On the Bitcoin blockchain, a single cryptocurrency has been launched for the whole cannabis market

Greek billionaire and television director Alciades David (Alkiviades David) and his Swiss consortium launched a cannabis-supported SWX Coin token.

According to a press release , the token will be managed by a consortium created by Swissx Bank of Cannabis, headquartered in Gstaad (Switzerland) and the so-called Caribbean country.

It is reported that the token is based on the bitcoin blockchain and its price is tied to the “median global price of the premium hemp flower”.

Initially, the coin will be used to pay remuneration to farmers-members of the Swissx Hemp Farmers cooperative for growing cannabis. They will be able to exchange SWX Coin for cash without any restrictions at any time at the headquarters of the bank. Swissx expects the token to be a “turnkey solution” for the entire cannabis sector, providing a safe and transparent place for all transactions.

Swissx Bank of Cannabis started with the support of premium seeds of hemp Swissx Cherry Wine and Donald Trump in the amount of $ 750 million and $ 250 million “Wave Technology.”

The legal cannabis industry is growing rapidly and it is expected that by 2023, the business of growing marijuana in the United States alone can reach $ 23 billion, the statement said.

Recall, TD Ameritrade CEO Tim Hoki (Tim Hockey) last year noted that “bitcoin and cannabis-related securities feed the“ impressive activity of retail investors ”.

Publication date 07/29/2019
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