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The cannabis sector in the US still held back by financial institutions

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Legal regulation of financial transactions in the cannabis sector is needed for CBD producers like Veritas Farms Inc. (OTC: VFRMD) to prosper

Medical cannabis sellers are “at the mercy” of banks, which can close their accounts at any time. The recent passage of a law in the House of Representatives facilitating access to the banking sector for marijuana professionals is just a first step forward.

Medical cannabis is legal in 33 states. Eleven states and the American capital have legalized its sale for recreational use. However, according to the federal law cannabis is still a hard drug, just like cocaine, and banks are afraid of money laundering charges if they work with marijuana professionals.

Even after passing the Farm Bill in December 2018 legalizing hemp on federal level, not all banks accept transactions of CBD companies either. But even though the financial sector is reluctant, the hemp business is growing at a continuous pace and CBD companies seem to do well.

Veritas Farms Inc. (OTC: VFRMD), a CBD company with production facilities in Pueblo, Colorado, was founded in 2015 and has already recorded a tremendous growth after just four years of operations. They generated over $2.9 million in total revenue by Q2 2019, that’s a 500% increase compared to Q2 2018, with gross profits increasing by almost 800% to $1,523,413. The company produces eight categories of hemp oil products which are available at 4,500 retailers across the U.S. including 1,350 Kroger Family of Stores locations and online. Veritas products are becoming increasingly popular thanks to their transparency, honesty and focus on high quality – recently they have released a unique QR code packaging allowing customers to check product quality directly on their smartphones.

But companies’ commercial success is not enough for the banks. There are very few banks that would accept a cannabis company as a customer. Transactions happen mostly in cash and it takes several days for the money to be deposited in the account. This affects paying invoices on time or employees’ salaries.

The bank account, which can be closed if the bank has a doubt about the legality of transactions, is mainly used for cryptocurrency payments from buyers, and it cannot contract any credit, as large networks refuse high-risk customers.

A first step

Banks’ reluctance is a problem for companies that deal with cannabis businesses too. According to Jenn Michelle Pedini, development manager at NORML, one of the leading pro-cannabis lobbies, recalls her own experience is this matter. Her company helped a cannabis seller open their business and afterwards, she had problems with the administration.

Yet the cannabis sector is expanding quickly: it generates more than $10 billion in revenues and could reach $56 billion by 2025, according to pro-legalization lobbies. The American cannabis market is also attracting investors from Canada where cannabis is legal since October 2018. For example, GreenStar Biosciences Corp. (CSE: GSTR) invested in a Washington state-based producer of recreational cannabis, Cowlitz, and the company already brings results. Last year (2018), Cowlitz recorded over $14 million in revenue after five years of operations. GreenStar aims at building a diverse portfolio of cannabis companies touching at every aspect of the product life cycle. Their experienced management team specializes in selecting and guiding most promising marijuana businesses to success.

However, despite the interest from foreign companies, out of the 11,000 banks and credit institutions in the United States, only 700 work with cannabis-related companies, according to the Treasury Department.

Last week, the House of Representatives passed a law that aims at protecting cannabis professionals and associated companies from possible legal or tax consequences by the federal government. The SAFE Banking Act reduces the risk of burglary or violent robbery in an area where transactions are done with. The opponents of the law however, claim that the act will provide easier access to the financial sector for drug cartels. But Tanner Daniel, the Congressional Relations Officer for the American Bankers Association (ABA), thinks that this is a “small necessary step forward”.

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Hannah Barwell is the most renowned for his short stories. She writes stories as well as news related to the technology. She wrote number of books in her five years career. And out of those books she sold around 25 books. She has more experience in online marketing and news writing. Recently she is onboard with Apsters Media as a freelance writer.

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China’s Tianwen-2 Set for Launch to Asteroid and Comet

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China’s Tianwen-2 Set for Launch to Asteroid and Comet

China has taken a major step forward in its deep-space exploration efforts as the Tianwen-2 spacecraft arrived at the Xichang Satellite Launch Center in Sichuan province for final launch preparations. The China National Space Administration (CNSA) confirmed the development on February 20, 2025, signaling that the mission is on track for its scheduled launch in the first half of the year.

A Dual-Purpose Mission

The Tianwen-2 mission is a combined near-Earth asteroid sample return and comet rendezvous mission, marking another ambitious endeavor for China’s space program. The mission is set to launch aboard a Long March 3B rocket, with a tentative liftoff expected around May 2025.

The primary target of Tianwen-2 is the near-Earth asteroid Kamoʻoalewa (2016 HO3), a small celestial body with a diameter estimated between 40 to 100 meters. The asteroid is considered a quasi-satellite of Earth, meaning it follows a co-orbital path with our planet. Scientists believe Kamoʻoalewa might be a fragment of the Moon, ejected into space after an ancient impact event.

After collecting samples from Kamoʻoalewa, the main spacecraft will continue its journey to comet 311P/PANSTARRS, a celestial body that exhibits both asteroid-like and comet-like characteristics. By studying these two objects, scientists aim to gain valuable insights into the composition, evolution, and history of the solar system, including the distribution of water and organic molecules.

Launch Preparations Underway

CNSA stated that the launch site facilities are fully prepared, and pre-launch tests are proceeding as planned. Engineers and scientists are meticulously working to ensure the spacecraft is ready for its complex mission, which will involve multiple orbital maneuvers, sample collection, and deep-space travel over nearly a decade.

Sampling Kamoʻoalewa: Two Innovative Techniques

To collect material from Kamoʻoalewa, Tianwen-2 will employ two advanced sampling methods:

  1. Touch-and-Go (TAG) Method – This technique, used by NASA’s OSIRIS-REx and JAXA’s Hayabusa2 missions, involves briefly touching the asteroid’s surface to gather samples.
  2. Anchor-and-Attach System – This approach uses drills attached to the spacecraft’s landing legs, allowing for a more stable and secure extraction of subsurface material.

Early mission concepts, when Tianwen-2 was initially known as Zheng He, indicated that China aimed to collect between 200 and 1,000 grams of asteroid samples. These samples will help scientists analyze Kamoʻoalewa’s mineral composition, origin, and potential similarities with lunar material.

Challenges in Sample Return

Although China has successfully executed two lunar sample return missions—Chang’e-5 (2020) and Chang’e-6 (2024)—returning asteroid samples presents unique challenges. Unlike the Moon, Kamoʻoalewa has negligible gravity, requiring specialized landing and sampling techniques. Additionally, the reentry module carrying the samples will experience higher velocities, demanding advanced thermal protection and parachute deployment systems.

To address these challenges, the China Aerospace Science and Technology Corporation (CASC) conducted high-altitude parachute tests in 2023, ensuring the safe return of asteroid samples to Earth around 2027.

Comet Rendezvous: Studying 311P/PANSTARRS

Returning samples from Kamoʻoalewa will not mark the end of Tianwen-2’s mission. The spacecraft will execute a gravitational slingshot maneuver around Earth, propelling it toward comet 311P/PANSTARRS in the main asteroid belt. The rendezvous is expected around 2034.

311P/PANSTARRS is considered a transitional object between asteroids and comets, making it an ideal candidate for studying the origins of cometary activity within the asteroid belt. Scientists hope to analyze its orbit, rotation, surface composition, volatile elements, and dust emissions, shedding light on the evolution of comets in the inner solar system.

Scientific Instruments on Board

The Tianwen-2 spacecraft is equipped with a suite of cutting-edge instruments to study its targets, including:

  • Multispectral and infrared spectrometers – To analyze surface composition.
  • High-resolution cameras – To map geological features in detail.
  • Radar sounder – To probe subsurface structures.
  • Magnetometer – To search for residual magnetic fields.
  • Dust and gas analyzers – To examine cometary activity.
  • Charged particle detectors – To study interactions with the solar wind (developed in collaboration with the Russian Academy of Sciences).

China’s Expanding Deep-Space Ambitions

Tianwen-2 follows the highly successful Tianwen-1 Mars mission, which saw China land the Zhurong rover on Mars in 2021. The Tianwen series is a key part of China’s growing presence in deep-space exploration:

  • Tianwen-3 – A Mars sample return mission, scheduled for 2028–2030.
  • Tianwen-4 – A Jupiter system exploration mission, launching around 2030, featuring a solar-powered orbiter for Callisto and a radioisotope-powered spacecraft for a Uranus flyby.

Chinese researchers have emphasized the importance of asteroid sample return missions, citing their potential for groundbreaking scientific discoveries and the development of new space technologies.

With Tianwen-2, China is taking a bold step into the future of deep-space exploration. By returning samples from an asteroid and studying a comet, the mission will provide crucial insights into the origins of the solar system and planetary evolution. As launch preparations continue, the world eagerly anticipates another milestone in China’s space program.

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SpaceX to Launch 21 Starlink Satellites from Florida on February 4

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SpaceX to Launch 21 Starlink Satellites from Florida on February 4

SpaceX plans to launch another batch of Starlink satellites into orbit from Florida’s Space Coast on February 4, 2025. The mission will deploy 21 Starlink satellites, including 13 equipped with direct-to-cell communications capabilities, marking another major step in SpaceX’s ambitious plan to provide global high-speed internet coverage.

The Falcon 9 rocket flight from Cape Canaveral Space Force Station is scheduled to take place during a roughly three-hour launch window that opens at 3:37 a.m. (0837 GMT). SpaceX will livestream the event on its X account (formerly Twitter), with coverage beginning about five minutes before liftoff.

The mission will use the experienced Falcon 9 first-stage rocket, which will be making its 21st launch and landing. According to SpaceX, this rocket has already flown on 20 missions, 16 of which were dedicated Starlink launches. If all goes as planned, the rocket will return to Earth about eight minutes after liftoff, landing on the unmanned “Just Read the Instructions” craft in the Atlantic Ocean.

The Falcon 9 upper stage will continue its journey to deploy 21 Starlink satellites into low Earth orbit (LEO) about 65 minutes after liftoff. This will be SpaceX’s 15th Falcon 9 mission in 2025, with nine flights dedicated to expanding the Starlink constellation.

Direct-to-cell capabilities


A notable feature of this mission is the inclusion of 13 Starlink satellites with direct-to-cell capability. These advanced satellites are designed to enable seamless connectivity for standard mobile phones, eliminating the need for specialized hardware. This technology has the potential to revolutionize communications in remote and underserved areas, providing reliable internet and cellular services directly to users’ devices.

The growing Starlink constellation


SpaceX is rapidly expanding its Starlink network, which is already the largest satellite constellation ever assembled. In 2024 alone, the company launched more than 130 Falcon 9 missions, about two-thirds of which were dedicated to Starlink deployments. According to astrophysicist and satellite tracker Jonathan McDowell, SpaceX currently operates nearly 7,000 Starlink satellites in LEO.

The Starlink network aims to provide high-speed, low-latency internet access to users around the world, especially in regions lacking traditional infrastructure. With this latest launch, SpaceX is expanding the network’s capacity and coverage, bringing its dream of global connectivity closer to reality.

Recyclability and sustainability


The Falcon 9 rocket’s first-stage booster exemplifies SpaceX’s commitment to reusability, a key factor in reducing the cost of spaceflight. By successfully landing and reusing the rocket, SpaceX has revolutionized the aerospace industry and set a new standard for sustainable space operations.

However, the rapid expansion of the Starlink constellation has raised concerns among astronomers and environmentalists. The growing number of satellites in LEO has created problems such as light pollution, which can interfere with astronomical observations, and space debris, which poses a threat to other spacecraft. SpaceX is actively working to mitigate these issues by implementing measures such as blacking out satellite surfaces and responsibly deorbiting inactive satellites.

The February 4 launch is part of SpaceX’s broader strategy to achieve global internet coverage and support its growing customer base. With the addition of direct-to-cell-connect satellites, the company is poised to offer even more versatile and simple connectivity solutions.

As SpaceX pushes the boundaries of space technology, the world will be watching to see how the Starlink network evolves and addresses the challenges associated with large-scale satellite constellations. For now, the focus is on the upcoming launch, which will mark another milestone in SpaceX’s journey to connect the world.

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Scientists Trap Molecules for Quantum Tasks, Paving the Way for Ultra-Fast Tech Advancements

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Scientists Trap Molecules for Quantum Tasks, Paving the Way for Ultra-Fast Tech Advancements

In a groundbreaking milestone for quantum computing, researchers from Harvard University have successfully trapped molecules to perform quantum operations. This achievement marks a pivotal advancement in the field, potentially revolutionizing technology and enabling ultra-fast computations in medicine, science, and finance.

Molecules as Qubits: A New Frontier

Traditionally, quantum computing has focused on using smaller, less complex particles like ions and atoms as qubits—the fundamental units of quantum information. Molecules, despite their potential, were long considered unsuitable due to their intricate and delicate structures, which made them challenging to manipulate reliably.

However, the latest findings, published in the journal Nature, change this narrative. By utilizing ultra-cold polar molecules as qubits, the researchers have opened up new possibilities for performing quantum tasks with unprecedented precision.

A 20-Year Journey to Success

“This is a breakthrough we’ve been working toward for two decades,” said Kang-Kuen Ni, Theodore William Richards Professor of Chemistry and Physics at Harvard and senior co-author of the study.

Quantum computing leverages the principles of quantum mechanics to perform calculations exponentially faster than classical computers. It has the potential to solve problems that were once deemed unsolvable.

“Our work represents the last critical piece needed to construct a molecular quantum computer,” added co-author and postdoctoral fellow Annie Park, highlighting the significance of this achievement.

How Molecular Quantum Gates Work

Quantum gates, the building blocks of quantum operations, manipulate qubits by taking advantage of quantum phenomena like superposition and entanglement. Unlike classical logic gates that process binary bits (0s and 1s), quantum gates can process multiple states simultaneously, exponentially increasing computational power.

In this experiment, the researchers used the ISWAP gate, a crucial component that swaps the states of two qubits while applying a phase shift. This process is essential for creating entangled states—a cornerstone of quantum computing that allows qubits to remain correlated regardless of distance.

Overcoming Long-Standing Challenges

Earlier attempts to use molecules for quantum computing faced significant challenges. Molecules were often unstable, moving unpredictably and disrupting the coherence required for precise operations.

The Harvard team overcame these obstacles by trapping molecules in ultra-cold environments. By drastically reducing molecular motion, they achieved greater control over quantum states, paving the way for reliable quantum operations.

The breakthrough was a collaborative effort between Harvard researchers and physicists from the University of Colorado’s Center for Theory of Quantum Matter. The team meticulously measured two-qubit Bell states and minimized errors caused by residual motion, laying the groundwork for even more accurate future experiments.

Transforming the Quantum Landscape

“There’s immense potential in leveraging molecular platforms for quantum computing,” Ni noted. The team’s success is expected to inspire further innovations and ideas for utilizing the unique properties of molecules in quantum systems.

This advancement could significantly alter the quantum computing landscape, bringing researchers closer to developing a molecular quantum computer. Such a system would harness the unique capabilities of molecules, opening doors to unprecedented computational possibilities.

The Road Ahead

The implications of this achievement extend far beyond academia. By unlocking the potential of molecules as qubits, the researchers have taken a vital step toward creating powerful quantum computers capable of transforming industries ranging from pharmaceuticals to financial modeling.

As researchers continue to refine this technology, the dream of a molecular quantum computer—one that capitalizes on the complexities of molecular structures—moves closer to reality. This breakthrough represents not just a leap forward for quantum computing but a glimpse into the future of technology itself.

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