By ANDREA LANNOM
The Register-Herald
CHARLESTON, W.Va. — In a letter sent to legislative leadership and the governor, West Virginia State Treasurer John Perdue is proposing two options for processing medical cannabis funds.
The first recommendation is a closed-loop, open-loop or combination system. A closed-loop system would provide a way for payments to be made only within a network of entities and individuals who have accounts within the system. The system would monitor and facilitate financial transactions between state and authorized entities associated with medical cannabis.
An open-loop system would provide payment services that could also generate payments outside the network. The letter said this would provide a way for establishing accounts by entities associated with medical cannabis, maintain fraud prevention practices, provide reporting including online access and integration with the Bureau for Public Health, and provide other services including armored car/courier services.
Read the entire article: http://www.register-herald.com/health/options-proposed-for-processing-state-s-medical-cannabis-funds/article_fe1e25e9-8288-5c2b-b93c-ffa7bced99e9.html
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