Understanding Hempcoin and The Value It Provides To The Cannabis Market
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Understanding HempCoin (THC) And The Value It Provides To The Cannabis Market

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The name Hempcoin is probably not something that most people have come across despite the growing popularity of cryptocurrencies. This could, however, be due to the fact that it is one of the cryptocurrencies that are not so popular. This then brings the question of what it is and what are its applications.

According to the Hempcoin website, it is a cryptocurrency that focuses on the agriculture industry, specifically on marijuana or hemp farming. It is built on Blockchain which is the same technology that runs other cryptocurrencies including bitcoin. It is worth pointing out that it is built on Bitcoin’s source code. Its reason for existence is to facilitate transactions between marijuana dispensaries and marijuana farms. The existence of this coin thus highlights the acceptance of blockchain technology in the world of marijuana.

Hempcoin aims to facilitate easier and faster transactions between marijuana or hemp farmers and distributors. The legalization of medical marijuana in many states and recreational marijuana in some regions has led to a rapid growth of the marijuana industry.

Hempcoin was launched in 2014 but has not really taken off like other cryptocurrencies such as Ethereum. However, this could be attributed to the fact that the hemp and marijuana industries have not really been popular until 2015/2016 when legalization became a hotly debated subject. Also, cryptocurrency was not such a big deal back then and these factors have played a role in its slow growth. However, things are now changing and digital currencies, as well as blockchain technology, are now trending. This has led to opportunities for Hempcoin to gain more popularity.

The fact that it is a cryptocurrency that caters to a niche market makes this digital currency quite appealing, especially to cryptocurrency traders. Almost all cryptocurrencies have recently experienced significant gains and this has also been the same for Hempcoin. Its price is currently at $0.242976 though it recently hit an all-time high at $0.260549. It currently has a market cap of $55,884,513 and is currently ranked at position 172 in the list of digital currencies based on market cap.

Hempcoin is however not the only cryptocurrency that is focusing on the marijuana industry. There is another digital currency called Potcoin that is also targeting the niche market. Its website points out that the marijuana industry is heavily reliant on banking services. Potcoin aims to become the standard form of payment for legalized marijuana but it seems that it already has competition from Hempcoin. However, Potcoin is currently ranked higher than Hempcoin in terms of market cap at position 141 with a market cap of $75,461,212 and its latest price at $0.344553.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Marc Fuya via Flickr

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Enhancing the DigitalBits Ecosystem through the XDB Foundation

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The DigitalBits ecosystem welcomed a new benefactor in the form of the XDB Foundation, a non-profit organization dedicated to providing support for DigitalBits. The main objectives of the XDB Foundation include the DigitalBits Ecosystem Support Program, supplying both financial and non-financial assistance to qualified entities and projects within the DigitalBits community, with a focus towards innovation and speeding ecosystem growth.

Michael Gord, MLG Blockchain and GDA Capital founder, has been appointed to the role of Managing Director of the XDB Foundation.  “I am excited to see the launch of the XDB Foundation and to be joining the DigitalBits ecosystem in this new capacity,” says Gord. “In the coming weeks, the XDB Foundation will share additional updates regarding its key initiatives.  Over the past 2 years, we have seen DigitalBits achieve various milestones and with this next chapter I’m excited to see the XDB Foundation contribute as the new project lead supporting education, research and development, and ecosystem growth and adoption.”

Michael Gord’s first initiatives within blockchain started with establishing the McGill Students’ Cryptocurrency Club, McGill Students’ Fintech Association, Bitcoin Canada and providing leadership on the global expansion of the Blockchain Education Network.  Notably, he is also a key contributor to the Kerala Blockchain…

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As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to…

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Bityard Review: The simplest crypto exchange for novices

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The cryptocurrency industry continues to grow, and as the adoption pushes forward, there are more and more newcomers who are interested in joining it. However, there is also a problem with their lack of experience, as the majority of existing exchanges tend to target experienced traders.

Professional traders and institutions usually work with greater amounts of money, which is attractive to exchanges, Of course, there is nothing wrong with that, but it does leave a void in the crypto industry — a lack of novice-friendly exchanges for beginners.

This is where Bityard comes in.

What Is Bityard?

Bityard is a cryptocurrency exchange headquartered in Singapore. It is a novice-friendly platform that aims to bring the ultimate simplified trading experience to its customers.

It does this by adhering to the product concept of ‘Complex Contracts Simple Trade.’ 

The company is taking this approach exactly due to the previously mentioned issues. Its main competitors — exchanges like BitMEX, Deribit, or Bybit —tend to focus on professionalism and complexity. As such, they tend to attract users who seek out advanced trading capabilities, tools, and alike.

Bityard, on the other hand, aims to offer its own services to newcomers to the crypto industry — those who lack experience in their first days within the…

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