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The History of Cannabis – A Quick Look At The History of the Plant

The cannabis industry in the United States and across the world continues to expand at a rapid pace. Canada, Jamaica, Argentina, Spain, The Netherlands, even Russia have either decriminalized cannabis for personal use or legalized recreational use, growing and the sale of cannabis. There are many other countries and regions where legalization and decriminalization are happening as well. As the world becomes more accepting of cannabis and begins to remove the stigma, we should take a closer look at the history of cannabis.

s2s insurance, eric rahn, cannabis history, cannabis insurance, marijuana lab testing insurance, liability insurance for cannabisMuch of the reasoning behind the legalization of cannabis deals directly in the history of cannabis. Cannabis is not something that hippies discovered for the first time during Woodstock. The use of cannabis in medicine can be tracked as far back as 5,000 years ago to Asia. It showed up in the Americas with the first European settlers because of it’s textile uses. Below is an excerpt from “A Complete History of Marijuana, According to Scientists” found at Marijuana Moment.

Before its medical properties became known, the fibrous plant was commonly used for textile manufacturing. Archeologists have discovered “sophisticated plaited basketry” based on cannabis at Czech Palaeolithic sites, for example.

“In fact, it has been referred to as the oldest known cultivated fibre plant and even today it is used as a constituent of fishing nets,” the researchers, who are from Italy and Sweden, wrote.

There are a couple schools of thought on this topic. But from a “Western-centered viewpoint,” researchers generally believe that natural events caused the plant to be accidentally burned, inadvertently revealing its “psychotropic nature.”

There’s certainly room for debate on this, but the researchers said that the timeline started about 5,000 years ago in China. The so-called “father” of Chinese agriculture, emperor Chen Nung, included the plant in the first Chinese pharmacopeia. That text said cannabis was prescribed for “fatigue, rheumatism and malaria.”

Marijuana didn’t show up on American shores for thousands of years after it was first discovered. It was “not known in the Americas until the ar

rival and settlement of the first European colonists,” according to the researchers. “During this period [cannabis] was used primarily for the strength and the resistance of its fibres.”

Swedish botanist Carl Linnaeus coined the term “Cannabis sativa” in the middle of the 18th century, the researchers wrote. Subsequently, French naturalist Jean Lam

ark distinguished between Cannabis sativa and Cannabis indica, writing that the former was a European plant and the latter came from “Indian origin varieties.”

history of cannabis, S2S Insurance, David Rahn, marijuana crop insurance, dispensary insurance, cannabis recommendationsThis snippet of the history of cannabis tells us that it has been around a long time with many uses and possible benefits. What the history of cannabis also tells us is that we are likely only scratching the surface as to what the full benefits of the plant are. Due to the Schedule I status of Cannabis, which makes it a controlled substance in the United States, there has been limited ability for scientists to study cannabis. Legalization of cannabis allows for scientists to take the history of cannabis and use modern scientific testing technology and knowledge to understand the plant and its benefits better. At S2S Insurance Specialists, we not only want to help you with your risk management needs, but we are also cannabis legalization advocates. A better understanding of the history of cannabis, the benefits of cannabis and the legal implications of cannabis, assists us in helping our clients in this complicated field. Contact Eric Rahn today for your cannabis business risk management needs.

read more at marijuanamoment.net

Cannabis Cash Creates Threat For Cannabis Business Owners

The cannabis industry is growing year-over-year as individual states legalize the plant. The industry is growing because of legalization, but also because of market demand. People are spending their hard earned cash on cannabis every day, which therein lies the problem. Cannabis cash is not accepted by most financial institutions and leaves cannabis business owners with few options on how to deal with the surplus of cash. When we reference cannabis cash, we are speaking directly to the actual printed currency used in transactions. Because financial institutions are beholden to federal law, most financial institutions frown upon participating in any transaction that involves the exchange or use of cannabis cash.

s2s insurance, eric rahn, marijuana insurance, dispensary insurance, lab testing insurance, cannabis cashAs long as the federal government views cannabis as a Schedule I drug along the lines of heroin and cocaine, financial institutions are at risk of being audited, fined, and possibly shut down for violating federal law if they partake in any transactions using cannabis cash. At S2S Insurance we see the accumulation of large amounts of cash problematic for a number of different reasons. “Cash Only” businesses invite criminal activity because criminals have an opportunity to obtain a large amount of cash that cannot be traced and can be used quickly to avoid capture. Cannabis business owners become targets for breaking and entering, robbery, and vandalism. An attempted robbery whether successful or not can leave a great deal of property damage, from broken windows or doors, to broken equipment, display cases, vaults or point of sale devises. That type of damage is costly to any business owner, not just those in the cannabis industry.

The marijuana business is booming in the US. According to a report from the investment bank Cowen, legal marijuana is set to hit $75 billion in sales by 2030, putting it on par with soda consumption. Marijuana cultivators are now listed on the NASDAQ, have former politicians on their board, and are backed by heavyweight investors like Leon Cooperman.

But for many big institutions, the risks of banking and lending to the cannabis industry under the current federal mandate just aren’t worth it, especially with all the extra paperwork and scrutiny it can generate.

“For cannabis businesses, this means that access to the basic financial products like checking and savings accounts can be elusive,” John Hudak, a senior fellow at the Brookings Institution who studies issues pertaining to marijuana legalization, told Business Insider.

s2s insurance, eric rahn, marijuana insurance specialists, liability insurance for marijuana, dispensary insurance, cannabis cashTyler Beuerlein, a VP at Hypur, an Arizona-based fintech startup that acts as a middleman between banks and cannabis companies, told Business Insider that he believes there are “less than 30” banks willing to do business with the booming cannabis industry in the US.

That means the costs of doing business and remaining compliant with the byzantine patchwork of state and federal laws guiding the cannabis sector are much higher than in any other industry.

Every cannabis business owner that has the “cannabis cash” problem, should take the first step in protecting their business by getting cannabis insurance. Standard insurance polices will not be enough because of the uniqueness of the cannabis industry. Cannabis business owners should be working with experienced cannabis insurance specialists like Eric Rahn of S2S Insurance, to help determine the right risk management strategies for their business.

read more at businessinsider.com