A multi-billion Canada marijuana industry takes shape
While Washington and Colorado have forged ahead with marijuana legislation, the new marijuana King is obviously going to be Canada in North America. Marijuana grows all over the world as democratic as grass, but Europe and America have reached where nobody reached before. Medical uses for epilepsy alone would be enough to ensure marijuana immortality, but many more medical benefits guarantee that the green gold would never fade from human consciousness. Researchers now talk about marijuana benefitting brain cancer, Alzheimer’s, Type 2 diabetes, schizophrenia and many more health evils.
Perhaps by 2017, Canada would legalize pot recreationally in addition to the already legal medical cannabis since 2001. If that happens, pharmacies and liquor outlets would sell pot. Dope business in America is still tricky since you are not allowed to open bank accounts and do business with large investors. US businesses are now looking across the border at Canada for vast markets. Private Holdings in Seattle opened up a medical cannabis business in Canada in 2014. The market would work both ways with Canada exporting the stuff to America too.
Comparing the statistics, the US cannabis industry is worth $4.3 billion, but Canada with 30 legal companies now brings $150 million.
Alaska is well on the way
Many hurdles need to be crossed before the laws are finally put into action. Regulators approved the first licenses for growing and testing marijuana legally! Retail licenses should be issued soon within this year. The Marijuana Control Board in Anchorage reviewed thirty applications. Except for two testing programs, the rest had applied for growing marijuana licenses. After the granting of licenses, businesses need to undergo background checks and complete local formalities in some cases.
Potency and toxins would be the agenda at the testing facilities, but how many of them would be approved is not clear. Though Alaska legalized medical marijuana, federal authorities have not given the green signal yet.
The marijuana definition
While US laws describe hemp as parts of the cannabis sativa plant that does not possess psychoactive properties, Health Canada states that hemp from cannabis sativa does not contain more than 0.3% of THC. One definition considers all varieties of marijuana and hemp as belonging to the same genus of cannabis and the species sativa. Yet the term cannabis or marijuana refers to the plant that yields trichomes that contain powerful resin. Tetrahydrocannabinol or THC possesses psychoactive characteristics. Hemp seed, oil and fiber have had a large range of industrial and cosmetic applications for many generations.
