The History of Psychedelics (Part 2 of 2)
In part one of this two-part series, we unearthed the story behind the prohibition of psychedelic substances, and how strict regulations resulted in a hugely stigmatized industry.
Over the last decade however, new breakthroughs proving the untapped therapeutic potential of medicinal psychedelics are coming to the fore, leading many to believe that restricting them may have in fact been premature.
The graphic above from Tryp Therapeutics is the last in a two part series that explores how psychedelics have evolved over the last 6,000 years.
The Psychedelic Renaissance
After decades of being labeled as illegal narcotics, the industry reinvented itself as a viable solution for treating hard-to-treat illnesses in a safe and controlled way.
“Psychedelics, used responsibly and with proper caution, would be for psychiatry what the microscope is for biology and medicine or the telescope is for astronomy.”
This unprecedented comeback has sparked a global medicinal psychedelics movement, with the U.S. leading the way in decriminalizing these powerful drugs.
|The FDA grants MDMA-assisted psychotherapy Breakthrough Therapy Status||U.S.|
|COMPASS Pathways receives Breakthrough Therapy Status from the FDA for a psilocybin synthetic derivative||U.S.|
|Esketamine is approved in the form of Spravato by the FDA, followed by European Commission approval||Global|
|Denver, Colorado and Oakland, California vote to decriminalize psilocybin mushrooms||U.S.|
|The world’s first microdosing study using LSD is approved in Auckland||New Zealand|
|Usona Institute receives Breakthrough Therapy Status for psilocybin treatment for Major Depression Disorder (MDD) ||U.S.|
|Santa Cruz, California votes to decriminalize psychedelic substances including psilocybin, ayahuasca, and peyote||U.S.|
|MindMed becomes the first publicly traded psychedelics company||U.S.|
|More than 45 companies claim to be engaged in the development and evaluation of therapeutic candidates from psychedelic substances||Global|
|Oregon legalizes psilocybin and decriminalizes all drugs||U.S|
|Washington, DC decriminalizes entheogenic psychedelics||U.S|
|New research suggests DMT can stimulate the production of new brain cells||Spain|
|MAPS completes first successful Phase III trial of MDMA-assisted psychotherapy||U.S.|
|Analysts announce that psychedelics could become a $100 billion market||Global|
With study after study proving the many benefits of utilizing psychedelic substances for a range of both mental and physical conditions, huge progress in legitimizing this once stigmatized industry is now being made.
The Future of Psychedelics
Psychedelics’ newfound momentum looks set to continue well into 2021 and beyond, with the first major milestones hinting at what the next decade could hold for the industry.
|2021 (Jan)||In Hawaii, a Senate bill put forward in January could legalize psilocybin and psilocin, otherwise known as magic mushrooms||U.S.
|2021 (Feb)||With California now introducing new legislation to decriminalize most psychedelic substances, we could see a sea-change of decriminalization across the world||U.S.|
|2021 (March)||Over 285 active, soon to be active, and completed psychedelics trials are recorded around the world ||Global|
The next chapter in the psychedelics story will center around biotechnology, new drug discoveries, and the many unknown applications of each of these substances.
Currently, the application of therapeutic psychedelics has mainly been targeted toward mental health conditions such as depression and anxiety. However, we have only scratched the surface when it comes to the myriad of ways we could harness the power of these sacred plants.
A New Era of Medicine
While the history of psychedelics is undoubtedly complex, it is clear that they are starting to play an important role in the evolution of medicine.
Even though studies on these substances were halted in the past, new research has proven the potential psychedelics have to alleviate some of the most hard-to-treat diseases when used in a safe, controlled environment.
As a result, these groundbreaking drugs could save millions of lives and add trillions of dollars to the global economy—and that’s just the beginning.
Tryp Therapeutics is an early leader in the psychedelic medicine space. The pharmaceutical company leverages the therapeutic properties of psilocybin to create new solutions for the treatment of diseases with high unmet medical needs.
Visualizing the Rise of Cryptocurrency Transactions
As cryptocurrency transactions rise, merchants are looking to position themselves to take advantage of this new wave of crypto spenders.
Visualizing the Rise of Cryptocurrency Transactions
After Bitcoin and cryptocurrency’s wild bull run in late 2020 and early 2021, many holders are now using cryptocurrencies for their intended purpose: payments.
Every day, approximately $12 billion are transferred across the Bitcoin, Ethereum, and Litecoin blockchains, with millions of people using cryptocurrency for payments daily.
This graphic sponsored by CoinPayments looks at the rising transactions of the Bitcoin, Ethereum, and Litecoin networks.
Cryptocurrency Transactions are Rising in Value and Number
While prices are often the focus when crypto is in the spotlight, transaction counts show how much a network is being used as a medium of exchange. In just over five years, daily transactions across the Bitcoin, Ethereum, and Litecoin networks increased sixfold, from just 250,000 to more than 1.5 million transactions a day.
In mid-2017, Ethereum overtook Bitcoin in daily transactions as ETH was necessary to participate in ICOs (initial coin offerings), which fueled much of the speculation in the 2017 price run. With Ethereum still hosting thousands of ERC-20 and ERC-721 tokens on its blockchain today, its transaction counts have grown to be much higher compared to Bitcoin and Litecoin’s.
Along with crypto’s rising transaction numbers, the average USD value per transaction has increased by a minimum of 4x over the past five years.
|Year||Average Value per Bitcoin Transaction||Average Value per Ethereum Transaction||Average Value per Litecoin Transaction|
Source: Coin Metric
2021 figures as of July 13th, 2021
Crypto Spenders are Searching for Merchants
As transaction counts and values rise, merchants play a vital part in pushing forward the adoption of digital currencies for payments.
Many cryptocurrency users consider merchant adoption as a key barometer of success for crypto adoption. While companies like AT&T, Namecheap, and Overstock already accept crypto payments, there are still many businesses around the world which don’t offer cryptocurrency as a method of payment.
In a survey of over 8,000 U.S. consumers, 66.7% of crypto owners and 54.2% of non-owners said that not enough merchants accept cryptocurrency. Along with this, 47% of crypto owners said they seek out merchants that accept crypto for purchases, indicating clear demand for more crypto-accepting businesses.
How Can Merchants Make the Most of the Crypto Boom?
As the world embraces crypto, merchants need the in-store and online tools to be part of this next wave of commerce. Accepting crypto opens merchants up to an untapped audience of new consumers, eager to spend their crypto.
CoinPayments makes it easy to start accepting crypto payments at online checkout and with POS systems, with features like auto-coin conversion and over 2,000 coins supported.
Find out more about how the crypto market is growing, adapting to consumer needs, and the opportunity it presents to merchants around the world.
Visualizing the Economic Impact of British Columbia’s Golden Triangle
British Columbia’s Golden Triangle generates massive revenue and investments for the province, but where did it all begin?
The Economic Impact of British Columbia’s Golden Triangle
At the heart of British Columbia’s mining industry lies the Golden Triangle. This region has helped transform the province’s mining industry into a significant source of revenue and investment.
In 2020, the Golden Triangle accounted for roughly 44% of the $422 million in mineral exploration expenditures in British Columbia. In 2019, the Red Chris and Brucejack mines contributed around $1 billion to the province’s estimated annual gross mining revenues.
This infographic is sponsored by the B.C. Regional Mining Alliance (BCRMA) which brings the best of this region to the world through a partnership between indigenous groups, industry, and provincial government representatives.
Here is how the Golden Triangle began.
The Golden Triangle’s Unique Geology
Between 220 and 175 million years ago, the Golden Triangle’s wealth was forming deep in the Earth for the world to discover. Most metal deposits form from superheated water that cycle over many kilometers, collecting metal atoms as they rise to the surface of the Earth’s crust and settle into deposits.
Industry, government, and university geologists have worked for over a century to understand the Golden Triangle’s unique geology to uncover its mineral wealth. This unique geology cradles the world-class deposits that define the legendary “Golden Triangle” of British Columbia.
A History of Discovery and Mining in the Golden Triangle
Historical gold rushes brought mining to the area, but the region’s vast copper deposits will deliver the key mineral for B.C.’s green future. More than 150 mines have operated in the area since prospectors first arrived at the end of the 19th century.
- 1861: Alexander Choquette kicked off the Stikine Gold Rush after finding gold at the confluence of the Stikine and Anuk Rivers.
- 1918 – 1952: The first big discovery in the Golden Triangle was at the Premier Gold Mine, which started operations in 1918. It produced 2 million ounces of gold and 45 million ounces of silver. Today, Ascot Resources is re-starting processing from this gold mine.
- 1964: The Snip Mine was discovered by Cominco but the deposit stayed dormant until 1986. The mine produced approximately 1 million ounces of gold from 1991 until 1999. Today, Skeena Resources is advancing the Snip Project.
- 1994: Eskay became Canada’s highest-grade gold mine and the world’s fifth largest silver producer, with production above 3 million ounces of gold and 160 million ounces of silver. Skeena Resources is also bringing the Eskay mining back into production.
- 2009: The discovery of the Brucejack gold and silver deposit led to the development of an underground mine. The mine has produced 1,230,644 ounces of gold since it began operations in 2017.
- 2013: The KSM Project is one of the largest undeveloped gold projects in the world. A Preliminary Feasibility Study estimates proven and probable reserves total 38.8 million ounces of gold and 10.2 billion pounds of copper.
- 2015: The Red Chris shipped its first load of copper concentrate. In 2020 metals production was 88.3 million pounds copper and 73,787 ounces gold. Imperial Metals and Newcrest jointly operate the mine.
This long tradition of discovery and mining is laying the foundations for the next generation of investment.
Today’s Golden Age for Exploration and Development
Continued exploration is necessary for new discoveries and advancing projects to new mines. More importantly, the minerals discovered today will be needed in the low carbon economy and British Columbia—in particular, the Golden Triangle will play its part in delivering metals for renewable technology.
|British Columbia||Northwest Mining Region||The Golden Triangle|
|Average Expenditure Per Project||$1.6M||$3.4M||$7.09M|
Source: Based on data collected for the EY LLP, 2020 British Columbia Mineral and Coal Exploration Survey
Gold and copper account for most of the exploration in the Golden Triangle, but other commodities for the low-carbon economy such as silver, nickel, and zinc also attract interest. A strong exploration industry is the beginning for future investment, new jobs, and community development.
A Bright Future: Investing in Community
The Golden Triangle continues to attract exploration activity as infrastructure and community development lays the success for future generations and industries.
- Agreements with First Nations (Tahltan and Nisga’a Nations)
- 38% of expenditures stays in the region
- 97% stays in British Columbia
- 150+ communities benefit
- The paving of the Stewart-Cassiar highway
- The opening of ocean port facilities for concentrate export at Stewart
- The completion of a $700-million high-voltage transmission line bringing power into the region
This is a new beginning for the continued economic impact of British Columbia’s Golden Triangle.
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