Alt Thirty Six, a project funded by the Dash Digital Cash treasury, is making headway in the cannabis industry with its new partner, CannTrade. This online organization connects over 400 cannabis retailers to a one-stop management system. Now using Alt Thirty Six’s payment gateway using Dash, merchants on CannTrade can avoid the insecurities of the cash-only restrictions placed on the cannabis market.
Technology used on the CannaTrade’s platform is revolutionizing the way dispensaries, growers, and manufactures do business. Some of their features include:
- Web site sales using a map locator and store-front
- CRM abilities to handle orders, track deliveries, and process account information
- Interrogation with industry specialists including labs, growers, and suppliers
- Brand awareness promotion
- Documents on licenses, invoices, and tax documents to stay compliant
The partnership with Alt Thirty Six using Dash is yet another innovation that will ease the strain on cannabusinesses. With recreational or medicinal weed legal in 29 U.S. states, business is booming, but the federal law still considers it an illegal enterprise. This makes national banks and credit card companies opposed to bank accounts, credit, and loans for cannabusinesses. So, the industry must use cash as its only form of payment. This leads to several issues:
- Security is needed to guard large sums of cash in the store and while transporting.
- Consumers must carry cash with them to dispensaries which is inconvenient and dangerous.
- Inventory is difficult to track when there are no paper records or bank transactions.
- Online transactions, especially from merchants to manufacturers, are difficult and requires trust.
- It ultimately slows down transaction times and limits business transactions in the age of technology.
Cryptocurrency saves the day with digital cash that does not operate through a bank or credit card. It uses blockchain technology to handle fast, secure, and easy transactions on a decentralized network. People can transfer cryptocurrencies using wallet apps right on their phone instantly.
Dash was implemented by Alt Thirty Six because of its miniscule processing time and low fee rate. This makes Dash a preferred choice on cash as well as any bank or credit transaction. And with its integration into CannTrade, the cannabis market and the cryptocurrency market will both thrive together.