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CryptoCann™ Report: Ernst & Young to hire 2,000 blockchain and AI employees; New Jersey may be next to legalize recreational marijuana

Published: 09:42 23 Nov 2018 EST

Ernst & Young building

The Crypto Report

Blockchain has long been a buzzword, popping up in press releases and patents from big names in the tech world.

The total number of venture capital investments in blockchain and crypto companies has climbed 316% to $2.85 billion in 2018 compared with $900 million last year, according to European venture firm Outlier Ventures.

READ: CryptoCann™ Report: Bitcoin mining company Giga Watt files for bankruptcy; First cannabis restaurant set to open in the UK

The report shared by The Block found that 119 venture capital deals closed in the third quarter of 2018 as well as more than 50 acquisitions in November.

The report found that the main source of venture capital investments in the blockchain space come from the US.

Blockchain enthusiasts residing in India may have a chance to work with “Big Four” auditor Ernst & Young.

The auditor is looking to hire 2,000 employees in India to expand its blockchain and artificial intelligence solutions, according to a report by The Economic Times.

“There is significant capital available for new startups and big Indian companies are investing in digital,” said Ram Sarvepallileader of Advisory Services India and partner of Emerging Markets Centre. “The government is heavily investing in digital from a citizen services perspective.”

Ernst & Young has plans to invest $1 billion in emerging technologies and will scout for new talent over the next three years.

The Cann Report

Voters in Michigan, Missouri and Utah voted “yes” on marijuana proposals in this year’s US midterm elections.

New Jersey might be next on the list after lawmakers released a proposal to legalize recreational marijuana in the state.

READ: PreveCeutical Medical reports converting acid phytocannabinoids to neutral form

The proposal would legalize an ounce of marijuana for adults 21 and older, set up a five-person cannabis commission, and tax cannabis sales at 12%, as per a Marijuana Business Daily report.

Local governments may apply up to a 2% tax on cannabis as well.

The legalization of cannabis has been incredibly significant to the scientific community, paving the way to greater research opportunities.

The University of New Brunswick in Canada has hired its first research chair to focus on the potential health benefits of cannabis, as per a CBC report.

Yang Qu will serve as the cannabis health research chair and assistant professor at the university. 

Qu has done extensive research of the Madagascar periwinkle and has developed synthesized versions of chemicals found in the plant for use in chemotherapy.

“We know something about the medicinal value of cannabinoids, about the major two cannabinoids, THC and CBD,” said Qu in the interview. “The information about other cannabinoids that also accumulate in the plant are very scarce, so this is an area that we need to study.”

Pharmaceutical company Tetra Bio-Pharma Inc (CVE:TBPOTCQB:TBPMF) and the New Brunswick Health Research Foundation have provided the funding for the project.

 

Contact Lenore Fedow at lenore@proactiveinvestors.com

 

Follow her on Twitter@LenoreMariee

 

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