— DASH (@Dashpay) May 14, 2018
Dash have recently shared a link to a new website on Twitter that highlights a use for the Dash currency. Working alongside the blockchain, Alt Thirty Six is a new platform which has been designed to facilitate digital payments and record keeping for dispensaries and other cannabis companies within the US cannabis industry.
To give you some insight, Cannabis is legal in a number of states within the US, a total of nine which facilitate legal recreational use and a total of 29, in which medical cannabis may be used, based upon a doctor’s letter/prescription service.
According to Statista, in 2016 the US legal cannabis industry was worth around $6.6 Billion, with projections that by 2025, it could be worth up to $24.1 Billion (inclusive of both medical and recreational cannabis).
You can see more about the Alt Thirty Six programme for yourself, here- http://www.alt36.com/
Alt Thirty Six allows customers to purchase legal cannabis using Dash currency, this is carried out over a simple to use mobile application, the use of the blockchain means transaction fees are also kept to a bare minimum. The application also exists as a Dash wallet, allowing users to purchase Dash with US Dollars and transfer Dash externally.
According to CEO of WebJoint, Christopher Dell’Olio:
“This partnership will take cannabis tech to the next level and help all companies across the supply chain accept cashless payments and offer a reliable merchant solution to our 200+ cannabis POS clients.”
This news seems to have had a positive impact on Dash and really does offer a new way for this currency to be spent. The cannabis industry is frankly huge in the United States, through a partnership with Alt Thirty Six, Dash are offering more and more people access to cryptocurrencies that in turn, they can invest in and make money from.
At the time of writing, Dash is valued at $436.98 and is up 11.07%.
This is an exciting new use for this growing cryptocurrency. Of course, in the past Dash has peaked way above $1,000.00, its current value does suggest Dash is a little off reaching this goal once more, but we should consider the implications of this partnership, in theory it should increase trading volume and of course, should therefore increase the market capitalisation of the currency. What’s more, as this is a novel approach to a huge US based industry, we might expect other currencies to start to tap in to a blockchain x cannabis collaboration.
Whilst it may remain controversial for the rest of the world, this is a big step for Dash within the United States and of course, huge steps for the ever-growing cannabis industry.