Singlepoint Inc (SING)

[ofthegreenes]

SING tweet update.
https://twitter.com/_Singlepoint_/status/942776868729753600

In 2014, SinglePoint, a mobile app payment company, placed terminals in medical marijuana dispensaries, in which people could use debit cards to make their purchases.

"They were going great," Ralston said. "Then overnight the banks shut them all down. There were no guidelines about how banks were supposed to interact with the cannabis industry. They didn't want to risk it."

Ralston said the attitude around cannabis at most banks remains: "We don't want to even bring up that word in our bank."

And so, he said, "we had to stop, and say, what other solutions are we going to provide?"

Ralston and others at SinglePoint started looking into cryptocurrencies. Now, SingleSeed will allow dispensaries to accept bitcoin and consumers to pay with it.

SinglePoint won't stop with pot. He said 14 percent of the population is locked out of the banking system because they don't have credit or are involved in high-risk businesses.