It is evident the marijuana industry can benefit from cryptocurrency and blockchain technology in the future. Although some altcoins have been created to make that happen, most efforts are still small-scale. Dash is trying to make a big impact here, as digital payments platform Alt Thirty Six has turned to Dash as a “payment method of choice” for cannabis customers, merchants, and vendors. This is an exciting venture for the industry and the cryptocurrency community alike.
Dash and Marijuana are an Intriguing Experiment
There are many reasons why governments oppose both cryptocurrencies and the marijuana industry. Both of these concepts can be extremely powerful when used properly, even though they mainly make headlines due to associations with illicit activities. Regardless of what governments may think, digital payments platform Alt Thirty Six is focused on the marijuana industry as we speak. The company also shows some love for cryptocurrency these days, as it has tapped Dash to power cannabis-related payments moving forward.
This new partnership caught a lot of people by surprise, which is only normal at this stage. Up to this point, Dash has not been associated with the cannabis industry in any significant manner, although it makes a lot of sense to explore this option. After all, Dash offers cheaper and faster payments compared to more traditional payment solutions. Additionally, the currency introduces a degree of privacy benefiting both consumers and merchants.
Considering that the cannabis industry is heavily regulated in the US right now, this news is rather positive for Dash and cryptocurrency in general. Alt Thirty Six has been exploring new payment solutions for quite some time now, as it wants to reduce reliance on cash-based transactions for all parties involved. Dash makes a lot of sense in this regard, especially thanks to its InstantSend feature.
Interestingly enough, it seemed to be only a matter of time until this partnership came to fruition. The Dash forum already hosted a thread concerning a potential partnership with Alt Thirty Six. More specifically, there was talk about CannTrade, which is a well-known entity in the cannabis B2B marketplace and distribution chain. This company was looking for third-party service tools to grow sales, and they signed a three-year exclusive deal with Dash Core to list this new method of payment on its platform.
It is important for any cryptocurrency to make headway in the retail sector. Altcoins often struggle in this regard, and even Bitcoin isn’t making too much progress these days either. For its part, Dash is certainly taking some big steps forward. Although the currency is now associated with an industry most consumers still dislike – for reasons unknown – it is a major development in the world of cryptocurrency regardless.
In the end, it will be interesting to see if this new partnership brings more positive momentum to the cryptocurrency ecosystem. Most people agree Bitcoin would be a terrible payment option for the marijuana industry, at least until micropayments become possible. Whether or not Dash is the solution retailers and consumers have been waiting for remains to be determined, though.