NetworkNewsWire Editorial Coverage: Bitcoin is rapidly being
adopted and accepted as a valid form of payment, with major
retailers like Overstock.com, Microsoft and Subway1
among several U.S. companies that now accept digital currency – or
cryptocurrency – as a form of payment. Japan adopted bitcoin as an
official currency in April 2017, which has been a major step
forward for this cryptocurrency on a global scale. Savvy companies
are rushing to profit from the growing acceptance of bitcoin,
whether by aiding further accessibility or by applying digital
currency as a payment solution for high-risk industries that are
considered “unbankable.” Standouts in the bitcoin rush include
ChineseInvestors.com, Inc. (CIIX
Profile), SinglePoint, Inc.
(SING), Bitcoin Investment Trust (GBTC),
BTCS, Inc. (BTCS) and Bitcoin Services,
Inc. (BTSC).
One of the major attractions of bitcoin is that it facilitates
the transfer of funds independent of banks and, therefore, cannot
be regulated by governments. This is a major boon for industries
like the rapidly growing legalized marijuana market, which is
currently hobbled by federal restrictions in the U.S. that deprive
it of FDIC approval and cooperation from banks. The majority of
U.S. cannabis businesses have been forced to conduct cash
transactions, which has been a serious hindrance, but the advent of
bitcoin payment solutions could change everything.
One company making a bold foray into bitcoin as a solution for
cannabis enterprises is ChineseInvestors.com
(CIIX). A leading financial information website for
Chinese-speaking investors, CIIX recently announced (http://nnw.fm/w3pbB) that Chinesehempoil.com Inc., its
wholly-owned subsidiary, will now accept bitcoin payments. This
will allow purchasers of hemp-based health products, foods and
beverages, to use bitcoin alongside other, more common methods of
online payment such as credit cards and PayPal.
CIIX is focused on becoming the leading publicly traded Chinese
medical marijuana company. As part of this mission, the company is
engaged in investing in the distribution and R&D of
cannabidiol-based (CBD) medicines and health products to
Chinese-speaking consumers across the globe. While marijuana use is
currently illegal in China, cannabis-based oils are legal, which
gives CIIX access to a market of nearly 2 billion customers in
China. The company is also expanding its business presence to other
countries and recently incorporated CBD Biotechnology, Inc. in
British Columbia, Canada, to focus on R&D and distribution of
health products, including hemp-based CBD, food and beverage items,
in that country.
Other recent milestones include the launch of
www.ChineseCBDoil.com in the free-trade zone of Shanghai. The first
CBD health products online store to launch in the Chinese language,
ChineseCBDoil.com went live on January 31, 2017. Concurrent with
the website’s launch, CIIX debuted a Yelp-style social media app -
the first Chinese language app of its kind - which features a
database of cannabis dispensaries and marijuana strains. The app
features a platform for reviewing and discussing cannabis products,
maps showing the locations of marijuana dispensaries, and summary
reports of marijuana business in Los Angeles and other major
cities. The app has received approval from the Apple store.
Another company endeavoring to offer bitcoin as a payment
solution for the cannabis industry is SinglePoint
(SING). SinglePoint recently joined forces with First
Bitcoin Capital Corp. (BITCF) to develop a proprietary bitcoin
payment solution that can be downloaded directly to any
point-of-sale machine, enabling marijuana dispensaries and other
cannabis businesses to accept debit and credit card payments.
SinglePoint believes it has found a means of applying bitcoin
technology in a way that will make the credit/debit card payment
experience seamless for customers at cannabis dispensaries.
SinglePoint has already successfully completed technology
integrations with companies like Twilio, RedFynn and IATS, as well
as with major carriers like Verizon, AT&T, T-Mobile and Sprint,
and intends to utilize these integrations in developing its bitcoin
payments technology.
Other publicly traded companies tuned into the pioneering
opportunities associated with bitcoin technology are fueling its
widespread adoption. Digital currency play Bitcoin
Investment Trust (GBTC) was recently named to OTC Markets
Group’s “OTCQX Best 50” for 2017. GBTC is a U.S.-based, open-ended
grantor trust sponsored by Grayscale Investments that is
exclusively invested in bitcoin. The company’s shares are the very
first publicly quoted securities solely invested in and deriving
value from the price of bitcoin, enabling investors to gain
exposure to bitcoin’s price movement through a traditional
investment vehicle and avoid the challenges of buying, storing and
safekeeping bitcoins.
BTCS (BTCS) is an early mover in the blockchain
and digital currency ecosystems and has been recognized as the
United States’ first “pure play” public company to focus on
blockchain technologies, which are the technologies that underpin
bitcoin digital currency.
Bitcoin Services (BTSC) is another company
helping to further the common acceptance of bitcoin currency. BTSC
offers a bitcoin escrow service, which acts as a neutral third
party between buyers and sellers in online transactions, holding
the buyer’s bitcoins until both parties are satisfied with the
transaction. Additionally, BTCS offers bitcoin mining services and
blockchain software development.
As bitcoin gains ground as a valid and accepted form of
currency, benefitting from high demand for convenient digital
payment capabilities, savvy investors will do well to take note and
look to enterprises like the named companies, which are at the
forefront of this burgeoning digital currency.
Editorial Sources:
(1) http://nnw.fm/u8wlB
For more information on ChineseInvestors.com please visit:
ChineseInvestors.com (CIIX) or www.ChineseInvestors.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides to
users (1) access to our news aggregation and syndication servers,
(2) enhanced press release services, and (3) a full array of social
communication solutions. As a multifaceted financial news and
content distribution company with an extensive team of contributing
journalists and writers, NNW is uniquely positioned to best serve
private and public companies that desire to reach a wide audience
of investors, consumers, journalists and the general public. NNW
has an ever-growing distribution network of more than 5,000 key
syndication outlets across the country. By cutting through the
overload of information in today's market, NNW brings its clients
unparalleled visibility, recognition and brand awareness. NNW is
where news, content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the
NetworkNewsWire website applicable to all content provided by NNW,
wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article
and content set forth above. References to any issuer other than
the profiled issuer are intended solely to identify industry
participants and do not constitute an endorsement of any issuer and
do not constitute a comparison to the profiled issuer. The
commentary, views and opinions expressed in this release by NNW are
solely those of NNW. Readers of this Article and content agree that
they cannot and will not seek to hold liable NNW for any investment
decisions by their readers or subscribers. NNW are a news
dissemination and financial marketing solutions provider and are
NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy
any security.
The Article and content related to the profiled company
represent the personal and subjective views of the Author, and are
subject to change at any time without notice. The information
provided in the Article and the content has been obtained from
sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all
such information. None of the Author, NNW, or any of their
respective affiliates, guarantee the accuracy or completeness of
any such information. This Article and content are not, and should
not be regarded as investment advice or as a recommendation
regarding any particular security or course of action; readers are
strongly urged to speak with their own investment advisor and
review all of the profiled issuer's filings made with the
Securities and Exchange Commission before making any investment
decisions and should understand the risks associated with an
investment in the profiled issuer's securities, including, but not
limited to, the complete loss of your investment.
NNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may", "future", "plan" or "planned", "will" or "should",
"expected," "anticipates", "draft", "eventually" or "projected".
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company's annual report on Form 10-K or 10-KSB and
other filings made by such company with the Securities and Exchange
Commission. You should consider these factors in evaluating the
forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this
release are made as of the date hereof and NNW undertake no
obligation to update such statements.
Source:
NetworkNewsWire
Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com