Hemp, CBD, and THC

Cannabidiol (or CBD) is a constituent of the hemp plant that is associated with physical healing properties. It works on the body's endocannabinoid system as an agent of equilibrium between the various systems of our bodies. Hemp is said to be the original cultivar of the human species. It was the first plant grown on purpose by humans over 6,000 years ago. It can be used for its strong fiber for cloth, rope, and to feed livestock. My theory is that many of the strange diseases and food allergies that arose in the 20th century are due to the fact that hemp was removed from the food chain in the early 1900's during criminalization efforts. CBD is non-psychoactive unlike it's "neighbor" THC (also found in hemp but in lesser degrees) which is well known for it's psychoactive properties and sometimes can cause adverse effects in the overall experience of the ingestion of cannabis. Such effects as paranoia, anxiety, hallucination, and "time shift" among others can be lessened by the administration of CBD along with THC. You cannot overdose on either CBD or THC.

New Digital Payment System for Cannabis Businesses

Valley Bank Launches New Digital Payment App for Cannabis Industry

New mobile wallet app is the solution cannabis businesses have been waiting for

ON OCT 27, 2021

Wayne-based Valley National Bank, a subsidiary of Valley National Bancorp, is creating a new digital payment platform designed specifically for cannabis-related businesses.

Valley Pay, Valley’s new digital payment solution, will migrate cash usage to a secure, web application, easing the burden on cannabis operators who are reliant on cash transactions today. The cannabis industry remains heavily reliant on cash transactions to conduct business as major debit and credit cards are not accepted.

The application will allow cannabis-related businesses to provide their customers access to a compliant, secure and streamlined mobile wallet payment system.

“This new digital payment platform is the first of its kind servicing the critical payment needs of cannabis-related businesses,” says Stuart Cook, Valley’s chief digital product officer. “We see the reliance on cash and existing payments options as a big problem and have set out to help create a solution for our customers that is convenient and safe.”

Valley is one of the largest national banks serving multi-state cannabis-related business operators. Our dedicated team of banking professionals, including onboarding and treasury management specialists, are focused on serving the needs of cannabis-related businesses. Valley’s cannabis related business banking program is designed around the guiding principle of generating value for our customers when it comes to compliance, convenience, and cost.

The new payment platform is expected to launch with a pilot program in the coming months.


(from: https://njbmagazine.com/njb-news-now/valley-bank-launches-new-digital-payment-app-for-cannabis-industry/)