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Future Farm Launches a New Cannabis Cryptocurrency -- CFN Media

(January 23, 2018)

SEATTLE, WA, Jan. 23, 2018 (GLOBE NEWSWIRE) -- CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article covering how Future Farm Technologies Inc. (CSE: FFT) (CNSX: FFT) (FFT.CN) (OTCQB: FFRMF) recent investment in FlipCoin represents one of the most promising applications of cryptocurrency in the cannabis industry. FlipCoin solves many different problems in a way that’s easily accessible to both consumers and businesses.

Crypto for Cannabis

The cannabis industry is expected to generate upwards of $50 billion per year by 2026, according to Cowen & Co., which could exacerbate the industry’s banking issues. While some states have established cannabis credit unions, most commercial banks have long avoided the industry due to federal-level regulations. Attorney General Jeff Sessions’ rescinding of the Cole Memo further underscores the risks of banking the cannabis industry.

Cryptocurrencies have been around for several years, but they’re just starting to gain traction among businesses and consumers. Since they operate on a blockchain, they are not part of the federal central banking system and aren’t subject to the same regulations as commercial banks. The downside is that they are a lot more volatile than fiat currencies, like the U.S. dollar, and nobody was aware of them until their recent rise in popularity.

There are two ways that cryptocurrencies and blockchain technology could help the cannabis industry. First, cryptocurrency could become a viable payment method and way to store capital without putting cash in a vault. This could improve the security of many dispensaries and simplify the payment process for consumers. Second, blockchain technology can be used to keep careful record of transactions in a tamper-proof ledger for regulators.

FlipCoin’s New Model

There are several cryptocurrencies that have already targeted the cannabis industry, but creating a new ‘coin’ is a challenging process. In essence, you’re forced to create your own economy by generating both demand and supply sides of the market, which is a long-term process. The value of the ‘coin’ may also be very volatile in the early days, which makes it difficult for dispensaries to use in practice.

Future Farm Technologies recently announced the acquisition of 51% of FlipCoin, a new crypto application and point-of-sale platform for cannabis dispensaries. Rather than launching their own coin, FlipCoin is built atop CoinBase, a leading broker of Bitcoin, Ethereum, Bitcoin Cash, and Litecoin more than 13 million active accounts. FlipCoin processes payments through this platform to accept cryptocurrencies and immediately convert them into cash.

The company plans to initially roll out the technology in its partner dispensaries, which could provide immediate traction ahead of a larger roll-out. By charging a transaction fee, the company would generate revenue from each sale while providing immediate settlement, unparalleled security, and other benefits for dispensaries. The technology is also ideal for international expansion where users would no longer worry about currency conversions.

Looking Ahead

Future Farm Technologies Inc. (CSE: FFT) (OTCQB: FFRMF) represents one of the most promising applications of cryptocurrency in the cannabis industry. By working with Coinbase, the company has instant access to more than 13 million active consumers. Its focus on immediately converting cryptocurrency into cash also reduces the risks associated with holding onto volatile cryptocurrency assets for businesses that rely on stability.

Please follow the link to read the full article: http://www.cannabisfn.com/future-farm-launches-new-cannabis-cryptocurrency/

For more information, visit the company’s website at www.futurefarmtech.com.

About CFN Media

CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.

Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany

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Disclaimer

CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies.  We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.  

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

CONTACT: CFN MediaFrank [email protected]

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