Understanding Cannabinoids: CBN vs CBD
While there are many cannabinoids that may enhance the therapeutic effects of hemp products, the most common renowned product is the phytochemicals in the Cannabis genus that contain the tetrahydrocannabinol or THC. This is the substance that is responsible for all of the psychoactive effects of cannabis. CBD has long been associated with the variety that offers up the best help benefits without offering up the high that the THC gives to users.
While the CBD may not be the feature that is in all of the hemp products, it’s a by-product of the THC. Hemp Genix, Wholesale CBD Oil in Norris, has 80% purity compared to competitors at 17%-40%. The CBN doesn’t bind to the body’s cannabinoid receptors like the THC does. It’s long been known to give a stronger sedative effect when it’s used in combination with the THC.
At Hemp Genix, all of our products are made with 100 percent USA, Zero THC and 80 percent purity Wholesale full-spectrum CBD oil in Norris. This is carefully derived from a variety of cultivars of hemp which contain an abundance of cannabinoids.
A lot of people are very familiar with CBD or Cannabidiol. This is found in highly concentrated amounts in a variety of products. However, there are lots of cannabinoids that are found in hemp. These have shown a variety of benefits in studies. All of our products offer you full-spectrum hemp oil. This also includes all of our cannabinoids that are found in the plant. We don’t want you to miss out on any of the benefits.
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This is the most abundant cannabinoid in the hemp oil. It makes up 90 percent of the content of cannabinoid. It’s non-psychoactive and the focus is on how it benefits the body via the hemp oil. It has minimal affinity for CB1 or CB2 receptors. The main focus on interaction is in the endocannabinoid system and it acts as an indirect antagonist toward the cannabinoid antagonists. This, in turn, may allow the CBD to temper the high that is caused through the THC. Wholesale CBD Oil in Norris from Hemp Genix are over 80 percent pure and CBD makes up the majority of the Oils weight. Industry averages and nearly all of the other products with cannabinoids and brands average in at 17 to 40 percent purity.
What’s The Difference Between CBD And CBN?
Cannabis has a number of cannabinoids in which the most abundant are the levels of THC. There are 9 tetrahydrocannabinol as well as CBD and CBN. This is the active ingredient that makes you high. The THC is in the plant and the CBD is the precursor and the CBN is the metabolite of the THC. As the cannabis ages, the THC level breaks down into the CBN.
This also leads researchers to believe that the CBD might give some protection against ecstasy-derived neurotoxins or long-term depletion of the serotonergic receptions. While this is still speculation, it’s investigating further. The CBD is usually present in significant enough quantities in such products as hashish or cannabis resins. However,r it’s also in the herbal cannabis referred to as skunk in smaller amounts.
Overall, the CBN is a great cannabinoid that offers up a varied range of therapeutic applications that work together with the rest of the “team” in order to offer up the best possible results. Clearly, more clinical trials are required to see how else it can benefit patients.
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Although selling marijuana is now legal in 24 states and the District of Columbia, doing business as a legal marijuana company is a logistical nightmare. That's because marijuana is still federally illegal, and banks open themselves up to potential seizure by the FDIC if they take money that is the result of a federally illegal act.
Despite the fact that President Obama has given financial institutions the green light to serve the legal cannabis industry (so long as they monitor closely for potential money-laundering and other violations), most banks won't work with the $6.7 billion marijuana industry. The result is that 70 percent of cannabis companies don't have a bank account. The few banks that do take on marijuana clients do not advertise what they're doing.
Enter Hypur, a startup in Scottsdale, Arizona, that for the past year has been quietly convincing banks that it is safe and profitable to work with cannabis businesses.
Hypur, which was founded by a team of banking compliance and software entrepreneurs in 2014, has successfully helped about five banks in Colorado serve a number of cannabis businesses in the state. Hypur would not reveal which banks, citing nondisclosure agreements.
The startup's secret sauce is a software platform that audits a cannabis company in its entirety, shifting through documents and state licenses, financial statements, tax returns, property leases, and more, to ensure it is legal and legitimate. The software connects to the cannabis company's point-of-sale system as well as the state's seed-to-sale system, which follows marijuana plants from the grow house until they're sold to a customer, to monitor the business and ensure compliance.
One of the greatest hurdles for banks that do want to do work with this lucrative market is to make sure businesses are compliant under state law. It can take up to 20 hours for a banker to do a single marijuana business's paperwork, while other businesses can get a bank account set up within an hour, says Andre Herrera, executive vice president and co-founder of Hypur.
Michael Sinnwell, chief operating officer and co-founder of Hypur, adds, "That's one of the biggest things--banks spend a lot of time chasing paper and we're eliminating the paper-chasing."
After Hypur has collected all the licenses and documents and has proved the company is legally operating in the state, the system creates automated notifications and red-flag triggers for when a license or lease will expire to make sure the client does not fall out of compliance.
Banks using Hypur are granted access to granular financial information coming from each dispensary's point-of-sale system. (Hypur is integrated into POS software like Flowhub and BioTrack THC and marketplace platforms like Tradiv.) Not only can banks on the platform assure bank regulators like the FDIC that everything is above board, Hypur breaks down the provenance of every dollar coming into a cannabis bank account, says Sinnwell.
"Here's where the money came from and here's how much cash you should expect coming through your door at any given point. We allow banks to know a given transaction is a legitimate transaction between a consumer and that merchant," Sinnwell says. "We call it Know Your Customer's Customer. Banks know their customer but now they have an idea of their customer's customer to make sure it's not laundered funds."
Follow the money.
The ability to know you customer's customer is a big deal in the banking world. Once a Hypur customer gives a cannabis business an account, that business is encouraged to have its customers download Hypur's mobile payment app. The app, which is about to finish beta testing, hosts a direct bank-to-bank electronic transaction, meaning a customer pays directly from their bank account to the cannabis business's bank account. The bank can follow each transaction coming in and follow the product going out of the business.
"Our goal is to eliminate cash," Sinnwell says.
Cash is not only a pain to deal with and keep safe; it also poses danger to the merchant and the merchant's employees. Money also walks. Cash businesses tend to lose 10 percent due to theft. Lastly, businesses that are cash only are inconvenient to customers.
While 30 percent of cannabis companies have a bank account, no cannabis company can accept debit or credit cards because companies like Visa and Mastercard will not give the industry merchant accounts until federal law changes. For this reason, an entire cottage industry of armed cash pick-up and delivery companies has emerged in states like California, Colorado, Oregon, and Washington to bring millions in cash to entrepreneur's homes, private vaults, or banks or local federal reserve branches (some banks prefer to bring the cash straight to their federal account) for the ones with bank accounts.
Hypur's platform and app allows banks to see each dollar come into a business's account and match with a customer and product. When a cannabis client's armored truck pulls up to a bank, the bank knows exactly how much is coming and where each bill came from.
According to Hypur, it monitors hundreds of millions of dollars of transactions a month. The company, which raised $6 million from investors, doesn't serve only the cannabis industry. It also serves any cash-intensive business, like gun and ammunition shops, payday lenders, off-track betting parlors, and pawn shops. Sinnwell says that the Hypur platform provides effective tools to companies that are struggling for credibility and acceptance by financial institutions.
"Once the data and information starts to flow and banks can know a business isn't laundering funds, that's when the industry blooms," he says. "The biggest thing for regulators is to know that all of this cash is accounted for."
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Almost all U.S. voters support medical marijuana if prescribed by a doctor, a new Quinnipiac University National poll finds.
The poll, which was released Monday, finds that 89 percent of U.S. voters support allowing adults to legally use marijuana for medical purposes if prescribed by a doctor. Medical marijuana is a nonpartisan issue, the poll finds, with 81 percent of Republicans, 94 percent of Democrats, and 93 percent of Independent voters all say medical pot should be legal.
Such growing support bodes well for the industry despite its murky legal status in the U.S. Already 24 states and the District of Columbia have sanctioned some form of the plant's medicinal or recreational uses.
The poll also found that 87 percent U.S. voters believe that U.S. Veterans Administration doctors should be allowed to prescribe medical marijuana in pill form to veterans suffering from Post Traumatic Stress Disorder in states where cannabis is legal.
When asked more generally, should the use of marijuana be made legal in the United States, 54 percent of voters said yes. Out of that group, 36 percent of Republicans support legalization (62 percent don't support legalization), 65 percent of Democrats and 61 percent of Independents said "yes" to legalization. When it comes to men and women, they voted 60 percent and 48 percent in favor of legalization, respectively.
The Quinnipiac University Poll surveyed 1,561 registered voters nationwide between May 24-30, 2016 with a margin of error of plus or minus 2.5 percentage points.
Voter attitudes towards marijuana have changed dramatically over the years. Back in 1969, Gallup found only 12 percent of Americans surveyed favored legalization. In 2013, a Gallup poll found 58 percent of Americans support legalization.
The Quinnipiac voters' poll finds that the majority of eligible voters are pro pot for medical purposes and in general.
Tom Angell, the chair of pro-legalization group Marijuana Majority, says this newest poll goes to show that cannabis reform is a mainstream issue that is supported by most Americans. Angell says with up to 10 states voting on marijuana legalization at the ballot box this November, he expects to see more states to implement their own state-sanctioned industries.
"This is just the latest in a string of recent polls clearly showing that most voters support legalizing marijuana," Angell says. "These results and similar ones before them are exactly why, for the first time ever, every remaining presidential candidate has voiced support for letting states legalize marijuana without federal interference."