First Bitcoin Capital (BITCF): The Money Solution for the Cannabis Industry
First Bitcoin Capital Corp. (BITCF) is the first publicly-traded Bitcoin entity to enter the arena. Without a doubt, the company is unlike any other right now and can tap into two emerging growth markets: Blockchain/Fintech and the cannabis space.
BITCF is positioning itself as an online payment solution for medical marijuana dispensaries. This month it signed an Exclusive Master Distributor Agreement to distribute a new type of fully automated check cashing ATM designed for use in medical cannabis dispensaries for the State of California. BITCF combined this with its check cashing ATM service to round out a complete list of financial services for the industry. The check cashing ATMs marketing efforts will be focused toward larger established medical marijuana dispensaries. Since major banks will not work with the marijuana industry, BITCF offers a friendly allure to this soon to be important sector. In a press release, the company described competitive fees and the ability to cash a variety of check types. “Being the first publicly-traded cryptocurrency and blockchain-centered company we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies,” a spokesman for First Bitcoin Capital said in a press release.
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First Bitcoin Capital
First Bitcoin is also developing a system that will enable dispensaries to accept Bitcoin and other cryptocurrencies as a form of legal payment. The State of California has already enacted legislation that makes Bitcoin and similar digital currencies legal tender.
In addition, the company plans to operate in the following segments of the industry.
- Mining/hardware: investing in computer software to run the complex mathematical algorithms needed to mine different digital currencies, such as Bitcoin, Litecoin and others.
- Coinqx.com: developing digital currency exchanges to facilitate the conversion of Bitcoin and other online currencies. This will include the creation of digital wallets where users can securely buy, sell and accept Bitcoin and other currencies.
- Providing liquidity to worldwide Bitcoin and digital currency exchanges.
- Promotion/ education: engaging, encouraging and educating the everyday consumer and merchants about the value of accepting Bitcoin and the benefits it provides.
- Business to consumer or B2C: developing online stores and various platforms whose goods and services will exclusively support the acceptance of Bitcoin.
- Research and Development: developing innovative technologies that will promote the use of digital currency and conduct extensive research in other emerging forms of cryptocurrency.
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