A cryptocurrency project previously sanctioned by the U.S. Securities and Exchange Commission (SEC) is selling a property that it had intended to use as a cannabis co-working space.
The firm, ParagonCoin, revealed the news in a filing with the SEC late last month, stating that, while it had anticipated that its native PRG token could be used by marijuana-industry startups to pay rent for the shared office space, the property is now under contract for sale.
The crypto industry has drawn comparisons with the cannabis industry quite often, especially in the last year.
Technology giant IBM has advised the British Columbia (B.C.) government to use blockchain technology to track the entire supply chain of legal marijuana.
As Canada prepares for the legalization of recreational, non-medical cannabis next year, US technology giant IBM has urged the B.C. government to adopt blockchain technology to track the marijuana supply chain, from seed to sale.
In its submission to the B.
IBM is promoting the use of blockchain technology in the legal distribution of cannabis.
According to a document issued to inform to the government of British Columbia, IBM is touting the use of blockchain in order to ensure consumer safety and to include regulatory oversight in the legal distribution of cannabis "from seed to sale.