained an exclusive worldwide license to use a time-released cannabinoid formulation from the University of Seville, bringing a previously unused approach into the American market.

With companies developing new strains and techniques for using cannabis, the cannabis industry has an increasingly diverse range of products. This is supported by a growing range of support services, with companies providing everything from payment solutions to engineering advice, all geared toward cannabis. It’s a reflection of how fast the industry has matured that all this is happening even as the battle for legalization continues around the world.

For more information on Global Payout, Inc., please visit: Global Payout, Inc. (GOHE).

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Cannabis Industry Leads the Way in Payments Revolution

CannabisNewsWire Editorial Coverage: Financial services are undergoing a period of change as high-risk businesses, often excluded from conventional banking systems, search for alternative ways to process payments. Companies such as Global Payout, Inc. (OTC: GOHE) (GOHE Profile) are providing payment systems for high-risk ventures such as the cannabis industry, saving vendors from the need to operate exclusively on cash. SinglePoint, Inc. (OTCQB: SING) is also working in this sector, while bringing bitcoin payments into the mainstream. MassRoots, Inc. (OTCQB: MSRT) is moving from the cannabis sector into payment processing, adapting its expertise in cannabis tech solutions to provide financial services. Cannabis grower iAnthus Capital Holdings, Inc. (OTCQB: ITHUF) is looking at the wider set of managerial and service solutions that high-risk companies need, and smartphone payment provider Glance Technologies, Inc. (OTCQB: GLNNF) is also moving into the sector through an investment in cannabis sector intelligence and analysis.

The Payment Problem

Recent years have seen high-risk industries facing increasingly tough times in accessing banking and payment services. In the United States, the government-backed Operation Chokepoint discouraged banks from providing services to industries with a high risk of fraud, such as gun sellers and payday lenders. Meanwhile, federal legislation from the war on drugs hampers finance for cannabis businesses in states where the drug has been legalized. Despite the repeal of Operation Chokepoint (http://cnw.fm/Nof7L), the threat of government scrutiny still limits the willingness of banks to provide financial services to these businesses. Even in Canada, which is due to legalize recreational cannabis this summer, banks are only now making tentative steps toward supporting the industry (http://cnw.fm/mE49s)

The cannabis industry is leading the way in finding solutions to this problem. As marijuana legalization spreads across the United States and beyond, a growing industry needs basic financial services; the alternative is to continue in a cash-based economy with the associated risks of fraud, error and theft. Businesses are stepping in to fill the need.

Financial Solutions for a Changing World

Global Payout, Inc. (OTC: GOHE) is among the companies providing solutions for high-risk businesses. Global Payout started out as an innovative supplier of financial services to mainstream businesses. In an increasingly complex world of international transactions, managing finances can be a complicated and messy job. Web-based applications offer a potential solution, but the wide variety of financial transactions has created challenging complications.

The solution provided by Global Payout is the Global Reserve Platform (GRP). A banking-in-a-box system, GRP provides a fully customizable financial system that allows businesses to handle the full range of financial transactions in one place. From managing government benefits to making biometric payments, the system offers everything a business needs. Additionally, because the setup can be adapted to the needs of different companies, it doesn’t force companies to accept a one-size-fits-all solution.

GRP is geared toward bridging divides between conventional banking and the businesses it serves. Global Payout has dealt with the practicalities of providing payment solutions in the mainstream, and, now, the company is applying its knowledge and expertise to the more challenging world of high-risk business.

Catering to the Cannabis Market

The company’s foray into this area is being led by its partner, MoneyTrac Technology, Inc. MoneyTrac is specifically geared toward serving the cannabis industry in the United States and beyond.

Because of its particular legal challenges, both internationally and within the United States, the cannabis industry may be the most in need of unconventional banking solutions. In many cases, cannabis businesses can’t access normal banking solutions as part of their daily work, making it difficult to manage payments from customers. This industry, therefore, may be the perfect sector in which to test alternative payment solutions.

Much like Global Payout, MoneyTrac provides a customizable web-based payment system. Powered by blockchain technology, the system provides fast, secure payment options that plug into conventional banking systems at either end, making it easy for customers to pay into the system and for businesses to extract their funds. This high-tech banking solution — MTRAC — was launched on April 4 (http://cnw.fm/st6rB), providing a solution for a sector in need.

“The goal of MTRAC from the beginning has been to leverage the different technologies available to us to remove the use of cash as the primary form of payment throughout the cannabis industry,” MoneyTrac CEO Vanessa Luna stated in a news release. “While other companies have struggled to find supportive financial solutions, MTRAC opted to take a different approach, and one that has relied heavily on the use of blockchain technology to address this problem for a massive and growing industry.”

By providing a payment system for the cannabis industry, MoneyTrac is fulfilling its “Key to Cashless™” objective. This has been achieved through partnerships with a range of companies in the cannabis and technology sectors, including Integrated Compliance Solutions, Crypto Value Management Systems (http://cnw.fm/K8xYY) and Greenbox (http://cnw.fm/DOv0r). By bringing together the needs of a specific sector and the potential of blockchain technology, MoneyTrac is carving out a niche in the field of high-risk payments.

Beyond the Basics

There may even be great potential for MoneyTrac’s payment solution to reach beyond the limits of the cannabis sector. The Federal Deposit Insurance Corporation (FDIC) has encouraged banks to provide services to businesses based on risk-based analysis (http://cnw.fm/d2UsM) rather than cutting off entire sectors from key financial services. Despite this, banks remain wary of high-risk customers, due to both the financial and the legal risks. Given the inherent conservatism of established banks, the situation is not unexpected, creating a space for disruptive payment providers such as MoneyTrac to fill the gap.

The company has begun diversifying its services in other ways as well. Through an investment in cannabis community periodical PotSaver, it has been able to expand its reach within its core customer base. PotSaver will be providing readers with money-saving deals on a range of products not limited to cannabis and its paraphernalia. Simply by being part of the broadening of that community, MoneyTrac is investing in reaching beyond cannabis.

A New Financial Sector

As the new financial sector is evolving, a variety of companies have advanced alternative payment solutions and financial systems. Like Global Payout, SinglePoint, Inc. (OTCQB: SING) is working to provide financial services to the cannabis sector. The two companies have worked together on providing streamlined payment services based on blockchain technology. SinglePoint is also heavily invested in bringing the cryptocurrency sector into the mainstream. The company is currently building out its bitcoin payments solution that will enable customers to pay for cannabis with cyrpto currency instantly at the point of sale.

Cannabis company MassRoots, Inc. (OTC: MSRT) is approaching the finance sector from another angle. The company is already providing a service to help customers judge the efficacy of cannabis strains and products, thereby demonstrating its ability to provide technological solutions to the needs of the sector. Now, it is establishing a subsidiary focused on blockchain, the technology at the core of cutting-edge payment solutions for high-risk industries. This will allow the company to provide financial services for cannabis suppliers and their consumers.

Finance isn’t the only support service that cannabis companies are looking to reshape to suit their needs. iAnthus Capital Holdings, Inc. (OTCQB: ITHUF), an operator of cannabis facilities across the United States, is expanding into a range of support services. Its acquisition of Pilgrim Rock Management, LLC (http://cnw.fm/X7PbJ) provides it with intellectual property licensing, professional and management services, and real estate and equipment leasing — all geared toward its core business.

Glance Technologies, Inc. (OTCQB: GLNNF) offers another alternative approach to payment through its smartphone-based payment system. This streamlined payment process allows users to easily make and track payments. Glance’s blockchain-based rewards system is being integrated into the app. The company recently invested in Loop Cannabis Insights Inc., providing it with more insight into the high-risk businesses that could benefit from its product.

Alternative payment systems offer a much-needed solution for high-risk businesses that struggle to access traditional finance. While the cannabis industry is providing a testing ground for these services, they are already spreading to the wider economy, allowing more people access to efficient payment systems.

For more information on Global Payout, visit Global Payout (OTC: GOHE).

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Budding Legal Cannabis Industry Offers Opportunity Amid Challenge, Chaos

CannabisNewsWire Editorial Coverage: Albert Einstein may have said it best: “In the middle of difficulty, lies opportunity.” The changing landscape of the cannabis industry perfectly illustrates this quote, and who better to know it than the companies and individuals involved in this burgeoning business? Canadians are standing by while government leaders grapple with last-minute details of legalizing adult-use recreational cannabis nationwide, while Americans watch lawmakers debate and often reject legislation that would make some form of the highly regulated plant legal in more states. Companies poised to benefit from this “green rush” are providing services specifically tailored to this growing market that, from the outside, can appear chaotic. Among the companies responding to the call are Global Payout, Inc. (GOHE) (GOHE Profile), Terra Tech Corporation (OTCQX: TRTC), GB Sciences Inc. (OTCQB: GBLX), Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and Medical Marijuana Inc. (OTC: MJNA).

The Struggle

One of the most significant issues facing recreational and medical cannabis businesses is finding ready and willing financial institutions to handle the enormous amounts of cash the industry generates. U.S. federal banking institutions are hesitant to get involved, since cannabis remains illegal under federal law. Canadian banks are keeping an eye on the industry while waiting for legalization to take hold in Canada later this year. Even those institutions willing to serve the industry are having second thoughts. Just last month, the Bank of Springfield in Illinois told its cannabis clients it would close their accounts (http://cnw.fm/LyWP5). The decision to withdraw is tied to the January reversal of a policy from President Barack Obama’s administration that discouraged the prosecution of operators under state marijuana laws.

“The bank’s stance is that protecting their customers is paramount,” said Andrew Mack, a spokesman for the bank. “The Bank of Springfield will not jeopardize any of their customers by working with businesses that operate in the legal gray zone.”

Alternative Fintech Options

Global Payout, Inc. (GOHE) and its San Diego-based partner, MoneyTrac Technology (“MTRAC”), offer alternative fintech banking solutions to high-risk industries in the United States, Canada and Mexico. Through customized payment solutions, companies can process and manage electronic payments worldwide. MTRAC recently launched its new “Key to Cashless™” payment option powered by GreenBox blockchain technology (http://cnw.fm/T8hkZ) by placing a demo kiosk in the company’s corporate sales office.

Vanessa Luna, MTRAC CEO, said the company has worked on the project for over a year and a half and is now accepting applications from qualified merchants operating within a variety of “alternative” and “high-cost” industries interested in the system.

“We are extremely excited to be getting this payment platform off the ground, and we plan to pay special attention to marketing and recruiting local governments and municipalities to adopt the technology as a means for both regulating legal cannabis sales and tracking it for tax purposes,” Luna said. “The power of this payment system cannot be overstated; it is a one-of-a-kind service offering that no other company can match, offering cashless transactions, inventory tracking, fully integrated point-of-sale and one-click payroll capabilities and is very much the solution the cannabis industry has been waiting for.”

A Growing Marketplace

Grand View Research reports that the global medical cannabis market is projected to reach a value of $55.8 billion by 2025 (http://cnw.fm/m0Zjp) while retail sales of legal cannabis products in North America alone are expected to fetch $24.5 billion by 2021, according to an article in Fortune magazine. California’s medical marijuana market is already as big as the total markets in Colorado, Washington and Oregon combined, the article states (http://cnw.fm/hK3S7).

Ancillary businesses that support the cannabis industry are growing fast, as well, said Mitchell Kulick, partner at Feuerstein Kulick LLP, a cannabis law firm that provides legal services to companies, funds, investors and lenders in the space.

“The reality is that, despite being illegal on a federal level, medical and adult-use marijuana are by most measures real industries that cannot be ignored and that have the same needs as more mainstream business,” said Kulick (http://cnw.fm/MLcu6). “So, from payroll providers to point-of-sale software to compliance companies, law firms, accountants, and the list goes on, many businesses that are ancillary to the industry are now part of this revolution.”

As part of that “revolution” the MTRAC Kiosk, powered by GreenBox’s state-of-the-art closed loop blockchain technology, can be placed in any business that wishes to conduct cashless transactions. Customers either load currency onto an e-wallet or a pre-paid debit card and then use the digital currency or pre-loaded debit card to pay for purchases. Integrated Compliance Solutions (“ICS”), a leader in the Know Your Customer procedures as well as in legal compliance solutions for the cannabis industry, has committed to serving as the compliance arm of MTRAC and its GreenBox payment solution (http://cnw.fm/FOn5V).

“ICS has done an excellent job of making a name for themselves in terms of offering highly effective and much needed compliance for the cannabis industry,” Luna said. “We believe they have the necessary technology, experience and connections to provide the best compliance our network of clients can benefit from.”

Change of Heart

Former Republican speaker of the House John A. Boehner recently switched sides in the battle to decriminalize cannabis. Once “unalterably opposed” to rolling back federal regulations, Boehner has now joined a board of directors for a cannabis company and is voicing support for veterans to have legal access to medicinal cannabis, the Washington Post reports (http://cnw.fm/Ge34b). His change of heart and mind about cannabis is matched by many Americans who now overwhelmingly voice support for legalizing medical cannabis.

Paying for a cannabis prescription, however, remains a challenge since cash-in-hand is often the only method of payment available. Representatives from MTRAC are already in talks with several California municipalities to implement the company’s payment system as the preferred method for licensed dispensaries in their jurisdictions. MTRAC’s Kiosk offers one of the most effective cashless alternatives to these businesses in a way that meets compliance and regulatory requirements, the company said in a news release (http://cnw.fm/9U2gQ).

On the Bandwagon

GOHE and MTRAC aren’t the only companies that have seen — and responded — to a need in the cannabis industry. Other companies are moving to the forefront as they provide services specifically geared for this blossoming market.

California-based Terra Tech Corporation (OTCQX: TRTC) is a vertically integrated, cannabis-focused agriculture company committed to providing the highest-quality medical cannabis and other agriculture products. Terra Tech, which just reported a 41 percent year-over-year revenue growth for 2017, has established extensive cultivation capabilities and retail outlets in California and Nevada.

“Cannabis analytics firm New Frontier projects Nevada’s total cannabis market to be $622 million by 2020 and we are excited by the opportunity to participate in its growth,” Terra Tech CEO Derek Peterson said in a news release (http://cnw.fm/ExV4Q).

GB Sciences Inc. (OTCQB: GBLX) is a diverse cannabis company focused on standardized cultivation and production methods as well as biopharmaceutical research and development. The company’s goal is creating safe, standardized, pharmaceutical-grade cannabinoid therapies that target a variety of medical conditions, including Parkinson’s disease and neuropathy. GB Sciences recently received its license for cannabis oil production, which will soon begin at a Las Vegas facility, and expects retail sales revenues of its products to roll in during the second quarter of 2018, the company stated in a news release (http://cnw.fm/J4wCj).

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) has developed and out-licenses its proprietary DehydraTECH™ technology for improved taste, rapidity and delivery of bioactive compounds including cannabinoids. The company’s disruptive technology is proven to enhance the absorption of orally ingested cannabinoids while improving the taste, which allows for lower overall dosing with higher efficacy. Most recently, Lexaria received a new U.S. Patent Allowance for enhanced cannabinoid delivery using its DehydraTECH technology (http://cnw.fm/8vnXq). Lexaria currently has 15 patent applications filed in the United States and over 30 pending in more than 40 countries, plus two patents granted for cannabinoid delivery in the United States and one granted in Australia.

Medical Marijuana, Inc. (OTC: MJNA), headquartered in California, is a cannabis and industrial hemp company whose subsidiaries and investment holdings are involved in the development, sale and distribution of hemp oil and other products containing CBD-rich hemp oil. The company’s products are formulated for the pharmaceutical, nutraceutical and cosmeceutical industries, including dietary supplements. The company also sells its products in several countries that have legalized its products for the treatment of various illnesses and conditions. Medical Marijuana subsidiary HempMeds® announced at the Pittsburgh World Medical Cannabis Conference & Expo (http://cnw.fm/O3WBc) that it has released a new roll-on, topical hemp product specifically targeting athletes and active adults.

Look Out, It’s 2018

California’s conversion to statewide recreational cannabis is already experiencing some missteps and growing pains. Canada’s move to become the first Group of Seven nation to legalize adult-use marijuana is dominating international discussions while cannabis entrepreneurs scramble to capitalize on its legalization. Alcohol companies see opportunity amid the chaos, with some investing in cannabis firms or planning to introduce their own cannabis-infused products. Several companies serving the cannabis industry are looking at creating ways to avoid cash transactions through blockchain technology’s promise of a tamper-proof form of digital bookkeeping through a distributed, encrypted ledger. The cannabis industry’s growth presents challenges and opportunities on a variety of interesting and potentially very lucrative levels.

For more information on Global Payout, Inc., visit Global Payout, Inc. (GOHE).

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Cash-Heavy Cannabis Industry Looking for Alternative Fintech Banking Solutions

CannabisNewsWire Editorial Coverage: In a world where legal cannabis is rapidly becoming more mainstream, a vexing financial issue continues to haunt the businesses and consumers taking part in this multibillion-dollar industry; namely, what to do with all that cash when federally chartered banks can’t accept it and credit card companies won’t touch it. Marijuana is still a federally prohibited substance, after all, which makes businesses that handle the highly regulated plant outcasts when it comes to traditional banking methods. This aversion to risk, as defined by the banking sector, is actually a welcome opportunity for companies that cater to “high-risk” industries, such as the rapidly expanding and lucrative legal cannabis market. Among the top players enabling marginalized cannabis-related businesses and other high-risk industries to thrive are Global Payout, Inc. (OTC: GOHE) (GOHE profile), Medical Cannabis Payment Solutions (OTC: REFG), CannaRoyalty Corp. (OTCQX: CNNRF), SinglePoint, Inc. (OTCQB: SING), and MassRoots, Inc. (OTCQB: MSRT).

Billions Upon Billions

While the legal cannabis industry may just be getting started in the United States, it is expected to generate nearly $57 billion in worldwide sales by 2027, according to a Forbes article quoting Arcview Market Research (http://cnw.fm/C7wd8). The adult use market for recreational cannabis will get the lion’s share of that spending — 67 percent — while medicinal cannabis gets the remaining 33 percent. And that’s just the beginning, according to Arcview’s analysis, with the largest group of those cannabis spenders coming from North America. These folks are expected to shell out $9.2 billion in 2017 and more than $47 billion a decade later. That, as Carl Sagan would say, is “billions upon billions” of big bucks.

Is Cash Really King?

Lack of access to traditional banking services means legal cannabis businesses and their customers are usually dealing solely in cash. Some cannabis dispensaries can conceivably do $1 million a month in business, attorney James Smith says (http://cnw.fm/XWWx4).

“You don’t want that to be cash,” said Smith, a founding partner at Smith, Costello and Crawford, a firm which represents cannabis companies. “The state doesn’t want it, the industry doesn’t want it, even the federal government doesn’t want it.”

Keeping large amounts of cash onsite raises the risk of theft or embezzlement and increases the cost of security measures. MoneyTrac Technology, Inc. (“MTRAC”), a partner of Global Payout, Inc. (GOHE), is taking aim at solving this industry-wide concern with a full-service banking solution powered by GreenBox blockchain technology. MTRAC’s payment solution offers cashless methods to process payments for consumers and gives business owners the ability to remit payments to vendors, employees and other business affiliates.

Key to Cashless™

Unbanked cash presents a host of problems for business owners and the states in which they are licensed to do business. Even Canada, which is poised to legalize recreational cannabis for adult use by the end of the summer, is struggling with the issue since many of its largest banks steer clear of the cannabis industry. That may change in Canada once full legalization takes place, according to an article in Marijuana Business Daily (http://cnw.fm/wQi0V).

But why wait for traditional financial institutions to solve a problem when several companies have been working hard to provide a solution? Global Payout’s MoneyTrac Technology specifically offers alternative fintech banking solutions to these high-risk industries in the United States, Canada and Mexico.

“The goal of MTRAC from the beginning has been to leverage the different technologies available to us to remove the use of cash as the primary form of payment throughout the cannabis industry,” said MTRAC CEO Vanessa Luna in a news release (http://cnw.fm/xX6yC). “While other companies have struggled to find supportive financial solutions, MTRAC opted to take a different approach, and one that has relied heavily on the use of blockchain technology to address this problem for a massive and growing industry.”

Inside the Box

MTRAC’s revolutionary payment process for businesses operating across a wide array of alternative high-cost and high-risk industries utilizes closed-loop blockchain technology. Simply put, merchants and consumers are assured that currency moved into MTRAC’s system, either in the form of cash or through a debit/credit card via MTRAC Kiosk or a customer/merchant e-wallet, is converted to a digital representation of the currency’s value using secure, encrypted digital keys.

The MTRAC Kiosk, powered by the forward-thinking blockchain technology solutions offered by GreenBox, can be placed in any business that wishes to go cashless, making it simple and easy for merchants and customers alike to complete financial transactions. The concept is already generating buzz as MTRAC and GreenBox share their innovative payment solution with industry leaders in fields such as energy, water-tech, IoT, mobile and electronic payments, and security technologies (http://cnw.fm/z5UcA).

Looking Back

Several years ago, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter aimed at encouraging depository institutions to serve their communities by taking a risk-based approach when considering customer relationships instead of declining to provide banking services to an entire category of customers. That was in 2015, and, to date, little has changed when it comes to whether banks and credit unions are interested in welcoming the cannabis industry with open arms. Out of more than 16,000 FDIC and NCUA depository institutions registered in the United States, a 2017 federal report on marijuana banking noted only 400 of the institutions currently work with marijuana-related businesses (http://cnw.fm/s3TXu).

Catering to these “unbankable” businesses is exactly what Global Payout planned to do in 2015 when MoneyTrac Technology Inc. was brought under the company’s banner. The goal, then and now, is to focus on the development of financial technologies that specifically address many of the challenges that enterprises in a variety of alternative and high-risk market sectors face in processing financial transactions. MTRAC may be one of the most configurable and intuitive financial technology platforms available to alternative and high-risk enterprises, providing solutions that effectively manage everything from pin debit and virtual currency to compliance and cash flow logistics.

Playing a Pivotal Role

MTRAC’s commitment to working with the burgeoning cannabis industry is illustrated by the company’s recent announcement that it has joined the National Cannabis Industry Association at its highest membership level. The NCIA connects organizations, builds networks and serves as an advocate for the cannabis industry nationwide. Advocacy is encouraged as the cannabis industry continues its push for legitimacy and legalization, the NCIA states on its website (https://thecannabisindustry.org/).

“NCIA truly represents one of the most important and valuable associations in our industry,” Luna said in a new release published on CannabisNewsWire (http://cnw.fm/bCD0N). “Their hard work and advocacy over the past 17 years has played a pivotal role in helping to pave the way for the growth and continued legitimacy of this industry as well as in being a crucial resource to the thousands of businesses, such as MoneyTrac, who are committed to conducting business the right way, in an industry that remains highly scrutinized.”

The Home Stretch

Canada’s push to legalize recreational cannabis for adult use is being carefully watched on many fronts. Canadian lawmakers are still in the process of fine-tuning and adjusting the legislation that many expect to be in full force by September. Canadians are being assured that the government is planning “orderly implementation nationwide” with an overriding policy goal of keeping cannabis out of the hands of children (http://cnw.fm/0jyV7).

Even if select Canadian banks decide to finance cannabis operations or purchases, many are concerned about jeopardizing their operations based in the United States, where cannabis remains illegal at the federal level (http://cnw.fm/4PkeV).

Opportunity Beckons

The launch of MTRAC’s full-service banking solution, powered by GreenBox blockchain technology, offers the cannabis industry and other high-risk sectors cashless payment options they desperately need, Luna said (http://cnw.fm/3neCm).

Joining the effort to provide cannabis dispensaries and related businesses with payment solutions is Medical Cannabis Payment Solutions (OTC: REFG). After working with targeted participants in the state-sanctioned cannabis industry, Medical Cannabis Payment Solutions has rolled out its payment system to serve the global medical cannabis and banking industry.

“This fully concludes our transition from development stage and government relations to revenue stage,” said Jeremy Roberts, CEO of Medical Cannabis Payment Solutions. “We’re excited to bring our services to the industry and to bring increased value to our shareholders.”

Medical Cannabis Payment Solutions was developed to solve a major problem in state-sanctioned marijuana: banking and cashless payments. The company’s cutting-edge payment solution allows consumers to buy items using U.S. currency and will soon allow Bitcoin, Roberts said in a news release (http://cnw.fm/lh4xO).

Building and supporting a diverse portfolio of businesses ready to grow in high-value areas of the cannabis sector is the aim of Ontario-based CannaRoyalty Corp. (OTCQX: CNNRF). These areas include research and brand development, devices and intellectual property. In 2017, CannaRoyalty co-launched Trichome Yield Corp. (“Trichome”) to be a preferred asset-backed lending partner to emerging and established Canadian and global cannabis companies.

CannaRoyalty also recently announced its acquisition of three California cannabis-related businesses: RVR, a large-scale distributor of both medical and recreational cannabis brands; Alta Supply, a smaller distributor of medical marijuana; and Kaya Management, a maker of edibles and vaporizers (http://cnw.fm/rU7cL).

Providing full-service mobile technology solutions keeps SinglePoint, Inc. (SING) in the spotlight as the company capitalizes on two high-performing market sectors: legal cannabis and cryptocurrencies. In a March 7, 2018, shareholder update, SinglePoint announced the soft launch of its SingleSeed Bitcoin payments solution. SingleSeed stands to address the lack of viable payment options for the cannabis industry by providing a user-friendly, easy-to-track transactional platform that enables merchants to accept non-cash payments (http://cnw.fm/dht1X). SinglePoint also recently announced the official launch of SingleSeed’s newly updated website, which is focused on selling cannabidiol (“CBD”) based products direct-to-consumer (http://cnw.fm/f9D4M).

MassRoots, Inc. (OTC: MSRT) has developed a technology platform for the cannabis industry and its users. The company’s technology platform enables cannabis consumers to join a social network, which is accessible through several portals and mobile apps. Cannabis enthusiasts can post reviews, follow their favorite dispensaries and stay connected with the cannabis legalization movement (https://www.massroots.com/). MassRoots recently formed a subsidiary focused on utilizing blockchain in the cannabis industry, which pairs well with the company’s marketing strategy of building technology platforms for the regulated cannabis industry. The company’s mobile apps have more than 1 million registered users.

Economic Impact

The ongoing regulatory uncertainty that surrounds legalized cannabis in the Unites States. can be a divisive conversation among lawmakers, the cannabis industry and members of the public. It is a topic not likely to go away as more states consider measures to legalize cannabis in some form or another. One thing all parties can agree on, however, is businesses that work mainly in cash invite a myriad of problems. Reducing that risk by providing alternative cashless payment solutions offers safeguards traditional banking isn’t able or willing to give at this time.

For more information on Global Payout, Inc., please visit: Global Payout, Inc. (GOHE).

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CannabisNewsBreaks – Global Payout, Inc. (GOHE) Subsidiary Attends Cali-Baja Israel Mexico Innovation Expo

Payment solutions company Global Payout, Inc. (OTC: GOHE), through majority-owned subsidiary MoneyTrac Technology, Inc. (“MTRAC”), this morning announced its attendance at the Cali-Baja Israel Mexico Innovation Expo in Tijuana on March 20-21. Per the update, MTRAC provided key representational support for its partner, GreenBox, at the event, capitalizing on the opportunity to share the forward-thinking blockchain technology solutions offered by GreenBox with leaders from a wide range of industries. “The primary objective of attending this expo in partnership with GreenBox was to further our efforts in helping them develop their brand image and generate additional buzz for the impressive blockchain technology-based solutions they are prepared to deliver to a variety of target market sectors,” Vanessa Luna, CEO of MTRAC, stated in the news release. “I am very encouraged by the interest and overall excitement we received during the expo especially in knowing that it was received from individuals who are innovators and leaders in the world of technology solutions. My team and I recognize now more than ever the disruptive capabilities GreenBox can infuse into multiple high-cost banking industries and truly be a driving force behind bringing our mission of Banking the Unbankable to fruition.”

To view the full press release, visit http://cnw.fm/W97eV

About Global Payout, Inc.

Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions for domestic and international organizations distributing money worldwide. In 2014, Global introduced its first online payment platform called the Consolidated Payment Gateway (CPG), which allowed its enterprise clients to transfer money to international bank accounts, mobile accounts, and prepaid card accounts. The development of the CPG became the foundation for the introduction of its new, state of the art FINTECH payment system in 2017, for both online and mobile applications to allow account holders to maximize an expanded suite of financial services and minimize operational costs. Global will continue to offer their FINTECH payment system to many vertical markets for support of foreign currency exchange and digital currency, including ongoing support of the banking industry and international governments. For more information, visit www.GlobalPayout.com

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CannabisNewsWire (CNW)
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303.498.7722 Office
Editor@CannabisNewsWire.net