Ever since the inception of digital currency, there have always been ties with “grey areas” such as soft drugs and gambling. As a result, every now and then we see a new trend in different altcoins trying to cater to the same communities. This year, it seems we have a ton of marijuana-related altcoins out there. This article will be a quick rundown of what each of these digital currencies hopes to achieve. More in-depth articles about each coin separately will be posted during the next few weeks.
Website : http://hempcoin.org/
BitcoinTalk : https://bitcointalk.org/index.php?topic=506320.0
HempCoin was created in order to make this the primary currency for the hemp community. In order to do so, HempCoin has become a full business member of the Hemp Industries Association, of which you can find more information here.
Unfortunately for HempCoin and its investors/community, there are no services accepting THC as a payment method as far as we can tell. Without services, you simply cannot be the primary currency for anything I’m afraid. The team is still making efforts to appear at Hemp-themed events, but their best work so far has been done on their QT client.
Website : http://potcoin.com
BitcoinTalk : https://bitcointalk.org/index.php?topic=426324.0
The idea behind PotCoin was to empower , secure and facilitate the Cannabis community, whether it would be recreational or medical purposes alike. The team even managed to get a PotCoin version of LocalBitcoins running, where users could easily buy and sell POT. Click here for more details about LocalPot.com.
The PotCoin developers are currently working integrating LocalPot into the QT client, and this feature is expected to be completed within the next few days. Merchant systems, both for online and offline usage, are being tested as we speak. More information on that front will be available over the next few weeks.
PotCoin also has merchants on board which accept POT as a payment method for their goods and/or services. The latest merchant to accept Potcoin payments is YourVaporizers, and you can check out their website here.
Website : http://www.dopecoin.com/
BitcoinTalk : https://bitcointalk.org/index.php?topic=467641.0
DopeCoin’s announcement thread caught many people by surprise, as it was at that time one of the very few decent announcement threads where a new coin was concerned. Not to mention, their fancy graphics also helped a lot.
As we have seen with PotCoin, the DopeCoin developers are currently working on a peer-to-peer fiat exchange (available within 5-6 weeks) and a centralized marketplace (available within 6-8 weeks). No word on which fiat currencies will be accepted for the exchange, or which goods/services can be purchased through the marketplace.
So far, there are two merchants who are accepting DOPE payments. Smoke Cartel, a shop with an online catalog of glassware used by marijuana enthusiasts, ; and PixSkull, a shop specializing in custom etched glass work.
Website : http://cannabiscoin.net/
BitcoinTalk : https://bitcointalk.org/index.php?topic=661885.0
Unlike other marijuana-related digital currencies, CannabisCoin is focusing their efforts on being the payment solution for medical marijuana dispensaries, retailers and merchants. In order to achieve that goal, CANN is backed by “Canndy” , which is a self-created strain of medical marijuana. All Canndy purchases are made exclusively with CannabisCoin.
The first “Yes We CANN’ event took place a little over a week ago, and was a great success. Not to mention, CannabisCoin has strong ties with the Herbal Wellness Center, where 1 CANN gives you a US$10 pre roll when purchasing anything else in their store.
The CannabisCoin team is always looking at ways to expand their services, not just in the state of Arizona, but in areas such as Las Vegas as well. More updates on these fronts are expected over the coming weeks.
Website : http://cannacoin.cc/
BitcoinTalk : https://bitcointalk.org/index.php?topic=740903.0
While CannaCoin is definitely marijuana-themed, their team is focusing most of their attention on making CCN a payment system. As they want to bring innovative new technology to the Cannabis industry, creating a new form of payment is a good way to make for yourself.
Most of the CannaCoin focus is also on medical marijuana, as they not only want to make it easier for patients to purchase marijuana, but also sponsor research. Even though it has been medically proven medical marijuana will help greatly for pain relief, who knows what else it could be used for? Not too much research has been done up to this point, so there are still a lot of possibilities to be explored.
One of the services being developed for CCN is CannaPay. CannaPay is a full back-end solution for payment platforms, future applications, point-of-sale, ATMs and much more. Other platforms include NWGT.tv, CannaShares, TokeTalk.net, CannaCoin Store and HotBox710.com . All of these services are united under the Cannabis Community Network banner.
Mary Jane Coin
Website : http://www.maryjanecoin.com/
BitcoinTalk : https://bitcointalk.org/index.php?topic=793704.0
Mary Jane Coin wants to become the most easy to use , secure and private option in the medicinal/legal marijuana merchant sector. The developers want to achieve all of this by using anonymity features in their QT wallet, and focusing on merchant adoption.
Speaking of merchant adoptions, MARYJ is currently accepted by three businesses. A & W Concentrates, The Peaceful Choice and 3 Guys Pies are all accepting Mary Jane Coin as a payment method for their goods and services.
As Mary Jane Coin has only been released about a month
ago, there are a lot of things currently still in development. We will cover all of these features and services in our in-depth article over the coming weeks.
Website : N/A
BitcoinTalk : https://bitcointalk.org/index.php?topic=823799.0
Most of the marijuana-related digital currencies out there are focusing on the US. GanjaCoin on the other hand is aiming to become the cryptocurrency for every marijuana business in Europe. a welcome change in that regard. The plan is to make as many coffeeshops and growshops accept GANJA as a payment method.
In order to do so, you need to be able to have people carry and spend GanjaCoin in an easy manner. A web wallet will be released soon, with Android and iOS wallets coming out over the next few weeks. No one wants to take their laptop with them to the counter of a coffee shop to make a payment, right?
GanjaCoin will have a stand at the upcoming Cannabis Cup event in Amsterdam , which takes place at the end of November. December will be an interesting month, as the GANJA payment gateway will be released by then, and we should see shops starting to accept GanjaCoin shortly after that.
Website : N/A
BitcoinTalk : https://bitcointalk.org/index.php?topic=825005.0
Even though the name may be one of the dumbest I have ever seen, you simply can’t base your judgement on just that. We are not sure about the exact goal of CND yet, but as they are in talks with coffeeshops in The Netherlands, it’s safe to assume they want to become another payment method.
On top of that, the CannabisDarkCoin developers are working on an in-wallet exchange, although no further details have been announced at this point. Communication isn’t the strong suit of the CDN team at this point, but we will keep an eye out for further updates.
Website : N/A
BitcoinTalk : https://bitcointalk.org/index.php?topic=835219.0
Even though DarkKush only launched a few days ago, their marketing message is a strong one. Not only are they bringing us a new digital currency, but rather a new “strain”of cryptocurrency with a pungent money flavored scent and taste. Poetic, to say the least.
Unfortunately, that’s about all the information we have on DarkKush at the moment. NO word on services, merchants, tools or utilities at this point in time. We will keep an eye on the DANK thread on BitcoinTalk for future updates.
Website : N/A
BitcoinTalk : https://bitcointalk.org/index.php?topic=836633.0
In our efforts to provide our loyal readers with a complete overview of marijuana-related altcoins, our attention was brought to Bhocoin. Bhocoin wants to become the diamond of all the hash- and marijuana-related coins.
BHO is a coin colalboration with the GanjaCoin team, which makes you wonder why there would be aneed to create yet another currency for this niche market. BHO will be different from all of the other coins because of its very limited coin supply of 500,000 BHO.
Because the Bhocoin team works together with the GanjaCoin team, they will be able to take advantage of GANJA’s merchant adoption. A new payment gateway system called GANJAPAY will be developed, so we will keep an eye out for more information.
So which coin has the biggest potential for success? We have our own opinions in that regard, but those shouldn’t influence your decision. Always do your own research, and don’t invest money you cannot afford to lose.