BITCOIN / BLOCKCHAIN/ CRYPTO CURRENCIES

[JohnCM]

John,

I live in Washington State, one of two states to first legalize recreational Marijuana. The first HUGE issue was that no Federally regulated banks will allow growers or distributors to have bank accounts with those businesses (or the government can close the entire bank for drug laundering). It took about a year but finally some state only banks are dipping their toes in businesses but it is/was still a majority cash driven business.

Along comes crypto currencies.... And an app in between to help out. I don't the all players yet but I have talked with several major distributors and they have come up with a way that allows customers to come in with their everyday credit card and make purchases. The apps do a conversion from credit card to bitcoin immediately at the teller. I don't know how the system works to convert it back to US dollars and deposit it somewhere but it does.

Quite clever and already broadly in place in Washington State.

We want the dispensary able to avoid hauling bags of CASH to the bank to deposit. Keeping an eye on POTCOIN and BITCH's check cashing ATM. I know Credit Unions were looking at this too.