Indian Cannabis Farming Policies and Use of FinTech to Improve Related Legalities

Abstract

The chapter proposes a vigilant approach towards the demand of legalising cannabis. It explains the opportunities of Fintech to develop legal, safe, and flexible transactions in the industry which is considered illegal in many countries. The chapter presents the cases of the Jammu and Kashmir, India to grow and manufacture licensed cannabis compounds, making upon indigenous knowledge, culture, and nourishing environment. It also accounts to mitigate the risk around related illegal activities. There are a few pharmaceutical manufacturing companies producing cannabis-based drugs, but they do not own farms, and source it from a few tilizing farmlands. Some big companies have started tilizing blockchain technologies, raising opportunity to test further possibilities through blockchain, cryptography, digital identity cards, etc. The chapter presents findings from a survey in the Jammu and Kashmir, India, capturing perceptions about cannabis farming, cannabis-based medicine, financial transaction challenges, and the use of Fintech in legal use of cannabis.