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BITCOIN FINDS ITS NICHE IN MEDICAL MARIJUANA DISPENSARIES

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Submitted by Marijuana News on Thu, 01/29/2015 - 06:53

Medical marijuana users will be among the earliest users of bitcoin, according to bitcoin entrepreneur Peter Klamka. Klamka’s Ann Arbor, Mich.-based company, Bitcoin Brands, has placed a bitcoin ATM machine at one medical marijuana dispensary and is in the process of placing another two in the Grand Rapids area.

Klamka’s bitcoin ATM machine, made by Portland, Ore.-based Skyhook, provides the customer a QR code which they get scanned at the checkout counter by a clerk using a bitcoin payment tablet.

“The (payment) technology is like a gift card,”

Klamka says. The Copenhagen, Denmark-based bitcoin processor Coinify processes the payment. Not all bitcoin processors, including Bitpay and Coinbase, will handle marijuana purchases, Klamka says.

Payment Tablets for Dispensaries

Klamka has provided his three medical marijuana dispensaries with bitcoin payment tablets to facilitate bitcoin transactions.

says Klamka, who calls his bitcoin payment system “bitMD.” As the name of his service indicates, he

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https://www.cryptocoinsnews.com/bitcoin-finds-niche-medical-marijuana-dispensaries/

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