Proactive Investors - Run By Investors For Investors

CryptoCann™ Report: Bitcoin added to Scrabble dictionary; Leafly ousts its CEO

Leafly, an online consumer guide to marijuana dispensaries, has ousted CEO Chris Jeffrey over concerns about his management
Bitcoin on Scrabble tiles
The sixth edition of Merriam-Webster’s Scrabble Dictionary now includes the word ”bitcoin”

The Crypto Report

It seems everyone wants a piece of blockchain technology with retail giants like Walmart Inc (NYSE:WMT) and tech titans like IBM Corp (NYSE:IBM) filing patents left and right.

Milk marketing cooperative Dairy Farmers of America is partnering with food and fintech tech start-up to develop a blockchain-based project targeting the food supply chain, according to a CoinTelegraph report.

READ: Coinbase exchange shakes up rules as it looks to boost cryptocurrency listings

“Consumers today want to know where their food comes from and blockchain technology, like, gives consumers real-time data, which can really help increase trust and confidence about food production from start to finish,” said David Darr, Vice President of Sustainability and Member Services at DFA, in a press release.

Walmart will implement a similar blockchain-based system to track its supply of leafy greens, according to a report by The New York Times.

There has been skepticism surrounding cryptocurrency since its inception, but the digital assets may have finally arrived.

The sixth edition of Merriam-Webster’s Scrabble Dictionary now includes ”bitcoin”, as per a CCN report.

A total of 300 words were added to the new edition, which has not been updated in the last four years.

The dictionary consulted with the North American Scrabble Players Association before introducing the word to its lexicon.

The Cann Report

Leafly, the consumer’s online guide to marijuana dispensaries, has ousted CEO Chris Jeffrey, according to a Marijuana Business Daily report.

Jeffrey, the founder of food delivery start-up OrderUp, was with the company for less than a year.

READ: Waiting to inhale? Cannabis stocks like Tilray are only going to go higher

Private equity firm Privateer Holdings acquired the cannabis-focused company in 2011.

The board replaced its CEO “after careful consideration due to concerns about his management of the company,” according to an emailed statement to the publication from Zack Huston, Privateer’s Vice President of Corporate Affairs.

The company is currently on the hunt for a new CEO.

A hemp farm in Vermont is suffering from a case of mistaken identity.

Humble Roots Horticulture has upped its security after multiple break-ins from thieves mistaking its hemp for cannabis.

While both hemp and marijuana are in the cannabis family, the farm is growing industrial hemp, which contains no THC, the high-inducing element.

Police have counted a total of six different break-ins and a total of 12 arrests have been made so far.

“It’s actually running into the hundreds and thousands of dollars in losses for this Farm, and each plant is worth a lot of money. And people are not only taking, but damaging the crop as they go in as well,” said Colchester Police Chief Doug Allen in an interview with local news WCAX.

Two hemp plants are worth around $900, which police warn constitutes grand larceny, a felony charge.

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here

Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use