Cannabis and cryptocurrency are just two of the hottest industries across the globe, and some companies are ambitious in eyeing to take a fair share of both markets.
According to investment firm Cowen’s new forecast, the cannabis industry could hit about $75 billion in yearly gross sales by 2030. The firm hiked its earlier expectations, which is at a $50 billion gross-receipt forecast by 2026, after deeming that “the market is already that size.”
On the cryptocurrency space, everyone knows it’s everywhere and it is beginning to disrupt financial systems of various countries, prompting governments to accept it as a legitimate currency.
Established cryptocurrency market analyst Chris Burniske, who is also the founding partner at Placeholder VC and former lead at ARK Invest, expects the global bitcoin mining industry to hit between $3 billion and $4 billion.
As such, there is an emergence of a handful of strategic firms that are engaging in both businesses. Here are the leading companies that are going that direction:
1. SinglePoint, Inc.
Based in Phoenix, Arizona, SinglePoint, Inc. (OTCMKTS:SING) aims to capitalize on the federal restrictions currently hounding the legal cannabis businesses. Its solution is a bitcoin payment system for its new SingleSeed subsidiary.
Aside from the aforementioned SingleSeed.com, the firm also launched the LastMile Delivery and a Cannabis Waste Diversion initiative, both designed to instill improvements in the cannabis industry. The former is currently in its beta testing stage in the App Store and Google Play and aims to work on enhancing the cannabis delivery businesses’ capabilities. The latter, on the other hand, addresses issues regarding diverting cannabis waste.
2. PotNetwork Holding, Inc.
PotNetwork Holding, Inc. (OTCMKTS:POTN) is still new in the crypto industry, but it is driven to become a leader in the said sector. This drive of the Florida-based company is hoped to be instilled as well in its newly established cryptocurrency subsidiary, the Blockchain Crypto Technology Corporation.
In fact, its crypto unit has purchased a cryptocurrency mining facility equipped with 115 powerful rigs. This will allow the firm to capitalize on the profitable Bitcoin mining industry. With its new facility, the Blockchain Crypto Technology Corp. will be able to handle future transactions of its proprietary alternative coin.
In the cannabis market, PotNetwork is in the top ranks with its commitment to deliver the highest quality cannabidiol (CBD) products to the market. CBD is one of the several compounds in the cannabis sativa plant to which therapeutic applications are attributed.
3. düber Technologies Inc.
A software-as-a-service provider for cannabis companies, düber Technologies Inc. aims to help small companies engaged in the business of selling cannabis products to offer online ordering, self-serve systems, and advertising campaigns to promote their products, among other services.
Last December, the firm launched its initial coin offering (ICO) for the dübercoin token. Secured by blockchain technology, the digital currency is expected to provide more transparency, security and efficiency for the purchase transactions done through the düber platform. As such, users can expect an improved quality in the storage of information of their products. This helps consumers ensure that they are getting the licensed cannabis products they ordered.
Through this ICO and other efforts it plans to roll out in the future, the Seattle-based company aims to help the small cannabis-focused businesses to compete with large corporations through superior technology.
Overall, these firms are accomplishing stellar growth and have been showing good strategic business moves. These companies’ focus on the hot cannabis and crypto markets will allow them to be highly lucrative, coming in the tight market already with a head start in revolutionizing these industries.
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