The financial world is constantly changing with new technical advances. In the world of digital finances, there are two things that are growing exponentially: cannabis and cryptocurrency. If you had told people 10 years ago that in 10 years cannabis and digital money will be legal and growing quickly nobody would’ve believed you. Over the past few years, both the cannabis and cryptocurrency industries have made radical development in the market and have made big waves in the financial sector.
Both industries have showcased their mighty potential individually and are considered to yield great returns. Technology is evolving at lightening fast pace and so is human culture. In the early 2000’s a majority of Americans were against cannabis, now a majority support legalization. Everyday you can see some new revolution taking place, turning the tables on the establishment. Cryptocurrency and cannabis were two such revolutions whose impact is still being felt in the financial market. Young people embrace these 2 industries at a much higher percentage than older people.
It is proven that certified medicinal cannabis possesses the potential to emerge as a strong contender against multimillion pharmaceuticals in the world..
As of June 2019, Washington D.C and 11 other states have legalized the use of cannabis for adults and 33 states have made it legal to use medical cannabis.
Medical cannabis and recreational cannabis are sort of blurring together. Both products have opened up new avenues for potential investment in the future. The cannabis industry has shown exponential growth in the past few years that has encouraged investors to spend billions on new businesses.
Complex computer programming, self developing artificial intelligence, proof of stake and many other technological developments has made cryptocurrency a hot topic.
The advancements in the cryptocurrency field have made the virtual financial network a safer place. All transactions in the cryptocurrency world are regularly updated and verified under untraceable process making every transaction confidential and secured. As a result, investors have become enthusiastic and confident to deal in cryptocurrency making crypto grow even faster.
Cryptocurrency and Cannabis
Cryptocurrency and cannabis are considered as the archetype of art that imitates life and vice versa.
Strongly established cryptocurrency organizations as well as the budding newcomers in the industry are making efforts to explore the legal cannabis industry. They are making an investment in the cannabis market in order to kill 2 birds with 1 stone. The same is happening in the cannabis market. Big players in the marijuana stock market are venturing into the cryptocurrency industry and taking part in the transactions as active participants and investors. It is quite evident that both the industries have overlapping benefits that eventually trigger them to merge at some point. That’s exactly what happened and gave rise to cannabis-cryptocurrency industry. If you are living under a rock you wouldn’t know that there is a new cannabis/cryptocurrency hybrid organizations are sprouting up with cannabis associated cryptocurrency.
What is Cannabis Cryptocurrency?
As mentioned earlier, cryptocurrency has promoted the development of cannabis market. It was really a perfect storm for both cannabis and cryptocurrency, while Bitcoin is the most popular virtual currency, there are a few more alternatives that are ideally used for cannabis industry. Take a look at the top five cannabis cryptocurrency that you must learn about.
PotCoin was one of the early cryptocurrencies that was introduced into the crypto world. Launched in January 2014, PotCoin was designed to resolve all the banking issues for those who wanted to transact in legal cannabis. PotCoin is limited in its supply, there are 420 million coins and more than 222 million circulations. It is a proof of stake mechanism that allows investors to validate their transaction and remain in a safe position.
CannabisCoin was also developed in 2014 a few months after the launch of PotCoin. CannabisCoin is a peer-to-peer and proof-of-work open source currency just like PotCoin. This currency was aimed at making the transactions easier for the medical marijuana industry. Similar to a lot of cryptocurrencies it soon witnessed a downfall. A few people made money and a lot of people lost money.
Founded by Adam Howell, DopeCoin was introduced in February, 2014 and was popularly known as Dopey. It is not a popular as the other two currencies, but Dopey’s sole aim was to provide marijuana enthusiasts with a safer and modern way of investing in the industry. The supply of DopeCoins is limited to 200 million with 117 million worldwide circulation.
Also introduced in the year 2014, HempCoin was designed for farming industry and recreational dispensaries. It facilitated the transaction between the marijuana farmers and the local dispensaries who distributed the final product. HempCoin is widely used in agriculture sector that is not limited to cultivation of marijuana. The market capital of HempCoins is around $896,666 million.
Running on a decentralized blockchain platform with peer-to-peer technology, CannaCoin was also developed in 2014. CannaCoin is described as the group of cannabis enthusiasts working towards the advancements of cryptocurrency for cannabis production. The market circulation of CannaCoins are set at 4.7 millions.
Cannabis & Cryptocurrency: The Infinite Possibilities for Exponential Growth
People are inclined towards investing in finances that have high probability of yielding large profits. In today’s modern world of finances, cryptocurrency and cannabis are two of the most popular industries that are witnessing heavy investments. Both the industries provide endless opportunities for investors to acquire exponential gains in the market.
Cryptocurrency and cannabis were two biggest hot topics of this year’s quarter that didn’t even existed in the world a few years ago.
It’s quite surprising to know how cryptocurrency and cannabis have showcased radical developments and become two of the high yielding industries in the world. Both the industries share some uncanny similarities in terms of their market success. According to recent reports, some of the top cannabis stocks have received 300% profit in the past 12 months. The big players in the cannabis industry that have witnessed the stock growth include Canopy Growth (NYSE:CGC), Aphria (FRA:10E), and Aurora Cannabis (TSE:ACB). These big names are constantly looking to leverage the operations into cultivation of cannabis and its marketing thereafter. Pot Network Holding, Inc, is another popular brand under the CBD section of cannabis industry. It offers high yielding potential from cannabis investment. With the approval of first CBD based pharmaceuticals, Epidiolex addressing the rare forms of epilepsy, cannabis industry is all set to make a transformational tread. The medicines will include cannabidiol that is effective to treat several health issues including epilepsy. According to reports, POTN will soon deploy info kiosks in major malls in the US with an aim to target a larger audience. The POTN CEO, Kevin Hagen, came forward and said that the project is going to be turning point for the CBD products. It will not only sell the product but will also educate consumers regarding the benefits of the CBD products as well. The program will also include product sampling of edibles.
Crypto Business Opportunities Targeted Towards Exponential Growth
Cryptocurrency has showcased tremendous growth in the past few years. The major aim of the cryptocurrency industry is to make financial transactions more secure and decentralized. There are plenty of crypto coins that are used to complete the virtual transactions. Among all, Bitcoin is the universally recognized cryptocurrency that represents 40% of the entire crypto market. Over the past five years, it has witnessed over 7000% increase in profits. Ethereum is yet another popular cryptocurrency that has seen tremendous growth since 2017. The market capital of Ethereum has spiked up to $90 Billion by the end of 2018 and it’s anticipated to touch the skies in the coming years.
There are around 1500 cryptocurrency available in the market and the total price of all coins are skyrocketing each passing year. It is safer to say that, cryptocurrency will continue to expand its potential in the coming years and continue to make remarkable development in the industry. It is also anticipated that cryptocurrency will take over the financial world with a storm and take over traditional transaction methods. Cryptocurrency industry is continuously evolving and there are many innovations in the industry that yet to be felt. There’s no doubt that the cryptocurrency market has the potential to turn the tables on the financial world.
Crypto-Cannabis Market: Ripe For Opportunities
The incredible healing effects of cannabis have helped people to recover from chronic pain, insomnia and other severe issues like PTSD. The legalization of cannabis has resulted in several social and health benefits. For instance, Uruguay’s legalization has led to reduced crimes, and Canada’s legalization has given rise to job opportunities. The presence of cannabis in the financial industry is also empowering. The crypto industry is providing a decentralized system that utilizes hash functions and checksums to ensure the authenticity and security of the transaction. It uses private keys to maintain the confidentiality of transaction.
Block chain technology has provided many cash-centered cannabis businesses with a virtual transaction method so that they can conduct their financial services with security and privacy. The combined issue of federally banned substance and need for a proper financial infrastructure to extend confidentiality has given rise to cannabis cryptocurrencies. PotCoin is the most preferred and widely popular cannabis cryptocurrency that shot to its current fame with its transacting method that doesn’t involve any bank or financial institution.
When it comes to the cannabis and cryptocurrency industry, the advancements that have taken place so far are just scratching the surface. There are plenty of future developments that are yet to shake the world. When you look at cannabis and cryptocurrency from above, both the industries are quite different. While one deals with the selling of a plant along with tools required cultivating it, the other industry concentrated on offering a virtual currency to safely transact in the modern world of finance.
Despite all the differences, cannabis and cryptocurrency industries are now rooted together. The possibilities for enhancing cannabis transactions are never ending with the help of cannabis crypto coins. With the growth of technology and lack of regulation in the industry blended with exponential growth of cannabis market makes it safer to say that cannabis coins are a great addition to the modern financial world. With every passing day, we can witness some radical changes in the cannabis crypto industry and only time will tell how cannabis will embrace the potentials of cryptocurrency in leveraging its transaction methods.