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CryptoCann™ Report: World Economic Forum sees blockchain’s environmental potential; Artist creates weed-themed Rolex watches

The WEF’s report outlines blockchain’s potential application to issues like climate change and air pollution

The Crypto Report

The cryptocurrency market has been shaky, but hedge funds aren’t ready to throw in the towel just yet.

Hedge fund BlockTower Capital, established by former Goldman Sachs Group (NYSE:GS) investment manager Matthew Goetz, is funneling more resources into its business.

The Stamford-based fund opened a second office in New York last month and has increased its number of employees to 13 from the initial team of eight, as per a Bloomberg report.

A total of 96 hedge funds and venture funds opened in 2018, compared with 156 last year, according to Crypto Fund Research.

READ: CryptoCann™ Report: IBM to set up blockchain project directory; Willie Nelson to headline Beto O’Rourke’s rally

Blockchain is the underlying technology behind cryptocurrency, but it has uses in other sectors as well.

The World Economic Forum published a report entitled “Building block(chain)s for a better planet” that highlights ways the technology can be used to tackle some of the trickiest environmental challenges.

“If harnessed in the right way, blockchain has significant potential to enable a move to cleaner and more resource preserving decentralized solutions, unlock natural capital and empower communities,” said the report.

The report outlines the potential application of blockchain technology to issues like climate change, air pollution, biodiversity loss and water scarcity.

The Cann Report

Several beverage companies, like Constellation Brands Inc (NYSE:STZ) and Molson Coors Brewing Company (NYSE:TAP), have started carving out a piece of the cannabis market for themselves.

Beverage giant The Coca-Cola Company (NYSE:KO) wants to throw its hat in the ring as well, but has yet to make a final decision, according to a Bloomberg report.

“We are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world,” said Coca-Cola spokesman Kent Landers in an emailed statement to Bloomberg.

The Atlanta-based company said it is discussing the idea with cannabis giant Aurora Cannabis Inc (TSX:ACB) (OTCMKTS:ACBFF), sending the Canadian company’s shares soaring on Monday.

READ: Short-sellers are becoming more selective about betting against cannabis stocks, says IHS Markit report

Shares of Aurora Cannabis were up more than 14% to C$9.73 while shares of Coca-Cola saw a slight jump to US$46.16.

If you’re an unabashed cannabis connoisseur who wants to wear it on your sleeve, luxury jewelry brand Fin de Temps has just the thing.

The New York jeweler is offering a line of weed-themed Rolex watches designed by Seattle artist Buddy Austin, according to a Dope Magazine report.

The one-of-a-kind watches can take more than 200 hours to create. The masterpiece will cost anywhere from US$30,000 to US$50,000.

While the watches are currently out of stock, the artist can be contacted for availability.

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The cr id="YT_video" yptocurrency market has been shaky, but hedge funds aren’t ready to throw in the towel just yet. Hedge fund BlockTower Capital, established by former Goldman Sachs Group (NYSE:GS) investment manager Matthew Goetz, is funneling more resources into its business. The Stamford-based fund opened a second office in New York last month and has increased its number of employees to 13 from the initial team of eight, as per a Bloomberg report.

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