Potcoin Review – The coin to help facilitate legal cannabis transactions

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potcoinPotcoin is helping legal cannabis sales to have a simplified method of transaction. With many places in the world having legal cannabis sales, including some states in the USA legalizing cannabis, PotCoin has a nice growing merchant-base for accepting Potcoins for payment.

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Potcoin Review

Market Cap: $812,348
Maximum coins issued: 420M POT
Hash algorithm: Scrypt
PoW or PoS: PoW
Is it able to be mined: Yes
Exchanges: Cryptsy, SwissCEX, HashFlo, BitTrex, MintPal
Block explorer: PotChain
Launch date: January 21st, 2014

What is the coin’s purpose?

The newly legalized Marijuana industry has called out for its own distinct crypto-currency; PotCoin was designed to empower, secure and facilitate the Cannabis community; medicinal and recreational alike. At every level of the Cannabis industry, users can trust PotCoin to lend credibility and stability thanks to the power of very large numbers. (BitcoinTalk)

What problem does it solve?

Potcoin seeks to make for easy transactions in the ever growing legalized Cannabis industry. They are working towards having Potcoin become the standard for transactions involving cannabis and seeks to empower the cannabis community as a whole. As cannabis has just started to become legal again in the USA, where once it was illegal not to grow cannabis, there’s a stigmata surrounding growing and using it now. That makes for tricky situations with conventional payment processing companies and banks, not to mention the fees which Potcoin also seeks to help by removing them from the equation.

Who are the developers?

Joel Yaffe РFounder and CEO РHe has held office in at least two other successful companies, GuestDriven.com and ICanGoWithout.com, where he was directly responsible for their success.

Russ Thomas – CIO – He has 21 years of experience in Information Security, Financial Services, and Start-Ups.

Nick Iversen – Co-Founder – He has over 13 years of experience in the latest technology in design, marketing, advertising, branding, user experience, graphic design, user interface design and cross-platform application creation.

Alec Rochford – Director of Sales in the USA – He has professional experience in sales, business development, and enhancing relationships with clients.

What are the coin’s future endeavors?

Potcoin seeks to become the standard of payment and create consumer loyalty in the cannabis community. Potcoin also seeks to extend credibility, stability, and security to the ever growing cannabis community.

Potcoin has a toll free number, 1-844-POT-COIN, as well as a Merchant Program to allow new companies to start accepting Potcoin. Currently, 37 companies are listed in their Merchant Directory. Potcoin also has some useful and helpful marketing endeavors. They offer “Pay it Forward” through potfunder.com which allows for crowd-funding through Potcoin. Their featured project is currently “Support Cannabis for Fragile X Syndrome”. Fragile X Syndrome is a genetic syndrome that is the most widespread single-gene cause of autism¬†and inherited cause of intellectual disability especially among boys.

Another couple great opportunities you might be interested in are their developer program and ambassador program. Ambassadors help to spread the word about Potcoin by talking to local merchants about accepting it.

Do you use Potcoin? Let us know by posting a comment below or discuss it in the CCN forums!

Disclaimer: I don’t own any Potcoin.

Featured image by Shutterstock.

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Rick Mac Gillis entered the world of Cryptocurrencies in late 2013. He is a controversial journalist committed to investigating and exposing the "dirty bits" of the community. With over a decade of experience in LAMP web development with a focus in custom cryptographic security methods and ethical hacking, Rick Mac Gillis understands the need for proper security standards in cryptocurrency.