December 14 2020
In hindsight, it is easy to say that those who didn’t participate in the California Gold Rush missed out on the opportunity of a lifetime. In 1848 though, there was a lot of fear that dissuaded millions from participating. In 2018, the Farm Bill initiated another type of gold rush, the chase for CBD. The fear felt by those in 1848 is still prevalent for many today and are therefore hesitant to cash in on the rush. The exponential growth of the CBD gold rush has since declined, and it is time to add legitimacy to the industry the way the Gold Standard did for gold in America. It is time for CBD and the industry to be supported by its own version of the gold standard; ERP to create real and substantial ROIs.
The industry is at a point in its life in which it must burst from the fringe and unknown into legitimacy through regulation and consumer education that will lead towards wide spread acceptance and use. The regulatory actions needed would require a large push for self-regulation in the hemp industry through an SRO, or the FDA will be required to step in. Either way, although preferably through an SRO, the industry will comply with regulation which will in turn instill confidence in consumers.
The initial gold rush of CBD has left the market saturated, but DO NOT be mistaken, the competition to be ranked the highest on the Fortune 500 list will be on.