It’s no secret that the CBD industry is growing exponentially. With the market expected to expand up to 700 percent by 2020, there is no better time than now to become a fan of the cannabis compound. Countless companies are helping out the sector in their own way which includes the research, development, and distribution of CBD products. There are also those looking to expand the sector by integrating it with another rising trend; cryptocurrencies.
Both cryptocurrencies and CBD have seen unprecedented growth in the past year. The investment opportunity in both sectors are huge and that’s why people are willing to get behind both of them. It goes without saying that industry leaders from both sectors are seeing the potential in each other as well.
By delving into the field of blockchain and cryptocurrency, CBD companies are able to further their endeavors through the use of digital currencies and blockchain technology. Additionally, these CBD companies are also able to reach out to a whole new market that could have individuals who are yet to know the benefits of CBD. Here are a few CBD industry leaders who are expanding their ventures into the world of blockchain.
Earlier this year, hemp researcher and distributor Heartland Hemp, Inc. said in an announcement that they are beginning to accept over 50 types of crypto coins as forms of payments in transactions. In doing so, their customers are entitled to lower transaction fees for paying through the blockchain.
The company also launched CryptoList which is an online directory for the crypto community to use when checking out the authenticity and credibility of online sources. Through this, Heartland Hemp is not only giving the crypto community safer transactions online, it is also encouraging the benefits of using cryptocurrencies to alleviate the possible downsides to using credit cards online which include higher transaction fees, and privacy concerns.
PotNetwork Holding, Inc. (OTCMKTS:POTN) is arguably one of the top providers of pure CBD extracts. Through its subsidiary, Diamond CBD, the company is able to help people gain access to an extensive selection of CBD-infused products including oils, edibles, tinctures, crystal dabs, and more. Although the company is hard-pressed on creating pure CBD products, it’s still willing to ride the hype in cryptos to help it grow even further.
In a recent press release, PotNetwork announced that it is going to venture into crypto technology through its new wholly-owned subsidiary, Blockchain Crypto Technology Corp. Through this new subsidiary, PotNetwork hopes to diversify its portfolio and give more returns on capital.
Although the CBD leader is yet to delve deeper into the future projects related to Blockchain Crypto Technology, people are already eager to see what the new subsidiary has to offer.
Previously, buyers of hemp or CBD products through dispensaries are unable to buy items using their credit or debit cards. POSaBit is a financial technology company that introduced an easy way for consumers to buy digital currencies with their cards, which they can then use to buy CBD products.
POSaBit installs counters at various dispensaries across Washington. Once customers swipe their cards, they’ll be charged $2 for a transaction fee and they’ll get the exact amount of the crypto they bought. The new system gives consumers a new way to buy products at dispensaries which is more convenient especially if they don’t have any cash on hand.
Thanks to these companies, the CBD market is gaining more traction and potential. Through their cryptocurrency ventures, they are able to generate a steady stream of income that they can use to meet the growing demand for CBD worldwide.