Wednesday, September 18, 2019

Report: Does Legalizing Marijuana Promotes Digital Tokens?

Cannabis and cryptocurrencies are two of the most sensitive and debatable issue for countries — especially regarding regulations.
However, these two may now be sharing the limelight as experts believe that cannabis legalization will soon seek cryptocurrencies and digital tokens for consumers’ ‘safe and confidential’ purchases.

Canada Legalizes Cannabis

On Oct 17, Canada announced its decision to formally legalize the usage of cannabis or Marijuana for recreational and medicinal purposes. This announcement was shared by the country’s Prime Minister Justin Trudeau on his twitter account.
Trudeau explained that legalizing the substance of cannabis was aimed to take away the profits from illegal merchants of the drug, to push for a ‘safe’ environment for the children, and to protect the youth for its negative impression.

High Business

After a few months, it was reported recently that Canada earned about $43 million from the total amount of purchase in selling Marijuana.
Although the legalization seems to be strongly taken control by Canada, the office of the Canadian Privacy Commissioner, however, held its firm warning for Canadian consumers and users of cannabis, to give importance to their personal information entailed when buying these drugs.
The paper was published by the authority as a ‘guidance document’ which was entitled “Protecting personal information: Cannabis transactions.” 
The document highlighted the fact that cannabis is illegal outside of Canada which means that some countries may restrict Canadians into entering the country due to his record of purchasing the drug — even legally.
So, how can you protect your personal information when buying some cannabis off a store?

Does Cannabis Equal Digital Tokens?

Specialists and crypto enthusiasts believe that this ‘high time’ for cannabis may also be the ‘high time’ for digital tokens. They say that digital tokens will be the only solution for these ‘confidentiality’ in buying drugs like marijuana.
Mati Greenspan– a market analyst for Etoro– thought that digital token would be perfectly fit for the objective of Canada to promote cannabis without exploiting the consumers’ personal information.
“This will almost certainly increase the usage of privacy coins…in Canada,” Greenspan tweeted.
Aside from him, a Vancouver-based company DMG Blockchain Solutions Inc recently announced their plan to create business through the help of blockchain and some cannabis.
“The perfect use of blockchain technologies is actually supply chain management, especially for controlled substances like marijuana”
Now, we can say that it is indeed a helpful way for cryptos to be revolving around cannabis.

More Articles

Uzbekistan Opens to Cryptocurrency Startups

The government of Uzbekistan in collaboration with the Korean Blockchain Business Association (KOBEA) has issued a memorandum of Understand (MoU) to develop the country’s...

“Executive” Thinks Bitcoin Could Surpass $40,000 after ETF Approval

There is no doubt that the cryptocurrency sector has been experiencing a downside lately; fortunately, there might be a turnaround as we still have...

Bitcoin ATM In Dubai Lets You Buy Bitcoin With...

Residents of UAE interested in buying Bitcoin without KYC can now do so with the first ever Bitcoin ATM recently launched in...

Mark Karpeles, Mt. Gox’s Founder Appeals Against Conviction

Mark Karpeles, has become one of the popular names in the crypto sphere and if you don't know who the Frenchman is,...

You Can Now Pay Bitcoin To Send Messages Using...

How cool is it to send messages to outer space without the NASA or the government's restrictions? Pretty cool, right? Send Messages Into Space That is...

Justin Sun, Tron’s CEO Reveals Official Partnership With Liverpool...

Now, hold up! There has been a misunderstanding somewhere. First, Justin Sun, Tron's CEO unleashes a piece of mind-blowing news that Tron...

Technical Analysis: Bitcoin Update

Bitcoin is coming into major support from November. It's highly likely we'll begin to see buyers coming in shortly giving a big reaction off...

Widow of QuadrigaCX’s CEO Accused of Hiding the Exchange’s...

Quadriga, a Canadian cryptocurrency exchange is in the news again. This time, it has to do with Jennifer Robertson, widow of the exchange's CEO, Gerald...

Ledger CEO Bags French Award for Startup with Greatest...

Eric Larchevêque, who is the CEO and co-founder of cryptocurrency hardware wallet developer Ledger, has bagged the French award for startup head whose invention...

Bitcoin Price Analysis As Activities Spike This Weekend

It's the weekend again, and cryptocurrency enthusiasts are expectant if something significant will happen this time around. Will there be a pump or dump...

The Days Of Monetizing Your Web Experience Draws Near,...

It is indeed great news for BitTorrent, the peer-to-peer network recently acquired by Tron, as Founder and CEO of Tron Justin Sun have pledged...

15,000 Egg Donors’ Profiles Stored on Blockchain For Data...

The profile of about 15,000 egg donors is now being stored on the blockchain in order to provide speed when couples are...

Latest Articles

Sygnum Becomes World’s First Licenced and Regulated Digital Asset...

Swiss-based Sygnum, a digital asset investment and solutions provider, has become one of the world's first licensed and regulated digital asset banks after receiving...

The Easiest Way to Pass Your Microsoft MCSA MD-100:...

If you try to think of things that don't use Information Technology in one way or another, it would be a very tough task....

Are Worries Over AI’s Effect on the Financial Jobs...

A recent study by Fountech has revealed that two-thirds of adults living in the UK are concerned that the Artificial Intelligence industry will leave...

Will Cryptocurrency Gambling Kill Land-Based Casinos?

It’s hard to deny that the internet has radically changed the gambling landscape. Sure, the common perception of gambling may still involve the glitz...

Why Some Financial Bubbles Are Necessary Economic Disasters

The history of the worldwide economy is punctuated by financial bubbles. They happen more often than we think.  Fortunly’s infographic below provides a comprehensive...

Microsoft 70-411 Exam: Everything You Need to Know

We can’t deny the fact that the world is moving towards the future faster than ever before. Not a day goes by that we...

Why US-based people can’t bet with bitcoins at online...

Online gambling using bitcoin has been happening since the time when cryptocurrency came into being. In the initial days, gamblers used to opt for...

Couple Pays For Breakfast Using Bitcoin, Community Finds This...

A Reddit user by the username u/portageco recently made a post in bitcoin's official subreddit. In his post, u/portageco boasts about how he paid...

Australian Woman Leads Adoption, Tours 10 Countries Spending Cryptocurrencies

Who says you can't go around the world spending cryptocurrencies? As many believe, cryptocurrencies are only good for speculations. But with a little research,...

Did A Physical Bitcoin Just Sell For $99k On...

As at the time of reporting, the listing on eBay had closed. This could be because the seller got a buyer or he decided...

Litecoin Now Approved In 30,000+ Stores

As cryptocurrencies gain ground, more and more technology-based firms find ways to incorporate the nascent technology into everyday life. Moon, prior to this time,...