Weedmaps, the online legal marijuana community, allows users to review and discuss cannabis strains and local dispensaries. The website garners two million monthly visitors with annual revenue of approximately $18 million. Widely considered the industry leading website, Weedmaps founder CEO Justin Hartfield has a unique point of view on the industry. Hartfield recently told CCN that he does not believe Bitcoin will help the cannabis industry.
“Here’s the thing – say you sell a bunch of weed, and your customers pay you in Bitcoin,” Hartfield told CCN. “How the heck are you gonna cash out millions of digital coins into tens of millions of United States Dollars? We need this multi-billion dollar industry out of the shadows and into the light and banking is the first crucial step to that maturation,” he adds.
Read Justin OConnell’s “Weedmaps.com Founder Doesn’t Think Bitcoin Is What Marijuana Industry Needs”: https://www.cryptocoinsnews.com/weedmaps-bitcoin-marijuana