{"id":2584,"date":"2022-03-05T17:16:02","date_gmt":"2022-03-05T17:16:02","guid":{"rendered":"http:\/\/smart.onlinesarafi.com\/index.php\/2022\/03\/05\/greenmed-whitepaper\/"},"modified":"2022-03-05T17:16:02","modified_gmt":"2022-03-05T17:16:02","slug":"greenmed-whitepaper","status":"publish","type":"post","link":"https:\/\/smart.onlinesarafi.com\/index.php\/2022\/03\/05\/greenmed-whitepaper\/","title":{"rendered":"GreenMed Whitepaper"},"content":{"rendered":"<div id=\"post-1837\">\n<div class=\"entry-content\" readability=\"59.914038657172\">\n<p>Abstract<\/p>\n<p>Our mission<br \/>Our mission is to provide electronic and credit card payments for the medical marijuana industry.<br \/>\u201cMedical marijuana sales are projected to grow from $4.7 billion in 2016 to $13.3 billion in 2020\u201d [1]<br \/>With twenty-eight states where medical marijuana is now legal, and eight others where recreational<br \/>marijuana is also legal, customers are still unable to make purchases without first making a trip to an<br \/>ATM.<\/p>\n<p>Due to federal regulations medical marijuana companies are unable to process electronic payments or<br \/>use traditional banking. They are forced to only accept cash payments. \u201c[\u2026] An estimated 70% of medical<br \/>marijuana companies do not have bank accounts.\u201d [2]<\/p>\n<p>This excludes many consumers who often do not carry cash and instead prefer to pay for purchases<br \/>with the swipe of a card or the wave of their phone.<\/p>\n<p>As cash-only operations, the legal marijuana industry is every day losing out on potential new business<br \/>transactions and revenues from the card-paying public. Also the legal marijuana businesses face greater<br \/>security risks and the excessive costs of constructing highly secure facilities and providing round the<br \/>clock surveillance and protecting merchandise and assets. This is an unsustainable burden particularly if<br \/>the industry is to remain competitive and profitable in the long run.<\/p>\n<p>Banks will however work with a cryptocurrency token company. As a company we use cryptocurrency<br \/>token purchases to facilitate debit card, credit card, and EFT transactions between customers and<br \/>dispensaries. We process all USD based transactions and allow dispensaries to accept traditional fiat<br \/>payments. Whenever a customer is initiating a purchase with a credit or debit card, GreenMed<br \/>processes the transaction as a token sale. The GreenMed app then transfers the token to the<br \/>merchant\u2019s wallet, and then converts it to USD to finally end-up in a bank account or the GreenMed<br \/>debit card.<\/p>\n<p> <a href=\"https:\/\/web.archive.org\/web\/20191002084644\/https:\/\/www.greenmed.io\/\" rel=\"noopener noreferrer\"> GreenMed Website<\/a> <br \/><a href=\"https:\/\/web.archive.org\/web\/20191002084644\/https:\/\/www.greenmed.io\/\"> GreenMed Whitepaper <\/a> <strong><\/strong><\/p>\n<p>Social<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Abstract Our missionOur mission is to provide electronic and credit card payments for the medical marijuana industry.\u201cMedical marijuana sales are projected to grow from $4.7 billion in 2016 to $13.3 billion in 2020\u201d [1]With twenty-eight states where medical marijuana is now legal, and eight others where recreationalmarijuana is also legal, customers are still unable to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2584","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/2584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/comments?post=2584"}],"version-history":[{"count":1,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/2584\/revisions"}],"predecessor-version":[{"id":2585,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/2584\/revisions\/2585"}],"wp:attachment":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/media?parent=2584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/categories?post=2584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/tags?post=2584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}