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Tokenized Cryptocurrencies: Too Much Trouble

Blockchain has the potential to revolutionize the way the cannabis industry handles seed-to-sale compliance, point-of-sale transactions, and payment systems -- but as with any revolution, there is also a resistance. One of the main challenges is convincing end users to embrace the alternative currencies necessitated by blockchain transactions. Acquiring the tokens from an cryptocurrency exchange is even more difficult.

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In order to pay for a purchase, customers must download an app, buy tokens/ coins, and then settle that transaction with the retailer. This drawn-out process slows the checkout experience, setting up more barriers between customer and transaction. 

Cryptocurrency systems can be problematic for cannabis retailers as well. In order to accept these payments, merchants must set up complicated and expensive infrastructure. Then there’s the puzzling process of converting back-and-forth between crypto and fiat currency. On top of that, merchants can’t liquidate their token holdings until they’ve reached a target number of transactions, putting more constraints on cash flow.

By contrast, the Alt Thirty Six platform enables users to harness the benefits of crypto without the complexity.  Alt Thirty Six merchants can accept digital payments in real-time USD, without the volatility associated with the crypto coin/ token system. Better still, Alt Thirty Six does not require users to buy, sell or hold any type of cryptocurrency. Transactions are displayed in USD at all times, and you’ll never have to pre-load your account prior to shopping.

To learn more about digital payments for cannabis download our ebook!

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#Payments   #Digital Currency   #Blockchain   #Cannabis