Bitcoin Currency Could Solve Banking Issues for Cannabis Industry
Though some form of cannabis is now legal in 29 states and the District of Columbia, a lack of banking options for cannabis businesses in the United States continues to force marijuana merchants to rely solely on cash transactions. This inhibition has been a major obstacle for dispensaries and other cannabis-related businesses, but the use of bitcoin technology could be the key to overcoming the roadblock. SinglePoint, Inc. (SING) (SING Profile) has announced an initiative to develop a bitcoin payment solution for the marijuana industry, providing a much-needed financial transaction option and allowing cannabis businesses to accept credit card payments…