While the federal government continues to attempt to suppress the cannabis industry by cutting it off from traditional banking, one company is turning to blockchain technology.
In states where cannabis has been legalized, dispensaries and retailers still operate in a legal gray area due to the federal prohibition of the plant. One of the biggest issues faced by the cannabis industry is the fact that it is still strictly a cash business since they are unable to collect credit card payments and are blocked off from traditional banking.
Cryptocurrency offers a great solution to these problems, and many cannabis businesses are beginning to adopt the technology out of necessity. Since blockchain technology is still developing, the point of sale options for retail locations have been slim, but a new platform called Alt Thirty-Six is hoping to change that.