Medical Marijuana App Solves Industry’s Cash-Only Payments Problem

Medical Marijuana App Solves Industry’s Cash-Only Payments Problem

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It is no secret that the medical marijuana industry in the United States faces an uphill struggle, indeed our readers will remember that we covered the issue in detail recently and discussed how dependence on cash is putting both medical marijuana businesses as well as consumers at a great deal of risk. It is interesting to note that there have been developments in this field and there is now a payments solution at hand for regulated medical marijuana businesses as well as customers. CanPay has recently announced a solution for the legal marijuana industry that has become available to users as well as businesses in the states of Washington, Oregon and Colorado. If this solution does indeed get adopted en-masse, it promises to solve the industry’s cash-only problem. Why no banking love for marijuana The problem in the United States arises from the dichotomy in laws. While in many states the use of medical marijuana is now allowed, federal law still acts as a spanner in the wheel. The banking industry is thus wary of being on the wrong side of federal law and the industry is largely unorganized. Consumers who want to access medical marijuana in states where it …

Uber Driver Offers a Free Ride to BitNation Advocate

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There have been numerous news articles published on the concept of decentralized governance, with BitNation taking the lead and confronting existing government institutions by offering a decentralized way of handling such services. Some of these services include birth and marriage certificates, land ownership, and business certifications. Services that at times can cost a substantial amount of money and require a lengthy process that can be subject to heavy bureaucracy. With this in mind, you can imagine the impact services such as BitNation can have on individuals who want ways to overcome boundaries and free themselves from the limitations created by centralized authorities.   While this idea is not yet fully realized or demonstrated to the masses, it found its way into a conversation between a Uber driver and a passenger within London. Perhaps this is a way of demonstrating that people are listening and searching for better ways of handling day to day services, in support of decentralization and reduced regulations. Eric Grill, founder and CEO of the Bitcoin ATM company CoinOutlet Inc, was recently taking part in a Uber ride within the city of London. It is here that a great conversation started, revolving around regulations and the time it takes a …

Bitcoin Companies Are Compounding the Bitcoin Hoarding Problem

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Bitcoin hoarding has been dubbed as one of the “major problems” hampering the adoption growth of this disruptive digital currency. While there are over 14 million bitcoins in circulation at the time of publication, only a fraction of that amount is changing hands on a regular basis. As a result, there are a lot of coins not moving to different owners, leading to various addresses “hoarding” bitcoins. Also read: New Economy Movement Focuses on Equal Opportunities Consumers not Incentivized to Spend Bitcoin One of the more common reasons for the Bitcoin hoarding problems can be blamed on lack of incentives for consumers to spend Bitcoin. While merchants are reaping the benefits from paying lower transactions fees on Bitcoin transactions, the everyday consumer is still paying the same amount for goods and services, rather than receiving a discount. On top of that, the number of merchants accepting Bitcoin payments is still fairly low, despite that number increasing over time. Despite there being lower transactions fees for merchants, as well as the option to has Bitcoin transactions converted to fiat currency and receiving the money in their bank account the next business day, most people are still wary of Bitcoin. At this time, …

Market Research Giant Qualtrics Adds Bitcoin Reward Option

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Online survey giant Qualtrics has added bitcoin as a rewards option for consumers who respond to surveys and research requests issued by its enterprise clients. The Utah company, which is valued north of $1bnfollowing a $150m Series B in 2014, boasts more than 700 employees and investors including Sequoia Capital and Accel Partners. The offering was made possible by bitcoin payments processor SnapCard‘s recent integration with digital rewards platform Tango Card. Consumers who want to access the platform to obtain rewards points must first sign up to the service to begin taking surveys. Once Qualtrics users earn 50 points for their participation, they receive a Tango Card gift code, which can then be redeemed for Amazon and Target gift cards as well as bitcoin. Qualtrics head of strategy and research Mike Maughan indicated that by offering bitcoin as a rewards option, he believes the company’s clients will be more easily able to reach the increasingly important millennial demographic. Maughan told Coingreed: “Millennials are most familiar with and most likely to be part of the bitcoin movement. A lot of millennials are more on the cutting edge of bitcoin, and those are among the people that are most sought after for …

What Can You Buy with Bitcoin?

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This year has been something of a watershed, with a number of merchants – some of them retail giants with billions of dollars in revenue – deciding to accept bitcoin in exchange for goods and services. Many of them are online e-commerce sites, but an increasing number of bricks-and-mortar stores are also now accepting cryptocurrency. While in the past trying to find a bitcoin-accepting merchant for the item you want was often tricky or even impossible, there are now growing options for people who don’t wish to pick their way through hundreds of listings just to find products vaguely approximating those they want. The best way to find bitcoin-accepting merchants is via marketplaces and aggregatorsites that gather large numbers of supporting establishments together at once. CoinMap.org also offers a visual way to locate bitcoin stores in any geographical area, and new businesses are appearing all the time. However, CoinDesk has summed up some of the more notable examples of both online and real-world stores in the guide below. Spending your bitcoin In previous guides, we’ve told you how to mine bitcoin, and how to buy it. However you acquired your digital currency, if it’s not purely an investment, you’re going to want to spend it at some point. So, what can you buy with …