Cryptocurrencies have been a huge craze this past year. If you missed Bitcoin when it originally soared on the market, then there have been a handful of penny cryptocurrencies you could purchase this past year. Ethereum alone skyrocketed over 3,467% within a year. We have seen a variety of people, banks and billionaires grasp onto these new Cryptocurrencies receiving immediate returns on their investments. Now the Marijuana industry is getting on this block chain technology.
Since Mary Jane is still illegal Federally, it poses a few challenges. Green consumers who are legally purchasing in their state may not want a record of their transactions.
Pot Coin was one of the first cryptocurrencies to pop up in the Marijuana industry. It made its debut back in 2014 as a solution for banking problems for consumers looking to transact in the legal marijuana market. A dispensary in Colorado was the first to be home to a PotCoin Atm. PotCoin wasn’t the hit they were hoping for. It ended up being a major flop.
2017 has been a huge year for PotCoin. They have made a name for themselves in this market and have been on many people’s radar. June 12th Dennis Rodman had a trip to North Korea funded by PotCoin for him. When Dennis arrived repping a PotCoin.com shirt, it created quite the buzz PotCoin needed to re-enter the spotlight. In just one-day PotCoin shot up 76% according to Coinmarketcap.com. Currently, it’s worth $38.2 million in just a short few months.
PotCoin states its transactions have a speed of 40 seconds. It also has a limited supply of 420 million coins and only 217 in circulation currently. Investors can receive an annual 5% return on their PotCoin.
When researching a Cryptocurrency for Marijuana, there are a few other options currently to check out. CannabisCoin and DopeCoin. There’s also are a few still in the works this year in the making.It will be interesting to see how this superior currency leaves its mark on the marijuana industry.
Author: Kayla Michelle