When it comes to pairings, some successful couplings instantly stand out – Strawberries and Cream, Gin and Tonic, Netflix and Chill, to name but a few. But can weed and crypto be added to that list?
There are many parallels between the crypto and cannabis industry. Both have exploded in popularity and worth over the last decade. Both have had and continue to have, issues with regulation and transparency, and lastly, both have enormous appeal to millennials.
Initially slow-paced adoption and price speculations prevented pot merchants from considering Bitcoin and other cryptocurrencies to be a viable alternative. However, over the last eighteen months, the crypto world has stabilized following the crash of December 2017 with rumblings of the Bull market returning fully as Bitcoin hits new highs. Meanwhile, pot has been legalized in more and more places in the US and beyond, and growing into a multi-billion dollar industry.
The latest news cementing the two industries comes from HempCoin, One of the pioneers in the cryptocurrency world, HempCoin was one of the very first cryptos developed for industries such as cannabis and agriculture farming .In 2017 Q4, HempCoin expanded its utility across other industries such as tobacco and global medicinal agriculture. Now, planned for mid-June the HempCoin is migrating to a Komodo (KMD) Asset Chain.
Serving as a platform for global transactions between farmers and distributors, HempCoin was developed specifically in order to provide liquidity to the agricultural sector.The growth in popularity has seen the digital coin’s usage increase and the Komodo platform was seen as the natural progression.
Users will probably have to transfer their keys or passphrases and a 1THC on Pivx chain = 1THC on KMD chain has been set.
According to the HempCoin website:
Benefits of migration include upsteam update capabilities, (when KMD or ZEC update their chain with a feature THC needs), privacy secured by zk-Snarks is optional, & notary nodes as an option to add an extra layer of security and consensus. KMD’s tech supports HempCoin(THC)’s interest in providing the agriculture, farming & tobacco industries with the tracking capability required to audit & track a whole crop from seed to sale.
The latest move by HempCoin is testimony to the growth in the Weed and Crypto industries fusion and the possibilities it opens up. If you want to join HempCoin, you can here.