Israel’s largest trading platform for cannabis Telegrass, with more than 100,000 participants, July 31, announced on social networks that will begin to accept bitcoin payments. Moreover, in the framework of such payments discounts.
The user community platform, connecting buyers and sellers through Telegram, seeks to legalize the recreational use of cannabis in Israel. The sellers can place the price list of your products in one city, but is of a broader area paid.
Funds raised through cryptocurrency payments will go towards paying employees Telegrass. Still they worked on a voluntary basis. In addition, the money will be spent to further the campaign to legalize cannabis. For a long time the site was under scrutiny by the police. The project team seeks to ensure the anonymity of buyers and sellers — greater degree of security. With the help of the customer verification system eliminates police, working undercover.
While the market for recreational cannabis in Israel has been undergoing a slow and gradual process of decriminalization, the legal market is growing rapidly. A host of startups “canna tech,” the agricultural company to create a farm that supplies medical marijuana to pharmacists around the world and local investors are keen to participate in this sector.
Analysts often compare investment in the industry with investments in bitcoin projects, saying that cannabis and cryptocurrencies — the most rapidly developing trends of our time.
Recently Bitcoin.com wrote about Fantasy Network, a company listed on the tel Aviv stock exchange (TASE: FNTS), which abandoned plans to work in the field of blockchain and turned to the business of legal cannabis.