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Luke Parker, 11 Nov 2020

....Many more solutions are out there. There is even now a Crypto Cannabis conference series that meets every few weeks in cities around the country for the purpose of bringing marijuana vendors and bitcoin vendors together. The series proclaims that it offers, “The best minds in the cannabis industry, Discussing the pros and cons of Bitcoin in the cannabis industry, With the best minds in the Bitcoin world.”

Even some bitcoin-cannabis specific tech startups are starting to make an appearance. San Francisco-based Trees is trying to tackle deliveries with Bitcoin and drones. “Bitcoin is a perfect marriage for the cannabis industry,” Trees’ CEO Marshall Hayner said. “There is no larger industry right now that needs bitcoin more. Currently a US$2.5b regulated market with no known banking partners or payment systems is projected to be worth US$30b by 2019.”

Other startups are focusing on cannabis industry education and assistance. Third-party vendor 1620 Solutions offers a “Processing solution for industries which experience financial censorship such as Cannabis.” The startup teaches vendors all about running their business with Bitcoin and using a bitcoin visa card like Wirex’s bitcoin banking solution to spend them as dollars. Wirex, formerly E-Coin, is based in London.

For a small fee, the service also gives vendors an integrated bitcoin payment solution for their websites, and a dedicated account manager and community forum to discuss using bitcoin solutions with other users.

“Payments made using Bitcoin for your goods or services are automatically ‘exchanged’ into receivership denominated in US dollars, and then transferred from your Bitcoin wallet (mobile or web based options) to our customized physical plastic (not hemp plastic yet!).” - 1620Solutions