The cannabis industry is excited about cryptocurrency’s potential, but it’s not the right solution for the industry yet.
The cannabis industry doesn’t have widespread access to banks, and conducting business with only cash has its risks.
Many dispensary owners are excited about using cryptocurrencies like Bitcoin to solve this problem, but it’s not a miracle solution for a number of reasons.
That hasn’t stopped cryptocurrencies from trying to elbow their way into the industry.
The rapidly-growing cannabis industry has a cash problem, but dispensary owners around the country say cryptocurrency isn’t a miracle solution.
Most banks won’t take cannabis cash, so dispensaries in states where the sale of cannabis is legal have been forced to explore alternative payment solutions as they are locked out of even the most basic tools of doing business, like opening a checking account and accepting credit cards as payment.
Tech: The booming cannabis industry has a serious cash problem — and cryptocurrency isn’t the solution
