Published: 2018-11-04 08:52:42
Currently, the cannabis industry is facing many restrictions; one of the challenges is the fact that most financial institutions such as banks, payment providers, and credit card companies do not handle money generated by the cannabis industry.
These results in solutions are highly inefficient and costly in terms of transaction and banking fees. BitCanna will address this solution through providing the Cannabis industry with a decentralized payment network powered by the BitCanna Coin (BCNA).
What Is BitCanna?
BitCanna has formed the BitCanna Alliance, which includes the major players in the European cannabis market as well as legislators in order to solve the challenges in the cannabis market. BitCanna will help the legislators in creating a healthy and transparent cannabis market through the implementation of a supply chain management and a trust and reputation layer.
How BitCanna Cannabis Blockchain Payments Platform Works
BitCanna aims at creating a decentralized payment network that does not involve intermediaries so that merchants will receive payments directly from the customers. BCNA will act as a means of exchange on the network and a unit of account on the BitCanna Blockchain. All the transactions through the token are recorded on the blockchain, creating an immutable ledger. Government institutions can use the ledger to tax and regulate the cannabis industry and financial institutions that would like to audit cannabis companies.
The BitCanna Network will be integrated with a supply chain layer, which will have the capabilities to track the entire supply chain of cannabis and all its related products. The layer will provide all the players in the cannabis industry producers, distributors, shippers, government agencies, and consumers with access to the production, transportation, and financial flow of the entire cannabis market.
A trust and reputation layer will also be integrated in BitCanna. This layer will be the basis of most applications that will be developed on BitCanna. Applications will include business analytical tools, loyalty programs, and inventory management. The main function of such applications will be incentivizing the network and improving efficiency, transparency, and customer experience.
BitCanna is accessible through a mobile application where users could find the best Cannabis offers from online and offline shops, review shops, and products or find trusted reviews by other customers. They can equally find out about the entire origin and quality of products. The application will also enable users to use the BitCanna wallet to make payments for products.
Efficient Supply Chain Network
The BitCanna supply chain layer will create a more efficient supply chain network for businesses that will increase the trust and the transparency levels in the cannabis industry.
The BitCanna Mainnet will be fully functional as a payment network with a customized wallet. All the transactions in the wallet will be processed through a Proof-of-Stake blockchain.
Powered By The Industry
The alliance formed by BitCanna is active in over 27 countries and has established connections with some of the top brand in the cannabis industry.
BitCanna BCNA Token ICO Details
Parameters Of The ICO
- Token: BCNA
- Token supply: 420,000,000
- Sale date: 15 NOV 2018 – 30 JUN 2019
- Token price: 0.12 USD = 1.0 BCNA
- Accepted currencies: BTC, ETH, BCH, LTC, DASH
- Soft Cap: 3,000,000 USD
- Hard Cap: 20,000,000 USD
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