President Donald Trump and Kim Jong-Un’s peace talks in Singapore may have never happened if not for retired NBA legend Dennis Rodman.
Before the Trump-Kim summit ended with the two leaders signing a document in agreement to rid the Korean peninsula of nuclear weapons, Dennis Rodman broke down in tears during a televised interview with CNN.
While wearing his ‘Make America Great Again’ hat, the former Chicago Bulls player said that the US President was proud of his work in enabling the historic meeting to occur with the North Korean leader and expressed his love for the country.
He was seen wearing t-shirt emblazoned with the PotCoin’s logo, website and the slogan ‘PEACE STARTS IN SINGAPORE, but what exactly is PotCoin?
What is PotCoin?
This isn’t the first time that Dennis Rodman has travelled internationally on PotCoin’s dime: his most recent visit to North Korea was also paid for by the virtual currency in 2017.
According to the PotCoin website, the company provides banking for the cannabis industry as an ‘ultra-secure digital cryptocurrency, network and banking solution for the $100 billion global legal marijuana industry.’
In other words, a cryptocurrency is a digital currency or virtual currency, because it is just that, virtual money. Like any other currency, PotCoin can be used to purchase products and services electronically and can also be traded digitally.
PotCoin claims to be the first digital currency created to facilitate transactions within the legalised industry and users can send ‘coins’ through the internet to pay for products, as well as network with others in the community.
In fact, marijuana is listed as a controlled substance in North Korea and puts it in the same category as cocaine and heroin. Marijuana is also illegal in Singapore, where those who are caught in possession of the plant could be given the maximum penalty and be sentenced to death.
Before Rodman’s visit, one PotCoin was worth 7 cents, with its entire market capitalization being over $17 million, which is 0.01 percent of bitcoin’s whopping $115 billion market cap.
Other cannabis digital currencies like CannabisCoin or DopeCoin have an even lower market cap which would amount to a combined $5 million, according to CoinMarketCap.
Dennis Rodman’s attempt at a marketing stunt for PotCoin may not work in the cryptocurrency’s favour as was shown after his trip in 2017 when the digital currency’s value plummeted by 23 percent.
The former NBA legend arrived in Singapore hours before Trump met Kim for the first time and he was seen at Changi airport wearing a black t-shirt with the PotCoin website and the words ‘PEACE STARTS IN SINGAPORE’ detailed around the company logo.
However, after Rodman’s appearance in Singapore, the PotCoin price jumped by 20 percent and added $4 million to its market cap. A PotCoin spokesperson said: ‘We at potcoin definitely believe that Dennis Rodman deserves the Nobel Peace Prize.’