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. This week, Alt Thirty-Six announced a partnership with the cannabis software company WebJoint, which they say will allow for more widespread cryptocurrency adoption in cannabis retail locations.
“Our goal at Alt Thirty-Six—to bring secure digital payment solutions to the cannabis industry—perfectly aligns with WebJoint’s innovative, cannabis-specific software technology. We’re thrilled to have the opportunity to partner with [WebJoint], providing more cannabis businesses with access to our platform and changing the way the industry as a whole handles payments,” Alt Thirty-Six CEO Ken Ramirez said in a statement.
WebJoint Founder and CEO Christopher Dell‘Olio said he believes that this could be the solution to the industry’s banking woes.
“We are excited to work with Alt Thirty-Six to solve a major issue that the cannabis industry has been facing for quite some time,” Dell‘Olio said.
“I believe this partnership will take cannabis tech to the next level and help all companies across the supply chain accept cashless payments. I have full confidence in Alt Thirty-Six as well as our WebJoint team to execute and offer a reliable merchant solution to our 200+ cannabis POS clients.”
WebJoint already provides services for more than 200 cannabis retailers in California, and it will soon be expanding into Arizona and Nevada. All of the locations that are serviced by WebJoint will accept cryptocurrency payments through Alt Thirty-Six.
My name is John Vibes and I am an author and researcher who organizes a number of large events including the Free Your Mind Conference. I write for numerous alternative media websites, including The Free Thought Project @tftproject and The Mind Unleashed. In addition to my first book, Alchemy of the Timeless Renaissance, I have also co-authored three books with Derrick Broze @dbroze : The Conscious Resistance: Reflections on Anarchy and Spirituality, Finding Freedom in an Age of Confusion and Manifesto of the Free Humans
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