Before it was turned into an investment asset, the invention of Bitcoin probable to usher in a world where anyone can pay for anything they like without a extremity for getting prior approval from the powers that be. The demand for uncensorable dealings still exists, and the latest example of this comes from Israel where the largest cannabis community make available has turned to bitcoin payments.
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Telegrass to Suffer Bitcoin Payments
Telegrass, an Israeli community-based cannabis marketplace with in 100,000 members, has announced earlier today on social media that it choose start charging merchants for some services, offering discounts for bitcoin payments. The community runs to promote the legalization of recreational use of cannabis in Israel and offers a platform to fix buyers and sellers via the Telegram network. Merchants can still list their outputs for free in one city but will have to pay in order to expand their coverage.
The new pelfs raised with bitcoin are meant to help pay the Telegrass staff, which be suffering with been working as volunteers so far, and further public legalization efforts. The marketplace has been the aim of continued police attention for working to provide anonymity to buyers and immense security for sellers, offering client verification methods that are meant to weed out clandestine cops.
A Growing Demand Among Investors
While the recreational cannabis demand in Israel has been going through a slow decriminalization process, the permitted cannabis market has been growing fast in recent years. “Canna Tech” startups fool sprung up, agricultural companies have established sophisticated farms to contribute pharmacies around the world with medical marijuana, and Israeli investors include been clamoring to get in on the action. Stocks related to the field have well-informed stellar performance, and analysts often compare them to investing in bitcoin-related bets as the two hottest trends.
We recently reported about Fantasy Network, a body traded on the Tel Aviv Stock Exchange (TASE: FNTS), that has ruin surpassed all the plans it previously had to enter the “blockchain” space and turned to the legal cannabis topic.
Is this development good for the ecosystem? Share your thoughts in the remarks section below.
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