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Finding Financial Solutions in the Cannabis Industry

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Finding reliable banking and payment processing in the cannabis industry is extremely challenging. On the one hand, cannabis has been legalized in several states and therefore is a legitimate business. On the other hand, access to financial services is locked up with banks that are disinterested in supporting the cannabis space, forcing these legitimate businesses to find any way possible to access the financial system or be forced to operate entirely in cash. The latter creates outsized physical risks to businesses, their employees and patients, and the communities in which they operate.

Many financial “solutions” have been thrown against the wall to see what will stick. What access is available has been expensive and many times illegal in ways that people have no idea even exist, because the teams developing the products are looking only at the technology. Any system for handling payments is highly regulated by government and subject to heavy delays due to vetting by traditional banks and card networks.

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So, what can your business do to make sure you have reliable, affordable financial services that can scale with your business and will not land you in prison for something you didn’t even realize you weren’t supposed to do?

Vet service providers

Vetting the background of the team that provides the service is crucial. Financial products of all types are different from other services because they are heavily regulated, and access to financial systems takes time to develop. Traditional providers must approve products before they will provide access to the U.S. financial system. You want a team that knows how to navigate these waters, because they will be able to provide sustainable access.

Financial institution operations are dictated by law and regulation, which means highly specialized lawyers are the people actually running the operations at financial institutions. Look for teams with experts in financial institution operations, ideally with members who have worked in regulation or the back office at financial institutions. You want developers who have designed systems for banks and payment providers and not “fail fast” tech entrepreneurs who frequently don’t have the patience to see long-term projects through. You want strategy based on partnering with traditional financial providers.

Expect product teams to have spent years of strategic discussions and partner vetting before bringing their product to market. The only way to guarantee those back-office partner discussions happened is by having a team that knows its way around the financial industry’s operating side and understands the timelines for creating relationships. Relationship teams are valuable, of course, but they don’t know how the sausage is made and are very quick to tell you they can do things they cannot because they haven’t asked the people actually operating their financial institution.

In the end, what you need is a team that isn’t about sales hype or workarounds but instead is devoted to delivering what they say they can do and has the financial industry operations experience to actually get the project done the right way. When correctly implemented, services will be sustainable and reliable. Otherwise, the “solution” may not be around in a year.

Demo the product

Make sure any provider you consider has an actual product, not a project “under development.” Legitimate service providers will offer to let you test their potential solutions. Don’t allow yourself to be sold a slick interface for a product that hasn’t been built.

You want a product that gets the job done and makes your life easier, not harder. Unless you have expertise in the area, supervising developers to create a product is difficult.

Ensure ease of use

Take a few minutes to think about how you and your customers will use the product. On the business owner’s side, the system should integrate easily into whatever you already use. It shouldn’t require additional equipment or setup. If it does, the team providing the product should handle that for you or work in conjunction with your team. The system should be intuitive, not require a lot of training, and do what you need it to do.

You also want to understand what limits the system has for supporting your business. For example, are there maximum and minimum transaction sizes? If so, does that range fit the average transaction size for the products you offer? Does a minimum number of transactions exist, and if so, what happens if you don’t meet that minimum? If you have a store and sell online or through an app, does a single product support all those payment points? If you sell at festivals, markets, trade shows, or at pop-up shops, can the product support those payment points too? Can the product scale with your business?

For your customers, the product should be intuitive, not require a lot of training, and refrain from forcing them to jump through a ridiculous number of hoops. Customers will feel most comfortable if the system resembles something else with which they are reasonably familiar. They should be able to sign up to use the product easily and in a minimal amount of time (one minute or less), and they should be able to start using the product as soon as sign-up is completed and confirmed. Waiting causes frustration, and frustration leads to lost sales.

Watch costs

Many financial product providers list prices with an asterisk (*) or footnote (¹). Read the fine print about pricing, because typically asterisks and footnotes alert you to hidden fee schedules that could add substantial costs that make the final price 2 percent to 6 percent higher than the list price. Additional charges may include account fees, interchange fees, minimum volume fees, and chargeback penalties.

Understand contracts

Read contracts and understand all the terms before signing. Contracts represent obligations, no matter what other discussions may have taken place beforehand. The amount of time it takes to wade through legal verbiage is minor when weighed against how the terms can dictate your operations.

Contracts can sneak in additional fees as discussed above and assign to you risks that shouldn’t be yours. They can restrict with whom you do business. They can penalize you for ending the business relationship regardless the reason and auto-renew without giving you the opportunity to re-agree. Not reading the document doesn’t absolve you of responsibility for adhering to its terms. Contracts are legally binding.

If you are not comfortable reading contracts yourself, hire a corporate lawyer. The up-front retainer costs are exponentially less than having to go back and change your business operations to comply with the contract or pay penalties for not complying.


Ashley-Elsner-Artery-Pay-mg-magazine-mgretailer

Ashley Elsner, an attorney and MBA, is chief executive officer for Artery Pay, a secure, legal mobile payment service for businesses and consumers in underserved, cash-heavy industries. She has provided Securities and Exchange Commission and state regulatory compliance for hedge funds, public offerings, and acquisitions for companies including LinkedIn and Amazon. Source: https://mgretailer.com/business/finance-acquisitions/finding-financial-solutions-in-the-cannabis-industry/

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Roger Adams and the Unexpected Discovery of CBD

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The name Raphael Mechoulam has gained prominence in the last several years, as he is the man who first isolated delta-9 THC. Not as many people are familiar with the scientist Roger Adams, though he was just as important in the early research on cannabis. The story of Roger Adams and the unexpected discovery of CBD marks one of the biggest milestones in today’s cannabis research. Here’s how it happened.

Not everyone knows the name Roger Adams, or that he made the unexpected discovery of CBD. Just like not everyone knows what delta-8 THC is, or how it relates to marijuana. Both are very important. Roger Adams made some of the biggest discoveries related to identifying cannabinoids; and delta-8 THC represents what that research provided – an alternate form of THC which causes less psychoactive high, less anxiety, and less cloudy head. We support cannabis research, and all the great stuff that comes out of it. Check out our deals for delta-9 THCdelta-8 THC, and for a range of other minor cannabinoids like THCVTHCPdelta 10HHCTHC-O and more, to experience the outcome of decades of research!

Who is this Roger Adams?

Born in 1889, Roger Adams was an organic chemist from Boston, Massachusetts. Adams is from the same family as former presidents John Adams and John Quincy Adams, and is a direct descendent of John Adam’s grandfather. Adams attended Harvard University starting in 1903, and completed his undergraduate degree in three years. He went on to earn his PhD at Radcliffe College in 1912. He was such an outstanding student that he won the Parker Traveling Scholarship for 1912-1913, and used the money to work in laboratories in and around Berlin for that time period.

In 1913, Adams returned to the US, and began working as a research assistant, teaching organic chemistry at both Harvard and Radcliffe. He left the world of Harvard in 1916, upon accepting an assistant professor position at the University of Illinois, Urbana-Champaign. He remained at this university for 56 years. Adams spent the majority of this time as the department head for chemistry, taking the role from his predecessor William A. Noyes.

While working in this position, Adams accomplished several things. Together with students he created the Adam’s Catalyst, something used in hydrogenation reactions along with an apparatus for using this catalyst. He also elucidated the composition of complex vegetable oils and plant alkaloids. In the late 1930’s he began research into the cannabis plant and isolated the cannabinoids CBN and CBD, synthesized both, found delta-9 THC, and did a partial synthesis of that as well. He also synthesized analogues of these compounds. In this way, Roger Adams was the first guy to create a synthetic cannabinoid.

discovery of CBD, there’re two other guys who need to be mentioned, Thomas Easterfield and Robert S. Cahn. As science builds on itself over time, Easterfield’s and Cahn’s discoveries were what led into some of the bigger milestones in cannabis research. It all started with the desire to find what ended up being THC. In the search for the compound that caused intoxication, cannabis was first distilled into a ‘red oil’, which was the first form of it to be studied in modern times.

This red oil was discovered in the late 1800s by Doctor Thomas Hill Easterfield, a member of the Cambridge Group, who had been lecturing at Cambridge University at that time. In the late 1800s when he wrote about the red oil, he called ‘cannabinol’ a narcotic, which it was later clarified not to be by Cahn. At that time cannabinol was the main focus of the cannabis plant, first thought to be the intoxicating factor, but there was intense confusion around it.

Both the red oil, and the compound within, were given the name cannabinol. Though deeper questions were not answered at that time, cannabinol was the first cannabinoid to be isolated, and this was done by Easterfield.

All research was stopped, and Easterfield moved to New Zealand, following a couple incidents. One that involved the death of two collaborators in a lab accident, and one that involved the voluntary ingestion of a large dose of cannabinol by another collaborator, which led to the guy being out of his mind, and wondering around the lab as it caught fire around him. The fire was put out, and he returned to normal, but the news of these accidents was exaggerated and used in smear campaigns against cannabis, with claims that it was causing death and injury to researchers. This stymied research at the time, and it took about three decades for the next major breakthrough, brought by Robert Cahn.

In the 1930s, Doctor Robert S. Cahn began studying the structure and bioactivity of CBN. Cahn called the red oil ‘crude cannabinol’. He used the name ‘cannabinol’ specifically for the pure compound within the oil which he was able to show did not have intoxicating properties, ending the idea that CBN was the psychoactive constituent of the plant. Cahn was able to map the structure of CBN, using the relative position of specific atoms and groups of atoms within the compound, but there were still several questions that didn’t get ironed out until Roger Adams and Alexander Todd began studying the compounds later that decade.

Roger Adams and the unexpected discovery of CBD

The whole idea with the research previous to Adams, was to locate the intoxicating element of cannabis, which was first thought to be cannabinol. Roger Adams began his research into cannabis after the Marihuana Tax Act was passed in 1937, meaning he couldn’t legally study the plant anymore, and had to receive authorization to do so. Prior to getting into cannabis research, Adams had been studying biphenyls and their atropisomerism. What this means is less important for our purposes, than the understanding that cannabinol is a biphenyl derivative, meaning Adams was already well versed in compounds similar to cannabinol, and this made him a great choice to study it.

Hemp-derived Delta 9 THC

It was actually the Bureau of Narcotics of the US Treasury Department which requested Adams do the research into cannabinol, in an effort to locate and isolate the intoxicating element. Funny enough, it was the general misunderstanding about cannabis at the time, that led to the confused discovery of CBD.

You see, cannabis was not well understood, and instead of providing Adams with high-THC cannabis (marijuana), he was provided with high-CBD cannabis (hemp). Using hemp to study THC is much harder, as there is considerably less of it there. THCA is the precursor to CBN, and it only exists in small amounts in hemp, whereas CBDA is more prevalent, but is the precursor to CBD, not CBN. This made it very difficult for Adams to isolate the already-known-about CBN from the plant.

It was this attempt to isolate CBN from the red oil which led Adams to try different methods of isolation. He could not get a direct crystallization of CBN by acetylation (a specific kind of chemical reaction). He instead tried other reagents, eventually finding himself with a previously unidentified crystalline substance. This substance ended up being CBD. In order to isolate the CBN, Adams had to go through a process of purification from the crystalline CBD, which means Adams had to identify a new cannabinoid, in order to isolate the one already found.

What about Alexander Todd?

The story of the discovery of CBD, is twofold. Though Roger Adams is the one who gets credit, there was a parallel discovery around the same time, and that was made by British chemist Doctor Alexander Todd. The two scientists were rather competitive in the late 1930’s and early 1940’s, each publishing their discoveries as they came across them, and likely spurring each other on to work harder and do more.

There was even some contention between them as they both raced to find the same thing – THC, and though neither did find it, they did identify the other major component of the plant. In later years they actually became friends and formed a partnership, but I expect the competitive nature between them is what sped up the discoveries they made.

Anyway, Alexander Todd is more notorious for his winning of a Nobel prize for his work with nucleotides, but before this happened, he got into studying cannabis at the relatively young age of 32. He worked out of the University of Manchester with a very small research group, but was still able to isolate CBD from a sample of Indian hash. The hash had to be carefully gotten to him, as cannabis was illegal in Britain starting in 1928. When he published his paper in 1940, Todd was required to register at the Home Office for holding 2.5kg of hash.

These two scientists exemplify the often meandering line it takes to get from point A to point B in scientific research. And though neither reached the goal of finding the intoxicating agent, in attempting to do it, they both became pioneers in the world of cannabis research. Together, yet separately, they discovered one of the main aspects of the cannabis plant.

Conclusion

It’s quite possible that Roger Adams and the unexpected discovery of CBD was very much helped along by his rivalry with Alexander Todd. Either way, neither scientist reached the goal of isolating THC, though Roger Adams was able to identify it. It took another 25 years until Raphael Mechoulam finally did the job in 1964.

In a way, CBD was found completely accidentally. Though it would likely have been discovered at some point, it wasn’t even conceived of at the time it came to light. Roger Adams and Alexander Todd were trailblazers when it came to cannabis research, paving the way for Mechoulam, and the industry as we know it today.

Hello all! Thank you for joining us at CBDtesters.co, the best online location for the most up-to-date and cutting-edge cannabis and psychedelics-related news from around the globe. Drop by regularly to stay abreast of the ever-changing universe of legal drugs and industrial hemp, and sign up for our newsletter, so you always know what’s going on.

DisclaimerHi, I’m a researcher and writer. I’m not a doctor, lawyer, or businessperson. All information in my articles is sourced and referenced, and all opinions stated are mine. I am not giving anyone advise, and though I am more than happy to discuss topics, should someone have a further question or concern, they should seek guidance from a relevant professional.

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Source: https://cbdtesters.co/2021/09/26/roger-adams-and-the-unexpected-discovery-of-cbd/

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Albert Hofmann: The Finding and Self-Experimentation of LSD

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The psychedelic boom is just beginning, with legalizations occurring, and new bills working their way through local governments to provide more psychedelic freedom. For those still unaware, psychedelics have been proving to be a valuable medicine in the fight against mental illness. When looking back in the history of medical psychedelics to where it started, it all comes down to one man, Albert Hofmann, and his discovery of LSD.

Albert Hofmann sure started something big when he discovered LSD, but it might be a while longer before LSD is legalized. If psychedelics continue like the cannabis industry, it should happen eventually. Luckily, for now we’ve got cannabis, and all its great medicinal and recreational compounds, like delta-9 THC, delta-8 THC, and a range of other minor cannabinoids like THCV, THCP, delta 10, HHC, THC-O and more. You can go ahead and check out our weekly deals.

What are psychedelics?

Psychedelics are drugs that contain chemical compounds that cause a psychoactive reaction in a user. Such reactions include experiencing hallucinations, which means hearing, seeing, feeling, tasting, and smelling things that aren’t there. Psychedelics are also associated with creating spiritual experiences and can promote feelings of connectedness between the user and others around. Users experience euphoria, relaxation, and well-being, while also experiencing mystical sensations. Psychedelics can alter mood, perception, and cognition, though different drugs can cause different effects, and the amount taken is important.

Psychedelics are a subset of hallucinogenic drugs, which themselves are a subset of psychoactive drugs. They can be found in nature, like magic mushrooms or peyote, or made in a lab like LSD or PCP. Though psychedelics have been found generally safe in testing, getting the dose correct is important. This is the same with any type of medication, and is not specific to psychedelics. A person who takes too much oxycontin might overdose and die, a person who takes too much LSD might have a bad trip.

‘Bad trips’ are characterized by negative, or even scary, hallucinations. Users can experience feelings of dysphoria, anxiety, and panic, as well as physical symptoms like dizziness, irregular heartbeat, numbness, vomiting, and sweating and chills. Bad trips have not been known to result in death, but can certainly be a negative experience for the user, and back up that careful dosing is very important.

Albert Hofmann LSD

Many psychedelics are serotonergic, meaning they interact with serotonin receptors in the brain. This will usually cause a rush of the neurotransmitter, followed by blocking reuptake to allow for more absorption. The neurotransmitter serotonin is responsible for many functions in the human body, from mood regulation and involuntary muscle control, to transmitting signals throughout the brain.

Historical use of psychedelics

Though we treat psychedelics like we don’t know much about them in mainstream life, there is plenty of evidence they’ve been used for thousands of years, although the context they were used in, may have been different from how they’re used today. Information that we do have was obtained from ancient texts, findings, and rituals.

For example, in the Sora River Valley of Southwestern Bolivia, a pouch was found containing traces of different psychedelic compounds including both harmine and dimethyltryptamine – used to make ayahuasca; bufotenine, a psychedelic compound found in toad skin; and psilocin, a psychedelic compound of magic mushrooms. The pouch is said to be from around 900-1100 CE according to mass spectrometry carbon dating. This is the earliest finding to show the use of the plants that combine to make ayahuasca.

Other research has pointed to use of psychedelics in Mesoamerica by the Mayans, Aztecs, Olmecs, and Zapotecs. The Mayans were known for drinking balché from Lonchocarpus bark extracts, which together with honey produces a psychoactive effect (the bark can itself, but is milder without the honey). It was used for group ceremonies to get intoxicated. The cultures mentioned used the peyote plant for mescaline, hallucinogenic mushrooms, and ololiuhqui seeds, which contain lysergic acid amide, a relative to LSD.

The near-East has also been a hotspot for ancient psychedelic findings. Several artifacts have been made in that region including residues, fibers, pollen, and carbonized seeds. In fact, traces of Blue Water Lily extract, a strong narcotic, were found in Tutonkamen’s tomb which dates back to the 14th century BC. In Lebanon, 10 liters of Viper’s Bugloss was found in a storage jar in Kami del-Loz temple from the late bronze age. Viper’s Bugloss is a very strong hallucinogenic compound.

What led up to Albert Hofmann finding LSD

History is all fine and good, but in today’s world we study things in labs. In modern times, the practice of studying psychedelics began in Switzerland with a chemist named Albert Hofmann. Born in 1906, in Baden, Switzerland, Hofmann finished his chemistry degree at the University of Zurich in 1929. Immediately after graduation, he began working for the chemical company Sandoz.

When Sandoz hired Hofmann, the company had only opened a pharmaceutical department a few years before in 1917, even though the company was founded in 1886. The pharmaceutical department started with the isolation of a compound called aotamine from a fungus called ergot, which can be found in tainted rye. Ergot has been used in natural medicine traditions for many, many years, since in small doses, it has been known to quicken child birth, as well as help with the bleeding after. However, when found in tainted rye, ergot can cause incredible illness. The scientist who isolated the compound, Arthur Stoll, wanted to isolate the part that caused the constriction that allowed for the medical advantages only.

He was able to do it, isolating the compounds ergotamine and ergobasine, which enabled the ability to dose very precisely, and without other compounds from ergot getting in the way. Within the next few years, researchers at the company were able to elucidate the chemical structures of different compounds of ergot thought useful, all of which share a common nucleus. This point at which all the compounds start, is named Lysergsaure (in German), or lysergic acid. These discoveries made a lot of money for Sandoz, and helped launch a pharmaceutical department for further research and development. This is the climate that Hofmann walked into when he was hired in 1929.

Albert Hofmann and the unexpected finding of LSD

When Albert Hofmann entered the picture, the Sandoz lab was busy studying ergot, and the compounds within. Hofmann was able to establish a synthetic process to build the ergot compounds using the chemicals that make them up. He was able to synthesize active components of ergot, along with similar compounds from other plants, that were thought to be possible for medical use. Hofmann did a lot of experimentation, combining lysergic acid with other compounds to see what kind of results occurred. He did this about 24 times before something big happened.

Hofmann had been trying to find a combination that could stimulate circulation and respiration. On the 25th occasion of combining lysergic acid with another compound, Hofmann used diethylamine, a derivative of ammonia. The compound it created, was called LSD-25 at the time, or lysergic acid diethylamide. Though it did not meet the needs specifically of what he was looking for, it was noted that the created compound caused excitability in animals during testing. At the time, LSD-25 was put on the backburner, but Hofmann couldn’t forget about it, saying it was “a peculiar presentiment—the feeling that this substance could possess properties other than those established in the first investigations.”

Five years later, he felt the urge to recreate this compound again, and this time, something very strange happened. He started feeling strange. It was a Friday, so he left the lab early and returned home. When he came back into the lab the following week, he wrote this to Stoll, who was his boss at the time:

“I was forced to interrupt my work in the laboratory in the middle of the afternoon and proceed home, being affected by a remarkable restlessness, combined with a slight dizziness. At home I lay down and sank into a not unpleasant intoxicated-like condition, characterized by an extremely stimulated imagination. In a dream-like state, with eyes closed (I found the daylight to be unpleasantly glaring), I perceived an uninterrupted steam of fantastic pictures, extraordinary shapes with intense, kaleidoscopic play of colors.”

What did he do next?

When Albert Hofmann first discovered the effects of LSD, he didn’t know what caused them. First, he thought he had been exposed to some kind of chloroform solvent, but when he intentionally breathed in fumes, he didn’t get the same response. It finally occurred to him that he might have actually ingested some of the LSD-25 he was working with, despite the fact that the only place he had made contact, was his fingertips. As it was understood ergot compounds could be toxic, a lot of measures were taken for safety. Upon realizing it might have been the LSD-25, Albert Hofmann did what any good scientist would do, he began experimenting on himself.

On April 19th, 1943, Hofmann dissolved 250 millionths of a gram of lysergic acid diethylamide tartrate (the crystalized version of LSD-25), and drank it down. He did this without giving a heads up to anyone at Sandoz except his lab assistant, and he didn’t expect anything to happen. He had taken such a small dose – with the intention of slowly increasing to find the right amount, that he hadn’t expected the response that he got. After about 40 minutes, he wrote this:

“Beginning dizziness, feeling of anxiety, visual distortions, symptoms of paralysis, desire to laugh.” Due to his condition, he had to have his lab assistant take him home, which due to wartime restrictions, meant riding on bikes. One can only imagine how funny that bike ride must have been! He later said this about the experience:

“Everything in my field of vision wavered and was distorted as if seen in a curved mirror. I also had the sensation of being unable to move from the spot. Nevertheless, my assistant later told me that we had traveled very rapidly. Finally, we arrived at home safe and sound, and I was just barely capable of asking my companion to summon our family doctor and request milk from the neighbors.”

Though the symptoms were frightening, as they were unexpected, a doctor’s visit confirmed that nothing was actually wrong with Hofmann. When he had calmed down, and could speak clearly about his experience, he said this: “Everything glistened and sparkled in a fresh light. The world was as if newly created. All my senses vibrated in a condition of highest sensitivity, which persisted for the entire day.”

Hofmann continued experimentation with himself and a couple close friends. He found the setting to be a very important factor in how the trip played out. Hofmann went on to introduce this new compound to psychiatrists in the mid-1900’s like Humphry Osmond and Ronald Sandison. Osmond conducted the Saskatchewan trials in Canada. In the studies, alcoholics were given LSD to quit drinking, and according to the studies, an entire 40-45% were able to do so for at least a year after only one dose. Sandison operated out of the UK, doing his own experimentation with acid. One of his experiments included using 36 psychoneurotic patients, all of whom were cured or showed improvement after using LSD, save for two. Both doctor’s developed their own strategies for the emerging psychedelic-assisted therapy, all based on Hofmann’s experiences.

Albert Hofmann LSD

Conclusion

The story of acid is obviously much longer than this, but this is how it started, with Albert Hofmann and his self-experimentation of LSD. Though LSD is currently Schedule I in the US, both psilocybin and MDMA have been designated by the FDA as breakthrough therapies, and Oregon has already legalized psilocybin for medical purposes. On top of that, esketamine, a close relative of ketamine, is already approved for depression and suicidal thoughts, and is in use in clinics all over America.

LSD is a synthetic psychedelic compound, though it has roots in the ergot plant. While it was the most commonly used medical psychedelic in the mid-1900’s, it was illegalized and demonized shortly after, only now gaining attention once again for its medical benefits. With the impending legalization of other psychedelics, one can only imagine that LSD will be coming soon too.

Welcome to CBDtesters.co, your premiere location for the most current and thought provoking cannabis and psychedelics-related news worldwide. Check out the site daily to stay abreast of the quickly-moving world of legal drugs and industrial hemp, and don’t forget to sign up for our newsletter, so you always know what’s going on.

DisclaimerHi, I’m a researcher and writer. I’m not a doctor, lawyer, or businessperson. All information in my articles is sourced and referenced, and all opinions stated are mine. I am not giving anyone advise, and though I am more than happy to discuss topics, should someone have a further question or concern, they should seek guidance from a relevant professional.

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Source: https://cbdtesters.co/2021/09/26/albert-hofmann-the-finding-and-self-experimentation-of-lsd/

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The Economic Impact of Cannabis | Cannabiz Media

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Research and economic data collected in recent years shows that the cannabis industry positively affects the economies in states and municipalities by creating more jobs, increasing real estate values, and generating tax revenue that is used for a wide variety of purposes. 

Employment Benefits from the Cannabis Industry

With the opening of cultivation facilities, manufacturing facilities, dispensaries, and retail stores to support the legal cannabis industry, jobs are created. In addition to jobs that are directly involved with the marijuana supply chain, there are hundreds of ancillary jobs needed to keep the industry going. These include accountants, lawyers, and many more.

It is estimated that the legal cannabis industry employed 321,000 full-time workers across the 37 states in the United States with operational medical and/or cannabis programs as of January 2021. Of those full-time jobs, 24% (77,000) were added during 2020 showing a significant growth trend as more states launch and expand cannabis programs.

When you add in the estimated eight to 10 ancillary businesses that are thought to support every one licensed cannabis company, the employment numbers skyrocket. Based on this data and future predictions, it’s clear that regulated cannabis markets benefit states’ economies by creating thousands or tens of thousands of new jobs.

Real Estate Benefits from the Cannabis Industry

States that have legalized medical and/or recreational cannabis are seeing a significant increase in property values and lease rates where licensed cultivators, manufacturers, dispensaries, and retailers can operate. 

Due to strict zoning laws in many areas, marijuana businesses have a limited supply of properties to choose from to build their facilities. Property owners understand this and face their own risks when they rent to cannabis-related businesses. As a result, lease rates and property values skyrocket.

It’s not just commercial property and land values that benefit from the marijuana industry. A study of Colorado municipalities published in January 2018 found that housing values increased by 6% with cannabis legalization.

Tax Benefits from the Cannabis Industry

One of the easiest ways to track the economic benefit of the legal cannabis industry to states and local municipalities is through tax revenue, particularly in states that have legalized both recreational and medical cannabis since adult-use taxes are typically much higher than medical taxes. In fact, some states don’t tax medical cannabis at all, but it’s not unusual for adult-use cannabis to be taxed multiple times (excise tax, state sales tax, and local tax) and at rates as high as 15%, 17%, or even 37%.

How much do all of these taxes bring in for states? According to Motley Fool, California brought in $1,031,879,926 in tax revenue in 2020 – the most of any state. In Washington State, tax revenue in 2020 reached $469,200,000, and in Colorado, 2020 tax revenue was $387,480,110. 

Taxes collected by states and local municipalities are used for a variety of purposes – from funding community programs, education, and law enforcement to paying for the costs to run the state or town’s cannabis program.

The Cannabis Industry Provides a Positive Economic Impact

When a state allows the sale of medical and/or recreational cannabis, its economy benefits. That’s the conclusion numerous researchers have made after analyzing a number of economic factors over the past several years. Specifically, employment rates, real estate values, and tax revenue all increase with the approval of medical and adult-use cannabis.

MJBizDaily reported economic data in its 2021 Annual Cannabis Business Factbook that puts the economic impact of a legal cannabis market into perspective. Consider these facts:

  • Total U.S. economic impact from cannabis sales in 2021 is expected to reach $92 billion (up more than 30% from 2020).
  • Total U.S. economic impact from cannabis sales will increase to upwards of $160 billion in 2025.
  • For every $1 consumers and patients spend at retail locations, an additional $2.50 will be injected into the economy – much of it at the local level.
  • California’s legal cannabis industry is expected to add nearly to $20 billion to the state’s economy in 2021.
  • Legal cannabis markets in Colorado, Illinois, Oregon, and Washington will each add more than $10 billion to their local economies in the coming years.
  • Nevada’s economic impact per person from the legal cannabis industry will be approximately $1,917 in 2021.
  • Legal cannabis markets in Alaska, Colorado, and Oregon will each deliver approximately $1,500 per person into their economies this year.
  • California will deliver an estimated economic impact per person of $500 in 2021.

Bottom-line, the data shows that the cannabis industry has a positive economic impact on states and communities, and that impact hasn’t peaked yet.

Originally published 11/13/18. Updated 9/24/21.

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Source: https://www.cannabiz.media/blog/the-economic-impact-of-marijuana

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CBD (Cannabidiol) Explained – The Real Benefits of this Trendy Cannabinoid

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While a fringe, alternative treatment option only a decade ago, today, CBD is everywhere you look – in wellness supplements, beauty and hygiene products, FDA-approved prescription medications, food and beverages, dental products, and even pillows, mattresses, and other random household goods.

As far as cannabinoids go, CBD, or cannabidiol) is the most widely accepted. Not only is there a growing body of clinical research to support its benefits, but it is non-intoxicating which makes it much more likely for laws to be passed in its favor – as is evidenced by the fact that CBD is federally legal in the US and many other countries, while THC still is not. But when it comes to CBD, what are some actual legitimate uses for this compound, and which ones are just marketing gimmicks? Let’s take a look at some of the real, science-backed benefits of CBD.

CBD is amazing, and so incredibly versatile. To learn more about this compound, and for exclusive deals on CBD flowers, as well as on Delta 8Delta 10 THCTHCVTHC-OTHCPHHC and even on legal Delta-9 THC! , make sure to subscribe to The CBD Flowers Weekly Newsletter, your hub for all things CBD-related.


What is CBD?

CBD, or cannabidiol, is the most prominent, non-intoxicating compound found in cannabis plants. When most people think of cannabis, they’re thinking about marijuana, which is the type so cannabis that is high in THC and associated with feelings of being “stoned”. Some types of cannabis, hemp for example, are high in CBD and contain only trace amounts of THC, meaning these plants can be considered non-intoxicating, by all accounts.

CBD is gaining popularity as a safe, non-toxic, non-addictive, natural treatment option for many different chronic and debilitating ailments; both mental and physical. Not only is CBD itself non-psychoactive, but when taken in combination with compounds that are, like tetrahydrocannabinol for instance, CBD can minimize the likelihood of negative side effects such as paranoia and anxiety that are occasionally associated with THC use.

The reason CBD (or any cannabinoid for that matter) works in the human body at all is because of the Endocannabinoid System (ECS) – a complex signaling system made up of numerous receptors, as well as some naturally produced endocannabinoids, that exists in the bodies of nearly all animals (except insects). Researchers have discovered two different endocannabinoids so far, 2-arachidonoylglycerol (2-AG) and anandamide (AEA), plus the two most studied receptors, CB1 and CB2. This quad makes up the majority of existing cannabis research.

As a whole, the ECS regulates numerous different functions and processes in our bodies and maintains internal balance and homeostasis. Many cannabinoids engage directly with the ECS receptors. Others, like CBD, have indirect connections by activating other receptors that will then interact with the endocannabinoid system. Specifically, CBD activates the TRVP1 receptors, which in turn activate receptors in the ECS and also function as ion channels.

CBD as an Anti-Inflammatory

One of the most common uses for CBD is to treat inflammation, which is the body’s process of fighting against pathogens and other hazards, such as infections, injuries, and toxins. When something damages your cells, your body releases chemicals that trigger a response from your immune system, thus causing inflammation.

The phrase “too much of a good thing” really applies in the case of inflammation. When this inflammatory response lingers after your body is done fighting the infection or whatever it is trying to overcome, this leaves your body in a constant state of stress and unrest. Chronic inflammation can have devastating effects on the tissues and organs and research indicates that it’s the root cause of many ailments including arthritis, contact dermatitis, acne, multiple sclerosis, and type 1 diabetes, asthma, and cancer.

Cannabidiol is becoming a very popular alternative for standard NSAID (Nonsteroidal anti-inflammatory drug) drugs like Aspirin. Long-term use of NSAIDs can lead to various health problems such as heartburn, stomach pain, ulcers, headaches, dizziness, and even damage to the liver and kidneys.

CBD to Manage Anxiety

Anxiety is another condition that’s been researched extensively to determine how well it responds to cannabis therapies. Cannabidiol targets cell receptors in the body and brain that regulate your mood. Many mood disorders, including anxiety and depression, have a few things in common, including a lack of naturally produced endocannabinoids.

Treating mood disorders with CBD is becoming more widespread is among the top-rated treatment options for young adults ages 25-40. According to a study conducted a couple of years ago, thirty-four percent of millennials prefer to manage their mental health with natural and holistic remedies, and 50 percent of millennials believe CBD oil is the best way to do this; and this number continues to grow.

The main reason cited was a fear of being prescribed a medication that is too potent for their level of symptoms. Because CBD doesn’t have the mind-numbing and other unwanted side effects of prescription drugs, nor is it psychoactive like THC, it can be used all day like any other medication or supplement.

CBD for Controlling Seizures

One of the first, medically-accepted, modern-day uses for CBD was to treat epilepsy. There are many studies out there researching its effectiveness. As a matter of fact, there is even an FDA-approved, cannabidiol-based medication, Epidiolex, that’s used to treat two rare and severe forms of childhood epilepsy, Lennox-Gastaut Syndrome (LGS) and Dravet Syndrome (DS).

Epidiolex is currently being prescribed in the United States, many countries in Europe, and Japan. Epilepsy medications can have some very serious side effects, and that’s why more natural alternatives are becoming the go-to ­­way to treat children and younger adult patients who suffer from epilepsy.

CBD for Pain Management

Although not common, many patients turn to a CAM, or complementary alternative medicine approach, to manage chronic pain. CBD is at the top of the list for those looking for natural, yet effective, alternative remedies. Because inflammation is the root cause of so many conditions that cause chronic pain, it makes sense how CBD eliminates pain.

Numerous different studies have found that cannabinoids like CBD can help with chronic pain from multiple sclerosis, cancer, and neuropathy. CBD and CBD topicals help with pain — if you suffer from chronic pain, CBD oil may help, as well. Chronic pain can be the main source of a diminished quality of life — CBD may give you hope for getting pain-free, or at the very least, reduced pain, and anything is worth a try.

CBD for Skin Conditions

Studies have shown that CBD can provide relief for the symptoms of various skin disorders, such as eczema and allergic reactions. Reverting back to ​inflammation, we know that cannabidiol can be used internally inflammatory conditions, and now we also know that it does the same when applied topically.

Topical creams containing CBD have been shown to ​or greatly reduce and sometimes even completely eliminate itching and dryness​ ​in sufferers of eczema. The chemical ‘histamine’, which is largely responsible for the irritating itches we experience, has been shown to react well to topical cannabinoid therapy. One study​ ​found that in almost 59% of its participants, their dry and scaly skin significantly reduced with the regular use of a cannabinoid cream, which reduced itching and as a result lead to less sleep loss.

Final Thoughts on Cannabidiol Benefits

Simply put, cannabidiol is an incredible compound. It’s non-psychoactive, non-toxic, and non-addictive; and it can be used to treat dozens of different health conditions. The ones covered in this list are the most common uses for CBD, but it can be utilized for many other ailments as well. Do you use CBD? And if so, what do you use it for? Drop us a line in the comment section below!

Thank you for stopping by CBD TESTERS, your hub for all things cannabis-related. To learn more about weed, and for exclusive deals on flowers, vapes, edibles, topicals, and other products, make sure to subscribe to The CBD Flowers Weekly Newsletter.

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Source: https://cbdtesters.co/2021/09/23/cbd-cannabidiol-explained-the-real-benefits-of-this-trendy-cannabinoid/

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