A new Los Angeles co-working space that offers cannabis companies a safe place to conduct business will open its doors in July.
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The concept, called The Paragon Space, aims to help companies within the cannabis industry secure office space at a time when stigma still makes it difficult to lease space from landlords and property managers, Curbed reports. Located in Hollywood at 1452 Tamarind Ave., the venture is being spearheaded by blockchain technology platform Paragon.
The company, which focuses specifically on the medical cannabis industry, will pay for the build-out with cryptocurrency, The Real Deal reports. While public spaces, meeting rooms and communal areas such as a café will be open to the general cannabis industry, only users with PRG Coins will be able to rent out desks and offices.
"We know how hard it is for those in the cannabis industry to rent office or desk space, so we are providing you a helping hand," the Paragon website states.
CORRECTION, MARCH 22, 1:36 P.M. ET: A previous version of this story incorrectly listed the form of currency The Paragon Space will use to pay for its build-out as well as the name of the company. The story has been updated.
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