Smart idea except for the bit where they get you to buy into them
High Times has the story
The first cannabis co-working space in Los Angeles is set to open. The office, named Paragon Space, will officially open on July 1st, though the facility should be in operation by 4/20.
The Co-Working Space’s Design
Paragon Space of 1463 Tamarind Avenue is 4,364 square feet of co-working space reserved for members of the cannabis industry. You can sign up for an office, desk, conference room, or lounge area through their website.
There will also be outside space and a café serving an array of food and drinks. The space design includes a communal area for networking amongst cannabis professionals.
How To Become A Member
Renting space will be available through their website, though renters can only pay using Paragon’s own cryptocurrency. In the U.S., banking follows federal law. Since the federal government still classifies marijuana as a Schedule I drug, banks will not risk managing the finances of cannabis entrepreneurs.
To get around the banking industry, Paragon exclusively accepts payments in their own cryptocurrency for everything from rent to smaller purchases at the café.
According to Paragon Space’s own calculations, 10,000 people already hold paragon’s currency already. These people voted for the co-working space’s location in Hollywood.
The Mission Behind Paragon Space
Paragon has labeled itself the “leading blockchain tech platform for the cannabis industry.” In other words, they’re attempting to facilitate legitimate cannabis business in a federal climate that makes it increasingly difficult.
In addition to developing a cryptocurrency, Paragon and CEO Jessica Versteeg saw an opportunity in popular working space culture and took it.
Paragon Space has officially stated, “The concept for a Paragon Space was derived from the persistent lack of working spaces for entrepreneurs and employees working in and for the cannabis industry.”