HempCoin, The Solution For Buying And Selling Hemp Products HempCoin is a more modern coin that runs on blockchain similar to that of Bitcoin. With it's goal in mind being to solve the problems with Modern Fiat currencies used by the US governments. It's main focus is those within transactions involving hemp and hemp products. The Issues it looks to solve date back to the Controlled Substances Act of 1970 (A replacement for the 1937 Marijuana Tax Act). Although the USDA made a ruling about two years ago to make hemp a federally legalized crop, but is only legal in a handful of states as some parties (two major parties being the Libertarian Party and the Green Party) and movements fight for it's legalization on state levels. This and Regulations have caused banks to be cautious of working with farmers of said product. As Marijuana and Hemp's legal position and regulations moves all over the place with bills and laws being passed and turned down all year round, such examples as a recent denied bill that would decriminalize position of under 2 once or less of Marijuana in Indiana was struck down Indiana House bill 1117. HempCoin looks to be a decentralized solution for the consumers, businesses, and suppliers of the product. As It's been their mission for 5 years to have a payment system that looks to try to end all these problems, to better help be that solution for agricultural hemp and tobacco industries. Their system aims to make it easy for consumers to purchase products and services using theirs coin. Whether it be imperson or online transactions, their system aims to get the job done quickly and easily. The Coin was created in 2014 as one of the first 30 coins created. The coin also fully vetted by Bittrex. HempCoin also has a substantial following within it's community, with a higher brand recognition compared to some in the industry. When the coin was originally thought up of it's main goal was for agricultural use (a 1.109 trillion USD industry as of 2019, making up 0.6% of the United States of America's GDP), to help better facilitate the transactions between the distributors and the farmer of the product known as hemp. The coin itself goal as the future comes is to fix it's liquidation issues as it becomes more mainstream as a coin, and to imbrace modern payment technology to help itself better provide it's users with a real-world banking solution to help as an easy alternative to the legal cannabis industries, and tobacco industries. In order to comply better comply with local and federal regulations growers are required provide specific information about their crop and harvest, along with that information pertaining other day to day operations. This information should be stored safely, easily, and securely, alot of this data in inefficient to handle solely via human interactions. HempCoin looks to solve these problems with their decentralized networking and data storage system know as HempTRAC which looks to solve this problem, by using UTXO Smart Contracts to create and audit. Other notable facts about its market include, It was once in the top 100 coins on CoinMarketCap, also in 2018 their market cap was a whopping 170 million USD, with 15 million USD average in trades everyday. If you would like more info on the project feel free to follow the project on there official pages . https://hempcoin.org/ https://twitter.com/thehempcoin https://github.com/hempcoin-project https://t.me/HempCoinOfficial https://discord.com/invite/kAhpdAQ
