Have a look at what the future of cannabis payments is going to be.
BitCanna will be used for every cannabis payment, whether it be online or in physical stores. Our CEO Jan Scheele will show you how it works.
The Future of Cannabis Payments
The global cannabis industry has been inhibited by regulatory restrictions for most of recent history, but the legal market has emerged rapidly as more governments legalize medical and recreational use. Due to the ‘shady’ image of the business, most banks, credit card companies, and payment providers won’t handle the money generated by the cannabis industry, even in places where it is completely legal. This leads to inefficient and costly solutions such as high bank fees and cash transactions, which only add to the shady image of the industry.
To address this problem, BitCanna will provide a decentralized payment network for the legal cannabis industry, by means of the BitCanna Coin (BCNA). BitCanna has already set up agreements with major companies in the European cannabis market, forming the BitCanna Alliance. The BitCanna Alliance works with legislators to solve the current paradox in the market. By implementing supply chain management and a trust & reputation layer, BitCanna aides legislators in creating a healthy and transparent cannabis market.
10 Reasons why
The global cannabis market is expanding at an extremely fast pace.
2.Powered by the industry
BitCanna has already established partnerships with the top brands in the industry.
The BitCanna Alliance is active in over 27 countries and globally connected within the industry.
4.Millions of visitors
The partners have over 10 million unique visitors per month.
5.15 Years of experience
Team with over 15 years of experience in the cannabis industry.
6.Custom blockchain Live at launch
The BitCanna main net will be fully live as a payment network with wallet 1.0 at launch.
A Proof-of-Stake blockchain will be used to process all BitCanna transactions.
Direct integration with the biggest online shops at the launch of the project.
9.Physical stores across europe
Integrated with physical stores in Barcelona, Amsterdam, Eindhoven, and many more to come.
10.International media partners
Supported by well-known international media partners.
Phase 1. Payment network
The first phase of the project is to create a decentralized payment network to solely serve the cannabis industry. The main goal is to provide an alternative payment solution for unbanked businesses that is more cost-efficient than the current payment options. This payment system will be built around the BitCanna token (BCNA) which is a digital currency that acts as a means of exchange and the unit of account on the BitCanna blockchain. The main net will go live directly after the ICO’s time limit is reached, July 1st 2019.In practice, BitCanna envisions a decentralized payment network in which payments will run directly from the customer to merchants — no middleman. The BCNA token will be a decentralized digital currency that is secure, fast, easy to use and in compliance with local regulations. Since blockchain ledger records are immutable and transparent, this will be perfect for financial institutions looking to audit cannabis companies, as well as government institutions looking to properly tax marijuana businesses and regulate the industry.
Phase 2.Supply Chain
In the second phase of development the mainnet will be integrated with the supply chain layer. The BitCanna blockchain will be expanded with track and trace monitoring functionalities, allowing traceability of the entire supply chain of cannabis, and cannabis-related products. The main goal of phase two will be to create a more efficient supply chain network for businesses and simultaneously build more trust, as well as a new level of transparency within the cannabis industry.While the market is closely monitored with growing interest by government regulators. BitCanna will contribute to the creation of a trustworthy market, for which transparency is of the utmost importance. By phase 2, the distributed ledger will provide all users a clear insight into the production, transportation and financial flow of the market. This technology for many working in the industry include producers, distributors, shippers, government agencies, and consumers.
Phase 3.Trust and Reputation
In Phase 3 a trust and reputation layer will be integrated into the blockchain and a variety of applications will be developed on top of this layer. These applications will further incentivize the network, improve business efficiency and transparency, and better the customer experience.Some practical examples of the applications are business analytical tools, inventory management and loyalty programs. Furthermore, a secure identity platform complementing a review and rating system will be developed for all partakers in the BitCanna network. BitCanna will provide a platform for all links in the supply chain, from farmer to end-consumer, to build the trustworthy reputation they deserve.
Find the best BitCanna offers by online and offline shops.
Shop & product reviews
Review shops and products and find trusted reviews by other consumers.
Supply chain transparency
Find out about the origin and quality of products.
Easy to use wallet for near instant payments.
BitCanna offers near you
Find the best offers by physical stores near you.
Upload your ID securely on the blockchain for easy verification at shops or cannabis clubs and to build a trustworthy reputation.