Posts Tagged: "S.1662"

Uncertain legal status of financial transactions in marijuana industry lead to bitcoin, cryptocurrency development

Increasingly, bitcoin and related cryptocurrencies are becoming the choice for most financial transactions within the nascent marijuana industry as the sector increases in value. North American marijuana sales reached $6.7 billion during 2016 and were expected to rise up to $20.2 billion annually by the year 2021… The USPTO published 390 patent applications related to blockchain tech, the underlying distributed ledger technology supporting bitcoin and other cryptocurrencies, between January and July of this year. That represented a 90 percent increase over the number of blockchain-related patent applications published during the same period in 2016.