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Cannabis and Blockchain could be the perfect match
Category: News - 2017-11-17
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Cannabis and blockchain could be the perfect match

The world is progressing at a phenomenal rate. The integration of cryptocurrency in the real world is will soon be a regular occurrence thanks to corporations like CME who aim to make Bitcoin investing a reality for anyone who can afford it.

The base of Bitcoin, and other virtual currencies, is blockchain technology, which in itself is growing at a rapid pace. It is not only being used for cryptocurrencies though. It is a great option for businesses who want to operate in a decentralized and transparent manner, which seems to be the way of the future.

Another development in the world is the rapid legalization of cannabis. What does that have to do with blockchain technology? A lot, according to IBM. It could be the answer to British Columbia’s data management of the herb.

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Two sides of the (Bit)coin when it comes to investing​​​​​

The crypto industry in general is a volatile one. This is especially evident in the case of Bitcoin. The price of the currency has increased by more than 600% this year alone. It recently set a record high of over $7,600 before stabilizing at around $7,000. Stabilizing might be a bit of a loose term with regard to Bitcoin due to the market’s unpredictability.

Because of this, when you buy Bitcoin is extremely important. In addition to its highs, it has experienced some lows. An example is when it dropped by 20% at the beginning of this year. Double-digit drops in fiat currency would result in panic, but Bitcoin seems to be in league of its own as it still appears to be a lucrative investment.

In 2008, during the global financial crisis, stocks plummeted by 40%. The repercussions of this period can still be seen and felt today. People who had invested their savings were left devastated, and not as financially stable as they would have thought going into their golden years. Experts have said that this was a once-in-a-century event. For Bitcoin, drastic drops seem to be common occurrences.

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Why freelancers should start using blockchain now

If you know anything about the crypto industry, you’ll know that its growing at a phenomenal rate. It seems to be on a mission to lf into our everyday lives, and with the support of big companies such as CME, it isintegrate itse well on its way to doing that. Its popularity is definitely changing the way we see and operate with traditional fiat currency. In addition, Blockchain technology, which is the basis of Cryptocurrencies, is also finding popularity as a viable business tool.

Freelancing is also shaking up the more traditional way of working. Working nine to five has definitely become just another 80s song as more and more of the workforce are seeing the benefits of providing freelance services, and it’s not just the workers. Employers are seeing the advantages as well, which could be why freelancers account for more than 35% of the US workplace.

When we combine the decentralized nature of blockchain with the requirements of freelancers, we find a unique and beneficial solution to common problems experienced by the freelancer community. Two of these issues are high transaction costs as well as the high number of competing freelancers. Standing out from the crowd can become an issue.

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