There is no denying that the last few years have seen big strides made in the legalization of cannabis and the growth of a new industry. In 2020, legal cannabis broke new ground in many ways, for example with New Jersey, Montana, and South Dakota voting to legalize the recreational use of cannabis and other states, such as Arizona and Mississippi, legalizing it.
Several startups are receiving increased funding, such as Nabis, a software-enabled cannabis distributor that seeks to link farmers, manufacturers, brands, and vendors to improve the distribution process.
It seems as if the dynamic of the industry changes every day, with fast-paced mergers and acquisitions (M&A), new companies launching, and older outfits coming to prominence. The Cannabis industry has quickly become a competitive sector. Large industry players are fighting for market shares and fostering innovation in the hope of drawing a greater portion of customers to their products. In just five years the market cap of publicly listed cannabis companies has grown to over 100 Billion.
The European cannabis market has fallen far behind North America, which has demonstrated how cannabis tax revenues and profits can create more opportunities. Cannabis is not only a chance to catch up but truly maximize the opportunity in Europe while ensuring a secure and serious approach to this fast-growing industry and expected wave of legalization. The CanCoin has been designed to solve current market friction and monetization in the European cannabis market.
WHAT is CanCoin ?
CanCoin is both a new industry token for the fast-growing cannabis industry and a blockchain-based solution for the industry solution. It solves several friction issues as well as ensuring which fosters a fast acceptance rate. The cannabis industry will benefit from a streamlined focused currency as well as the legalization bodies' acceptance if blockchain solutions are widely implemented, accepted, and used.
FETURE of CanCoin
CanCoin aims to penetrate the market by offering tools and a quality user experience to companies across the cannabis value chain
- Track and Trace Solutions to increase transparency - CanCoin integrates seed-to-shelf technologies, mimicking a vertical integrated network. This helps track the journey of the flower from genetics to the finished product retail through cultivation, processing, extraction, and transformation. It will also track the product's shelf life. With this, companies can monitor their supply chain and inventory management closely, ensuring timely distribution of products and minimizing stock surplus.
- Payment Solution - Featuring the CanCoin wallet, CanCoin offers financial payment gateway solutions. With the availability of cryptocurrencies and high-risk payment portal platforms such as Cloudpay technologies, cannabis-related financial trades are becoming easier. With CanCoin, businesses are able to transact without limitations as they are not subjected to any bank imposed limits thanks to immutable and open ledger-based blockchain technology.
- DNS Storage & Data - CanCoin features technology to store and track DNA. The collected data along with CanCoin's machine learning and AI capabilities can allow businesses to improve and customize their offering further allowing for better matches to customer requirements. Customers can also benefit from the hyper customized experience of plant-based medicine which is specially tailored to each individual's DNA and history of buying behavior.
- Digital Medical Identity & Patient Data - CanCoin platform features an encrypted digital medical ID card to identify legitimate medical cannabis patients. To further improve patient data outcomes, CanCoin will allow patients to integrate their DNA profiles into the encrypted platform. Research suggests a person's DNA profile plays an important role in how medical cannabis interacts with the person's endocannabinoid system.
- Augmented Reality NFT - One of the key differentiators would be its Augmented reality NFT. This exciting feature allows the user to plant and grow their virtual cannabis plants and grow their virtual cannabis plant anywhere via their mobile. Adding to this, NFT's can be used to redeem in-store discounts on cannabis or its derivatives.
- NFT Game - Users will have access to a virtual farm where they can have multiple NFT Cannabis growing. In the virtual environment, they can grow their plants by way of using their water/fertilizers NFT to make their plate grow. This not only allows users to unlock store discounts by growing their plants to the maximum level but also have fun while doing so and to win prizes from the project.
- Decentralized oracle service - CanCoin utilizes Chainlink's Decentralized Oracle Service (DOS) to extract information from the real world into the blockchain. CanCoin revolutionizes the Cannabis Supply Chain industry by leveraging on DOS, enabling its innovative solutions such as dynamic NFT's and distributed ledger technology to track products.
- Dynamic NFTs - Dynamic NFTs are non-fungible tokens that trigger a series of actions, often through the use of an oracle: for example, whenever a user with CanCoin NFT makes a purchase in-store, Chainlink oracle's retrieves the transaction records and automatically upgrades the NFT, allowing this user to earn discounts on future purchases.
- Distributed Ledger Technolgy - Use of DLT to track products from seed to shelf. Key internal stakeholders will be able to monitor and view details of the product movement, ensuring operational security and continued business operations. The public on the other hand will be able to see if the delivery was successful.
- CanCoin Wallet - CanCoin will have a mobile wallet. That will be simpler to use and offer a safe place to store your CanCoin tokens. This will make sending and receiving CanCoin tokens quick and easy. CanCoin wallet will be available for free to download on Windows, Linux, and OSX. CanCoin can be bought directly to your wallet bypassing any need for CEX or DEX. Users can make their purchases through CacCoin tokens using scanning QR Codes. NFT staker and unlock will be directly available on the wallet.
- Symbol : CANNA
- Decimal : 18
- Max supply : 420.000.000
- Circulating supply :210,000,000
- Consensus model : Proof of Reputation (PoR)
- Platform : Binance Smart Chain (BSC)
- Utility : Decentralized Oracle Services (DOS),
- Dynamic Non-Fungible Tokens (NFTs),
- Distributed Ledger Technology (DLT)
- 40%For the token generation event
- 15%Is held i reserve serves as liquidity pool to manage token volatility
- 5%For Pre and post token bounty
- 15%For immediate team with vesting (20% of this for advisors before, during and after ICO)
- 25%For contributors and reward parties that contribute assets, IP or services in the ecosystem
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