Marshall Hayner from Trees (presentation) - CoinCongress 2015

## Summary of "Marshall Hayner from Trees (presentation) - CoinCongress 2015"

Marshall Hayner, CEO of Trees, presented on the intersection of the medical cannabis industry and Bitcoin at CoinCongress 2015. His presentation explored the challenges and opportunities presented by this convergence, particularly focusing on the cannabis industry's banking difficulties and the potential for blockchain solutions.

Main Topics:

• The cannabis industry faces significant banking problems, with an estimated $2.5 billion in cash due to limited banking partners.
• Trees utilizes Bitcoin and other cryptocurrencies to overcome banking access issues.
• Blockchain technology can be used for product tracking and authenticity verification within the cannabis industry.
• Conflict between state-level legalization and federal banking regulations hinders growth (example: M Bank failure).
• Bitcoin integration challenges include volatility and friction for businesses.
• Potential negative impacts of legalization, including price drops and business failures for growers.
• Discussion of California recreational marijuana legalization and the need for careful regulation.

Key Quotes:

• "The cannabis industry will surpass big tobacco..." (referring to market size)
• Mention of the $2.5 billion in cash stored due to lack of banking partners.
• Discussion of the controversial 2012 raid on Harborside Health.

People Mentioned:

• Marshall Hayner
• Meebo
• M Bank employees

Bitcoin Price: Not mentioned.

Hayner also shared his background in Bitcoin, referencing a Facebook-integrated Bitcoin wallet and his company, globalbiccoins.com. He highlighted Colorado’s significant tax revenue ($20 million+) from marijuana sales and cautioned against the potential pitfalls of recreational legalization. |