Blockchain Setting Background
Blockchain Setting Background provides a foundation for discussion that the commercial cannabis industry in California needs to have…NOW! The best overview that we have seen was published on the website of intheblack.com which describes itself as:
intheblack.com is a leading source of information on business, finance and accounting, offering key insights into strategic thought leadership by way of expert analysis, commentary and opinion. intheblack.com features articles from Australia’s most-widely circulating monthly business magazine, INTHEBLACK, plus a variety of content, including additional commentary, polls, audio and video, photo galleries and reader comments.
They published a series of articles
The United States Securities and Exchange Commission [“SEC”] published a paper entitled A Brief Introduction To Blockchain that is an excellent primer on the topic.
We believe that it is important to be very clear that while “blockchain” is quite often associated with cryptocurrencies such as bitcoin they are vastly different. Blockchain technology is a mainstream business technology of the future, while bitcoin might be viewed as a high tech version of Las Vegas.
Bitcoin – in bitcoin.org’s own words – How It Works
If you prefer your information “dumbed down” there is:
If you are a crypto-genius, you might prefer
Which brings us to the question of what is the relationship between bitcoin and blockchain?
IBM’s take on the difference is explained in The Difference Between Bitcoin and Blockchain For Business which is part of an excellent blog from IBM on Blockchain Education.
Once again, a dumbed down version can be found at
Our hope is that with the background we have provided in this post, everyone will be better equipped to understand the discussion that will be forthcoming on the role of blockchain in the commercial cannabis market.
There is an excellent article about blockchain in the cannabis industry today on Marijuana Business Daily entitled Marijuana businesses experimenting with blockchain technology, but skeptics persist by