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Two fresh altcoins have arrived at the scene. While being related in wider terms, PotCoin and DopeCoin are different technologically and, what is more important, ideologically.
Two fresh altcoins have arrived at thescene. While being related in wider terms, PotCoinand DopeCoin are differenttechnologically and, what is more important, ideologically.
The PotCoin is designed to be used astrading medium for legal marijuana. Be it recreational or medical,as long as it is not in direct violation of the law, PotCoin is the way to go.
The developers of this coin are reallyambitious about what they are doing as they anticipate it will be accepted notonly in the US, where 20 states have legalized cannabis for medical use (Washington and Colorado legalized recreational use as well), but also inplaces like Amsterdam, which is famous for its coffeeshops.
For PotCoin to be transparent enough todiscourage people from using it to buy or sell illegal drugs, developers aremaking a database for the community of cannabis sellers to allow tying buyersto accounts. This should lower the anonymity of the customer and therefore denythem opportunity to use PotCoin for shady dealings.
However, the creators of the “legal” drugcoin do not have any illusions regarding the possible use of theircryptocurrency but in case of misuse, their cooperation (in their own words)will be swift.
Now this particular digital coin holds nopreference over either legal or illegal sides of drug trade. This position putsDopeCoin above its competitors oriented on the legal pot market, as believed byit developer, who is known only as “Dopey."
The most interesting thing about DopeCoin is coinmixing technology that would allow users to automatically mix coins with otherusers, making the blockchain impossible to comprehend and therefore track asingle wallet.
This opens new doors for money launderingand not just for marijuana. Any kind of illegal stuff can be bought withDopeCoin. I bet Silk Road owner wished the thing like this existed before hisbusiness got under the scopeof Federals.
“We’re the bad boys of cryptocurrency,”Dopey claimed in an interview. Although DopeCoin seems to be designed forillegal use, the developer says that he would never advocate any illegalactivity concerning his coin.
Overall, both currencies are interesting ina way that they will be covering a gigantic market. Especially DopeCoin withits specialization in privacy and disregard for the possibility of violating thelaw. Well, whatever the outcome will be, let’s just hope that both coins willnot lead their developers towards the same fate that RossUlbricht suffered.
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