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 distinctive altcoins, cryptocurrencies and ICO token projects launching to attempt and resolve distinctive difficulties working with blockchain tech. But what the hell are Cannabis cryptocurrencies?
The initially in the space was Potcoin which launched in 2014 and although gaining some initial consideration at some point drifted into the abyss with the original developers upping and leaving the ship. Soon after some time, new administrators took manage of Potcoin and have continued to create and evolve the method in the hope it can at some point 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 escalating who will win the race?
Much more importantly ‘why all the rage with Marijuana cryptocurrencies’?
Effectively the quantity one particular challenge in the legal Cannabis business in the USA no matter if 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 dollars into banks due to federal law requiring to to be listed as “suspicious activity” very the hypocrisy for a nation attempting to be progressive and legalize Cannabis but the difficulties with federal law vs state law are a subject for yet another day and yet another site in truth.
We never like to get as well political at Distinctive Weed but at times it really is unavoidable in this landscape of prohibition, propaganda and creating a adjust.
So what does pot coin do? Pot coin can act as a monetary shop of worth to use as an alternative of fiat dollars, therefore bypassing any want for banks and numerous difficulties relating to not getting in a position to place dollars in the bank or invest in something reputable.
Other cannabis cryptocurrencies are a lot more focused on the business side and enabling significant organizations to function collectively and transact significant amounts of dollars in a quicker, less difficult and significantly less regulated manner.
Not purchased any bitcoin but? Have you been in a coma or living beneath a rock? If you are interested verify this write-up on how to get bitcoin the USA or UK working with credit cards, debit cards or even Paypal.
Cannabis Cryptocurrencies to Watch
Potcoin aims to offer the underserved marijuana business with a decentralized banking infrastructure and payment options. Persons will be in a position to use Potcoins to save dollars, scale and bypass legal barriers.
HempCoin is yet another early Cannabis cryptocurrency created in 2014 but focuses a lot more on the agricultural and farming side of the Marijuana and Hemp production business. It really 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 totally equipped ParagonCoin Centers in all 29 states of America exactly where cannabis will be legal quickly.
Their ambitions are significant and the ICO is a way of raising the capital vital to create their concept.
Smoke.Network plans to do anything distinctive, by creating the initially cannabis neighborhood to reward customers for building content material working with blockchain technologies. This is like Leafly on the blockchain exactly where the neighborhood reaps the rewards as an alternative of one particular centralized enterprise or authority.
This is like Steemit (the initially social network on the blockchain) only for Cannabis customers and content material creators as an alternative!
What are your thoughts? Are you invested in any Cannabis coins or ICOs? we would really like to hear your thoughts in the comments.