“Dash will be the Paypal of the legal cannabis industry”
“Dash will be the Paypal of the legal cannabis industry”

“Dash will be the Paypal of the legal cannabis industry”

By Fabio Lugano - 24 Jul 2018

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On 22 June, cryptocurrencies entered the House of Commons.

Mark Mason, coordinator of Dash International Outreach, an operational branch of Dash, gave a speech to the British Parliament to explain what the blockchain is, who his colleagues at Dash are and what are the particular characteristics of this cryptocurrency.

The speech was simple.

To introduce the cryptocurrency he said: “Dash is an open-source, peer-to-peer, digital currency with a strong focus on the payments industry, utilising blockchain technology. Dash offers a form of money that is portable, inexpensive, divisible and fast. It can be spent easily and instantly at merchants across the globe at much lower fees than credit and debit cards.

Mason also presented the major services that currently rely on the Dash chain, such as:

  • Bitrefil, telephone recharging service through cryptocurrencies;
  • Remax, the operator for the rental and sale of real estate;
  • Uphold and Bitwage, services for the payment of wages;
  • BlockCypher, a peer-to-peer exchange of renewable energy of the US Department of Energy

The most interesting part of the speech, however, was related to the use of Dash within the legal cannabis industry: in fact, Dash has concluded an agreement with as many as 4000 points of sale, manufacturers and legal distributors in the US, so as to become the main payment system in the industry.

Mason pointed out, “Dash will become the Paypal of the legal drug industry.”

The latter is an assertion of great importance, given that the legal cannabis market has reached 10 billion dollars in sales, some of which are potentially channelled through Dash.

Currently, this cryptocurrency capitalizes over $1.9 billion with a unit value of about $240 per token.

Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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