ForexMinute.com – In the queue of hundreds, two new cryptocurrencies are making their way in, but quite innovatively. Named as PotCoin and DopeCoin, both coins are looking forward to be a greater assistance to marijuana dispensaries that are legal on state-level, but illegal on the federal one.
As per the ongoing laws in the US, Federal Laws still considers the use and sale of marijuana – medical or recreational – illegal, making it impossible for dispensaries to conduct transactions via credit cards, or even open simple bank accounts. The cash transactions then remains their only choice, which is far riskier and costlier.
But both the newly-renowned coins have different paths when it comes to being used in real cannabis markets. As per the statements issued by the respective creators of both the virtual currencies, PotCoin believes to work under the lens of lawmakers by only being transacted within legalized medical and recreational marijuana industries, while DopeCoin doesn’t show any concerns towards law and openly announces to be used in underground drug markets.
In a conversation with The Huffington Post, DopeCoin creator, who goes by the code name of Dopey, told the channel that they prefer to be the bad boys of cryptocurrencies. “I would never advocate illegal drug use or any illegal activity to do with this currency. This is a digital currency created by the people for the people and what people do with it has the same consequences and responsibilities that they would have for the American dollar,” said he.
It might be too soon to say, but Dopey’s carefree attitude towards DopeCoin’s possible misuse reminds us the speculations of many governments that have disregarded cryptocurrencies for their illegal use in drug and weapon market. Bitcoin have suffered most of its criticism on the same grounds; at least now it can have a partner in crime.
May be the next cryptocurrency we hear will be for arms and ammunition. Literally!
To contact the reporter of the story: Yashu Gola at firstname.lastname@example.org