TOKES AND POTCOIN ENTER INTO EXPLORATORY STRATEGIC PARTNERSHIP TO EXPAND POTCOIN’S TECHNOLOGY ECOSYSTEM WITH A FOCUS ON THE CANNABIS SECTOR
- Protocol integrations
- Software distribution
Multichain Ventures is proud to announce that it has signed a Memorandum of Understanding with PotCoin, entering into an exploratory relationship with one of Multichain’s subsidiary brands, Tokes Platform. This partnership would enhance PotCoin’s technology ecosystem by leveraging Tokes Platform infrastructure, while utilizing the PotCoin brand to enhance exposure and secure placements for both parties. This relationship positions PotCoin to become a key strategic channel partner for the cannabis industry, providing merchants with point-of-sale processing software, eCommerce storefronts, mobile applications, and supply chain visibility tools, originally developed at Multichain Ventures.
“Our vision for the future of Multichain Ventures encompasses ubiquitous deployment of our existing financial services suite to a global, industry agnostic, audience of early adopters interested in participating in the blockchain and cryptocurrency ecosystem. The road ahead includes numerous enhancements via integrations with partners such as Brave New Coin, that would extend the services offered into portfolio management, investment tools, yield generation, DeFi exposure, and direct trade operations.” Michael Wagner, CFA, — Multichain Ventures, CEO
Tokes, a subsidiary of Multichain Ventures, is a blockchain-focused technology company building software solutions for merchant adoption of cryptocurrency, and data provenance of supply chains within the legal cannabis industry. The platform was launched as a solution to the cash-only problem caused by federal prohibition, resulting in banking and electronic payment restrictions. The ecosystem of Tokes software products for payments encompasses a full loop from consumer acquisition of cryptocurrency (via on-site kiosk partner VaultLogic), to merchant processing at the point of sale, through business-to-business transactions. Additionally, Tokes offers custody solutions enabling merchants to: accept tokenized payments of numerous assets, trade these tokens for alternative digital assets, and subsequently initiate wire and ACH transfers through a custody agent to third parties. Further, the Multichain Ventures team has worked hand-in-hand with legislators at the state level to help inform regulatory language for the adoption of this technology with cannabis verticals (see Nevada’s Assembly Bill 466).
PotCoin is an open source project under an MIT license, created by a team of developers who foresaw the financial challenges facing the blooming cannabis space. Since 2013, their core mission has been the development of essential tools to create value for the community, by the community. Tools intended to educate operators on the use of blockchain, create transparency, and to develop trust through a set of guidelines of integrity within the challenging environment that cannabis operators find themselves navigating.
PotCoin aims to bridge the gap between the cannabis and blockchain sectors by using its community-based philosophy alongside partnerships to create an ever-expanding global ecosystem. Companies leveraging this know-how have the potential to considerably improve their network effects by connecting to the PotCoin biosphere.
“The opportunity ahead lies within value creation and leveraging eachother’s core competencies for the future of decentralized blockchain technology. With PotCoin’s community and Tokes Platform technology we strive to provide the market landscape with a complete transactional solution.” @joshinthecity, PotCoin
In recent years, PotCoin has garnered mainstream attention for its unconventional approach, which has led to mentions and features in mainstream talk shows, sitcoms, publications, podcasts & major news outlets.
“This partnership with PotCoin presents a tremendous opportunity to demonstrate the capabilities of our platform and increase the distribution of our software. PotCoin possesses an extensive background in both cannabis and cryptocurrency, a substantial network of suitable adopters, and the acumen necessary to bring this solution to market. Their isolated focus on the sizable market opportunity within cannabis produces favorable efficiencies for both partners.” Michael Wagner,CFA — Multichain Ventures, CEO
Combining the resources of technology development expertise, industry relationships, long-standing brand equity, and elegant marketing strategies, the collaboration between these entities produces a significant competitive advantage within the cannabis vertical.
ABOUT MULTICHAIN VENTURES
Multichain Ventures is a technology developer and financial services integrator focused on robust financial infrastructure that facilitates crypto-based commerce. Proprietary elements include: custody, compliance, KYC/AML, and payments, inclusive of price conversion and trade processing.
ABOUT TOKES PLATFORM
Tokes Platform is a blockchain focused company building software solutions for merchant adoption of cryptocurrency coupled with data provenance of supply chains within the legal cannabis industry for the private and public sectors. This includes, but is not limited to, point-of-sale processing software, ecommerce storefronts, mobile applications, and supply chain visibility tools.
PotCoin was the very first industry specific cryptocurrency developed to empower the legalized cannabis industry. PotCoin is a community based project, operating as a decentralized organization where community members determine their level of involvement, commitment and ultimately, coin development.
Name: Press Team