The Real Deal Los Angeles

A cannabis-only coworking space is coming to Hollywood

Paragon says marijuana businesses have a hard time getting space
March 14, 2018 05:00PM

(Credit: Paragon Coin, Max Pixel)

You could call it a green space.

A company that wants to use the blockchain to legalize cannabis worldwide is creating a coworking space in Hollywood strictly for small companies and freelancers working in the legal pot industry.

Paragon is aptly calling its new space the Paragon Space, which will be located at 1459 Tamarind Avenue near Sunset Boulevard.

The space will only be accessible to companies and individuals that own Paragon’s cryptocurrency, PRG Coin, according to Curbed. Paragon also said on its website that it’s paying for the space in cryptocurrency. Customers will be buying snacks from its vending machine exclusively with PRG Coin as well.

Paragon created the space because it said marijuana industry startups have a hard time renting office or desk space at traditional spaces, according to Curbed. They also have a hard time buying space for a decent price.

Paragon plans to open the Paragon Space on July 1.

California’s recreational use marijuana laws went into effect in January, which allows adults to consume it recreationally and also legalized industry businesses, but Paragon is focused on cannabis’ medical uses.

According to its website, Paragon wants to “foster a community dedicated to the worldwide legalization and systematization of cannabis,” using the blockchain to create a network and record for growers, suppliers, doctors, and patients. One app in the works allows users to track a marijuana product back to its grower. [Curbed] — Dennis Lynch