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MotaCoin was created to alleviate the financial burden on cannabis friendly businesses and medical marijuana dispensaries, due to regulations banks are unable to provide banking and digital payment processing services. This creates a very inconvenience and frankly dangerous situation on the ground for otherwise upstanding people and entrepreneurs.
MotaCoin addresses that by creating a digital payment platform which improves upon Bitcoin by allowing both staking, and consequently instant transactions. Due to the Proof of Stake aspect of MotaCoin, it has allowed for virtually non-existent transaction fees since the miners are not relying on transaction fees but rather they are staking their coins and do not need miner fees.
MotaCoin also is leading the charge in real world use cases, by tackling big problems with big solutions. We currently have three dispensaries in Maine accepting MotaCoin as payment, with our biggest dispensary hosting the aptly named Mota Cup! The Mota Cup is a three day cannabis competition in which the winners, participants, judges and VIPs all receive some MOTA via our paper wallets!