Financially-minded innovators are creating solutions for countless unbanked dispensary owners. Combined, these developments represent the growing impact of blockchain technology in the world of legal cannabis.
How Blockchain Could Solve the Cannabis Industry’s Problems With Banking and Credit Card Processing
Coming in 2017: “Live” Blockchain Deployments Promise to Accelerate Payment Processing Services and Trade Finance
By Mike Faden
Though few blockchain-based payment services are yet available, that’s expected to change in 2017 as the investment that has poured into exploration of blockchain’s potential by banks, financial-technology startups and other companies yields fruit. According to a survey of 200 global banks published by the IBM Institute for Business Value and The Economist Intelligence Unit, 15 percent of banks expect to introduce full-scale commercial blockchain solutions in 2017, with “mass adopters” rapidly following suit – bringing the total to 65 percent of banks by 2020 (just three years).1 This post offers a roundup of many live and near-live blockchain payment processing solutions and trade finance deployments.