A behind-the-scenes look at the BitCanna network.
Two worlds colliding
The legal cannabis industry has always been pestered by crooked legislation, uncooperative banks, and exclusion from various global platforms. This is something that has always been an obstacle for any organization somewhat related to cannabis.
This is exactly where blockchain comes in. A non-discriminative technology that lets anyone run their organization that transcends the old-fashioned banking system.
As the legal cannabis industry has been growing exponentially and so has the crypto space. BitCanna finds itself in a unique opportunity to bring these worlds and their communities together.
BitCanna currently has a payment system in place that is already being used by some of the largest organizations within the cannabis industry. After their launch to the Cosmos-network the team claims it will be able to roll out its systems on a large scale within the industry. A system that benefits both the organization as its users in privacy protection and availability.
I’ve been lucky enough to be selected to participate in the BitCanna testnet. Therefore I’ve experienced the network first hand and even though we are right in the middle of it, I’m very impressed with the team and the way it is organized.
This combined with the fact that so many professional validators and staking organizations have joined confirms the potential of the BitCanna network.
So as I’m part of the testnet, besides testing out all features the chain will provide, this also grants me the ability to be in very close contact with the team. The team which seems to a combination of cannabis and tech enthusiasts are very approachable and always ready to help where needed.
BitCanna’s future is bright in my opinion with many exciting things to come. Some of the industry's largest names like Zamnesia and Royal Queen Seeds are already fully operable on the BitCanna payment system.
BitCanna’s CEO Jan answered many questions of the community in a recent AMA, hosted by Reddit’s /r/Cosmosnetwork. Here the future of the project was also discussed.
On the question of what the future holds and what real-life problems the chain aims to solve the answer was as follows;
“We aim to tackle 3 major issues within the industry.
- Unbanked businesses
- Unclear Origin of product
A fast and decentral network (5s blocktime in our new Cosmos network) to settle payments both on- and offline instantly. No more cash problems for unbanked cannabis businesses.
A supply chain layer built on our network to track the origin of legal cannabis products to improve transparency and product quality; clear insight into production, transportation and financial flow of the market.
A trust & reputation layer; including a business analytical tool, inventory management, loyalty program, secure identity platform, rate and review system.”
-BitCanna CEO, Jan
All in all many exciting things to come and a project to keep an eye on.