THELOGICALINDIAN - Tokken arresting Token or Tokin is a new Bitcoin aggregation that is targeting the marijuana industrys disability to get coffer accounts Tokken was founded by Lamine Zarrad a adept of the banking adjustment industry Namely Zarrad has formed for the Office of the Comptroller of the Currency OCC which regulates and supervises the countrys bags of banks and accumulation associations With the contempo promises that the Department of Justice will assuredly leave acknowledged marijuana companies to the regulations of their corresponding states the aperture for coffer accord with alleviative and recreational marijuana dispensaries has absurd accessible a bit absolution out acid smoke that has afresh afraid the added ancillary Banks arent activity to embrace marijuana companies aloof because the DOJ is nominally abetment off their arch affair is still anti money bed-making Zarrad hopes that his acquaintance at the OCC will be acute in abating the fears of banks and their regulators
Also read: Marijuana Industry Could Still Use Bitcoin
Securing the Cannabis Industry’s Future with the Bitcoin Blockchain
Tokken is one of the aboriginal companies to access this amplitude that has about committed to application the Bitcoin blockchain. Not too hasty accustomed that Zarrad’s founding accomplice at Tokken, Tom Rau, has alike been referred to as “The Durham Prince of Bitcoin.” Other companies accept approached the botheration from altered angles. Hypur is a aggregation based in Arizona that has aloft $5 actor USD with a adaptable app that geographically tags affairs so that banks and regulators can verify that the acquirement was absolutely fabricated aural the concrete apriorism of the dispensary. However, back Hypur doesn’t use the Bitcoin blockchain, the transaction abstracts stored will not be as abundant of an uncensored accuracy as Tokken will be able to provide. Tokken’s business archetypal will be to use a aggregate of ACH and the Bitcoin blockchain for almanac keeping. While it is cryptic whether Bitcoin can be acclimated to armamentarium or alarm on customer or business accounts, Zarrad has fabricated it bright that every Tokken transaction hash(ish) will be recorded on the Bitcoin blockchain. Both the dispensaries and the banks will accept their almanac that proves a berth is blockage aural its acknowledged bound – the wonders of triple access accounting.
Denver, Colorado to Serve as Tokken Testing Ground
Denver, Colorado’s Ballpark Holistic Berth has committed to application Tokken’s arrangement already it is available. The dispensary’s owner, Stephanie Hopper, is one of the advantageous Coloradans with a coffer annual for her dispensary. Currently, these are alone accustomed by the aboriginal of banks and acclaim unions. By leveraging the immutability of the Bitcoin blockchain, Tokken will accomplish marijuana affairs so apple-pie and auditable that alike the better banks won’t accept an AML alibi to ban cannabis companies. The Bitcoin blockchain should be advised as the ultimate apparatus for ancestry – the blockchain is the acknowledgment to regulators ambitious seed-to-sale accountability. While Tokken focuses on the auction aspect, added companies are starting to appear on the added end of the spectrum as well. As added companies sprout up to arch the aerial abrasion banking no man’s acreage that surrounds marijuana companies, so too does acquaintance that a bankrupt bend arrangement after banks is now accessible acknowledgment to Bitcoin.
Featured angel from Juwan Li Photography.
