Written by: Daniel Daboczy
CANNA (The CanCoin) is now also listed on 3 exchanges
The cannabis industry is growing at a rapid pace, but you know this. Interesting enough, we at L.A. Cannabis News just wrote that the EU legal cannabis industry is about to surpass the US legal industry.
The team behind The CanCoin (CANNA) are: Daniel Daboczy, European crowdfunding veteran, with David Bonnier and Amaury de Poret, the co-founders and investment managers of Enexis, one of the first cannabis investment companies in Europe, and Technicorum Sweden/Singapore one of the leading global crypto advisors.
When the team saw what unnecessary issues the current banking and payment system has for the cannabis industry, they saw that this can be solved with a proper cannabis industry token and smart FinTech tools.
The CanCoin team aims to offer you in the industry a wallet (Google Play already launched) and a method to use CANNA as partial or full payment onwards instead of you using a plethora of payment methods that charge high fees, can block your account or create messy situations instead of supporting our fast growing industry. Partial payment in CANNA for services and goods are already available and happening so check them out.
The CanCoin team understands that the industry needs to hold, use and offer the CANNA token for its faster adoption rate and usage. Therefore they offer a very generous onboarding offer for companies keen to potentially use CANNA as their payment gateway. They offer 100,000CANNA tokens for free right now so make sure to sign up fast. 1 CANNA is roughly 0,05USD now but has been between 0,13USD and 0,03USD in the last 3 weeks. https://thecancoin.com/company-partner-sign-up/
There is no denying that the cannabis industry has made a stride into the legalization and growth in the industry. Legal cannabis broke new ground in many ways which includes countries legalizing the recreational and medicinal use of cannabis. The legislation on legal cannabis is currently spreading at three times the rate of North America. Over 375 million Europeans have access to medical cannabis and this figure is expected to grow exponentially over the next five years with the increase in legal cannabis sales projected to grow from $30 billion in 2020 to $95 billion by 2025.
Businesses within the cannabis supply chain such as manufacturers, distributors, payment providers within the cannabis industry have grown and have evolved to adapt with the ever changing regulation. As the legal cannabis industry continues to establish itself, more established companies outside the cannabis industry enter the cannabis business offering sound and smart tools that perhaps have been earlier kept out of our industry, for instance all FinTech tools.
Businesses dealing within the cannabis sector face tremendous challenges with the financial institution. Companies have limited access to capital and have to rely on cash which then limits the potential business expansion. Large financial institutions are unwilling to take the risk of getting involved as regulated financial institutions could be penalized for working with cannabis companies due to the Controlled Substance Act. Although most cannabis businesses have access to smaller banking, this does not solve the challenges associated with payments. Many operators are forced to accept cash to transact with customers and suppliers which is inefficient, costly and unsafe for both businesses and consumers.
Cannabis is becoming more accepted in society, we have seen the legality of cannabis for medicinal and recreational purposes, some still see cannabis as an illegal substance. To overcome the stigma, large scale financial technology and marketing companies came up with strategies to promote the acceptance of cannabis into the society.
About the CANNA wallet
The CanCoin project had recently launched its blockchain CANNA mobile wallet that supports cryptocurrencies in multiple networks such as ETH/xDAI/BSC. The CANNA wallet aims to make cryptocurrency accessible to anyone by providing seamless transactions within the $CANNA ecosystem through KingSwap and PancakeSwap DEXs (Decentralised Exchanges). The Cancoin wallet is designed with built-in cryptocurrency real-time price feed for most digital assets. The convenient all-in-one wallet provides direct access to updated pricing information of their $CANNA and NFTs and helps users to manage token addresses for quicker transactions including trading and access to DApps (Decentralised Applications).
Published: November 01, 2021
Founder & Interim Editor of L.A. Cannabis News