Crypto is gradually taking over as the primary form of payment for products and services across the world. In spite of fears that cryptocurrencies could be used for nefarious activities, they have proven to be a resilient and stable form of payment. This makes them an ideal medium for businesses operating in states that have legalized cannabis or other regulated substances. Smoakland is one such business, and they are using crypto to their advantage by enabling their customers to pay by credit card. By doing this, they are able to bypass some of the inherent limitations related to cash-only transactions, which can be problematic both for consumers and businesses operating in a world where cryptocurrency is growing in popularity.
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Cryptocurrency is revolutionizing the way we pay for goods and services. With Crypto, users can purchase products and services without having to worry about their credit card company tracking what they are purchasing. At Smoakland, we use the latest in cryptography technology to ensure that our customers’ blockchain transactions are completely anonymous.
Creating a blaze of convenient glory is the goal for Smoakland, as its customers are willing to pay a bit more in processing costs in order to get their hands on some of the highest quality cannabis around. Although this may be a higher-risk market, Smoakland believes that its customers are willing to take that risk in order to receive the best possible product.
Pornography has always been controversial, with many people advocating for its outlawing while others find it to be a form of entertainment. However, the stigma attached to pornography is slowly starting to change, thanks in part to the growing use of digital platforms. For example, Pornhub is estimated to be worth some $8 billion USD, and according to Dillon Jacksikore, co-founder of Brazzers , e-commerce accounts for two percent of the company’s total revenue. If Brazzers were to open an online porn site featuring cryptocurrency payments as one of its main funding options, it could see its revenue skyrocket by tens or even hundreds of percent. As such, Dillon estimates that opening a high risk online pornography business is something that Brazzers would be extremely interested in doing.
The Smoakland team insists that it employs the best payment processor in the world, and would never work with a company that wasn’t up to par. Rumors abound as to who this mysterious partner is, but the team remains tight-lipped about specifics.
The cannabis industry is currently growing rapidly, but there are still many people that are not familiar with it. One way to try and entice more people to try this new and exciting industry might be to offer them credit cards. This could help customers get the products they need without having to worry about paying back their debt later on.
Many people are experiencing a cash crunch, and it seems that the trend is for order sizes to decrease as people have less money to spend. Dilon believes that this may be due to the fact that people get paid on the 15th of each month, which means they have less money to spend during the first and fifteenth of those months. Considering their 4/20 launch as an attempt to target this market, credit cards would seem like a perfect solution for these consumers who want the convenience of being able to purchase products with their card but don’t want to overspend.
As marijuana becomes increasingly legalized in many states, it is likely that the price of this much-criticized product will decrease. This could be a opportunity for some companies, such as Smoakland, to capture a larger share of the market.
Lane Kalleinen, co-founder and CMO of Bay Area-based cannabis company Eaze Inc., believes the grass is indeed greener on the other side when it comes to pot pricing.
“In Oakland, you see our billboards and banners around,” says Dillon, comparing his company with Fred Franzia’s Two-Buck Chuck wine selling out of Trader Joe’s. “Franzia went to Paris and realized there’s great wine sold at normal prices.” Lane Kalleinen, co-founder and CMO of Bay Area based cannabis company Eaze Inc., believes the grass is indeed greener on the other side when it comes to pot pricing.”
The payment processor, Smoakland, is stressed in the midst of a complicated set of pressures on financial institutions. However, the company is not overly worried and suggests that the SAFE banking act is putting its thumb on the scales in their favor.