420 with CNW – Medical Marijuana Users in Illinois Increase by 80 Percent

A report released by the Illinois Department of Public Health shows that the users of medical marijuana in that state have increased by 80 percent so far when compared with the statistics for 2017.

The report shows that most patients using medical cannabis wanted to treat post-traumatic stress disorder (PTSD). More than 4,000 people out of the 46,000 who have used medical marijuana this year used cannabis to treat PTSD.

PTSD was followed by fibromyalgia at 3,400 patients while cancer was close behind at 2,500 patients seeking medical cannabis.

It is also noteworthy that about 75 percent of all patients on medical marijuana were at least 40-years old. This statistic may be correlated to the qualifying conditions for which one can get a recommendation for medical marijuana.

It is predicted that the number of people seeking medical marijuana will rise further for two key reasons.

First, there has been an increase in the number of doctors who get certified to recommend medical marijuana. The number now stands at 3,000 compared to the 2,100 who were available in 2017. Each doctor recommended approximately 25 patients while a few handled about 100 patients each.

This increase means that patients will find it easier to access a doctor who can recommend medical cannabis for their conditions.

Secondly, some regulatory changes will make it easier for people to access medical cannabis. For example, a law was signed by the Governor to allow doctors to prescribe medical marijuana for chronic pain instead of asking patients to take opioid painkillers as was the case before. Additionally, it will be easier to process patient applications since fingerprinting and performing criminal background checks will no longer be part of the process through which medical marijuana applicants are screened.

However, some medical experts are warning that the use of medical marijuana may create cases of substance abuse. This fear arises because some of the medical cannabis dispensaries have products which are about 90 percent THC. THC is the psychoactive ingredient of marijuana responsible for the high experienced by users.

The addiction experts are also concerned about the quantities that patients can buy. In their view, the current limit is high and can permit a patient to consume the cannabis product on a daily basis. Addiction can easily arise when that happens.

You can be certain that companies like NUGL Inc. (OTC: NUGL) and Pacific Software, Inc. (OTC: PFSF) are crunching the numbers coming from Illinois in order to see what direction the medical marijuana industry will take in the coming years.

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420 with CNW – Nearly 1 in 11 Teens Vapes Marijuana

A recent study which was published in the Journal of American Medical Association (JAMA) Pediatrics Edition has revealed that almost one in 11 American teenagers uses an electronic cigarette to consume cannabis.

The findings stem from a survey which was conducted in 2016. Over 2,000 middle and high school teens participated in the study.

That proportion of kids who vape marijuana translates to approximately two million teens across the U.S. A similar study conducted by the University of Michigan had similar findings more than a month ago.

The CDC survey found that more boys than girls were likely to consume marijuana using an electronic nicotine delivery system (ENDS) or e-cigarette. Teenage vape rates of marijuana were also higher among middle and high schoolers who stayed with an adult that used an electronic cigarette.

The number of heavy vapers who consumed cannabis using an electronic cigarette stood at almost 64 percent, as compared to 33 percent who didn’t vape on a regular basis. Frequency of e-cig use seems to increase the likelihood of consuming other substances using the ENDS devices.

The study also discovered that nearly 39 percent of all students who used other tobacco products also used an e-cigarette to vaporize cannabis. In contrast, about five percent of students who didn’t use other tobacco products vaporized cannabis. This statistic shows that the use of tobacco products may predispose a teen to vaping marijuana.

The use of marijuana in electronic cigarettes causes a lot of concern, because marijuana is known to affect memory and learning in later years.

The head of the Food and Drug Administration, Scott Gottlieb, expressed the determination of his agency to end the growing trend of teenagers vaping. To that end, several manufacturers of popular electronic cigarettes, such as Juul, were given two months within which to prove to the regulators that those manufacturers were doing everything they can to stop underage access to their products. Companies that don’t comply would be shuttered, he warned.

Juul is especially notable, because the product has gained huge traction among students, probably because of its sleek design that makes the device easy to conceal.

The findings of this study create an urgency for steps to be taken to prevent minors from consuming tobacco and other potentially addictive substances. It may be necessary for the regulators to consider other means, since their current efforts don’t appear to be having the desired effects. Companies, such as Pacific Software, Inc. (OTC: PFSF) and The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF), must be paying attention to these studies, since they could affect how any product that they bring to the market will be scrutinized.

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420 with CNW – Drama Characterizes Passing of Cannabis Bill by Congressional Committee

The Medical Cannabis Research Act was finally passed by the House Judiciary Committee of Congress. This was the first time in 50 years that a Republican-dominated congressional committee has passed any legal cannabis reform legislation.

Republic Mathew Gaetz and 40 other cosponsors set the momentum rolling for the Thursday vote, which paved the way for additional facilities to get licenses to grow research-grade cannabis.

Congressman Matt Gaetz said that the U.S. had for too long been trapped in a catch-22 situation in which cannabis laws couldn’t be revised due to the absence of sufficient scientific research, yet that needed research could not be conducted due to the existing legal restrictions. Gaetz said that this “logjam” would be untangled by the Act.

Committee chair Bob Goodlatte echoed similar sentiments in his statement on the matter. He said that, while differing opinions exist on the subject of marijuana, there was agreement that scientific information/research was needed to guide the debate.

The statement by Bob Goodlatte could explain why he changed from his opposition to approving any law legalizing any form of cannabis to supporting this Act, which will allow researchers to study the possible medical value of the substance.

The committee sitting did have its share of controversy, however.

Serious objections were mounted to clauses that barred anyone with a drugs-related conviction, whether a misdemeanor or felony conviction, from participating in the legal cannabis industry.

Human Rights Watch, the Drug Policy Alliance and other advocacy groups read statements denouncing those clauses that exclude citizens who have already served punishments for their infractions.

Their view is that ex-convicts should be helped to get employment rather than be hindered from becoming productive members of their communities.

Gaetz shocked committee members when he confessed that the language in question wasn’t in his original draft of the bill. However, he was prevailed upon by cannabis industry firms to include that wording in order to keep “riff-raff” from applying for a cannabis research or cultivation license! Companies like Earth Science Tech, Inc. (OTCQB: ETST) and Pacific Software, Inc. (OTC: PFSF) would certainly not be party to such an action since they believe in free and ethical enterprise.

Committee chairman Goodlatte promised to find a way to address the concerns about that “unacceptable” language/clause before the Act is forwarded to the entire house for a vote.

It is widely believed that the Senate will be an easier ground for the Act to navigate and obtain approval.

What is now left is to wait for the Act to be scheduled on the business of Congress. When will that happen? Your guess is as good as ours.

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420 with CNW – Cannabis and Crypto

Cannabis firms have fought regulations and misconceptions for quite a long time as they have made attempts to inform the public on the medical benefits of the plant. In the recent couple of years, cannabis companies have started recording a surge in interest, as evidenced by their monthly record sales. Investors in Wall Street project that the industry will attain a valuation of $75 billion by the end of 2030.

Almost coincidentally, cryptos have also been enjoying a surge in popularity, with values of top cryptocurrencies such as bitcoin and Ethereum hitting record levels. Toward the end of 2017, the total market capitalization of the cryptocurrency industry hit $600 billion.

Apart from the growth prospects of the two industries, both experience legal uncertainty, high-risk environments and tighter government regulations. This makes cannabis and cryptos perfect partners.

How Blockchain is Facilitating Cannabis Trade

The blockchain technology that is the backbone of crypto transactions can help the cannabis industry to secure its exchange transactions. The cannabis trade has been criticized for channeling funds into the black market. With the blockchain, these worries can be put to rest and loopholes for fraud and funds leakages into the underworld sealed.

When this happens, both the crypto and cannabis industries can legitimize their activities in today’s dynamic modern economy. For instance, in the United States, only Alaska, Washington, Oregon, California, Nevada, Colorado, Vermont, Maine and Massachusetts have legalized marijuana for both recreation and medical use. The rest of the states have legalized the drug only for medical use.

Using cryptocurrency to facilitate transactions in the cannabis market is hugely important. This is because it widens the playing field and promotes inclusion to other groups all around the globe that previously were secluded from the trade. Since cannabis is still a Schedule I drug together with methamphetamine and heroin, players in this industry are barred from using bank accounts.

Any attempts by the banking system to facilitate cannabis payments could lead to dire legal consequences, including charges for money laundering. The exclusion of the banking system also renders the use of credit and debit cards impossible. Operations for cannabis businesses in the U.S. are cash-based.

Legitimizing the Cannabis Industry through Crypto

Cryptocurrency companies have come up to support trading activities and other development initiatives within the cannabis industry. One of the companies offering blockchain technology solutions customized for the cannabis industry is Pacific Software Inc. (OTC: PFSF). The company seeks to improve the compliance, transparency and efficiency of cannabis supply in states where it has been legalized.

Cannabis companies and traders who want to use the company’s Hyperledger blockchain applications are required to pay transaction fees, cash, loyalties and other forms of payment depending on the nature of the transactions.

GreenBox POS, LLC (OTC: GRBX) has also built customized payment solutions for different industries, including cannabis. The point of sale system is fully integrated, easy to use and intuitive.

By connecting buyers and sellers, crypto firms are creating a legitimate, centralized online meeting place where cannabis enthusiasts can share information and engage with one another. Usually, participants are rewarded with crypto coins that can be exchanged for goods and services or converted to fiat currency.

Any effort to boost accountability and transparency in the logistics and supply chain of cannabis is therefore welcome. The adoption of blockchain technology is yielding positive effects by fighting the social stigma around the sale and use of marijuana. As this positive ecosystem expands, buyers and sellers will feel safe, just like any other participants in a market platform.

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