You can end up in jail for possessing it, given a warning or the person next to you can join in. Such is the nature of marijuana in the world. However possession of the substance is not much talked about anymore compared to the payment transfer of the purchase of it. Launched in 2014, this peer-to-peer digital cryptocurrency intends to connect registered dispensaries to sell marijuana to people- legally, of course.
Bitcoins Herbal Little Brother
Cannabis based its technology on Bitcoin, making it extremely secure. The founders of this coin had the wellbeing of marijuana users in mind, and therefore made a slight tweak to the programming of this coin and have made it efficient to mine with a normal, modern PC or laptop, defeating the usurping of mining by ASIC and other supercomputers.
The success of cryptocurrencies has prompted every person capable of designing a digital currency to make one and dub it as the next big thing. Nearly none of these have ties to any physical asset. Cannabiscoin is one of the few marijuana cryptocurrencies, which actually does and to none other than cannabis. CannabisCoin was launched on May 2014 on the X11 algorithm, which is an asic resistant algorithm. This means you can mine on CPU and GPU power. There is a total of 106 million coins with 105 Cann per block reward. There was an update with a hard fork that had an announcement on June 13, 2017. It looks like there inflation model was fixed and halving happened before it should have. The reward is now set to 70 coins per block and every block time is roughly 42 seconds.
Yes We Cann
The developer of Cannabiscoin, Ty, started a movement called the Yes We Cann. Described as a movement about medical marijuana dispensaries and shop owners that participate in providing safe, affordable, quality medicine (cannabis) at a significantly reduced rate utilizing CannabisCoin.