Weed history is being made in Seattle: the first vending machines to dispense marijuana flower buds debuted Tuesday.

The machines, called ZaZZZ, are being placed in medical pot dispensaries, which helps to verify customer's age and identity since medical marijuana cards are required to enter the centers, said Greg Patrick, a spokesman for the maker of ZaZZZ, American Green.

Though vending machines appeared for the first time in Colorado last year, those sold only edibles, or cannabis-infused foods, and not the plant's flower buds that are so often associated with smoking pot.

Operated by three siblings, Medicine Man has become the largest cannabis dispensary in Denver and an example of how to run a business in the burgeoning pot sector.

In the beginning, Pete Williams grew medical marijuana in his basement. He grew strains with names like White Widow and Sour Diesel, and it was good. Eventually, Pete's older brother Andy joined him and the business soon became too big for the basement. Five years later, Medicine Man is one of the largest and most successful cannabis dispensaries in the state of Colorado. With two retail locations, one in Denver and the other in Aurora, the company produced 7,000 pounds of pot and made $8 million in revenue in 2014. 

Native American tribes can now grow and sell marijuana on reservations — but whether to enter the emerging market could be a daunting choice.

Cannabis represents a huge economic opportunity for tribes, which maintain the right of self-government. Few, however, have publicly embraced the idea.

Here’s what you need to know about marijuana on tribal lands.

1. The Department of Justice said tribes can move forward with legalization

The federal government considers federally recognized Indian tribes “domestic dependent nations,” which means they have the right to govern themselves.

According to Josh Gordon, CEO of The Bureau (formerly RODAWG), it’s about time that the cannabis industry becomes more like the fine spirits industry. As it currently stands, the market is growing, but Gordon thinks there’s still an unhealthy amount of ‘black market’ feeling hanging around.

But how do you eliminate something so ubiquitous? For Gordon and the team at The Bureau, it all boils down to branding.

Together with his team, Gordon has developed a strict plan that will help them fulfill this mission. He’s already actively engaged with investors, seeking to raise the next round of capital to continue doing custom packaging for dispensaries.

The CEO of PhytoTech Medical, the first ASX listed medical marijuana company, has resigned.

Ross Smith’s departure comes less than two weeks since the company made its ASX debut, after which the share price soared.

However the share price has fallen back since. Phytotech shares were trading down 8.42% to $0.435 today.

His departure comes after a series of other company appointments, but also following some posts to his Facebook page.

Medical marijuana users will be among the earliest users of bitcoin, according to bitcoin entrepreneur Peter Klamka. Klamka’s Ann Arbor, Mich.-based company, Bitcoin Brands, has placed a bitcoin ATM machine at one medical marijuana dispensary and is in the process of placing another two in the Grand Rapids area.

Klamka’s bitcoin ATM machine, made by Portland, Ore.-based Skyhook, provides the customer a QR code which they get scanned at the checkout counter by a clerk using a bitcoin payment tablet.

“The (payment) technology is like a gift card,”

Entrepreneurs hope to capitalize on multimillion-dollar green rush with plan for licensing authority

This is a follow-up to last week’s post on medical marijuana for bipolar. In the post, I noted that a case can be made for using the product in very small doses to relieve symptoms and maintain mental health, but with some very strong provisos.

In particular, I noted: 

All medications, including psychiatric meds, carry substantial risks that must be weighed against potential benefits. Marijuana is no exception.

I also pointed out:

In the world of medical marijuana entrepreneurs in Illinois, there’s plenty of green behind the grass.

Hundreds of would-be medical marijuana growers and sellers have put millions of dollars on the line hoping for coveted state permits that were supposed to issued by former Gov. Pat Quinn by the end of last year.

To snag those valuable permits, the entrepreneurs hired consultants, lawyers and lobbyists.

They’re already paying rent, in some cases, or have money tied up in options to buy property.

And now, they wait. And with millions of dollars on the line, waiting can get expensive.