We’ve never mentioned GLOBAL PAYOUT INC COM USD0.01(OTCMKTS:GOHE) on Street Register before. The company is the developer of what it refers to as a “state-of-the-art FINTECH payment system, designed for both online and mobile applications to allow account holders to maximize an expanded suite of financial services and minimize operational costs.”
The thing that really interests us about GOHE at the moment, is that the company has made clear its intent to use its payment system to provide solutions to the cannabis industry through its majority owned subsidiary, MoneyTrac Technology, Inc. (MTRAC).
GLOBAL PAYOUT INC COM USD0.01(OTCMKTS:GOHE) recently announce that its. MTRAC has continued to make significant headway with Pegasus Fintech, Inc. on their collaboration in the development of a cryptocurrency token for the cannabis industry.
Last month, MTRAC announced the establishment of a strategic partnership with Pegasus Fintech, Inc., an innovative Blockchain and Token Accelerator company that is focused on delivering solutions in the financial services, technology blockchain, and emerging cryptocurrency market sectors. In recent weeks, MTRAC and Pegasus, along with additional companies they are currently working in collaboration with, have been working on the development of a token that will be aimed at revolutionizing the financial process that currently exists within the cannabis industry.
Coupled with blockchain technology, the token will not only provide businesses that are operating in the emerging cannabis industry with the most effective option for transaction processing, but will also create a level of effective transparency in an industry where the ability to track transactions from seed-to-sale is critical from a compliance perspective.
“Our vision is to create a fully intuitive financial network that interlocks the entire cannabis supply chain from seed-to-sale,” said MTRAC COO, Vanessa Luna. “This token will do far more than just optimize the way businesses and consumers are able to process and complete basic transactions, but will create the kind of transparency that will deliver consumer safety and ensure regulatory requirements across a rapidly growing industry by making it possible to track every transaction from start to finish,” Ms. Luna commented further.
MTRAC and Pegasus will remain focused in coming weeks on completing all the necessary due diligence required to bring the development of their token to fruition so that it meets the requirements for the launch of their anticipated regulatory compliant token offering, known as a Public Initial Blockchain Offering (PIBCO).
We’ve been interested in the potential for alternative payment solutions for the cannabis industry for quite some time, and are really eager to see if and when GOHE contributes to the story. It’s a relatively little-explored space, primarily because of the young age of the cannabis industry itself, combined with the challenges of dealing with a substance that is perfectly legal in several states, yet still criminally banned at the federal level.
We’ve been harping on this topic on Street Register for a very long time. Various interests in Washington have waged a long and drawn out war on marijuana for the damage it can do to the pharmaceutical, as well as alcohol and tobacco industries. At present, the current administration has installed Jeff Sessions, an outspoken cannabis detractor and friend to big pharma, as head of the Department of Justice. It puts the cannabis industry in a state of limbo, and impedes the progress of a burgeoning sector, but it also creates a real need for what GOHE is trying to do with MTRAC. We’ll be sure to follow the story closely. Stay locked to Street Register for updates, and we’ll deliver important developments on GOHE as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in GOHE stock, short or long.