“Cannabis businesses are not permitted to bank in anything that looks traditional, including the use of credit cards, which presents another big challenge.”
CT: So why aren’t more cannabis-related businesses looking into cryptocurrencies?
SS: Ah, well per the previous answer, we’re obviously on the same page. It’s ignorance, volatility, adoption and confusion, in any order. Without adequate adoption there is no ‘critical mass’ of use. With the volatility, there is concern from owners that they could take their eye off the ball and lose all profit from the day with a big dip. Since they depend on their cash flow they can’t wait for the market to return. Without stores offering it, there is nothing to drive the consumer. And so on.
American Green is a good potential customer for NuBits - How do we start?