Seattle, Wa–(Marketwired – Aug 8, 2017)
SinglePoint Inc. (OTC :SING) announces its purchase of WeedCoin which is one of the newest fiat currencies floated in the booming Cryptocurrency markets. The large block purchase is from crypto industry leader, First Bitcoin Capital (OTC: BITCF). After many months of collaboration, the two companies have decided this initiative is the starting point for a much larger play in the cryptocurrency markets. Weed “Coin” is a crypto currency geared toward solving the payment problems found in the cannabis industry. The coin recently had its ICO launch resulting in an impressive yet illiquid market cap of close to $60,000,000.
Currently WeedCoin is already listed on three exchanges. SinglePoint and First Bitcoin Capital plan to list and market the coin on many more exchanges soon. Additional listings and marketing efforts could generate greater interest levels found in such competitors as PotCoin as part of a partnership to move towards a massive consumer first approach. The consumer first approach overcomes the traditional issues of making a payment at dispensaries using cryptocurrencies.
A big barrier in making a payment at cannabis retail stores using cryptocurrency is the consumers do not yet have a wallet set up. This takes time and slows down this entire process. SinglePoint and First Bitcoin Capital plan to invest heavily in getting the consumers to sign up first, making sure they have the ability to quickly go in and make a purchase from a dispensary, painlessly. The consumer approach also lets the companies build in multiple programs such as loyalty, special offers, and the ability to track what kinds of products people are buying which leads to a massive database of what is popular, how much it is being sold for on average and many more insights to the cannabis industry.
The companies both believe that with the proper execution, users should find a similar experience to using Starbucks’ mobile payment system. An easy preload of your card, which enables you to purchase $Weed as money, instantly, then the employee at point of sale rings up your total and the consumers scan a barcode from their smart phone or tablet.
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed the company is providing products and services to the cannabis industry.
About First Bitcoin Capital Corp
First Bitcoin Capital Corp is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management’s experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital crypto currencies and blockchain technologies. At this time the Company owns and operates more than the following digital assets under development:
CoinQX.com cryptocurrency exchange, registered with FinCEN.
omniwallet.org Latest Active ICO for Loyalty (FLY)
altcoinmarketcap.com market capitalization for all cryptocurrencies with up and down voting by altcoin communities.
Alphabitcoinfund.com world’s first crypto ETF.
strain.ID cannabis strains genetic information depository on decentralized Blockchain.
iCoiNEWS.com real time cryptocurrency and Bitcoin news site.
BITminer.cc providing mining pool management services.
2016coin.org online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
bitcannpay.com Open Loop merchant services for dispensaries.
List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by the Company: omnichest.info
Second Omni wallet owned by CoinQX reflecting our airline mileage tokens issued: omnichest.info/lookupadd
Third (managed) Omni wallet owned by COINQX: omnichest.info/lookupadd
Learn More About SinglePoint at InvestorIdeas: InvestorIdeas.com/SING
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