Despite marijuana being recreationally legal in eight states and medically legal in 28, we still can’t use credit or debit cards to buy it. Although legal weed in the U.S. has become a multi-billion-dollar industry, most federal banks, including those in Oregon, still refuse to work alongside dispensaries due to the risk of government backlash.
Want to Get High? There’s an App for That
To mitigate the major hassle of paying for cannabis and cannabis products, a team of investors and web developers have created a pay-by-token system that works via a smartphone app called GreenMed.
Rather than have dispensaries use debit or credit cards directly, the GreenMed system allows pot shops to use Ethereum tokens, which work similarly to Bitcoins, and can be exchanged for actual money.
The company’s website explains how customers can use GreenMed to buy cannabis, and it appears to be a simple process: after downloading the app, clients enter their credit card information, then select a local dispensary from a list provided.
A page will then open with a list of products currently available at the dispensary of their choice; the customer will select the products they want to buy, pay with their card, and the pot shop receives virtual-reality tokens that automatically send credit to its company bank accounts. Clean, easy, and cashless.
The creators of the app hope that once it is launched, businesses that are unable to use banks to store their money will be protected from the risks of storing and transporting large amounts of cash.
Making Weed Safer for Consumers
In other weed news, a system of seed-to-sale tracking in Oregon will be implemented on December 1.
To reduce activity on the black market, the tracking program will monitor the production, processing, and transfer of pot that is designated for medical use as it’s sold in stores. The Oregon Health Authority has released a set of guidelines to assist industry members in complying with the new rules.
Finally, the Oregon Liquor Control Commission has released a new set of pesticide-testing rules for cannabis. Starting September 1, every bit of pot produced to sell – medical or recreational – must first be tested for pesticides, which can be harmful not just to users, but to our state’s delicate ecosystem. As with every new pot law these days, the new rules are presided over by the OLCC and not the Oregon Medical Marijuana Program.
The Oregon Health authority is responsible for the new rules, and its officials have both increased batch testing sizes and created more facilities where marijuana can be tested. Producers, growers, testers, and retail workers can read about the new rules on the Oregon government website.
By Kiki Genoa