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Probably the least pleasant part of the accounts receivable professional’s job is running a customer through a collections process. It is time-consuming and can be stressful. Truth be told, you probably are swamped just with your regular duties, emailing requests for payments and making phone calls to answer payment questions for customers.

Still, sending out personalized collections letters to the most delinquent accounts is a crucial part of getting paid. Creating every new collections letter and dunning campaign from scratch is not really necessary, however. You can work off of basic templates and personalize them as needed. To help you with this task, we’ve drafted some simple templates that are clean and easy to understand. Clarity and getting to the point quickly are critical; no one wants to read a lengthy collections letter.

Feel free to copy these templates and make them your own by modifying the introduction section and the closing section to reflect your personal relationship with the accounts payable person or your contact at the delinquent company.

Guide to Writing Collection Letter #1

In most cases, you want to send this letter out very shortly after the invoice is past due. You may have reminded the customer to pay on time, sent emails, left phone messages. Or you may have just assumed they would handle their payables on time. Because this is the first notice, keep the tone professional, but friendly. At this point, it’s more than likely that the payables contact went on vacation, your invoice is waiting in a queue, or some other minor and temporary delay has happened. With this letter, make it clear you are not assuming ill will or evasion but that you still need to have your invoice paid. Keep in mind, as well, that it is entirely possible the customer has not paid because there was a problem with the product or service that has not been resolved and the customer is unhappy. Above all, remember that paying an invoice is the last step in the customer journey and it should be if at all possible, a pleasant and positive process. These customers keep you in business.

This first collection letter must always contain the following basic information:

  • The amount due
  • The item or service purchased
  • Number of days a specific invoice is past due
  • A summary of all of the invoices on the account
  • Clear instructions on the next steps
  • Payment information – ideally an online payment link
  • A precise calendar due date upon which you are requesting payment
  • How to contact you directly with questions or to provide reasons for not paying and status updates

Collection Letter #1 Template

Dear [Insert Name],

[If you know the contact personally, insert a brief note like “Hope your vacation in Hawaii was wonderful!”]

Just a quick reminder that [Insert Company Name]’s account is past due. Our records show there is a balance of $[Insert Amount] that is currently [Insert the number of days past due] days past due. Attached is an account statement with all the relevant balance information. We have also emailed the account statement and invoice to you, for your convenience. If you have not received this email and the attachment, we have provided a summary of your account info below.

  • Invoice Number:
  • Invoice Date:
  • Amount Due Date:
  • Days Past Due:

Could you please tell me the status of your payment? Here is a [link] to our payments portal. We request that you make payment by [Insert Date]. Alternatively, we can provide you with our bank information for an EFT or ACH.

If you can’t pay electronically, please send us a paper check to the following address:

[Insert Your Company Name]
ATTN: Accounting Dept.
[Insert Address]

If we have made an error on your account or you can’t pay at this time, please call me to discuss at [Insert Phone Number]. We are happy to correct any errors or arrange for a payment plan.

We look forward to continuing to do business with you.


[Insert Your Name]

[Insert Email Address]

[Insert Phone Number]

Guide to Writing Collections Letter #2

In the second collection letter, you will need to change tone to become more firm, under the assumption that your first letter was ignored. That said, you don’t want to alienate or anger the customer. At the same time, you want to make it clear that you expect to be paid shortly. Send this second letter 7 to 10 business days after the first collection letter.

The second collection letter should include much of the same information as the letter, with the addition of a brief mention of the potential consequences of continued non-payment:

  • The amount due
  • The item or service purchased
  • Number of days a specific invoice is past due
  • A summary of all of the invoices on the account
  • Clear instructions on the next steps
  • Payment information – ideally an online payment link
  • A precise calendar due date upon which you are requesting payment
  • How to contact you directly with questions or to provide reasons for not paying and status updates
  • Brief mention that failure to pay could have real consequences (credit rating, liens filed, service suspension and reinstatement charge).

Collection Letter #2 Template

[Insert Name] – I wanted to check if you had received our first collection notice.

We have not yet received payment for [Insert Invoice Number]. We have not yet received your response to our letter sent on [Insert Date]. Unfortunately, [Insert Company Name]’s account is [Insert Days Past Due] days past due. You owe a total of $[Insert Amount].

You are a valued customer. We would like to keep your business. Please tell us how we could help you make this payment. We would prefer to avoid actions that could damage your credit rating and impact your ability to do business with us and other companies.

Please submit your payment of $[Insert Amount] by [Insert Calendar Date]. You can pay by credit card over the phone, pay online via our payment portal, or you can send a check in the self-addressed envelope I enclosed here. If you would prefer to pay via ACH or EFT, we are happy to provide our bank details.

If for any reason you cannot pay in full, please contact me immediately at [Insert Phone Number]. I would be very happy to discuss a payment schedule for you and [Insert Company Name].

I do hope we can continue in business together. Thanks for your prompt response and payment.


[Insert Your Name]

[Insert Email Address]

[Insert Phone Number]

Collection Letter Templates

Image Credits

Guide to Writing Collections Letter #3

At this point, the chances of you getting a full payment are pretty slim. You have less to lose – most likely the customer has an idea of what potential consequences of non-payment might be. The tone should remain professional but less cordial to convey the severity of the situation. Definitely accompany this letter with a phone call to your contact. Make it very clear in this letter that the customer is likely to face serious consequences, including reporting the delinquency to credit bureaus and taking legal action. The third collection letter should include the following information:

  • The dates previous letters went out
  • The amount due
  • The item or service purchased
  • Number of days a specific invoice is past due
  • A summary of all of the invoices on the account
  • Clear instructions on the next steps
  • Payment information – ideally an online payment link
  • A precise calendar due date upon which you are requesting payment
  • How to contact you directly with questions or to provide reasons for not paying and status updates
  • Brief mention that failure to pay could have real consequences (credit rating, liens filed, service suspension and reinstatement charge).

Collection Letter #3 Template

Dear [Insert Name],

This is the third letter we have sent to you and [Insert Company Name] is requesting payment in full for invoice [Insert Invoice Number] which was due on [Insert Due Date]. We sent the first letter on [Insert Date] and the second letter on [Insert Date]. We have also called and emailed you to request a payment.

Your account is now [Insert Days Past Due] days past due and you owe a total of $[Insert Amount].

Unfortunately, unless we receive payment in full by [Insert Date] (or agree on a payment plan by this date), we will engage our attorney in the matter and report your delinquency to the credit bureaus. This would have severe consequences on the ability of your business to secure credit.

To prevent these consequences, you can pay the full balance (or make a partial payment immediately) via our online payments portal (URL) or call me and provide your credit card information so we can process a payment. .

Contact me immediately at [Insert Phone Number] so that we might settle this matter amicably and quickly.


[Insert Your Name]

[Insert Email Address]

[Insert Phone Number]

Collections Letter #4: The Final Letter

At this point, you can honestly say you have tried your best and offered the customer multiple options to settle their invoice. This letter should not even ask for payment. Rather, it should just state that you have informed the credit bureaus and engaged your attorney or legal department to pursue legal remedies. While it is not mandatory that you notify delinquent customers of these actions, doing so might actually induce a payment. Once a company knows that legal action is imminent, then it sometimes can accelerate the settlement process. Should this final letter result in a phone call, remain cordial and even friendly; it is far better to be talking with the delinquent customer than to have them ignore all communication. You can keep this letter short. It is designed to serve as proof that a customer has been contacted multiple times and that you have made a good faith effort to give them a chance to pay their debts, in part or in full.

This letter should contain the following details:

  • Number of days an invoice is past due
  • The amount due
  • The dates when the previous three letters were sent
  • A statement that you have referred this matter to the credit bureaus and engaged an attorney

Collection Letter #4 Template

Dear [Insert Name],

We have sent three collections notices to you and [Insert Company Name] is requesting immediate payment for invoice [Insert Invoice Number] for $[Insert Amount] which was due on [Insert Due Date]. We sent letters to you on [Insert Date], [Insert Date] and [Insert Date]. We have also emailed you payment requests and copies of your invoices on those same dates.

Due to your lack of response, we have reported this issue to the credit bureaus, initiated legal action against [Insert Company Name], and are in the process of engaging a collections agency to pursue the debt.

Should there be any change in your situation, please contact me immediately at [Insert Phone Number].


[Insert Your Name]

[Insert Email Address]

[Insert Phone Number]

This article by Koben Williams was originally published on Tesorio Blog

About the Author:

Koben Williams is the Head of Customer Operations at Tesorio.

Featured Image Credits: Pixabay

Despite the bear trend in 2018, Bitcoin hit the 600 billion market cap and we saw the number of ICOs nearly double. And 2019 is bound to be another year of innovation for blockchain tech and crypto. Although there are thousands committed to crypto, there are some influencers who are working behind the scenes for the betterment of the industry.

Who Is an Influencer?

Are you just looking at the follower number? Of course, an influencer’s reach is critical to them being, well, an influencer. In fact, that’s how this list is ordered. But to sift through the hundreds of voices in crypto, we also considered:

  • Activity
  • Engagement with followers
  • Quality of posts
  • Role in the industry

It’s also important to remember that there are different tiers of influencers – from micro to macro. So an influencer who has a smaller fan pool but more solid engagement and resources might be more available than one with 100k+ followers. Furthermore, not every active potential crypto influencer needs thousands of followers since they are working behind the scenes. But their public work offers insight into the present and future of the industry.

In addition, it’s worth noting that just because someone was able to amass a large following on a social media platform does not qualify them as someone you should trust with your investment decisions. Many cryptocurrency influencers have come under fire for shady practices, undisclosed advertisements, and even outright scam shilling.

That said, here’s our list of influencers and where you can find them:

20 Active Crypto Influencers on Social Media

Twitter Crypto Influencers

Crypto Influencers

Vitalik Buterin at a panel.

John McAfee
Twitter | Facebook | Website

Love him or hate him, you can’t deny that John McAfee is one of the leading influencers in the crypto space. Known for his work in cybersecurity, he has since become a critical voice in the crypto and blockchain industry. From his choice to support Patron to his war with the IRS, his Twitter feed is bound to be informative – if not entertaining.

Vitalik Buterin
Twitter | GitHub | Website

The founder of Ethereum and co-founder of Bitcoin Magazine is an active Twitter user. In light of his accomplishments, he’s only 23 and is likely to continue contributing to the space.

Marc Andreessen

Entrepreneur and investor Marc Andreessen is a more subtle but strong voice on Crypto Twitter. Andressen combines his practical knowledge of software and finances to blockchain and crypto. He has even set up a $300 million VC fund for crypto projects.

Roger Ver
Twitter | Youtube

Outside of ETH and broad crypto commentary, you can focus on BTC and BCH with Roger Ver’s Twitter feed. Known as “Bitcoin Jesus”, Ver was an early investor and adopter.

Andreas M. Antonopoulos
Twitter | Youtube | Facebook | LinkedIn | Website

Committed to educating the masses, Andreas Antonopoulos is better known for his books on blockchain and cryptocurrencies. Twitter is his main stomping ground, but Antonopoulos is prolific on the net as lead host of Let’s Talk Bitcoin. His YouTube channel is just as impressive, with over 160k subscribers.

Facebook Crypto Influencers

Crypto Jen

Crypto Jen at a blockchain conference.

Don Tapscott
Facebook | Twitter | Youtube | LinkedIn | Website

You may know Don Tapscott from his book Blockchain Revolution. He is the founder of the Blockchain Research Institute. Tapscott is prolific on almost all social media, not just on Facebook, although he has amassed 111k followers on this platform. He focuses on news and professional commentary.

Jen Buakaew
Facebook | Twitter | LinkedIn 

Jen Buakaew, better known as Jenny from the Blockchain, is a crypto enthusiast and ICO advisor, touting 34k followers on Facebook alone. You can find her speaking and traversing blockchain conferences. She regularly discusses her experiences on the ground level, meeting with enthusiasts and industry leaders outside of the Western hemisphere.

Tim Hartford
Facebook | Twitter | LinkedIn 

Tim Hartford is an economic journalist and he applies his knowledge to blockchain. He writes wholesome syntheses of crypto news and explores where it fits in the larger scheme of things.

Nic Trades
Facebook | Twitter | InstagramWebsite

Nic Trades has her grounding in forex, stocks, and commodities. She seeks to educate others on trading strategy, and that applies to crypto trading as well. She focuses on the trading aspect of crypto, including technical analysis and practical tips.

Brock Pierce
Facebook | Twitter 

Co-founder of  Blockchain Capital and named by Forbes as one of the wealthiest people in crypto, Brock Pierce is an early adopter who is passionate not just about crypto and blockchain, but also ICOs.

LinkedIn Crypto Influencers

Meltem Demiror

Meltem Demirors weighing in on Bloomberg.

Meltem Demirors
LinkedIn | Twitter | Website

Another early adaptor to blockchain, Meltem Demirors is at the forefront of the blockchain revolution as an investor and a consultant. She has over a decade in experience and most recently sat on the World Economic Forum Blockchain Council.

Tone Vays
LinkedIn | Twitter | YouTube | Website 

Tone Vays, on the other side of the aisle, is not interested in tokens or ICOs. He is selective about his crypto and blockchain ventures – as any good consultant is. Having worked on Wall Street for 10 years, he has the financial background to make pointed and insightful commentary on the market.

Mark Lynd
LinkedIn | Twitter | Instagram 

Mark Lynd is an expert in AI, cybersecurity, and blockchain, and it shows on his social profile. Having worked in tech since 1996, he has over 20 years experience in the industry and can understand where blockchain can be applied.

David Gadd

David Gadd is another blockchain consultant, and his daily insights into the market are invaluable. With 15+ years in tech and a certificate from Oxford in blockchain, you can bet he knows the practical and theoretical aspects to the technology.

Yagub Rahimov
LinkedIn | Twitter 

First a professional forex trader, Yagub Rahimov became an early adaptor to blockchain tech and hasn’t stopped talking about it since. His marketing and news brands focus on FinTech companies and ICOs. On social, he offers professional analysis on crypto market trends.

YouTube Crypto Influencers

Crypto Bobby
YouTube | Twitter | Facebook

Crypto Bobby is an influencer and enthusiast – with 144k subscribers. As a self-described average dude, Crypto Bobby’s channel is completely dedicated to crypto news and analysis.

Doug Polk
YouTube | Twitter | Facebook | Instagram

Doug Polk is a former professional poker player now heavily involved in the crypto industry. Apart from co-founding CoinCentral, he hosts a YouTube channel with nearly 230k subscribers.

Ian Balina
YouTube | Twitter | Instagram | SnapChat | Website

Ian Balina is a crypto investor and ICO advisor. His YouTube channel has video content from regulation commentary to crypto analysis and highlights on blockchain in Africa.

Patrik Wieland
YouTube | Twitter | Instagram | Website

Patrick Wieland has over 50k subscribers and has filmed videos ranging from stock market commentary to live crypto trading.

Tim Draper
YouTube | Twitter | Facebook | LinkedIn

Founder of Dealer Associates, Tim Draper is a venture capital investor who correctly predicted in 2014 that Bitcoin would pass the 10k mark in three years. It did so at the end of 2017.

Instagram Crypto Influencers

Maria Jones

In an industry dominated by men, Maria Jones makes it clear that women can be involved in the crypto revolution too. It’s no surprise that the Vice President of CoinTelegraph has amassed 507k on Instagram alone, where she displays the high-life crypto experience.

Armando Pantoja
Instagram | LinkedIn

Armando Pantoja is a tech entrepreneur that loves to give quotes and show off the good life to his 53k followers on Instagram. His feed isn’t just focused on crypto but business principles as well.

Joseph Steinberg
Instagram | Twitter | LinkedIn | YouTube | Website

It’s no surprise that Steinberg has amassed a following of over 24k on Instagram. He’s a well-known tech influencer and cybersecurity thought leader. You’ll find fun behind-the-scenes and conference photos on his Instagram account.

Tony Thomas III

As the handle might suggest, Tony Thomas is passionate about ETH, but he is also a general crypto enthusiast.

Crypto Sally

Crypto Sally’s account is exclusive, meaning that you have to request to be a follower. She offers photos about crypto and lifestyle tips.

The Rest of the Cryptocurrency Influencers

These 20 individuals represent just a small selection of crypto influencers. Some you may love while others you can’t stand. Our hope is that you start with this list, and expand your horizons to find crypto influencers that are best suited to your personal taste. The more opinions you expose yourself to, the better off you’ll be in the wild world of crypto.

This article by Kelsey Ray was originally published on

About the Author:

Kelsey Ray Banerjee is a professional content writer and digital marketer specializing in blockchain, forex trading, and sustainability. When not writing, you can find her traveling, reading, or on Twitter.

Featured Image Credits: Pixabay

Few industries are as misunderstood, or as complimentary, as cannabis and blockchain technology. Both niches are young and exist in highly speculative markets with foggy regulatory conditions. They are also receiving an influx of high talent entrepreneurs and programmers looking to solve some of their respective industry’s largest problems.

In order to truly understand the synergy of cannabis and blockchain, we must look beyond the hype and speculation to understand how and why the cannabis industry needs blockchain technology. It is also important to understand how both industries may inevitably depend on each other.

Cannabis and Blockchain at a Glimpse

The North American cannabis industry has seen a major spike in growth and attention as of late. Much of that attention is coming from entrepreneurs seeking to create value and strike it big, and investors looking for a piece of the pie. There is also an influx in activists fighting for what they believe to be a truly beneficial product and politicians on both sides of the heated legalization debate.

The major strides in the cannabis industry were not without their pain points. Transparency, payment solutions, quality assurance and maintenance, and general regulatory uncertainty have plagued cannabis entrepreneurs for years.

The blockchain is essentially an immutable distributed database at the heart of what many people are calling a cryptocurrency revolution. Everything from popular cryptocurrencies such as Bitcoin and Ethereum to publicly traded companies such as IBM are utilizing blockchain to solve countless issues. These issues aren’t just being solved for a few businesses either, we’re talking thousands of businesses.

Combined with sister technologies like cryptocurrency (digital cryptographic currency) and smart contracts (programming-based contracts), blockchain can help the cannabis industry solve its current issues and navigate the uncertain path ahead.

Setting a Standard of Transparency

In an interview with Rolling Stone, Jessica VerSteeg, the CEO of a cannabis startup called Paragon is utilizing its own blockchain-based cryptocurrency, noted that “Blockchain is about [transparency]. And that’s what we need in the cannabis space.”

Since the blockchain ledger is unchanging, it significantly reduces or eliminates any potential human-based obfuscation or deceptive practices. This would make it extremely easy for financial institutions and governments to audit cannabis companies and keep track of taxes due.

This is particularly important in the cannabis space where businesses must face unclear regulations across borders. Blockchain would empower these businesses with tangible proof of the point of origin and whether any products are moving across national or state lines. This is one of the reasons VerSteeg and other entrepreneurs cite blockchain as being “one catalyst that could help legalize cannabis.”

Although Paragon would later become embroiled in a lawsuit due to its failure to register its Initial Coin Offering (ICO) with the SEC, their fundamental business plan to add transparency to the cannabis space remains the same.

Quality Assurance and Maintenance

Blockchain technology enables businesses to manage their supply chains in real-time, eliminating paper trails and their inescapable lag. Since the cannabis space is relatively new, few companies are able to create an effective vertical integration in their supply chain free from any lag or loss of product.

It’s likely that cannabis will touch many different businesses from farm to when it gets to an authorized dispensary, creating multiple potential costly points of failure. Cannabis businesses utilizing blockchain will be able to precisely pinpoint any inefficiencies in the process and, well, nip them in the bud.

Additionally, by utilizing blockchain in their supply-chain, cannabis businesses will be able to provide customers with the complete picture of their purchase’s journey. Starting from when it was just a seed and how many different parties it touched before ending up in their shopping cart.

Dispensaries will also be able to fully guarantee their products contain exactly the amount of THC, CBD and whether it is sativa or indica dominant as what they’re advertised. Many first-timers walking through legal dispensary doors tend to have concern about their sensitivities to the products. A supply chain supported by flawless math caters to a better overall customer experience.


Image Credits: Pixabay

Payment Processing and Storage

Payments are perhaps one of the largest blights for the cannabis industry.

Although the vast majority of states in the US have legalized marijuana in some capacity, whether medicinal or recreational, federal law poses cumbersome restrictions for how cannabis-based companies can accept and store payments. According to the Credit Union Times, out of the 11,000 banks in the United States, only 300 of them allowed cannabis business owners to create accounts.

This is leading many business owners to operate as a sole cash-only business. With hundreds of thousands and sometimes millions of dollars of revenue, business owners are facing a near-Wild West high stakes risky scenario. Additionally, accounting at high volumes tends to become a nightmare for cash-only businesses and regulators end up having to sift through nebulous financials and end up with an unclear view of tax liabilities, contributing to hesitations for more lenient regulatory policies.

Since cryptocurrencies are decentralized and unregulated for the most part, they enable cannabis businesses to accept secure, cashless, and fast payments that can convert into greenbacks or sent anywhere around the world at competitive speeds.

The North American cannabis industry is expected to count $20.2 billion in sales by 2021. While traditional payment solutions companies are bound by federal restrictions, cryptocurrency entrepreneurs are positioning themselves to not only change how the cannabis industry accepts payments, but how global commerce operates.

Final Thoughts

From payment processing and identity confirmation to tracking the entire supply chain from seed to end-product, the cannabis industry has plenty of entry points for blockchain technology.

As the cannabis and blockchain industries evolve together, there will be an even deeper mingling and collaboration between the respective entrepreneurial talents, technological advantages, and political activism of each die-hard community.

This article by Alex Moskov was previously published on MadeByHemp

About the Author:

Alex Moskov is the Editor-in-Chief of CoinCentral, a leading cryptocurrency and blockchain media publication. He also advises blockchain startups, enterprise organizations, and ICOs on content strategy, marketing, and business development. He also regrets not buying more Bitcoin back in 2012, just like you.

Featured Image Credits: Pixabay

Learn More About Cannabidiol


Cannabidiol, or CBD for short, has long been lauded for its potential significant medical benefits and pain-reducing aspects. But for all of its popularity and trendiness, CBD is still largely misunderstood by population masses and regulators alike. Although the legislature in the 2018 Farm Bill was recently passed, de-scheduling hemp and CBD, there are still several pain points which circle the CBD industry.

With the CBD industry expected to grow to $2 billion by 2020, it’s no shocker that hundreds of entrepreneurs are viewing CBD’s pain points as a call to arms to provide lucrative solutions to facilitate the growth of the space. Many of these entrepreneurs are jumping head first into blockchain and cryptocurrency, two relatively new technologies that could make a substantial dent and potentially free the CBD space from its woes.

From Bongger (BGR) to Sativacoin (STV) to DopeCoin (DOPE), there is no shortage of appropriately named cannabis-focused cryptocurrencies coming out of the woodwork. The following article explores a few of the most common and most legitimate cryptocurrencies that circle the CBD space, as well as the innovative solutions they offer.

PotCoin (POT)

No cannabis cryptocurrency list would be complete without its poster child, PotCoin.

Launched in January 2014, the Canada-based PotCoin was a pioneer for the intersection of blockchain and marijuana. The token was created to solve the banking problems for businesses and customers seeking to transact in completely legal purchases. In 2017, only 300 of the 11,000 banks in the United States allowed cannabis business owners to create accounts, and that figure was much smaller in 2014.

PotCoin remained relatively dormant but exploded with popularity alongside the overall cryptocurrency industry, hitting a peak on June 12th, 2017 when a video of the controversial perplexing NBA star Dennis Rodman rocked a shirt in North Korea on his way to the historic summit between the Supreme Leader of North Korea Kim Jong Un and the President of the United States Donald Trump.

PotCoin reached an all-time-high market cap of roughly $93,129,000 USD in 2017 and currently sits around $2,900,000 USD. There is a limited supply of PotCoin set at 420 million POT.

ParagonCoin (PRG)

Paragon was established in July 2017 with the intention of creating a suite of products aimed at organizing, systematizing, and creating easily verifiable and transparent cannabis industry solutions.

ParagonCoin (PRG) is the cryptographic token that powers the Paragon ecosystem, which allows businesses and users to easily transfer funds. An interesting solution to note in the Paragon suite is a full seed-to-sale tracking solution that integrates all of the different stages in each individual cannabis-based companies supply chain. Within the scope of CBD products, this would help verify and ensure that the end-product CBD is created from exactly what is expected.

Cannabidiol CBD

Image Credits: yavdat (Getty Images)

Cultivators are able to enter their relevant crop data and growth cycles, with the final harvest batches becoming linked to smart contracts that track the flow to the point of sales. The immutability of the blockchain would ensure that database information can’t be tampered with at a later date or removed altogether, making it easier for businesses (and regulators) to better understand the flow of products and lax liabilities.

Paragon would later trip into a lawsuit for failure to register its Initial Coin Offering (ICO) with the SEC, which served as a landmark case for all ICOs in the industry. ParagonCoin reached an all-time-high market cap of roughly $57,000,000 USD at the start of 2018 and currently sits around $8,000,000 USD.

Bitcoin and Litecoin

Although not branded as cannabis-based cryptocurrencies, Bitcoin and Litecoin are popular choices for businesses and consumers transact for cannabis and CBD-related products.

Many cannabis and CBD businesses set up portals to accept Bitcoin and Litecoin early on to circumvent opaque regulations that prevented them from accepting credit card payments. As Bitcoin and Litecoin grew their user bases exponentially in 2017 and 2018, many more businesses jumped on board.

Although both cryptocurrencies provide the same end result, they differ in small ways. Bitcoin tends to be more popular due to its massive user base and liquidity, and Litecoin is sometimes preferred because of its lower transaction fees.

Final Thoughts

As the CBD and cannabis space continues to grow, there will likely be an increase in the number of entrepreneurs leveraging the power of blockchain and cryptocurrency to facilitate their business needs. By understanding the current economic and regulatory climate, as well as the technological applications of cryptocurrency, these business owners will be much better equipped to position themselves as leaders in their respective fields.

This article by Alex Moskov was previously published on

About the Author:

Alex Moskov is the Editor-in-Chief of CoinCentral, a leading cryptocurrency and blockchain media publication. Alex also advises blockchain startups, enterprise organizations, and ICOs on content strategy, marketing, and business development. He also regrets not buying more Bitcoin back in 2012, just like you.

What Is Blockchain for Europe?

Blockchain for Europe Chairman Kristof Van de ReckAt the end of 2018, five blockchain heavyweights joined forces to create Blockchain for Europe, an effort “to create a unified voice for the blockchain industry at [the] European level.” The initial committee of RippleNEMEmurgo/CardanoBloq, and Fetch. AI hosted a summit in November 2018 in partnership with the four largest European parliamentary groups to discuss an array of topics regarding blockchain, cryptocurrency, and their associated regulations.

As blockchain technology continues to enter the limelight, it’s important that the regulators behind the inevitable legislation understand the ins-and-outs of the technology and what impact their decisions will have on innovation.

CoinCentral’s Steven Buchko and Sarah Rothrie had the opportunity to speak with Kristof Van de Reck, Chairman of Blockchain for Europe and NEM’s Regional Head of Europe, about what’s driving this new organization and some of the challenges that it may face in the coming years.

What are the goals of Blockchain for Europe in 2019?

In 2019, Blockchain for Europe has three priorities:

  1. Establish ourselves as a trusted stakeholder towards policymakers in the blockchain space;
  2. Educate EU and member state institutions on the true nature and potential of distributed ledger technology (DLT) and blockchain technologies; and
  3. Engage in policy discussions, notably around blockchain protocol standards as well as crypto assets. Other topics will follow in the coming years.

Since 2019 is also our first year as an association, an important focus will also be to drive our membership. Our primary constituencies are blockchain originals (i.e. organizations whose prime reason for existence is blockchain).

Describe how discussions with European regulators have been going so far.

The first reactions are very positive. European regulators are generally very open to receiving input from us on this topic. The current stakeholder landscape has been largely dominated by large, non-blockchain originating companies, law firms and universities. We can bring a different perspective to regulators.

In your opinion, which countries are approaching blockchain regulation in an appropriate way?

As of today, France, Malta, Lithuania, Switzerland and Liechtenstein lead the way in Europe on cryptocurrency regulation. Also, the UK is taking steps in the right direction. On blockchain regulation in general, the picture is much more complicated as it often requires an application-based approach and is not necessarily linked to the technology itself.

What do ideal blockchain and cryptocurrency regulations look like to you?

We believe blockchain technology as such should not be regulated. Regulation should be technology-neutral by default. Probably the most important point about dealing with regulation is to bring on board companies developing this new technology so that regulators can better understand its future impact. That is also the mission of Blockchain for Europe.

How can regulators keep up with the pace of blockchain development, particularly in the EU where (by necessity), passing new regulations is a bureaucratic process involving many parties? For example, the GDPR took two years from approval to enforcement. Isn’t there a risk that by the time regulation becomes effective, it’s already obsolete?

We think that regulation should be, to the degree possible, technology-neutral so that technological development is not harmed. Regulation should be based on the applications, not on the technology. Blockchain cannot be regulated with one regulation but requires a nimble, sectoral approach.

Regulation should be, to the degree possible, technology-neutral so that technological development is not harmed. – Kristof van de Reck, Blockchain for Europe Chairman.

What’s your view on the conflict presented to blockchain by the GDPR requiring a “right to be forgotten?” How can blockchain projects ensure compliance?

The EU Data Protection Regulation is certainly a challenge for businesses working with blockchain. In scenarios where users are in control of their own data, like public blockchains, the GDPR is not an issue. However, we have to wonder whether users are actually aware of the consequences of certain actions in this environment.

Blockchain technology, in combination with cryptography, actually provides huge opportunities for privacy. And we can imagine scenarios where the GDPR may be a little strict. There will hopefully be opportunities to improve the GDPR in the future.

Are there any areas where you see blockchain adoption is gaining particular traction in the EU? For example, the My Health My Data initiative seems to indicate a particular enthusiasm for implementing blockchain in healthcare. How does the association intend to represent blockchain adoption in different sectors?

Europe is really keen on becoming a leader in the blockchain space. We see blockchain quickly gaining ground in governance applications, including identity, research cooperation between universities and in the logistics/supply chain area.

While our goal in 2019 is to educate policymakers about blockchain protocol standards as well as crypto assets, in the coming years, we also want to focus on other sectors. Our members are keen to get involved in the discussions around notably digital identity and smart contracts.

There will be a new European Parliament elected in 2019. Do you think this will affect the tone or direction of the blockchain/cryptocurrency policy debate?

There is certainly a risk that the tone of the blockchain/cryptocurrency policy debate will change after the May 2019 European elections. Not only will we likely lose all British MEPs, generally a pro free-market force, we also expect the Parliament to become much more fragmented. While today it is quite easy for us to have a direct impact on the debate through a few members of Parliament that have a real interest in the topic, in a future Parliament, this might become much more challenging. Depending on how the balance of powers shifts, the Parliament might also take a more or less restrictive approach toward regulating blockchain technology.

Does the association intend to get involved in European cross-technology initiatives such as the Smart Cities Initiative?

No, at this stage it is not a priority for us.

Thank you, Kristof and the rest of Blockchain for Europe, for your time and efforts toward further blockchain adoption.

This article by Steven Buchko was previously published on

About the Author:

Based in Austin, TX, Steven is the Executive Editor at CoinCentral. He’s interviewed industry heavyweights such as Wanchain President Dustin Byington, TechCrunch Editor-in-Chief Josh Constine, IOST CEO Jimmy Zhong, Celsius Network CEO Alex Mashinsky, and ICON co-founder Min Kim among others. Outside of his role at CoinCentral, Steven is a co-founder and CEO of Coin Clear, a mobile app that automates cryptocurrency investments. You can follow him on Twitter @TheRealBucci to read his “clever insights on the crypto industry.” His words, not ours.

Featured Image Credits: Image by pixel2013 on Pixabay

NEO Global Capital Interview

If you’re reading this, chances are you have experience or are interested in trading or investing in cryptocurrency assets such as NEO Global Capital

Chances are pretty high that a majority of our readers have invested a number anywhere between $100 to $10,000 in a mixture of assets such as Bitcoin, Ethereum, Ripple, and NEO. There’s also slim minority that has taken a walk on the wild side and invested in ICOs – some getting lucky, the bulk getting burnt.

Your decisions were likely fueled by news and impulse, and since your risk was relatively low, it didn’t take much convincing to place your orders

But what happens when that $100 to $10,000 figure is multiplied by 100x to 1,000x, in some cases 10,000x. And it’s your full-time job. And it’s not your money. The landscape changes a bit.

Cryptocurrency funds have a unique task ahead of them that involves navigating through a noisy and clamorous environment to get access to high-quality deal flows and investment targets. The stakes are much higher and reputation starts to matter.

CoinCentral connected with the team behind one of the world’s leading blockchain investment firms, NEO Global Capital, at their inaugural Boston meetup. The event featured heavy hitting figures from organizations such as Arrington XRP Capital, Pantera Capital, Block72, and, of course, NEO Global Capital.

The NEO Global Capital Fund I has a high-octane diverse portfolio of blockchain projects such as OntologyBluzelleZilliqa, Trinity, Mainframe, and Top.

The following interview provides some serious insights into the mechanics behind running an international blockchain fund, especially in the bear market that is 2018, from NGC Founding Partner Roger Lim.


Can you tell us a bit more about what gives you a sense of a good investment opportunity? What specific traits are you looking for in the team, in the idea, in the technology?

NGC’s founding team has been involved in the blockchain industry since its early days, so we are fortunate to have worked alongside some of the early adopters of the technology. With time comes a better understanding of what industries are most in need of a digital overhaul, as well as where decentralized technologies will have the greatest impact, so our experience has certainly played to our advantage.

As such, we’ve developed a strong sense of which sectors will benefit most from blockchain; what stands out in terms of a projects founding team; and whether an idea is innovative and disruptive versus one that is similar to something that already exists and can really only offer incremental improvement.

That being said, NEO Global Capital has a well-rounded portfolio of investments, and we hope to continue supporting a variety of industries, including identity solutions; gaming; online content streaming; the financial services industry (i.e. banking, financing, payments, and exchanges); and so on.

We will also continue to invest in public chains, as well as privacy and security projects because we see them as strong examples of addressing a specific problem. Overall, it’s important to look at how competitive the market is for whatever that project is trying to solve.

Perhaps most importantly, we place a heavy emphasis on the strength of the team at the heart of a project: Does this project have strong leadership? What is their experience? Do they have high success rates from previous projects? A strong team is often the best indicator of whether or a not a project will succeed.

Could you tell us a bit about the fund’s relationship with NEO?

Our affiliation with NEO is a strategic one that allows NGC to fulfill its position as a leading investment firm. While NEO Global Capital is a fully independent entity, we are long-term believers in NEO and have created a dedicated fund aimed at fostering the growth of the NEO Smart Economy ecosystem. Through strategic capital deployment, project incubation, and utilizing all of our available resources, we believe that we can help accelerate the growth of the overall crypto market.

The NGC Fund I seems to be a newer fund compared to the NEO Eco Fund. Can you explain what are the differences between the two funds, in terms of objectives and potential investment targets?

The NGC Fund I is our for-profit fund, where we invest in the most promising and innovative projects related to blockchain. Our wider interest is in advancing the industry, so we invest in projects that have strong use cases and can help drive the mainstream adoption of blockchain.

Our second fund is the NEO Eco Fund and our goal here is to promote the growth of the NEO Smart Economy ecosystem. In alignment with our belief in NEO, we occasionally invest in projects that would specifically benefit from NEO’s infrastructure.

Overall, the goal of both funds is to help startups create lasting competitive advantages in an industry that’s become very crowded, very quickly.

NEO Global Capital

What kinds of short-term targets and goals do you typically agree with a startup firm once you have decided to invest? How do you go about agreeing on these targets?

Goals, objectives, and targets differ depending on the type of projects we are supporting. If it’s a public chain, for example, we would work with the project to identify gaps in the technical team, the roadmap, and milestones in advance of the mainnet launch. We are generous with our time for each of our investees; we want them to succeed, and if they wish to tap on the experience of any of our partners or reach out to our network, they have the full backing and support of the firm.

It tends to be typical that venture funds require a founding team to have a longer-term target that the company should be sold within a set period of time. Is it any different with NGC? What kind of timeframe do you work to for long term goals, and how do you define long term goals?

In general, token investments achieve liquidity a lot faster on exchanges than equity investments (months rather than years). Nevertheless, at NEO Global Capital we want all our investees to succeed whether we make a token or equity investment. We still hold tokens of many of our investments and we continue to work with them and expect them to continue their growth, development and to achieve the key business objectives over the coming years.

Are there any advantages to operating a cryptocurrency fund in a bear market?

In a way, bitcoin’s dramatic rise last year has solidified the blockchain industry: there is now an interest in blockchain and cryptocurrency that did not exist previously. As we move away from the crypto mania that ensued, the benefit of operating our crypto fund in a bear market is that most projects now come with good intentions.

This is not to say we have completely eliminated bad actors, but there were certainly more projects and players that emerged in the market at its peak when there was a greater opportunity for quick wins. Likewise, the current market allows investors to spend time researching, understanding a new technology or problem a project may solve — in a bull market, investors may act from a fear of missing out.

In addition to good valuations, the current market has produced stronger projects with experienced leadership teams, compelling use cases, and cutting-edge tech. We believe that the competitiveness of the market has not decreased in any way.

What separates a high-quality investment fund from a low-quality one?

A high-quality investment fund is one that makes educated and thoughtful investment decisions. One thing we are very proud of at NEO Global Capital is that our founding team comes from a varied background of crypto investment, traditional financial markets, emerging technologies, and mergers and acquisitions.

We would say that the best investment funds are those that are able to marry their crypto-specific knowledge with experience from more traditional verticals, thereby taking a more well-rounded and considered approach to investment.

A major component for any investor in the ICO space is access to deal flow. What gives NEO Global Capital an advantage here? Do you have any advice for smaller retail investors?

A strong reputation for helping projects post-investment is important and also entices more founders and entrepreneurs to want to work with us. We not only work closely with, but we welcome other funds to work with us to share deals, insights, and expertise. We strongly believe in collaboration and that a variety among blockchain investors (geographical expertise, background, and networks) brings diverse experience and immense benefits to a project.

As for retail investors, As Warren Buffet once said, “never invest in something you don’t understand” so definitely do your research, understand what you are investing in; and diversification is important. Cryptos are highly volatile and therefore risky, weigh up the risks before diving in.

Looking out on the wider market which is becoming very crowded. From the ICOs that have been completed so far in 2018, which ones stand out to you as being unique or otherwise interesting opportunities?

We think all the projects we have invested in have innovative teams and unique solutions to today’s problems within the industry. Ontology, for example, provides a solution to digital identity; Certik solves security problems in blockchain with formal verification; Hadron helps enterprises like NASA outsource their computation tasks with a large user and device population so that these tasks are done efficiently and timely. All hugely ambitious projects making immense progress and we look forward to supporting them in the future.

How does the NEO Global Capital team reach an agreement over which projects to invest in, or not?

While there are no hard and fast rules, a strong product, an effective business plan, and an ambitious, goal-orientated founding team would certainly be the cornerstone of what we consider a promising venture. Each of NEO Global Capital’s partners understands that investors are interested in seeing and investing in projects that are both unique and impactful, so we are often in agreement when it comes to whether to invest or not.

In your view, what is the outlook for the overall price of Bitcoin and cryptocurrencies over the next 12 months? What are the crunch points that may end up turning the markets in one direction or another?

If I had to hazard a guess – I would say bitcoin could see new highs over the next 12-18 months. As regulations, standards, and infrastructure become more mature, I expect the market to react positively.

What would be your single best piece advice for any founders of an ICO or blockchain startup?

As the blockchain space becomes increasingly noisy, a recommendation we always make to founders and entrepreneurs is to consider whether or not they really need blockchain. Focus on the problem you are trying to solve and decide if blockchain is truly the solution.

What is the outlook for NEO Global Capital as we move to the end of 2018 and beyond?

Our primary interest lies in advancing the industry of blockchain towards mainstream adoption, so as we move towards the end of 2018, we will continue to strive towards that goal by investing in the most innovative projects; sponsoring higher education initiatives; and facilitating conversation between industry leaders and business professionals that will address what the industry needs, where exactly the market stands, and what steps can be taken in the New Year to advance the industry as a whole.

In line with this, we’ve recently invested in several key blockchain-focused initiatives in higher education: most recently at Berkeley and the National University of Singapore. We also held our inaugural meetup in Boston to discuss project funding and development, best investment practices, and emerging industry trends. We plan to do more of this as we wrap up the year, and hopefully into 2019.

This article by Alex Moskov was previously published on

About the Author:

Alex Moskov is the Editor-in-Chief of CoinCentral. Alex also advises blockchain startups, enterprise organizations, and ICOs on content strategy, marketing, and business development. He also regrets not buying more Bitcoin back in 2012, just like you.


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