Cryptocurrencies

For medical marijuana millionaire and entrepreneur Maximilian White, financial failure is not the end.

For medical marijuana millionaire and entrepreneur Maximilian White, financial failure is not the end.

Europe’s richest legal cannabis tycoon has suffered major misfortune, twice in his career and once in his father’s life. However, his personal reaction when his company lost $29 million in the 2012 Cyprus banking collapse was somewhat unusual.

Instead of earning the rest of his money, he squandered his money on a Rolls Royce, which he drove in public.

“I am a proud person. “I didn’t want people to think I was delusional,” she says. “I might as well be a poser!” In fact, he is a hard worker and is not afraid of failure.

Like many of his generation, White now embraces blockchain technology, with the unique use of NFTs, as part of his business.

He says the whole is better than the sum of the parts, like a cocktail.

“For example, a Manhattan cocktail is a mixture of whiskey and bittersweet vermouth. It’s the combination that makes it great. “To me, it’s a combination of cannabis, blockchain and cryptocurrency. you can’t go wrong.”

Who is Maximilian White?

White’s early career was in music production, including a collaboration with Drake that led to the song “One Dance.” He also built and sold a music streaming service called Beatport, which made him millions.

His love affair with Portugal led him to create a beach club called Blanco Beach, frequented by Rio Ferdinand and featuring the best of Tyga, Tory Lanez, Roger Sanchez, Rick Ross and French Montana : It has since been closed.

White also suffers from ADHD, which he says allows him to have an eclectic taste in music, from classical to British funk and hip-hop.

He says he knew he wanted to be a business builder when he was still in elementary school. When asked to dress up as what he was going to be, he didn’t make it to his class as a firefighter or a police officer. Instead, he chose to dress like a businessman with a sheepskin jacket and a classic canvas bag.

He attributes his work ethic to his early life, where he sang as a chorister at Durham Cathedral and never had a day off, including singing on Christmas Day.

He made most of his fortune selling medical marijuana to wholesalers around the world and setting up Europe’s largest farm in Portugal, a massive 40 hectare farm. He has somehow managed to secure many government partnerships in previously untapped areas.

He has expanded to include properties in Dubai, Mallorca and Eastern Europe, and says his interest was sparked by the loss of his family home as a child. Her father lost everything and they had to move into a council house. He has since witnessed a greater personal tragedy in the public eye when his brother died during a violent brawl at a Dubai nightclub in 2022.


For Medical Marijuana Millionaire And Entrepreneur Maximilian White, Financial Failure Is Not The End.

For Medical Marijuana Millionaire And Entrepreneur Maximilian White, Financial Failure Is Not The End.For Medical Marijuana Millionaire And Entrepreneur Maximilian White, Financial Failure Is Not The End.

Legal Marijuana and Cryptocurrencies

Many people who grew up under restrictive marijuana laws may feel uncomfortable with legal cannabis, but in recent years laws around the world have become increasingly liberal.

Also read: How the Silk Road Turned Your Postman into a Merchant

Medical marijuana is now legal in more than 50 countries, and nine countries have legalized recreational marijuana use, including Canada, Germany, South Africa, and Thailand. Ironically, despite the good reputation of the Netherlands, cannabis is not strictly legal there, although it is tolerated.

In 2021, White told Ladbible about plans to create a cryptocurrency for the cannabis industry called MEDI. That code never came down, instead he was busy building his own medical marijuana business, but three years later he revised the plans and turned them into something new.

With the help of digital marketer Ricardo Capone, an old friend who now serves as his chief technology officer, White integrated his cannabis products with NFTs to provide a blockchain-based tracking engine for his plants.

White says that when he first came across NFTs, he didn’t see them as valuable pieces of art. While Beeple’s $69 million NFT sale dominated the news, White wasn’t excited about artist sales or royalties.

“However, I immediately had access to smart contracts and that excited me. I can see a future commercial use that would reduce the need for lawyers. People can buy cars or real estate using smart contracts, or you can sell a company with complete transparency. Smart contracts made me delve deeper into this field.

NFTs represent businesses

However, White isn’t sure if the term has a good reputation anymore. Since he already sells recreational cannabis, he’s a little wary of doubling down on his efforts by linking it to the term “NFTs.”

“People have lost a lot of money investing in NFTs, which are usually digital artworks, but the technology is what interests me. So I think the onus is on us to educate people about these real-world assets or digital assets and what they can do. It’s not just about the art of flipping.

“Again, I would bring it back for commercial use,” he says, explaining how non-fungible tokens — unique tokens — can represent a fractional share of ownership in the real world. “For example, people can buy real estate today using NFTs as a way to show ownership. If you can’t buy the whole house, maybe you can buy a part of it, and in the future you can even sell the NFT and make a profit and put it towards your next house.

His latest cryptocurrency project is called “Dr. Green,” where NFTs are used as part of a distribution business, or what he calls “people’s unique business tickets.” A total of 5,145 unique NFTs give holders access to the Dr Green DApp so they can build a cannabis retail community. There are also plans to release Platinum NFTs associated with cannabis-loving celebrities who will create their own strains.

The decentralized application requires KYCing customers to ensure that the product is sold only in areas where it is legal. Payments are made in fiat or cryptocurrency, and profit margins are paid to Ethereum sellers. DrGreen then ships the product.

Tracking the weed supply chain on the blockchain

White says blockchain traceability proves product quality and says he has spent millions investing in “a hemp farm, a processing plant and an R&D facility.”

“We have invested significant resources in developing one of the most advanced medical cannabis companies. By putting our entertainment business on the blockchain, we use technology to track everything, make sure we comply with all laws, and also allow us to act as a hub for distributed entrepreneurs.

In short, NFTs are a bit like an operating license for a company that is tied to its distribution network and can be traded with others if needed. The value of an NFT increases based on the number of clients it represents. Some will see this as a smart business move that blends technology and entrepreneurship, while others will no doubt see it as moral bankruptcy and corruption of our youth. But times are changing.

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“Our NFTs act as a digital key or real-world asset that you can plug into company systems that are already up and running.”

Interested but still wary of cryptocurrencies

Despite his interest in blockchain technology, he is wary of the hype surrounding cryptocurrencies as a financial instrument and believes there is an inherent flaw in valuing cryptocurrencies against the dollar.

“If the price of cryptocurrencies will always be valued in real-world money, how can it be decentralized? The dollar will never be decentralized, and I think this is a dangerous precedent.

Gillian GoodsellGillian Goodsell

Gillian Goodsell

Gillian Goodsell is an award-winning journalist, presenter and author. She changed Ireland’s electoral laws through a constitutional challenge in the Irish High Court in 2014, is a former candidate for the European Parliament and is an advocate for diversity, women in blockchain and the homeless.

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