What do you think about cryptocurrency ICOs in the cannabis market?
Jason Thomas replied:
ICOs are very speculative at this point, regardless of the platform/business. ICOs are viable but with the contention surrounding cryptocurrency exchanges in the US and Asian and the contentiousness of the industry, an ICO isn't the way to go. However, it is a novel way to fund a company.
I am not an expert in ICOs, but I find them to be a potential landmine, especially when combined with all of the challenges facing the cannabis industry. I think that there could be a great role for blockchain in the cannabis industry and am tracking Tokken, for example. I have seen 4 companies positioning for ICOs, and I would be very careful in all cases. Lots of hype! We published a guest piece: https://www.newcannabisventures.com/the-dangerous-intersection-of-cannabis-and-cryptocurrency-icos/
Jason Thomas replied:
ICOs are very speculative at this point, regardless of the platform/business. ICOs are viable but with the contention surrounding cryptocurrency exchanges in the US and Asian and the contentiousness of the industry, an ICO isn't the way to go. However, it is a novel way to fund a company.