Introducing Swissx Coin: A New Cryptocurrency for the Global Cannabis Industry
Switzerland-based Swissx Bank of Cannabis has launched Swissx Coin – an innovative new cryptocurrency designed to facilitate legal cannabis-related financial transactions.
Swissx Coin (SWISSX)
Swissx Coin is an alt-coin – based on Bitcoin – whose single unit pricing is pegged directly to the average global price of a single pound of Industrial hemp.
This new cryptocurrency is initially backed by $250MM ($250,000,000) in cash and $25MM (25,000,000) depository of premium quality hemp seeds and will be used to handle transactions with Swissx’s vast network of cooperative of hemp farmers.
The Swissx Bank of Cannabis has also underwritten “The Farmer’s Wallet” – a crypto-wallet for Swissx Coin blockchain, which Swissx uses to pay Hemp famers for their harvest as promised in the Swissx Hemp Farmer’s Cooperative.
How it works
Farmers around the World are given free seeds by Swissx for the growing of proprietary Industrial Hemp crops.
Farmers sell all their hemp stock back to Swissx at a discounted price of 50% of average global market values.
At each harvest throughout the year Farmers are paid in Swissx Coins from the Farmer’s Wallet which they can then redeem for cash by visiting the bank’s Vaults in Switzerland or Antigua.
In time, Cooperative members may also buy, sell or trade surplus hemp produce to third party buyers using Swissx Coins (purchased via merchant processing) on Swissx's global Cannabis Trade Exchange (coming soon!).