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Los Angeles To Start Cannabis Coworking Space Using Cryptocurrency

Applications will start being accepted on April 20th

Back in 2010, WeWork emerged on the scene and took coworking spaces mainstream.  They created facilities to allow freelancers, independent contractors, and startups to enjoy the benefits of office life—socialization, networking, high-speed internet—without the restrictions of working directly with your boss.  In their wake, many other companies have opened coworking spaces.  However, most of these facilities are restrictive in who they will rent to, and cannabis companies are often left out.

However, coworking’s origins are in marginalized industries.  Tracing its roots, the concept seems to have originated in the mid-1990s within the hacker community.  The idea was to give people within the community a space where they could work together and improve both as individuals and as a larger field—something generally not available to them due to the stigma that surrounds hacking.

Cannabusinesses face a similar stigma.  Even when they operate fully within the bounds of state law, many coworking spaces are hesitant to rent space to them.  When these spaces do rent to them, it can still be difficult to take advantage of some of the benefits of the space, given that it is unlikely that there will be many opportunities for networking within their niche.

To address this gap in the market, cannabusiness-exclusive coworking spaces are emerging.  The concept is several years old, having first been seen in Colorado.  Now that legalized adult recreational use has come to California, coworking spaces for cannabis businesses are opening across the state.

One such coworking facility that is slated to open soon is The Paragon Space.  Located in Hollywood at 1452 Tamarind Avenue, it is run by Paragon, known for its blockchain technology platform made exclusively for the cannabis industry.  Compared to many other coworking spaces, its office access will be significantly restricted, open only to cannabusinesses who are holders of PRG Coin—Paragon’s cryptocurrency.

In addition to private offices and open working spaces, they plan to have public spaces, meeting rooms, and communal areas that will be accessible to non-PRG Coin holders, with the goal of helping to bring the larger community together.

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The Paragon Space is expected to open in July of 2018.  Applications will start being accepted on April 20th, 2018.

 

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