The cannabis industry is worth around $250 billion on a global level. What’s more, it’s one of the fastest growing-markets in the United States.
However, it’s also a market that faces many regulatory problems, such as the payment problems and restrictions imposed by governments. For example, banks and traditional financial institutions are cautious and unwilling to cooperate with companies in this industry, even if they operate legally. That means, that payments, in most cases, can be cash-only.
And governments are merciless when it comes to regulating the cannabis industry. For instance, some US cannabis companies are heading to Canada to list on stock exchanges because in their home country, they face federal bans.
Luckily, the cryptocurrency world has a solution.
Since cryptocurrencies aren’t linked to any central authority such as banks or government institutions, they can provide regulated and secure payments for customers and cannabis-related companies.
And naturally, it didn’t take long for these companies to see the potential and benefits of cryptocurrencies. In fact, in recent years, we saw a huge growth in the startups combining cannabis and cryptocurrencies.
So, here are some of the best cannabis coins in the crypto sphere.
Multichain Ventures – tools for universal crypto merchant solutions
First on our list is Multichain Ventures. It’s an ecosystem of software tools that allows payments, blockchain development, and supply chains.
The platform’s tools include products such as:
- Cubed, a payment solution for merchants in the cannabis industry, who wants to offer their customers cryptocurrencies as a payment method.
- Tokes Platform, which provides a blockchain-based infrastructure and solves the cannabis industry’s banking problem through cryptocurrency payments.
- EDEN, blockchain-powered toolsets that improve the visibility and accuracy of supply chain data.
- Reli.cloud, a Platform as a Service for DevOps for deploying and scaling blockchain-based apps.
The Multichain platform currently has an airdrop open you can claim within a few minutes.
DopeCoin – cannabis coin for marijuana enthusiasts
DopeCoin was founded in 2014, but after a rebranding in 2017, the company changed its name to DopeCoin Gold.
The cryptocurrency allows cannabis merchants and consumers to make transactions easily. Moreover, with DopeCoin users can perform fast and secure transactions without any cost.
If you want to start trading with DOPE, you can do that on crypto exchanges such as Mercatox and Bittrex.
PotCoin – cryptocurrency solution for global cannabis industry
PotCoin was launched in 2014 and it’s one of the first cannabis coins. The coin is aimed at both businesses and individuals.
With PotCoin, cannabis enthusiasts can make transactions and interact via the Internet in a fast and secure way.
In June 2017, the NBA star Dennis Rodman promoted the coin by wearing a potcoin.com shirt during a visit to North Korea. This gave PotCoin a media spotlight and a huge jump in the price.
In 2019, the coin added some new features such as HD Wallets and faster network synchronization.
Watch out: Paragon – decentralized solutions for the cannabis industry
Paragon was launched in 2017, and according to its website, the company builds ”the next generation of seed-to-sale tracking software based on blockchain.”
The Paragon ecosystem can be used for cultivation, transportation, distribution, and testing in the cannabis seed-to-sale tracking.
Paragon went through some rough times when the SEC came down on the company and accused it of violating the rules regarding the issuance of security tokens. As a result, Paragon had to pay a $0.25 million fine to the SEC.
Final words about the cannabis coins
The cannabis industry is a huge market that is also facing huge challenges. In recent years, however, cryptocurrencies showed that they could be a good solution to these problems.
As a result, we can see the increasing number of cannabis coins that are transforming the market.
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