This week has been yet another unprecedented week in the history of the presidency of the United States. It is difficult to pick which controversial issue to talk about nowadays, the Trump presidency really seems to be an endless pool of golden political material.
Attorney General Jeff Sessions(R), has been a man known to fall into controversy surrounding delicate situations in the Alabama government during his time there. More specifically, he has been accussed of direct racism and discrimination in past cases.
Now finding himself among another controversy, this one perhaps carrying a little more attention, Sessions has given himself a shaky reputation by stating he is "unable to remember" many crucial details sorrounding the ongoing Russia investigation.
This week the Attorney General managed to somehow upset another group of people, this time one that crosses both sides of the aisle: Cannabis Users.
Reversing Obama-era legislation that relieved much of the pressure from the federal government to persecute businesses and individuals that are involved with Cannabis, he has shaken the ground and has put many businesses and patients in medical and legal jeopardy. Business owners who sell medical Marijuana in states that permit it just recently has a sense of peace operating knowing that they would have a slim to none chance of getting raided, their patients harrassed and their money taken. This week, all of that is changing once more as Jeff Sessions gives more power and stronger jurisdiction to the federal government to impose the federal law on marijuana which classifies it as a class II substance.
These changes may have a serious negative impact on many patients nationwide that rely on Cannabis for medicinal purposes. This includes thousands of children suffering from neurological disorders, veterans dealing with mental health issues such as PTSD, and millions of patients struggling with chronic pain.
Something Worth Mentioning: In states which have access to medical marijuana there has been over a 75% decrease in opiate related deaths. Cannabis has been helping recovering addicts and users wing off opiates by helping with many side effects and withdrawal symptoms.
What Does This Mean for Crypto?
Can weed affect crypto? Well to be fair, many things can affect block chains. Just like many things in this world, human speculation plays a major role on the price of crypto tech. A lot of us try to steer the idea that crypto currencies are used to purchase drugs, away from the mainstream and with good reason. However the fact remains that these transactions do happen, and the majority of them happen through crypto currency.
With ever changing marijuana laws secure transactions through crypto might be more necessary than ever for drug dealers, and the market is hot and ready. Although it's a darker picture of our beloved technology, it is an angle that can help steer our conception of our investments for what they truly are: we are invested in technologies that affect every single industry with no sign of expiration date or danger of becoming obsolete.
Let's see what 2018 brings.
What are your thoughts on the issue? Comment and share!