Israeli based cannabis marketplace, Telegrass, has announced that they will begin allowing bitcoin payments.
Bitcoin is a form of electronic cash that transfers digital currency without a central bank or single administrator.
The announcement, which was made via social media, also explained that the company will begin charging sellers for some services.
Sellers will be able to promote their stock in one state for free, but they will have to pay to extend their range to other states.
The funds accumulated from the bitcoin transactions will go towards the paying of the staff, who have been working on a volunteer basis. It will also go towards promoting further public legalization efforts.
Telegrass is the largest cannabis community market in Israel and it promotes the legalization of recreational cannabis use in Israel on a network that connects buyers and sellers. It currently has more than 100,000 members.
Although recreational cannabis is going through snail pace decriminalization process, the cannabis market continues to grow. Israel is the home to many agricultural companies who have broadened their horizons by supplying pharmacies around the world with medical marijuana.[share-btn]