People’s Remedy, a growing chain of cannabis stores, has started accepting cryptocurrencies as a payment method, allowing their customers to use them as a fast, easy way of getting their products while taking advantage of the traits cryptocurrencies bring to the table. Unlike other stores, People’s Remedy assumes this symbiotic relationship between cannabis and crypto as a commitment, wanting to build a circular economy by paying its employees with crypto assets.
People’s Remedy Starts Accepting Cryptocurrencies as Payment
People’s Remedy, a California-based cannabis chain of dispensaries, has started taking cryptocurrencies as payment methods, allowing their customers to leverage the power of crypto to acquire their products with the benefits of privacy and anonymity coming with it. With four stores in California, and still growing, People’s Remedy products are designed specially to help those with medical ailments that can be treated with cannabis, offering the bests strains and compounds available. However, is the interest in new technologies that sets the company apart from other similar stores.
The company trained each and every one of its employees in the use of cryptocurrencies, even making its own manual for this purpose, activating all of its twenty-two cash register terminals to accept bitcoin cash, dash, litecoin, bitcoin satoshi’s vision, and bitcoin core. However, they really like the Bitcoin Cash network due to its low fees, allowing customers to purchase products like a $4 preroll without worrying about paying more than the product’s price on fees.
John Williams, Tech Manager of People’s Remedy, stated that:
“Smart people use technology to make their lives better, and People’s Remedy does tech better than any cannabis business,”
Enabling a Circular Economy
People’s Remedy belief in cryptocurrencies doesn’t end there. While they do use Anypay, a third-party payment processor to take care of cryptocurrency payments, the store plans to keep the payments received in cryptocurrencies, as a vote of confidence in the longevity of these instruments. Williams stated in this regard they had absolute trust in this technology, vowing to hold as many of these coins as they can.
Derrick Horton, Anypay’s CEO, spoke to Bitcoin.com News and said this was one of the key motives that enticed them to work with People’s Remedy. Horton stated:
I knew it was a match right away because they actually want to keep the coins. Too many people contact us and ask to convert to fiat. BOOORING! We only want to work with people who want to keep and use the coins for business
People’s Remedy vision of the future includes paying its expenses and employees’ wages in Bitcoin Cash, so these can also use them to pay for their expenses, helping to create a circular economy where the cryptocurrency earned gets spent without turning into fiat currency, bringing adoption a step higher.
What do you think about People’s Choice adoption of cryptocurrencies as payment methods? Tell us in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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