Loading ...Hawaii now has Medical Marijuana dispensaries. Because the banking system will not service these businesses for fear of Federal retribution, the business deals only in cash. Of course this is a potential problem for thefts. So now the state is strongly encouraging the dispensaries to adopt a smartphone app for cashless purchases. The payment app is a Colorado-based Credit Union that also handles a lot of Colorado payments and has good experience with this. I guess the Credit Union gets around some of the federal banking rules and regulations enforcement since it is a state-based financial institution.
Looks like an area that Bitcoin could make some inroads.
And it looks like the over-reaching feds are slowly being ‘deClawed’ in the financial enforcement sector.