Even before Bitcoin received any recognition by regulatory bodies, it became an unstoppable revolution. It is disrupting the way we do transactions today. Breaking the traditional barriers of more controlled money transactions, Bitcoin gave its users a new found freedom. While some audience found the newfound freedom as a way to create new assets, a part of the audience used Bitcoins for money laundering and more such uncensored transactions as Bitcoins keeps the users anonymous. Largest Cannabis Community in Israel to accept Bitcoin payment is another step closer to such transactions finding Bitcoin usable.
As Telegrass the largest Israeli Cannabis community announced the acceptance of Bitcoins, waves of excitement went through the 100,000 members of the community. While they made this announcement on Social Media, Telegrass made this attempt to offer anonymity to both dealers and buyers on its platform.
Telegrass requires buyers and seller to connect over telegram by disclosing their ID number and a short video before they sign up for the services. Telegrass is also offering discounts on purchase of cannabis with the new step of Telegrass platform of Israel to accept Bitcoin payments. It is a closed community in Israel working on the legalization of buying and selling of cannabis only for recreational purposes and is primarily run by volunteers.
After the 21st March incident where an undercover agent busted 40 pot dealers, Telegrass has been more concerned about the anonymity of the buyers and sellers. Telegrass of Israel to accept payments is a good move towards security and the Bitcoin raised will be used to pay the volunteers who act as the staff of Telegrass.
As the legal cannabis markets are growing on contrary Israel’s cannabis market is slowing down due to running into legal issues. Israel’s cannabis community is moving towards approaching the more legitimate ways of dealing in cannabis like medical marijuana.