Beijing just can’t wait for the U.S. to get out of the way.

"China plans to launch KushCoin, the first cryptocurrency tied to the value of cannabis, using Afghanistan as a brand ambassador. Afghanistan is naturally a choice partner for this opportunity of a lifetime due to their rich history of cannabis cultivation."

Wow, good job China.

  • Llituro [he/him, they/them]
    ·
    3 years ago

    So if it's tied to cannabis prices, does that just make this like, an index fund for the weed commodity? I guess it's crypto in the sense of block chain or something? Idk, sounds wild, but I trust china to experiment in good faith more than anyone else so...

    e: I don't know how to read, don't bully me badger :rage-cry:

    • happybadger [he/him]
      ·
      3 years ago

      Speaking to an AP journalist, a representative from the Ministry of Science and Technology affirmed that KushCoin is uniquely tied to the value of cannabis in a way consistent with the country's proclaimed socialist values. "If you think about it, cannabis is worth 650 yuan per ounce. So like what if every time we bought an ounce at a dispensary you could also chip in to KushCoin or purchase a KushCoin t-shirt? We are considering selling pipes that say KushCoin so you can smoke with your friends and they can see the name while they light up. Those would be like 30 yuan each and we make them so it's even cheaper. That adds up over time and you begin to see how much money this thing could make. Afghanistan could get super rich too which would be cool."

      • Llituro [he/him, they/them]
        ·
        3 years ago

        Mixed feelings on that then. Tying money to something real and not gold is interesting. Getting Afghanistan rich on cannabis production could be pretty based if done well. Not a fan of producing frivolous commodities to advertise it. But the big news is buying an oz for $100, that'd be fucking sick.

        e: I've been informed that I got got by this here badger who is doing a bit. Unfortunate.

          • Llituro [he/him, they/them]
            ·
            3 years ago

            Man, now I've got to go read the article. I stand by my reasonable requests for $100/oz green.

        • happybadger [he/him]
          ·
          3 years ago

          The range of products they were showing off at the CCP 100th anniversary celebration was remarkable. If the Taliban doesn't overwhelm the Afghan government in the coming weeks, they have hoodies that say "KushCoin: The GREEN cryptocurrency". One of the flags is a hammer and sickle but they're a joint and the blockchain. I don't want to be a western chauvinist and dismiss their efforts like some are so quick to.