Past few months, the cannabis industry has slowly been seeping into the mainstream. For example, various independent studies have shown that the number of ads related to CBD oils, creams and gummies has increased exponentially over the past 180 days.
With that being said, it is worth pointing out that the CBD industry is being shaped by other upcoming domains such as crypto and blockchain. And while this comparison may sound weird initially, the similarities shared by the two sectors are quite astounding when looked at closely.
CBD industry – A Deeper Look At The Matter
When looked at closely, we can see that the people who are drawn to the crypto market are also the same people who have previously invested in the CBD industry.
Rapid market growth has seen more and more CBD oriented companies pop up across the world every day— a phenomenon that is not alien to people who have previously been involved with the crypto sector.
CBD market is surging
As things stand, the CBD market is surging like never before. This is demonstrated by the fact that many analytical firms have estimated that this market will be worth $22 billion by the end of next year. This prediction is based on the fact that more than 30 states in the US have now legalized recreational or medical cannabis use.
Not only that, but the recently approved ‘US Farm Bill’ has also exempted CBD and other low-THC cannabis products from being subject to the ‘Controlled Substances Act’ (as a result of which the buying/selling of CBD based products has become way easier for the common man).
Learn More About CBD
As you probably know, CBD is a core component of the Cannabis plant that does not produce the feeling of getting high (since it does not contain any psychoactive agents such as THC). In addition to this, a host of studies released by researchers across the globe have demonstrated that CBD possesses properties that are known to help cure things such as anxiety, depression, seizures etc.
Other Key Points Worth Keeping In Mind
- A number of Silicon Valley-based startups are now making use of CBD based products to treat stress-related symptoms being exhibited by their employees.
- Many market experts believe that the opioid epidemic that is currently affecting a majority of the western world can be curbed to a large degree through the use of CBD based treatment methods.
- Since the CBD market is largely untapped at the moment, the chances of novel breakthroughs/ innovations coming from within this industry are quite high.
In rounding off this piece, we can see that the crypto section (much like the CBD industry) has witnessed a major change in its image over the past year or so. For example, back in 2014, Bitcoin was mostly thought to be a payment option for dark web users and drug dealers. However, now market leaders from firms such as Morgan Stanley, Nasdaq, and Fidelity are flocking towards this burgeoning domain like never before.
It now remains to be seen, what the future holds for the CBD industry at large.
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