CannaBLOQ

  • Blockchain Technology

  • Consortium

  • Cannabis Industry

  • Global Payments

A project of First Bitcoin Capital Corp.

A publicly traded company. On OTC Markets Under The Symbol BITCF

Our Investment
Philosophy

Let’s get right into it. Cannabis is currently federally illegal and is classified as a schedule I drug. That makes is it legally complicated for the cannabis industry to have proper banking solutions or payment options.

The cannabis industry is estimated to be worth $7.7 billion and is expected to grow to 31.4 billion by 2021, according to the Brightfield group. In one sense, there’s money to be made in marijuana, but the potential growth is limited. The industry needs additional investments and banking.

Our Investment Philosophy

Investing In
Cannabis

Jim Cramer, the host of “Mad Money’’, says that investing in marijuana is as speculative as investing in cryptocurrencies such as Bitcoin. Cramer told CNBC “As far as I’m concerned, there’s way too much speculation in this sector already.” We see his point… no one knows what is going to happen within the industry because the regulations keep changing. The government is having an identity crisis when is comes to cannabis. Are we for it or against it? Because of the lack of certainty surrounding both the crypto and cannabis markets, some investors consider the market too volatile.

One major issue with investing in marijuana companies or stocks is that there’s very little guarantee and a great deal of risk involved. In addition, many stocks are overinflated. The real problem is that at any moment, the federal government could jump in and cause quite a bit of trouble for the industry.

The reality is, “it is federally not legal to invest directly in marijuana companies,” Dan Ahrens, COO of AdvisorShares Investments and author of Investing in Vice told the Globe and Mail. And if the U.S. government so decides, investors “could be forced to divest from their illegal investments” without much warning—a concern for anyone focused on making more money.


The Banking
Problem

Because of the lack of legality surrounding the industry, banking is a struggle. It is estimated that only 500 banks work with cannabis businesses and none of those are major branches. Cash is king in this business and because there is no way to accept credit or debit cards, cash is causing some problems. This is where crypto’s play a major role. Cryptocurrencies now offer the cannabis industry an alternative form of payment.

The Problem

Is Cryptocurrency the New
Cannabis Cash

Crypto can offer dispensaries and growers a safer way to handle cannabis transactions. This way, operators can avoid having cash on hand and add another level of transparency for each sale.

 “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value,” wrote Don and Alex Tapscott in their book, Blockchain Revolution.

The blockchain keeps the shared dataspace public and therefor it makes is easy to verify records of each cryptocurrency transaction.

So you are probably thinking ok… what does this mean for marijuana businesses? It means that by accepting a currency like Bitcoin or weedcoin instead of cash, they can track every transaction back to its source and ensure each payment is legitimate and theft-proof. There are less risks involved with blockchain versus a credit card.  Since the banking problem keeps getting worse, many dispensaries are turning to crypto for a solution for their cash problems and relying on tech companies such as SinglePoint and First Bitcoin Capital Corp to provide the solution.  The cannabis industry could be the first in fully embracing digital currencies.


CannaBLOQ
Introduction

The First Cannabis Industry Blockchain Consortium

What is A CannaBLOQ consortium?

A consortium allows similar companies to combine their capabilities and resources to develop and deliver a Blockchain based supply chain management and alternative payment platform for the Cannabis industry. The primary driver of CannaBloq’s consortium is that it allows for greater economies of scale, efficiency and effectiveness. Cannabloq will be made up of delivery partners from different industry sectors such as retail dispensaries, growers, vendors, equipment manufacturers, and other industry participants. We believe that this will offer a great source of competitive advantage.

What are the Advantages ?

Advantages

  • A consortium lets its partners share relevant skills, experience and expertise in such a way that every business complements each another (i.e. in terms of the tender roles and responsibility, and in relation to service delivery).

  • Being a member of the consortium will give member companies the opportunity to access partner experiences or competencies they may not might not have, and which some smaller companies cannot afford to 'buy in' just to secure the contract.

  • Other business partners will have unique selling points (USPs) that your company (prospective new member) do not have. They may have the capability to deliver in other geographical areas or may have access to data that can give the tender submission a competitive advantage over other submissions.

  • Sharing participants/members expertise and capabilities, via the consortium, can increase member companies’ chances of success of implementation Blockchain powered supply chain and payment platforms.

  • Business partners can share development costs, which can reduce overheads and the amount of resources required of each business.

  • Risk can be spread across business partners.

  • It takes time to develop a consortium.This is why we carefully vet members to ensure consistency & quality.

Companies That
Own WeedCoin


Founding
Members

First Bitcoin Capital Corp

Publically Traded Company On OTC Markets Under The Symbol: BITCF


Links

View Us
On Cryptopia

View Our
Currency Site


Join Our Mailing List


Contact Us

Copyright @ 2018 BITCF

error: Content is protected !!