Cryptocurrency isn’t just a buzzword. For some, it’s a way of life and the future of money. So what is Cryptocurrency? Cryptocurrency is a digital or virtual currency that uses cryptography for security and anti-counterfeiting measures. There are now over 1,000 cryptocurrencies on the market as of the 2017 CBD coin launch.
CBD Coin is an ERC20 token with the goal of becoming the most usable. And accepted cryptocurrency in the cannabis industry. It will exist as a bridge between crypto and cannabis users worldwide. Bringing together two industries on opposite sides of the spectrum.
And how it will make an impact in both industries, please continue reading!
What is Cryptocurrency?
Cryptocurrency, in short, is a digital or virtual currency that uses cryptography to secure and authorize transactions.
Unlike traditional forms of money such as dollars and euros. cryptocurrency isn’t regulated by a central bank like the Federal Reserve.
What is CbdCoin and how will it work?
Cannabis is a hot topic in the U.S., and CBD products are a booming industry.
CBD coin launch is a compound found in cannabis. Has many therapeutic benefits without getting you high.
CBD Coin is a new cryptocurrency that can be used to purchase products from dispensaries and online dispensary sites. As well as other goods and services from the cannabis industry. CbdCoin will exist as a bridge between crypto. And cannabis users worldwide. Connecting two industries on opposite sides of the spectrum.
This cryptocurrency will use ERC20 tokens, which are tokens built on Ethereum technology for use with smart contracts.
A new way to spend money on legal cannabis products.
Who is behind this project and what do they hope to achieve?
The founder of CBD Coin, Raphael Mechoulam, is a leading expert in cannabis and cannabis-related research. He first studied cannabis in the early 1960s as a part of a team at Hebrew University. His research helped to identify the two main cannabinoids: THC and CBD.
A few years later, Mechoulam made a groundbreaking discovery by identifying the chemical structure of THC. This was an important key to unlocking some of the therapeutic benefits of cannabis. In 1992, Mechoulam discovered that cannabinoids. Have an interesting effect on pain perception and multiple other physiological processes via receptors in different areas of the brain.
In 2003, Mechoulam joined forces with some other scientists to start a company called Kalytera Therapeutics Inc. Their goal is to develop new drugs for unmet medical needs using cannabinoid research. They are also focused on developing cannabidiol CBD therapeutics. That can help people who suffer from chronic conditions like cancer or epilepsy.
Why do we need a cannabis-focused cryptocurrency?
Cannabis is a large and growing industry. In 2016, the legal cannabis market was estimated to be worth $6.7 billion. And is projected to surpass $50 billion by 2023. This is a testament to the vast growth of this industry as well as its potential for future success.
In recent years, many new cryptocurrencies have been created with the hopes of solving various global problems. The problem. These cryptocurrencies are that they don’t focus on a specific niche or industry as their target market.
So it’s difficult for them to become successful in any single area—or any area at all! CBD Coin targets the cannabis industry specifically and solves several problems at once.
With CBD Coin, there will no longer be limitations on what you can buy with cryptocurrency. Making it an ideal currency for those who want to spend their crypto on cannabis. Products without having to exchange back into fiat currency first.
What is the outlook for CbdCoin?
The CBD marketplace is predicted to generate $22 billion in revenue by 2020. With these numbers, it’s easy to see why Cryptocurrencies are proving so popular. CbdCoin will bridge the gap between this new technology and the cannabis industry.
CbdCoin has a bright outlook due to its growing market. Successful business model, and keen understanding of current trends in the crypto and cannabis industries. This year alone, CbdCoin has made partnerships with two major dispensaries; one in Colorado and one in California. Moving forward, there are plans for expansion into Canada and Europe next year.
Conclusion
The idea behind the coin is to provide an alternative method of payment for cannabis consumers.
There are many different payment options available for cannabis consumers. But Cbd Coin is looking to provide a more secure and anonymous way of purchasing cannabis.
CbdCoin is still in the development phase, but it has a promising future.
If you are interested in investing in this cryptocurrency, be sure to do your research before investing.
