Cannabis + Crypto
As many of you might know already there are several "potcoin" type cryptocurrencies on the market. You may also know that Marijuana has been legalized in several states and sooner or later it is going to be legal in all 50 states. Yet no bank is willing to accept profit from a marijuana business that I know of because banks typically think of marijuana businesses as too high risk.
Only crypto can offer banking services to marijuana businesses and these businesses also are in a very good position to pass on the benefits of crypto tech to their patrons. Many people currently live with chronic pain and for some people cannabis aka marijuana has been the best treatment. Ethereum has unique capabilities to allow people to automate business processes and logic and this can benefit the growing cannabis economy in a synergistic way.
In addition, Steem with the benefits of EOS will be able to offer one of the best possible support communities for cannabis users and chronic pain sufferers on the Internet.
What do you think? Do you think Steemians should organize to make use of EOS, of Ethereum, of Steem, in support of cannabis businesses and users? What sort of smart contracts do you think could be useful to help cannabis businesses supply better service? Would a 24/7 home delivery service make sense?
I agree with your analysis, unless the Federal Bank blockade ends soon, perhaps Jeff Sessions will spook GOP swamp to act. I think transaction cost free exchanges via steem/sbd would be revolutionary in the market.
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Thanks for bringing it up. We need more ideas how to make both better!
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You know it! I'm actually building the marriage facility right now! :p https://steemit.com/kushsmokers/@decentralizd/kushsmokers-update-www-kushsmokers-com-is-progressing-along-new-plugin-added-homepage-is-working-well-now-to-add-more-pages
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I honestly think the Cannabis industry needs all the help it can get. There are growing regulations, heated debates, fear-mongering, and greedy tactics plaguing the industry. If we can use a decentralized currency to help deregulate and shed the shackles of traditional limited thinking for weed, I see the industry breaking through a lot of its current resistance.
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Do you notice that similar people who don't like cannabis also don't like crypto? Have you ever met a person who likes crypto but hates cannabis?
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Counter culture appeal to both topics
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@dana-edwards am the one who love cryto but hates cannabis ..you might notbe aware of the effects of cannabis on our nervous system ..it completely blocks the nervous signals for a transient period so when u smoke cannabis you get temporarily desensitized by itz extract ..so i suggest have a little cannabis and not too much ..
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No one believe this guy please.
If a man does not have proper linguistic skills in the dialect that we speak, he should not be taken seriously in such context.
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Dialect aside, I still think his views should be considered and evaluated.
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If only there were links that he could provide (valid sources of course), as just spreading such claims without any merit doesn't do much for most viewers here
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Don't smoke! Why hate?
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Hard to say man. Cryptocurrencies are a new mans game. Old money is only starting to hear about it, so yeah the market is likely to be a bit biased towards pro-weed at the moment, but the two aren't exactly mutually exclusive
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Yes
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Touche
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I'm pro cryptocurrency but neutral on cannabis. If it works for you, cool.
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LOL. That's true.
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I agree. Lot of scared tactics going on, all while the people with the money invested in marijuana--while a the same time sharing the legislative seat--are doing whatever they want.
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Crypto and cannabis is like SEC Gators and Gator-Ade. Mutually beneficial but not mutually exclusive. Gator-Ade became much bigger than just a sideline drinks for Florida Gators. We want crypto be be much bigger than Mary Jane sales
STEEM On !!
Dave
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CRYPTO + SPLIFFTO = FREEEEEEEEEEDOOOOOOOOOOM !!!! :) :):)
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Cannabis + Crypto are my life 😍
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haha best comment yet!
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Have and upvote and a follow for that
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Thank you. Same to you(:
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What du you thing about Hempcoin (THC) for the Cannabis industry?
https://steemit.com/hempcoin/@whatelse/the-hempcoin-thc
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I like POTcoin (POT) the most.
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Smoke weed everyday!
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I had no idea this was the case, thanks for sharing! I wholeheartedly support freedom, and sincerely hope that cannabis businesses can bloom, for the sake of all those who truly need it. Upvoted and followed!
ⓐⓒⓘⓓ ⓖⓞⓓ ⓒⓐⓣ™
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Freedom to choose is freedom to live. Lately that's been taken away ten fold. Democracy now.
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Canada is set to legalize marijuana use federally, I wonder how the banks will handle the revenue in Canada? I have a suspicion the banks wont discriminate
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In the U.S. there's plenty of demand/opportunity for better payment processing options since banks won't touch their money.
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Lean back smoke a spliff and listen to Snoop Dogg while seeing your investments ger "high"
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Interesting points, i feel the cannabis industry is about to explode in the US. US cities are already holding public Q&A meetings about full legalization. Without diving into detail It's simply a matter of time at this point. With the banks help or not, the majority of the current currency used in this lucrative business is cash.
Now as for crypto-currency i feel it is a still a bit ahead of its time, but growing! There's just currently an inflation of crypto-currencies that exist and i feel a lot of them won't last. Kanye West has his own crypto-currency for gods sake! Now being an investor of both fields myself, i am optimistic! I think once all the fad alt-coins dissipate and allow for the stronger more established crypto-currencies to flourish is when we may see more opportunities for cannabis and crypto-currency to potnerup! (sorry bad pun)
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The Cannabis industry is going to explode in the next year. Canada will start to legalize in 2018... I had no clue until recently that potcoin existed as well as steemit. But having a decentralized form of so called money system is imperative at this time period. The world must get away from accounting practices.
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Doesnt ethereum allow for contracts or something in the block chain? I figure that would work best for transactions
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PotCoin (POT), CannabisCoin (CANN), HempCoin (THC) i think all 3 have a great future i have invested in all 3 :-)
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I think there's also Marijuanacoin and another 5th one.. oh boy. It's getting hard to keep track of all of them
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Oh yes you are right there is also HempCoin (HMP), Marijuanacoin (MAR), CannaCoin (CCN), MaryJane Coin (MARYJ), Dope Coin (DOPE), Sativa Coin(STV), Weed Tokens (WETK), Bongger (BGR), Grow Coin (GROW)
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I think this could be an interesting concept. It's rather difficult for many Marijuana businesses to get support from banks since besides being high risk it might be seen as somehow negative for the bank's image even if legalized. I believe cryptocurrency can offer an avenue for many of these companies to get financial support they can't otherwise get normally.
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Hi @dana-edwards, it's certainly sounds like a good option and there are plenty of crypto sellers who are willing to accept cash too. You would have to be careful about when you banked though given the markets current volatility. Actually maybe Steem Dollars would be a good option since they are relatively stable.
It's not only chronic pain sufferers who can benefit from Cannabis either, it's useful for treating a fairly wide range of conditions. I actually listed quite a few of the medical applications for Marijuana in my last post "Seven Herbs & Spices With Medicinal Properties", check it out if you get time!
Followed and upvoted!
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Steem Dollars don't hold the peg though and also Steem Dollars need to connect to fiat. I would use a pot oriented coin and trade that for Steem Dollars.
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Yeah good idea, Potcoin was invented for the very purpose of providing banking for the Marijuana so could be a good option.
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As a daily toker myself i know how strong the cannabis community is.
We really value symbols, stoners would love to use a potcoin just for the name, not even mentioning the other economic benefits.
Free the weed!
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Cannabis should be legalized in all 50 States and then World Wide!!
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It'd be big business if such things were to happen!
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Very interesting read..
I'm somebody within the UK cannabis community. There are constant obstacles to running a canna business, even online, and crypto can solve some of them e.g. payments gateways and affiliates revoking access, not being able to advertise in places.
I look forward to seeing what the future brings in this area - I'd invest in something which provides a genuine solution!
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The entire cannabis industry in the United States needs help. Let's all organize and support the cause.
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I work in the industry and no banks cannot service us. Everything is in cash which means our sales team is rolling around town with tens of thousands of dollars in Product and cash. There have been a lot of robberies lately here in AZ. Maybe crypto is the answer.
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Yes the cannabis industry must be getting targeted big time by thieves . Research Ethereum smart contracts and get on their blockchain. Cryptocurrency will definitely make the industry safer.
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Check out Potcoin...those guys are doing good work. They need more help and support though.
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Which marijuana coin is the best investment? I know of 3 at the moment, DOPEcoin, POTcoin, and CANNabiscoin.
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Interesting Match :)
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I prefer crypto + a normal cigarette 😍
Thanks for your post ❤
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Do you at least own stock in big tabacco if you're a smoker?
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Nope, I wanna quit 😭
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Really wolf??..a cigarette???....they kill...you know that right? You know that theres never been a documented case of someone dieing from cannabis right? Okay...continue with your Marlboro. lol
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I don't want to continue, that's the thing..
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Cannabis and cryptocurrency illegal in my country. And i love who banned in my country
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Interesting proposition. It should definitely get more attention.
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By joining forces perhaps better laws can be put in place for both crypto and cannabis users.
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Its possible.
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I think you should check out the guys at Potcoin. They have a good vision over here that I am a supporter of. They have an industry specific coin. I believe the coin has to be revised with a few more protocols specifically catered to the cannabis industry but it can potentially take off.
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New here! How is it specific to the industry? What services does it provide? I know I can look it up, but hoping to make friends/convo here on Steemit.
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very nice
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Too bad potcoin is spending all of its money sending gay men to go and see kimmy boy in north korea. You would think they would be better off focusing any residual funds that they had on legalization initiatives or promoting cannabis use as an alternative to opiates
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It might indirectly promote legalization if something good comes from it but hard to know.
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Only time will tell. I know in Canada we will be fully legalizing it by next year so we will see
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i dont know all numbers and all shady plan or project but of course its an great invetements , can be for money purpose only because are we sure that they gonna use the bennefit in a right way i dont really understand in how can we ehelp each other if only talk about numbers and stuff, i dont see any change i just see people making money agan and agan and the ganja bizness normally have to serve purpose ok ok its nice to have cash but normally have enough ressource on earth for we all be rich so hope big bizness manager gonna give you up solution voted and soon followed see you around @dana-edwards
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Can we call it Cannacrypto?
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Its just a matter of time before the big banks will accept marijuana businesses to open an account with them.
I mean lets be honest here, how many people (including myself) have taken money out of your bank and put it into cryptos. Im sure the banks arent too happy about that.
Crypto Currency is WorldWide. Marijuana is not.
However, 100% worth looking into. Any suggestion besides potcoin.
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LOL great comparison tho.
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Followed an Up-Voted! Thank you so much for this! I even re-steemed it!
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so even legal dispensaries are having banking problems? If so that is a real shame for the banks to turn there backs to this amazing new industry. I smoke quite often and it's helped me a great deal in life.
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Yes, since Marijuana is still federally illegal and bank are controlled by the government...banks want touch them. That would be money laundering. Now there is some smaller independent banks who are starting to do business with dispensaries.
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As a medical cannabis user myself, I am curious to the answer to some of these qusetions!
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Very interesting concept and perspective :) I'm sure there are a lot of actual medical and good applications for marijuanna but I'm just wondering about the possible abuses as well. But then again, if it's already legally available, I agree that it would potentially be better with crypto and smart contracts :)
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Most to all disperseries only accept cash. Yet some banks have also turned away turned them away because of "risky business" they say. Crypto plus marijuana equals freedom of money and medicine!
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The fed doesnt like crypto or legal cannibus. Combining the two would probably put a ginormous target on any business owners back.
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Interesting questions. I don't know that much about the legal cannabis industry yet, but I fully support it's legalization and have much hope to see benefits found in medical marijuana research. I do hold some Potcoin and was happy to see Potcoin was my one coin that did not radically drop in value today. You raise some good points to ponder. Perhaps Steemit could do something to further Pot legalization and acceptance. I'm all for it!
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i love cannabis!!!:))
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I'll smoke to that man!
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Bitcoin's first real use-case was buying drugs on the Internet, so it makes perfect sense that the cannabis industry would benefit from crypto.
However ... what do these cannabis coins offer that other crypto coins don't? Why should anyone use POT coins instead of ETH?
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This just makes sense seeing how traditional banks want touch them.
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Monero (XMR) and ZCash (ZEC) are great potentials for these industries as they provide anonymity which Bitcoin doesn't
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Already bought my Potcoins, did you?
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in I live area very much grow this marijuana plant, friend
we live in aceh area
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Directly that was i thinking when i posted my story to fund my bong idea! :) Great content! I see great potential in crypto and the cannabis industry as long it will stay a cash only business in the USA.
Check out my Idea of a bong.
https://steemit.com/introduceyourself/@adamicelli/i-am-an-aspiring-young-entrepreneur-who-wants-to-build-the-first-smart-modular-water-pipe-system
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I just think about it. It is actually a great match. Interesting subject.
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this is good
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Why is it good?
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because I think crypto and weed do go together
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Absolutely. Payments and cash flow is the biggest challenge with "legal" MJ business. Why not tokenize it with cryptocurrency, for maximum security?
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slightly on a tangent, though this got me thinking about an idea I had earlier this week...
Could be interesting to see how blockchain evolves with other (currently illegal) drugs... of course, there is a thriving market in the dark web - though as more research is being conducted on psychedelics within legal boundaries, it's worth a wonder what systems could be created to facilitate the expansion of research projects out, whereby people could obtain certain substances in order to be part of study groups.
Might seem like a far-out idea at this point - but if people are buying illegally anyways, it'd make sense to legitimize use, do away with the crime element, and serve ongoing research with a wider range of test subjects. Easier said than done, obviously, though could be interesting...
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NOW were talking! :D who doesn't love the combo
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