Another currency that came into being in 2014, but just a few months after PotCoin was CannabisCoin. It is a proof-of-work, peer-to-peer open source currency and like Potcoin was aimed at easing transactions for medical marijuana dispensaries. While it initially gained popularity, it has generally failed to deliver much for investors.
Focusing on its market, CannabisCoin has proposition to convert cryptocurrency directly into marijuana. Under the name ‘CANNdy’ there is a line of medicines and marijuana strains grown of the specific purpose of exchange at the rate of 1 CannabisCoin to 1 gram of medication.
The total supply of CannabisCoin is set at 91.8 million, with over 77 million currently in circulation. The currency has a market cap of $5.2 million, according to coinmarketcap.com.