Jackie Bryant did a fascinating story for WeedWeek about all the reasons why crypto is a good fit for the cannabiz, and all the reasons it might not be:
Cryptocurrencies can provide cannabis companies with blockchain transparency and security, the ability to transact online and internationally, an inflation hedge in a volatile foreign exchange market, and a formal banking alternative that isn’t subject to regulatory scrutiny. Culturally, using crypto currencies could also be a fit for many in the cannabis industry, especially those who have operated in the legacy market and are used to working outside laws and regulations.
Despite its potential benefits, using cryptocurrencies comes with a number of question marks. The volatility of crypto prices creates risk for sellers and can trigger tax issues. There are also a number of unknown factors in dealing with cryptocurrency which the cannabis industry could further amplify.
Read it before you make the leap.
This story was made possible by Dama Financial.
