Why many businesses grow their successes with crypto

Crypto deserves to win the buzzword of the year. In such a short span of time, cryptos changed the landscape of entrepreneurs and startups all over the world. The hype train is real, and it shows no signs of slowing down soon.

Cryptocurrency, crypto mining and blockchain technology provide opportunities for growth to numerous companies. They add another breath of life to those struggling to remain relevant. The battle is now beyond who can make unique products but who can adapt offerings and operations faster.

Here are three companies that have experienced growth after shifting to cryptos.

1. WeedMD

WeedMD is certified under federal laws and one of the first companies to leverage blockchain technology in its cannabis operation. According to PotNetwork, WeedMD recently signed a deal with Blockstrain Technology Corporation to formalise its foray into blockchain technology.

Blockstrain, formerly known as Scorpion Resources Inc., will manage WeedMD’s vast cannabis genetics library. Blockchain is reliable in keeping records in order because it acts as a third-party ledger. Blockchain offers security against hackers and transparency because it can record every detail or transaction.

2. PotNetwork Holding

PotNetwork Holding, Inc. (OTCMKTS:POTN) is one of the fast-rising companies in the cannabis industry. Through its subsidiary, Diamond CBD, the company has managed to break sales record this year.

In a bid to diversify its interests, POTN announced its new subsidiary called Blockchain Crypto Technology Corp. The move could serve well for the future of PotNetwork, as RBC Capital Markets analyst Mitch Steves said, “Cryptocurrencies and the blockchain technology underlying them could become a $10 trillion market in 15 years."

3. Future Farm Technologies Inc.

Future Farm Technologies has invested in Flipcoin in order to accommodate bitcoin, Ethereum, Bitcoin Cash and Litecoin in its platform. Flipcoin boasts of 13 million active users, which Future Farm can instantly access for growth.

There are still doubts if blockchain is the future of cannabis industry. After all, blockchain and cryptocurrency are still unregulated, and cannabis is still prohibited in some parts of the US. Only 12 million are users of cryptocurrency compared to a larger number using companies to access financial transactions.

Cannabis and cryptocurrency is a perfect match because the latter provides a solution to strict bank guidelines regarding payment for cannabis transactions. In the case of POTN, the company is already successful in its field, but it still looks into areas with high potential such as the blockchain technology. Kodak and IBM have taken steps to venture into cryptocurrency and blockchain.

Article written using press releases sent for consideration.