Potcoin News: Cryptocurrency managed to dominate tech news in 2017, thus overshadowing other technology areas that were thriving. The marijuana industry had been the talk of the town in the previous year but it continued to thrive in 2017.
The marijuana industry also enjoyed impressive gains just like the cryptocurrency industry which reported astronomical growth. Things get more interesting when the two industries cross paths and one of the ways they have done that is through a cryptocurrency called Potcoin. Many investors have their eyes set on this particular coin so that they can take advantage of the growth offered by the two industries.
Potcoin is a cryptocurrency that is particularly aimed at facilitating transactions and payments within the marijuana industry. The coin was first introduced in 2014 as the product of a Litecoin Fork and it thus runs on the same blockchain network as Litecoin.
The marijuana-oriented cryptocurrency has a special use which is to provide a financial alternative to the marijuana businesses. This is because pot is still considered illegal by the federal government despite being legalized in various states and as a result, financial services are inaccessible to the marijuana businesses. Potcoin was introduced as payment processing service to bridge that gap, thus contributing significantly to the growth of the industry.
One of the major potcoin news flashes is that U.S President Donald Trump?s administration is against marijuana legalization and this means that the pot industry should not expect things to change in terms of federal legalization at least for the next few years. Fortunately, Potcoin provides an ideal solution for the marijuana businesses.
Meanwhile, things are looking better for Canada as the country is rapidly approaching the legalization of marijuana. IBM wants to be strategically positioned to take advantage of the rapidly growing industry and it plans to do this through the use of blockchain to distribute marijuana.
Potcoin has been on an overall bearish trend for the past few days perhaps due to investor concerns over the outcome of the G20 Summit which was to be held on Monday and Tuesday. The price dropped from $0.13069 on March 11 to a low of $0.0964 on March 18. However, the price of the cryptocurrency seems to have bounced back with the price going as high as 0.118 on March 20th. The rallying prices might have a lot to do with the fact that the discussions held at the summit had a relatively positive outlook towards the cryptocurrency market.
Things are looking quite positive for Potcoin especially if regulators manage to come up with the right mix that will not aggravate the cryptocurrency industry as the case has recently been, thus leading to the bearish prices. Fair regulations might help to maintain a strong bearish performance in the price of the cryptocurrency. Additionally, the growth of the marijuana industry should also be a contributing factor that is expected to keep on strengthening the cryptocurrency. The marijuana industry can lead to a wider adoption of Potcoin especially as the pot market continues to thrive and spread.
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