What business space should people like into the future? Cryptocurrency or Recreational Marijuana?
For a successful business, one must predict the requirements of the market before the competition rather than just following the trend. Without a doubt, such a prediction involves huge risks but they are very fruitful in the long run. Even the invention of internet faced a high degree of skepticism but it gave rise to countless online commerce companies such a EBay and Amazon. So right now, which could be the best space for business for people to look into? There are lots of businesses that have room for growth in the future and they will certainly grow. Two of them are discussed below.
Back in year 2017, Bitcoin had hit a USD 20,000 mark in mid of December. It then fell down to USD 11,000 but kept fluctuating between USD 13,500 to USD 15,500 since the eve of new year 2018. Today it is around USD 7,400 because it was banned by many countries including China. Many of the other countries have banned cryptocurrency as a payment tool even if it is legal.
The future aspects of cryptocurrency largely depend upon how the countries react to it because of their different political systems and ideologies because promotion of cryptocurrencies will result in an enormous amount of wealth generation. Another aspect of cryptocurrencies is that they are not centralized geographically, which will result in a wide distribution of money which will make the banks and government unhappy. It is really hard to say that cryptocurrency shall could have a brighter future in terms of business unless nations take part in the evolution of money.
The future of marijuana is a controversial topic. People who are pro-marijuana highlight the medical benefits and the potential increase it could make in tax revenue while anti-marijuana people highlight the evident risks it poses to children and the potential to lead them towards serious drugs like cocaine or meth.
According to Sara Gullickson, Founder & CEO of Dispensary permits (a company which helps entrepreneurs obtain marijuana licenses and build marijuana business) said that:
“Once the Federal Government accepts marijuana, we will see opiate deaths reduce substantially. Marijuana will evolve into an Exit Drug, not a Gateway drug, and will be wildly accepted for its medicinal and wellness properties. It will become a standard household item, and not just another highly profitable tax generator”.
Marijuana is now legal in 29 states and the District of Columbia for recreational or medical purposes and the public acceptance also continues to increase at a rapid pace. It has also been proven useful in various medical treatments which could attract the investors from biotech and healthcare industry.
In America, USD 6.7 billion was spent on recreational and medical cannabis in 2016 even though the marijuana was illegal and the sales continue to rise significantly with each passing year. If marijuana were to be legalized in most of the world, it would prove to be a good business space for investment in terms of agriculture (growing marijuana), biotech, consumption, derivate products of marijuana and industrial hemp.