You may have heard about some movie theaters accepting crypto payments, as well as football clubs, hotels, etc. Even though crypto is still on the way to becoming a mainstream payment method, considerable progress has been made since its inception. With new use cases and products coming out frequently, crypto may achieve mainstream adoption sooner than expected. As more users enter the market, it has paved the way for utility in various business models. Today we focus on the emerging cannabis market and a project that is striving to take significant market share.
The CanCoin Solution
Have you ever thought about a way that crypto and cannabis could create synergy in places where the use of cannabis is regulated? CanCoin is launching a project that will function as the solution to the market problems plaguing the legal European cannabis market and its monetization.
The CanCoin will use blockchain technology to provide solutions like medical cannabis cards, payment processing, secure monitoring, tracking of cannabis, and the management of the supply chain in Europe.
The cannabis market in Europe is plagued with mistrust, lack of transparency, and other irregularities. Technicorum Holdings, a decentralized finance advisory firm, formed a partnership with the co-founders of Enexis to fuel the launch and token sale of CanCoin. The co-founders are David Bonnier, Amaury de Poret, and Daniel Daboczy. According to the press release, Daniel is known for his expertise in European crowdfunding and is expected to oversee investor relations and solution development. The individuals came together to provide a workable solution for the cannabis market irregularities.
It is important to have such solutions in place, to nip the excesses in the bud and enable a more secure, transparent, and trustworthy system for patients and products. With CanCoin, there will be effective and efficient monitoring and tracking system that will oversee the product from seed to shelf.
Furthermore, CanCoin will also bring DeFi and NFTs into the community, as a way to keep the community diversified and thriving. Apart from the aforementioned major actors in the CanCoin project, there are other key people involved from different works of life, especially within the blockchain, legal cannabis, and finance industries who will function as investors and advisors.
It may interest you to know that the cannabis market in Europe has dropped behind North America, and that is indicative of the fact that revenues from profits and taxes on cannabis can cause a paradigm shift for more opportunities within the European Union. What better way to achieve that than to use a blockchain-based solution?
Daniel Daboczy, the CEO of Technicorum Holdings, stated that:
“The European cannabis market has fallen far behind North America, which has demonstrated how cannabis tax revenues and profits can create more opportunity. TheCanCoin 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. We believe that the legal cannabis industry will benefit from its own industry currency paired with some of the best technology available. These tools will accelerate this fast-growing industry even more. ”
On August 22, 2021, the CanCoin IDO will begin, and there will be a supply of 420 million coins which will be used for transactions within the CanCoin ecosystem, as well as drive project functionalities. The Proof of Reputation (PoR) consensus model is expected to leverage the Binance Smart Chain.
If you want more information about the CanCoin project, you can check http://www.thecancoin.com/.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however, no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the cryptocurrency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal, or accounting advice.