Telegrass Has Big Announcement
Telegrass, Israel’s largest community-based cannabis marketplace, announced that it will start accepting payments in Bitcoin. The company recently took to social media to announce to its 100,000 members that it will be offering discounts on all payments made in Bitcoin.
Telegrass Promotes Legalization
Telegrass claims that it is committed to the legalization of cannabis in Israel. The community has a telegram network which connects buyers to sellers, enables merchants to list their products and expand their market.
The community will use the money raised with Bitcoin to pay staff as well as advocate for legalization. Initially its staff work as volunteers. Additionally, for a long time, the community has been a target of police action on its activities. The police accused the community of indirectly aiding criminal activities.through the illegal harboring of illegal buyers and sellers. Additionally, it has been accused of offering verification methods that criminals use to evade police.
Telegrass Bets on Cannabis Adoption
Israel’s recreational cannabis market grows at a slow pace as marijuana use in Israel is still a crime. The country is taking steps to decriminalize the sector. However, progess has been slow. Elsewhere, the cannabis market has been growing exponentially. Several American states passed laws that permit the medicinal or recreational use of cannabis. “Canna Tech” startups and agricultural companies established operations to meet growing demand. Consequently, the sector has seen an increase in the number of Israeli investors.
Finally, Telegrass knows that cannabis stocks have had impressive performances – similar to Bitcoin. In historical terms, the two sectors have experienced some of the markets largest annual gains. Perhaps the Israeli company that best represents the two sectors is Fantasy Network, which trades on the Tel Aviv Stock Exchange alongside Telegrass. Fantasy Network entered the blockchain sector but ended up in the cannabis sector.