Amazon is an American multinational company whose headquarter is in Washington. It focuses on e-commerce, artificial intelligence and cloud computing. Along with Google, Apple, and Facebook, Amazon is one of the four big technology companies in the world.
Amazon reached to this level by financing on ever-increasing trend of people’s reliance upon e-commerce. E-commerce helps in supplying products swiftly and more easily as compared to retailers.
With the passage of time and modernization, the trend of buying from physical retailers is diminishing. People prefer to order online while sitting at home rather than go out and buy. The customers now expect from companies to market their products online. The web has modified almost every aspect of the retail section.
Strict government rules
But there is one sector that is still in a phase to transition online and that very sector is cannabis. Companies dealing in cannabis are still trying to market and sell their newly legal products online with strict government rules. Taking an example of Canada, where cannabis got legal last year, only two of the ten provinces—Saskatchewan and Manitoba—authorized the sale on websites that are too, non-government. Adding to that, cannabis companies cannot run advertisements on social sites like Facebook, Instagram and not even Google.
Whereas, the response of people of Canada is entirely opposite. Since cannabis legalization, companies in both Saskatchewan and Manitoba have experienced a great demand for cannabis ordered online.
In spite of the marketing restrictions, any retail cannabis company that is not trying to establish itself through e-commerce is rapidly making itself old fashioned. Customers prefer convenience in buying something and in case of cannabis products, nothing is more reliable and easier than the Amazon model.
Some firms offer web services specially designed to emancipate cannabis companies. CannaOne Technologies Inc. is a kind of e-commerce company for the cannabis products. Its product, Bloomkit, is an enterprise software solution that aims to deliver anything that a cannabis firm needs to sell or market online. The feature that discriminates Bloomkit from other e-commerce platforms dealing in cannabis is that it engages artificial intelligence to accumulate data from purchases. This permits CannaOne to manage supplies at a faster rate.
Through Bloomkit, BWell was generated that is actually the first marketplace. It is basically targeting the people of United States of America. It engages customers in that region who are looking for CBD products with CBD retailers. BWell has more than 11,000 subscribers till now. Apart from BWell, there are other platforms as well such as LeafLink and Green Marimba that provides useful services regarding cannabis.
As more states legalize and liberalize cannabis laws, there will surely be an ever increasing market of cannabis products. According to a rough estimate, more than $66 billion are projected to spend by users on cannabis products in the US alone. And the major portion of that will be accomplished through e-commerce. Hence, there is a greater capacity and opportunity for cannabis firms to make the best out of it using the available resources.
United Kingdom has still a long way to go before legalizing cannabis in the country
Though the United Kingdom is in favor of cannabis legalization, it is still illegal in the country. Let us go through the marijuana sector of the United Kingdom.
Some facts about cannabis consumption in the United Kingdom
The people residing in the United Kingdom strongly favor the legalization of cannabis. But it is limited only to the back door market. There are more than 2.5 million cannabis users in the UK who buy it illegally as reported by the Cannabis Consultancy Prohibition Partners. It makes up almost 4% of the total population of the United Kingdom carrying a worth of more than £5 billion.
It is important to note that 22% of the country’s population smokes tobacco, which makes up the revenue of almost £18 billion annually. Whereas, 60% population of the country drinks alcohol regularly ranging a worth of almost £68 billion.
Legalization of cannabis in the United Kingdom
In 2018, the UK legalized the use of cannabis for medical purposes. The major reason behind its regulation was many high-profile cases of epilepsy in children came to light. Cannabis-related medications became the pain reliever for those patients suffering from such high profile epilepsy cases. Still, the use of cannabis for medical purposes is extremely less.
Only the specialist consultant from General Hospital can prescribe it. The UK also allowed hemp oil and CBD, containing less than 0.2% THC, in the country. But a medical license is mandatory for using them too.
Which country is the largest exporter and producer of legal marijuana across the globe?
Although the stance of the government of the United Kingdom is much strict for cannabis users, it is the largest exporter as well as the largest producer of legal medical marijuana in the world according to the reports of United Nations International Narcotics Control Board. This clearly shows that the UK exports all the legal cannabis products manufactured by the country.
There are only two products of medical marijuana in the UK that have a license. One is Sativex which is produced by GW Pharmaceuticals and the other one is Nabilone owned by Eli Lilly.
The contradictory policy of the United Kingdom
It is evident from all the facts mentioned above that the government of the United Kingdom is still confused about whether to legalize marijuana in the country or not. While it is the largest exporter and producer of cannabis, it is very tough for patients of the country to have access to the products of medical cannabis.
This shows the sanctimonious face of the country and it would probably cause difficulties for the cannabis industry in England including the monopoly of licensed manufacturers, high cost and barriers for the new entrants.
Some top-notch stocks of the United Kingdom
Though there are many difficulties for marijuana companies in the UK, there is a large range of public companies. According to the London Stock Exchange, most companies have other side businesses too other than cannabis. Some top cannabis stocks of the United Kingdom are GW Pharmaceuticals, Futura Medical, Integumen, AfriAg, and Sunrise Resources.
New Jersey still waiting to Regulate Cannabis for Recreational Purposes
The members of the Senate of New Jersey were going to vote on the bill of expungement on September 12. This bill was related to the convicts of marijuana and also involved some recommendations from Governor Philip D. Murphy.
But, as mentioned by one of the articles of NJ Advance Media, Senators including Teresa Ruiz, Sandra Cunningham and Stephen Sweeney, the President of the Senate of New Jersey, launched a new legislation. In light of the article, the new legislation will widen the restrictions on the offenders charged with cannabis-related offenses to entreat expungement.
But the bill could not pass because the Democrats failed to gather enough support in the Senate on 12th September.
History of marijuana legalization in New Jersey
In New Jersey, only medical cannabis is legal yet. Though Governor Philip D. Murphy along with other Democrats tried several times to regulate recreational cannabis, they failed to gather enough support to pass the bill.
Governor Corzine signed the Compassionate Use Medical Cannabis Act of New Jersey in 2010 to regulate marijuana for patients suffering from chronic illness. This year, Governor Philip Murphy passed the Jake Honig Law. This law relieved the restrictions including the amount of medical marijuana any patient could buy and the number of visits to physicians required to purchase it.
For recreational marijuana, Senator Scutari first launched a bill on 17th May to regulate adult-use marijuana. But the Governor of New Jersey at that time, Chris Christie, opposed this legalization. As a consequence, the bill rejected. When Murphy was elected as the Governor of New Jersey, he launched a campaign to regulate marijuana in the state. Governor Philip Murphy had full control of the Democrats in the Senate as well as in the Assembly. But he could not succeed to legalize recreational cannabis. The major reason for failure was the disharmony among the party. Also, African American members of the senate strongly opposed this bill.
The people residing in New Jersey favor the regulation of adult-use cannabis. According to the Cannabis Business Executive, a survey conducted by Monmouth University suggested that 62% of adults of the state were in favor to legalize a small amount of marijuana in possession for recreational purposes. The survey also indicated that 74% of the adults were in favor to remove the charges on offenders charged for cannabis-related offenses. In the United States of America, 33 states have legalized the use of medical cannabis. Whereas, only 11 states including Oregon, Massachusetts, Alaska, and California have allowed recreational marijuana.
Some advantages of the legalization
There are many advantages of legalizing marijuana for recreational purposes. It would not only create new job opportunities but also increase tax revenue. According to the article of NJ Advance Media, the Governor of New Jersey believes that $80 million would be collected by the state as a cannabis tax revenue in the upcoming year. It involves $20 million from cannabis for health purposes and $60 million from cannabis for recreational purposes. This regulation will also allow cannabis companies to enlarge their businesses across the state.
What Do the British Have to Say About Cannabis?
Many British leaders from political parties in the United Kingdom are of the belief that the UK will be fully legalizing cannabis in the coming decade.
Political leaders from the Labor’s party, the Conservative party and the Liberal Democrats highly appreciate the legalization of cannabis in the United Kingdom. The world is in an economic crisis. Many nations are looking forward to methods that will expand their economy.
Cannabis offers the brilliant potential for expanding the global market and help it reach up to the mark. This is because cannabis has over 500 applications in the industry. Moreover, the amazing influence it has on the medical sector is rudimentary for its popularity.
CBD has benefits in almost all kinds of industries like medicines for inflammation, chronic pain, multiple sclerosis, arthritis, chemotherapy nausea and emesis, epilepsy, endometriosis, and others. It has also been proved to relieve anxiety. Also, it has found uses in replacement therapy and others. Harvard Medical School states its seizure alleviating properties.
Is Cannabis legal in the United Kingdom?
Cannabis is illegal in the United Kingdom at the current moment. However, it is regarded to be the most popular drug in the country. Thirty percent of the adults out of the total population have tried the substance for once at least in their lives.
Much of the opinion of the British politicians in the United Kingdom was not in favor of the legalization of cannabis. However, the sudden upsurge about the emerging industry in Canada and the United States of America has quite changed their perspective.
They want to legalize the market and regulate it, so the business shifts away from underground gangs. This way, more young people will purchase and sell the substance more responsibly and safely. The black market will fail to thrive under such approval. However, there will be a dire need to organize the distribution in the country properly.
The opinion of Liberal Democrats on cannabis legalization
Liberal Democrats have moved forward with the campaign to legalize the substance in the United Kingdom. Though refined products like cannabidiol oil can be bought over the counters in the United Kingdom, oils containing the psychoactive compound THC are not legal.
Some consumers have found that the oil containing THC does not cause a high. Instead, it has helped them get better sleep. They believe that this oil is purely for relaxation purposes. On the contrary, this oil is legal for recreational purposes.
Opinions against the legalization of cannabis
Some British politicians are not truly in favor of complete legalization but are open to the idea. There is a need for more analysis before the legalization of cannabis for recreational purposes. The experts suggest that it would take around a decade to fully comprehend the specifications before full legalization.
While the world is moving forward with making the global economy better, some political representatives are against legalization. They criticize that the legalization of cannabis and cannabis-derived product will not eliminate the black market. In addition, they also believe that the full legalization does not fully address the harms of drug dependence.
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