Is There Any Hope For Medical Cannabis Coins? (Part 1)

July 23, 2017

Paying for medical cannabis, in general, is still a major issue, no matter where or who you are. Why bitcoin or other digital coins are not the solution.

There are also two aspects to this problem, particularly for patients. The first is paying for medical cannabis in the first place. The second is being able to afford it at all. For now, both banking services and insurance coverage are off the table in the United States because of the Schedule I classification of cannabis. In other places, patients still struggle with the second issue.

Most americans, for example, cannot pay for medical cannabis using bank or credit cards. Germans can pay with their bank cards for medical cannabis at pharmacies. The problem is that at the moment prescription costs are running at about $2,000 a month. And while Canadians can both pay and order online, as well as get home delivery direct from licensed producers, cost is still a huge issue in a world where insurance coverage is problematic.

While some U.S. dispensaries and legal CBD businesses are finding creative ways to establish bank accounts with those institutions willing to work with them, this is not a benefit that remits to patients. In fact, quite the opposite. Banking fees for dispensaries who can get banking services sometimes run in the several thousands of dollars a month. These costs are obviously passed on to clients.

This in turn has multiple knock on effects. It means that retail cannabis is more expensive. It also means that delivery services are out – or at least harder to access. For patients who cannot drive in the first place, this is a double blow. How does one get access to a cash machine to pay a driver who must take a cash payment for the delivery?

Adding final insult to injury, even in those places where home-grow is legal, even paying for seeds in online shops in jurisdictions where this is legal is also frequently problematic. Why? The rules of international credit cards all follow American banking law. So does Paypal, despite Peter Thiel’s other very public investments in the medical cannabis and  CBD industry.

Might there be a way to save time and money for patients by exploring another payment system? Especially one that would facilitate if not verify compliant medical deliveries. And further, could loop in dispensaries and growers? If not allow patients to at least get seeds delivered so they could grow their own medication at home?

Continue reading: Is There Any Hope For Medical Cannabis Coins? (Part 2)

 

The post Is There Any Hope For Medical Cannabis Coins? (Part 1) appeared first on Cannadelics.





Also in Education

Owning Guns is a Constitutional Right, Unless You’re a Cannabis User

September 28, 2022

Take two of the most hot-button, tendentious issues of our time – cannabis use and gun rights – combine them, and now we really have a debate. As the law currently stands, medical cannabis patients are not afforded their 2nd amendment right to bear arms. Technically, all cannabis consumers are banned from buying guns, but only medical […]

The post Owning Guns is a Constitutional Right, Unless You’re a Cannabis User appeared first on Cannadelics.

Continue Reading

Cannabis policy changes in Africa are welcome. But small producers are the losers

September 28, 2022

TESTSTSARDSAR

Cannabis policy changes in Africa are welcome. But small producers are the losers by Clemence Rusenga

Cannabis is a drug crop with a long history in Africa. Alongside coca and opium poppy, it has been subjected to international control for nearly a century. The International Opium Convention of 1925 institutionalised the international control system and extended the scope of control to cannabis. In 1961 a new international convention was adopted to […]

A link to your site, with your site's name and description as anchor text.

Continue Reading

University of Sydney to Offer Free Cannabis Testing

September 27, 2022

TESTSTSARDSAR

University of Sydney to Offer Free Cannabis Testing by Johnny Green

The University of Sydney is launching a fairly robust study in an attempt to, as the university describes it, “investigate cannabis consumption, behaviours, and attitudes among users.” Part of the study involves offering free, anonymous cannabis testing for people that cultivate their own cannabis in the Australian Capital Territory (ACT). Cannabis was decriminalized in 2020 in the […]

A link to your site, with your site's name and description as anchor text.

Continue Reading