Recently, Ecuador has legalized the growth of cannabis (hemp) , excluded it from the control list provided by the country’s Comprehensive Organic Penal Code (COIP), and placed the plant under the jurisdiction of the competent agricultural authorities. The Ecuadorian Ministry of Agriculture and Livestock must issue the cannabis regulations within 120 days after the enactment of the law in late June. —
Meanwhile, hemp farmers in Michigan are looking to industrialize the cannabis plant in new ways and beyond the use in dispensaries. Legislation that passed the Michigan Senate on June 25th could make that a reality.
While industrial cannabis is gradually legalized, the CBDY Foundation, a whole industry chain group that integrates cannabis seed nursery, cannabis cultivation, cannabis extraction and cannabis related product sales, has been a top player in this field for a while.
The CBDX foundation has been authorized to grow and sell medical cannabis by the Health Canada according to ACMPR. Deeply cultivated in North America for years, it has become one of the major suppliers for some well-known health products in Canada, and provides high-quality QQTAP (Triple Test Quality Assurance) solutions.
The company's revenue growth in the Q2 of fiscal 2020 was impressive. Due to the public health issues, the revenue growth rises sharply. It is reported that public health issues cause anxieties, sleep disorders and other mental health problems. While medical cannabis has proven to help solve such problems, the demand for industrial cannabis has risen, so the performance of most industrial cannabis companies has grown strongly.
The point man for CBDY indicated that the medical marijuana market is worth hundreds of billions of dollars, and the blockchain can promote the safe exchange of value in a decentralized way, eliminating the need for intermediate institutions. Blockchain-based applications can manage, allocate, and coordinate resources and activities, as well as facilitate interaction between all participants, without the need for central arbitration.
Under the vision of restructuring the platform by holding rewards, the CBDY Foundation issued the CBDY token based on the Ethereum ERC20 standard, and opened for trading on the cryptocurrency exchange CBDEXS. Its market value has risen steadily.
Thanks to the growth of CBDY market value, the user growth of CBDEXS, the exchange which has listed CBDY, also showed strong momentum in Q2. CBDEXS is a professional blockchain and cryptocurrency trading service platform for industrial cannabis blockchain projects. CBDEXS said that during the public health issues, the demand for industrial cannabis may continue to rise, hence blockchain projects based on industrial cannabis will bring more attention.
In the future, CBDEXS will continue to provide cryptocurrency transactions for industrial medical marijuana, allowing marijuana investors to better embrace the current economic dividends brought by the marijuana industry.
Release ID: 88968839