Anonymous asked Alan Brochstein, 7/8/2018 10:30:41 PM
  • Investment, VC, PE Financing

This company promoting "CBD Coins" based on the blockchain looks sketchy. Do you know any of these people?

Also, they are currently raising money for an ICO. But in their whitepaper, they indicate "Therefore, we work exclusively with our trusted vendor Pharmahemp, who produces high quality CBD products under strict quality criteria, working hard to ensure our products remain free of pesticides, fertilisers and other impurities." Is this company Pharmahemp one that you know?   
1 Answer, 3 Replies
7/9/2018 5:26:24 AM,
Alan Brochstein replied:

No, I am not aware of this, and I concur with your skeptical view of the company.

7/14/2018 8:27:42 PM,
Steve Meister replied:

I would advise anyone desiring to operate in the legal cannabis space to avoid cryptocurrency altogether.  Optics, friends.  

7/15/2018 10:21:25 AM,
Jeremy Sellers replied:

I still wonder why anyone continues to promote bitcoins and block chain. My company specializes in taking secure electronic payments for the industry. We take all major forms of payment at the point of sale or online, and our existing customers are thrilled to use us. 

7/17/2018 1:24:08 PM,
Ashley Elsner replied:

Any financial product that claims not to need KYC is highly dubious.  Further, any financial product that doesn't have a securities/corporate lawyer on the senior team trained in either NYC or London in a silk stocking law firm or mega-investment bank, I personally would avoid.  The securities/corporate lawyers in NYC and London tend to be financial law experts.  It's a super complicated and specialized area of law really only practiced in financial center cities, NYC and London being the biggest and most stringent in regulation.  So if you are looking at a new asset class, i.e. crypto-currencies, that's whose legal opinion I would be comfortable relying on.  That's my quick check for fintech products.