NetworkNewsWire Announces Publication on the Potential of Bitcoin to Address Banking Concerns of Cannabis Industry

NEW YORK, NY--(Marketwired - Jun 8, 2017) - NetworkNewsWire ("NNW"), a multifaceted financial news and publishing company, today announces the publication of an editorial featuring SinglePoint, Inc. (OTC: SING), a client of NNW focused on strengthening its position in the marijuana industry through the acquisition of, or investment in, small to mid-sized cannabis companies.

The publication is entitled, "Bitcoin Currency Could Solve Banking Issues for Cannabis Industry." The article explains how a number of companies are already utilizing digital currency, and how SinglePoint's solution could expand this application to the marijuana industry.

To view the full publication, visit: https://www.networknewswire.com/bitcoin-currency-solve-banking-issues-cannabis-industry/

"Though some form of cannabis is now legal in 29 states and the District of Columbia, a lack of banking options for cannabis businesses in the United States continues to force marijuana merchants to rely solely on cash transactions. This inhibition has been a major obstacle for dispensaries and other cannabis-related businesses, but the use of bitcoin technology could be the key to overcoming the roadblock. SinglePoint, Inc. (SING) has announced an initiative to develop a bitcoin payment solution for the marijuana industry, providing a much-needed financial transaction option and allowing cannabis businesses to accept credit card payments without the cooperation of banks or the FDIC.

"As a financial transaction option for currently 'unbankable' cannabis businesses in the U.S., bitcoin could be the perfect solution. New Frontier projections have shown the cannabis industry reaching $24 billion by the year 2026, and such significant growth demands adequate payment options to keep pace.

"SinglePoint (SING) has partnered with First Bitcoin Capital Corp. (BITCF) (http://nnw.fm/d1ewJ) to create a proprietary bitcoin payment solution for the cannabis industry. ... The company's end goal is to provide a bitcoin payment solution that can be easily implemented in any point-of-sale machine through a simple application download. In collaboration with First Bitcoin Capital, SinglePoint will seek out and identify opportunities to apply its payment technology expertise to develop a proprietary solution for high-risk verticals like the cannabis industry."