Two of the latest business trends are cannabis and cryptocurrency. Truth is one of the best things to happen to the cannabis industry is cryptocurrency.
The problem here, although many states have legalized cannabis, cannabis still remains federally illegal. Making it difficult for many cannabis business to get a payment processor or even a bank account. Forcing many cannabis businesses to be creative with their business model. Some are forced to remain cash only businesses.
Enter blockchain…. which is the ledger system behind most cryptocurrencies!
Most cannabis companies pay hefty fees for payment processing, which is avoided by using a cryptocurrency. Not to mention how much easier it would be for a company to organize its business in accepting a cryptocurrency rather than stacks of cash. Also offers a better customer experience.
Many companies have even come out with cryptocurrencies specifically for cannabis.