Stoner News On The Blockchain

Mar 21, 2018  David Kieve, Cryptopunk

High on crypto

The cannabis industry loves blockchain technology because they have to: most banks won’t deal with cannabis companies (in the U.S., cannabis being illegal on the federal level may have something to do with that). Cryptocurrencies like Bitcoin allow businesses in the industry to transfer money quickly and securely. Sure beats carrying around bags of cash.

50 strains of cannabis coins

But why stop at Bitcoin? Once transferring money digitally via crypto became viable for the cannabis industry, all sorts of marijuana-specific cryptocurrencies started popping up: CannabisCoin, PotCoin, DopeCoin, HempCoin, and so on. They are so speculative that you really should plug them into a crypto simulator first. Which pot coin do you think will become “the” pot coin in the next few years?

Free speech, man

While the naysayers tried to write Bitcoin off as a drug-trafficking tool used by criminals (they love citing Silk Road where everything illegal under the sun - or far in the shade, actually - could be bought with Bitcoin), advocates of cryptocurrencies tried to explain how blockchain technology frees people from central banks, big corporations, and governments. With recent scandals about Facebook selling user data, the idea that people can both control their data and get paid directly for their content is both liberating and tantalizing. Platforms like Steemit and Dtube are trying to usher in an era of decentralized publishing: no censorship, and content creators get paid based on how well their content does. Freedom!

Let’s keep it civil

Enter Civil, a platform where people can post content and get paid for it - all thanks to blockchain technology. Since all the information is stored on millions of devices via the blockchain and there is no centralized authority to say what can and cannot be published, content creators on Civil cannot be censored. This is perfect for the cannabis industry to candidly discuss their product without fearing a raid by the Drug Enforcement Agency or the like.

Mariju-wanna hear about it?

With all that in mind, Cannabis Wire will launch a publication for the cannabis industry on the blockchain, using the Civil platform. It’s focused mainly on the industry - so don’t rush to it in hopes of learning the best way to roll a joint or to seek out pics of celebs lighting one up (then again, you never know).

So what’s the news?

Since it’s aimed at the cannabis business, expect Cannabis Wire to be a more B2B news service. At the same time, there is so much misinformation and confusion about cannabis, its uses, possible dangers, benefits, and so on that Cannabis Wire may be able to establish a trusted source of cannabis information for everyone. The beauty of networks like Civil is that its users decide each article’s merit - which in turn directly determines how much crypto money the article’s author will make from it. Does that mean a flood of “10 best bongs” articles? We’ll find out in a bit (or 420 of them).