Amsterdam was once the cannabis capital of the world, but no more. The European city famous for its canals and red-light district has been joined in recent years by other cities, countries and regions where cannabis has made great leaps and bounds towards legalization either on medicinal or recreational grounds.
This recent shift in policy is the reflection of an equally dramatic shift in public opinion, which is increasingly coming to recognize the medicinal potential of cannabis and in some cases even reject the opposing anti-drug arguments. Alongside this proliferation of cannabis legalization in its various forms, blockchain technology is opening an entirely new realm of expansion and development that’s carrying the legal marijuana trade into the future.
Cannabium is just one of these many blockchain-cannabis initiatives and aims to establish their unique crypto token as the standard blockchain payment for cannabis extract CBD (more on that later). Cannabium’s goal is to create an approachable, transparent marketplace and set an equilibrium between producers and buyers with smart contracts.
There are a plethora of cannabis-related ventures on the blockchain market, including Gana, GreenMed, Pavo, Ganja Tokens, Nezly and more, but Cannabium stands out as unique in three key areas:
1. Cannabium is backed by a real-world product: the valuable CBD extract. Extracting CBD is like taking the best of marijuana’s medicinal potential and separating it out from the psychotropic effects present in THC and other cannabis compounds. Take a wild guess what Ganja Coin, Hempcoin, Blazercoin, and Sativacoin all have in common. They all have their own crypto coins or cryptocurrencies geared towards the marijuana market, just like Cannabium. But Cannabium is the only cannabis blockchain venture to tie its token to a real product with inherent value in the real world. What’s the difference?
Backing a cryptocurrency with CBD adds an extra layer of stability to Cannabium that none of the other cannabis coins can claim. In fact, very few cryptocurrencies of any sort benefit from that sort of security. As they continue to mature through their growing pains, cryptocurrencies are famous for their volatility — a threat that is greatly reduced with Cannabium’s model.
2. Cannabium deals with CBD, not in cannabis itself. Kushcoin, Smoke Exchange, Growers International and all the other blockchain entreprenuers in the cannabis industry promote the usage and circulation of the marijuana plant itself. The CBD backing Cannabium is the base ingredient for a wide range of products believed to have medicinal qualities without any of marijuana’s psychotropic effects.
3. Private investors get an opportunity for a cash settlement. Cannabium investors who meet certain criteria have the option to cash out, in which case Cannabium will buy back tokens for the wholesale price. It’s another unique feature for a cannabis-focused blockchain venture and on top of being backed by CBD reduces the risk of investing in Cannabium.
There are lots of cryptocurrency options for investors who also support cannabis. For those who support its medicinal benefits and want to moderate risks in the long run, Cannabium is the only real option.
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