Multichain Ventures Secures Public Sector Contract with Nevada to Supply Tokenized Financial Ecosystem for the Legal Cannabis Industry – PRNewswire

LAS VEGAS, Jan. 26, 2021 /PRNewswire/ — Multichain Ventures Inc., a pioneer in blockchain, tokenized ecosystems and digital financial infrastructure, utilizing their proprietary patent pending commerce solutions, is pleased to announce that alongside another vendor, has secured a public sector contract with the State of Nevada to fulfill the requirements of Assembly Bill 466. The Bill creates a Pilot Program and legal framework within which legal cannabis entities and supporting businesses can eliminate the necessity of transacting exclusively in cash, through the implementation of blockchain-based financial technology services.

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Multichain Ventures, Inc.

Multichain Ventures was an early participant in roundtable discussions which ultimately culminated in the AB466 proposal, contributing feedback during two events over the course of 2018. Early discussions centered on a variety of potential alternative solutions to issues facing cannabis operators. Co-founders Michael Wagner, CFA and Gabriel Allred, PhD consulted directly with more than twenty five public officials on the fundamentals of tokenized ecosystems, and the inherent advantages of speed, functionality, and transparency of such systems.

FEDERAL OUTLOOK

Cannabis remains a Schedule I federally controlled substance by the DEA in the United States. As a result, federally regulated entities, such as banks and payment processors, are reluctant to provide services to marijuana businesses, despite some form of legal status across 35 states.

The Cannabis 2021 outlook for federal reform is staging for major strides due to the new U.S. Senate revamp. Recent Democratic victories in Georgia give the Democrats 50 seats along with Vice President-elect Kamala Harris holding the tiebreaking vote.

Recent cannabis public market activity increased, with investors feeling inclined to activate investment vehicles in response to Washington’s projected approval of policies and legislation opening commerce to increase business across the nation.

Without a Republican-anchored Senate, cannabis reform

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