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Letter to the Community

August 26, 2018

Dear HempCoin Community,

While other projects in cryptocurrency have struggled over the past year, HempCoin has marked this calendar year with many accomplishments. We reached a market capitalization of $170 million in January. HempCoin entered the Top 100 of CoinMarketCap and we are the leading digital currency in our chosen industry. HempCoin weathered the boom and bust cycle better than most.

We have seen this before. As you know, HempCoin was established in 2014 and we have witnessed every bull run and bear market since. Our longevity is what makes us strong, but we wanted to take the time to let you know we are focusing all of our efforts on the future of HempCoin.

There are a number of theories floating around the crypto-verse about how exactly mass adoption will happen. While the general ideas are promising, what they lack is specificity. One strategy may work for some but not for others. Each project needs to take the time to design a custom, detailed plan in order to be successful.

Mass Adoption

HempCoin has been developing such a plan for the past few months. As our coin name suggests, we focus on a very concentrated niche of industries; hemp, hemp farming, agriculture, indoor grows, legal medicinal and recreational cannabis, and tobacco.

HempCoin’s hyper-focus on these select industries is not a drawback however, but a great advantage. With thousands of cryptocurrencies in existence, specialization will be the key to success for each and every one of them. Here at HempCoin we feel like we have a head-start over everyone else.

While other projects focus on inter-crypto partnerships and new technology to bring value to their coins, HempCoin is taking a different approach; a recommitment to our original vision. As technology has grown around us, real-world integration of cryptocurrency payment options are primed for take off.

The cannabis industry by its very nature is inclusive, passionate, and open-minded. Because of this, we believe our chosen industry is ideal for the real-world application of HempCoin as a payment option. We will accomplish mainstream adoption of HempCoin by focusing on these three objectives:

  • Empower partners and merchants to accept HempCoin (THC)
  • Educate consumers on how to purchase, exchange, and use cryptocurrency
  • Encourage HempCoin (THC) payment integration by providing open-source applications to the development community

Empower Partners and Merchants

In cryptocurrency, partnerships tend to produce nice announcements, a photo opportunity, and not much else. A few projects are notorious for their endless partnerships producing nothing in the way of increased value for their investors.

HempCoin is focused on real growth and legitimate, actionable partnerships. We are only focused on symbiotic relationships where both parties benefit, including increased investment value and a healthier bottom line. Providing merchants with training and knowledge, as well as customers with incentives to use THC, both parties will experience real, sustainable growth.

Educate Consumers

Adoption of cryptocurrency on a large scale does not simply require a good product. There is so much more that is required for such a cultural revolution. HempCoin will focus on promoting THC to consumers, by educating them about cryptocurrency in general. New users’ familiarity with HempCoin is predicated by their knowledge of digital currency.

We will be launching several pages on our website in the coming months focused on educating newcomers on all things HempCoin and cryptocurrency. This will include written and video tutorials ranging from ‘how to buy crypto with debit/credit cards’ to ‘how to use THC to pay for your purchase at your local dispensary’. We will cover every phase of the process to ensure our users remain confident.

Encourage Payment Integration

The end goal for HempCoin is that someday every store, shop, and dispensary in the world allows their customers to use THC to buy their products. This goal is only achievable with the help of third-party developers stepping up and contributing to the HempCoin project.

Having open-source applications will promote the growth of the platform and result in real-world progress being made on having payment integration become a reality. By collaborating with developers around the world, HempCoin will build the network that will make mainstream adoption a reality.

The most important part of this entire strategy is you, the investor. All the work we do would not be possible without the large, passionate community that we have built over the past four years. Our work is never finished while we forge a new path towards continued growth and acceptance of cryptocurrency and HempCoin into the real world.

Thank you for your continued support,

The HempCoin Team