This year has been a momentous year for Bitcoin, cryptocurrencies and blockchain technologies as we have noticed Bitcoin up 7X in a year and hundreds if not thousands of various altcoins, cryptocurrencies and ICO token projects launching to attempt and resolve various troubles working with blockchain tech. But what the hell are Cannabis cryptocurrencies?
The 1st in the space was Potcoin which launched in 2014 and even though gaining some initial interest ultimately drifted into the abyss with the original developers upping and leaving the ship. Just after some time, new administrators took handle of Potcoin and have continued to create and evolve the method in the hope it can ultimately be the quantity one particular Cannabis currency.
But now we have Hempcoin, CannabisCoin, Dopecoin, and ICO’s Smoke.Network and Paragon to boot! So with competitors in the space rising who will win the race?
A lot more importantly ‘why all the rage with Marijuana cryptocurrencies’?
Properly the quantity one particular problem in the legal Cannabis business in the USA irrespective of whether it be for the health-related marijuana business or for recreational Cannabis customers is that dispensaries and producers of Cannabis are unable to place the revenue into banks due to federal law requiring to to be listed as “suspicious activity” pretty the hypocrisy for a nation attempting to be progressive and legalize Cannabis but the troubles with federal law vs state law are a subject for one more day and one more site in truth.
We never like to get also political at Various Weed but often it really is unavoidable in this landscape of prohibition, propaganda and generating a modify.
So what does pot coin do? Pot coin can act as a monetary retailer of worth to use rather of fiat revenue, hence bypassing any require for banks and numerous concerns relating to not becoming in a position to place revenue in the bank or invest in something genuine.
Other cannabis cryptocurrencies are additional focused on the business side and permitting huge firms to operate with each other and transact huge amounts of revenue in a quicker, much easier and significantly less regulated manner.
Not purchased any bitcoin however? Have you been in a coma or living below a rock? If you are interested verify this post on how to purchase bitcoin the USA or UK working with credit cards, debit cards or even Paypal.
Cannabis Cryptocurrencies to Watch
Potcoin aims to present the underserved marijuana business with a decentralized banking infrastructure and payment options. Individuals will be in a position to use Potcoins to save revenue, scale and bypass legal barriers.
HempCoin is one more early Cannabis cryptocurrency created in 2014 but focuses additional on the agricultural and farming side of the Marijuana and Hemp production business. It is also a fork of the original Bitcoin supply code.
Paragon Coin is a current ICO to raise funding for a project involving the creation of a chain of higher-tech completely equipped ParagonCoin Centers in all 29 states of America exactly where cannabis will be legal quickly.
Their ambitions are huge and the ICO is a way of raising the capital required to create their thought.
Smoke.Network plans to do some thing various, by developing the 1st cannabis neighborhood to reward customers for producing content material working with blockchain technologies. This is like Leafly on the blockchain exactly where the neighborhood reaps the rewards rather of one particular centralized firm or authority.
This is like Steemit (the 1st social network on the blockchain) only for Cannabis customers and content material creators rather!
What are your thoughts? Are you invested in any Cannabis coins or ICOs? we would adore to hear your thoughts in the comments.