{"id":37068,"date":"2016-10-28T20:00:00","date_gmt":"2016-10-28T20:00:00","guid":{"rendered":"https:\/\/merryjane.com\/bitcoin-credit-card-solves-marijuana-crisis\/"},"modified":"2016-10-28T20:00:00","modified_gmt":"2016-10-28T20:00:00","slug":"bitcoin-credit-card-solves-marijuana-crisis","status":"publish","type":"post","link":"https:\/\/merryjane.com\/news\/bitcoin-credit-card-solves-marijuana-crisis\/","title":{"rendered":"First Bitcoin&#8217;s Credit Card System Solves Marijuana&#8217;s Cash-Only Crisis"},"content":{"rendered":"<p>How do you do business safely in a cash-only industry such as&#xA0;the medical marijuana industry? One solution is to avoid traditional currency (such as the almighty Dollar) altogether. Bitcoin&apos;s untraceable cryptocurrency properties make it ideal for those in the marijuana industry. Recently, <a href=\"https:\/\/bitcoincapitalcorp.com\/\" target=\"_blank\" rel=\"nofollow noopener\">First Bitcoin Capital Corp.<\/a> announced the signing of a merchant account processing agent agreement including a credit card processor for the states of California and Oregon.This means that medical marijuana patients could soon swipe for their dispensary purchases.<\/p>\n<p>The unwillingness of major banks to work with the marijuana industry has forced businesses to deal in cash,&#xA0;therefore operating in a constant state of danger. First Bitcoin is developing a user friendly suite of financial services including merchant processing and POS systems as well as&#xA0;a solution to accept Credit and Debit card&#xA0;system that can be used without needing a bank account.<\/p>\n<p>&quot;Being the first publicly-traded cryptocurrency and blockchain-centered company we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies,&quot; a spokesman for First Bitcoin Capital said in a press release.The state of California has enacted legislation that makes Bitcoin legal tender. Per a case in California, a US district judge ruled that Bitcoin is defined as property.<\/p>\n<p>The allure of Bitcoin&apos;s blockchain technology is unfolding. A blockchain is an experimental digital technology that creates a public ledger of every Bitcoin transaction that has ever been made, and cannot be altered by any party. The blockchain technology has been used for a number of reasons including the ability to log and track medical marijuana DNA sequencing. Over 50 global financial systems are investigating blockchain technology and most agree that&#xA0;blockchain technology is definitely here to stay.<\/p>\n<p>First Bitcoin&apos;s system can provide a way for dispensaries to accept payments without transporting enormous amounts of cash, which&#xA0;currently leaves&#xA0;them vulnerable to criminal elements.&#xA0;<\/p>\n<p>&#xA0;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swipe and smoke.<\/p>\n","protected":false},"author":2,"featured_media":37069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3036],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>First Bitcoin&#039;s Credit Card System Solves Marijuana&#039;s Cash-Only Crisis - Merry Jane<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/merryjane.com\/news\/bitcoin-credit-card-solves-marijuana-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Bitcoin&#039;s Credit Card System Solves Marijuana&#039;s Cash-Only Crisis - Merry Jane\" \/>\n<meta property=\"og:description\" content=\"Swipe and smoke.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/merryjane.com\/news\/bitcoin-credit-card-solves-marijuana-crisis\/\" \/>\n<meta property=\"og:site_name\" content=\"Merry Jane\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-28T20:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/merryjane.com\/wp-content\/uploads\/2024\/03\/BITCOIN_WIDE-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1118\" \/>\n\t<meta property=\"og:image:height\" content=\"610\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"MJ Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"MJ Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/merryjane.com\/news\/bitcoin-credit-card-solves-marijuana-crisis\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/merryjane.com\/news\/bitcoin-credit-card-solves-marijuana-crisis\/\"},\"author\":{\"name\":\"MJ Staff\",\"@id\":\"https:\/\/merryjane.com\/#\/schema\/person\/b90d5b22bd5e702cf8cbd8e406675f7b\"},\"headline\":\"First Bitcoin&#8217;s Credit Card System Solves Marijuana&#8217;s Cash-Only Crisis\",\"datePublished\":\"2016-10-28T20:00:00+00:00\",\"dateModified\":\"2016-10-28T20:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/merryjane.com\/news\/bitcoin-credit-card-solves-marijuana-crisis\/\"},\"wordCount\":337,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/merryjane.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/merryjane.com\/news\/bitcoin-credit-card-solves-marijuana-crisis\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/merryjane.com\/wp-content\/uploads\/2024\/03\/BITCOIN_WIDE-2.jpg\",\"articleSection\":[\"NEWS\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/merryjane.com\/news\/bitcoin-credit-card-solves-marijuana-crisis\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/merryjane.com\/news\/bitcoin-credit-card-solves-marijuana-crisis\/\",\"url\":\"https:\/\/merryjane.com\/news\/bitcoin-credit-card-solves-marijuana-crisis\/\",\"name\":\"First Bitcoin's Credit Card System Solves Marijuana's Cash-Only Crisis - 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