Irish hemp growers see green with online currency

GREENHEART CBD, an Irish hemp-growing and technology company, has partnered with a Canadian firm to launch a legal cannabis and hemp-focused online currency.

The business, which previously featured in the Sunday Independent’s ‘30 Under

30’ list, is set to launch its cryptocurrency Cannabium in April. Greenheart, which was co-founded by Paul Walsh and Mark Canavan, has partnered with Canadian cryptocurrency firm Tokenopoly.

Speaking to Ergo, Walsh said the business had put 2,000 litres of its own-branded CBD to back the blockchain-based currency. He hopes it will become the preferred means of payment for all online cannabis transactions, and that it will help businesses reduce online payment processing fees across the globe.

Before launch, each token is hoped to have a value of $0.08 (€0.07).