MrJones is one of the three founders of PotCoin, which launched earlier this year. They have so far kept their identities secret, but they are developers who claim to have nationally recognized startups under their belts. They’re planning to unmask themselves at a cryptocurrency convention in April.
'I guess anyone with an MBA and a love for crypto could have seen the opportunity, …This is an industry stigmatized unjustly for too long, first by lawmakers way back, now by bankers…Our business model is woven into the fabric of the loyal community, the commodity at large and the industry under attack.’
PotCoin works similarly to bitcoin, the most popular digital currency. Someone interested in buying or selling marijuana starts by downloading an online “wallet.” There are then three ways to fill that wallet with PotCoins: People can pay you with the currency, you can purchase it on an exchange using bitcoin or US dollars, or you can ‘mine’ new PotCoins (a complicated process that is described in more detail here). The current exchange rate for PotCoin, as of March 24, is about .00179 PotCoins per $1. The transaction fee for using PotCoins is negligible, and MrJones claims that PotCoin’stransaction time is considerably faster than bitcoin’s. (A bitcoin purchase can take up to an hour to process.) The goal, he says, is for PotCoin to be as easy to use as swiping a credit card.”
Enter the PotCoin | MoJo