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The global cannabis industry has been inhibited by regulatory restrictions for most of recent history, but the legal market has emerged rapidly as more governments legalize medical and recreational use. Due to the ‘shady’ image of the business, most banks, credit card companies, and payment providers won’t handle the money generated by the cannabis industry, even in places where it is completely legal. This leads to inefficient and costly solutions such as high bank fees and cash transactions, which only add to the shady image of the industry.
To address this problem, BitCanna will provide a decentralized payment network for the legal cannabis industry, by means of the BitCanna Coin (BCNA). BitCanna has already set up agreements with major companies in the European cannabis market, forming the BitCanna Alliance. The BitCanna Alliance works with legislators to solve the current paradox in the market. By implementing supply chain management and a trust & reputation layer, BitCanna aides legislators in creating a healthy and transparent cannabis market.
Partners of the
The BitCanna Alliance is an initiative from leaders in the cannabis industry to connect cannabis businesses through the BitCanna platform. 50+ partners already signed up, if you are operating as a cannabis related business we’d like to invite you to join the Alliance as our partner.
The BitCanna consumer application will create an all in one cannabis hub where consumers arrange their purchases, locate the nearest cannabis shop, find their favorite strains, view the best product offerings, learn about the product’s origin and more.
The first phase of the project is to create a decentralized payment network to solely serve the cannabis industry. The main goal is to provide an alternative payment solution for unbanked businesses that is more cost-efficient than the current payment options. This payment system will be built around the BitCanna token (BCNA) which is a digital currency that acts as a means of exchange and the unit of account on the BitCanna blockchain. The main net will go live directly after the ICO’s time limit is reached, July 1st 2019.
In practice, BitCanna envisions a decentralized payment network in which payments will run directly from the customer to merchants — no middleman. The BCNA token will be a decentralized digital currency that is secure, fast, easy to use and in compliance with local regulations. Since blockchain ledger records are immutable and transparent, this will be perfect for financial institutions looking to audit cannabis companies, as well as government institutions looking to properly tax marijuana businesses and regulate the industry.
In the second phase of development the mainnet will be integrated with the supply chain layer. The BitCanna blockchain will be expanded with track and trace monitoring functionalities, allowing traceability of the entire supply chain of cannabis, and cannabis-related products. The main goal of phase two will be to create a more efficient supply chain network for businesses and simultaneously build more trust, as well as a new level of transparency within the cannabis industry.
While the market is closely monitored with growing interest by government regulators. BitCanna will contribute to the creation of a trustworthy market, for which transparency is of the utmost importance. By phase 2, the distributed ledger will provide all users a clear insight into the production, transportation and financial flow of the market. This technology for many working in the industry include producers, distributors, shippers, government agencies, and consumers.
In Phase 3 a trust and reputation layer will be integrated into the blockchain and a variety of applications will be developed on top of this layer. These applications will further incentivize the network, improve business efficiency and transparency, and better the customer experience.
Some practical examples of the applications are business analytical tools, inventory management and loyalty programs. Furthermore, a secure identity platform complementing a review and rating system will be developed for all partakers in the BitCanna network. BitCanna will provide a platform for all links in the supply chain, from farmer to end-consumer, to build the trustworthy reputation they deserve.
Find the best BitCanna offers by online and offline shops.
Shop & product reviews
Review shops and products and find trusted reviews by other consumers.
Supply chain transparency
Find out about the origin and quality of products.
Easy to use wallet for near instant payments.
BitCanna offers near you
Find the best offers by physical stores near you.
Upload your ID securely on the blockchain for easy verification at shops or cannabis clubs and to build a trustworthy reputation.
Use of funds
40% of the funds
is reserved for product development.
30% of the funds
is reserved for communication and marketing.
20% of the funds
is reserved for unexpected operational costs.
5% of the funds
is reserved for legal costs.
5% of the funds
is reserved for unexpected costs.
Phase 1: Global payment solution
- Research market & opportunities.
- Business case studies and solution brainstorming.
- First meetup with the founder, core team, and development team.
- BitCanna project launch.
- Advisory board formed.
- Outline the BitCanna concept.
Whitepaper 1.0 & Website build.
Start development of the BCNA blockchain.
Start development hardware payment solution.
Whitepaper & website release.
- Start B2B pre-sale.
- Whitelist registration period.
- Start private sale.
- Start public sale.
- A pre-marketing campaign, approaching 10.000.000+ monthly visitors from partners.
- Continuous; expanding the BitCanna Alliance.
- Testnet live- Alpha version
- BitCanna presents itself at multiple major conferences
- Testnet launch – public Beta version
- Launch world-wide marketing campaign.
- End of the public sale
Launch mainnet BitCanna v1.0.
Launch Lite Wallet, Node Wallet.
Launch BitCanna Business v1.0 (basic version containing online payment plugins).
- Exchange listing.
First webshops within the BitCanna Alliance will start accepting BCNA coins after the ICO.
Update BitCanna Business v1.0
Phase 2: Supply chain
- Continuous expanding of the BitCanna Alliance.
- Internal testing phase of Mobile wallet v1.0 (Android).
- Launch purchase of BCNA with credit card solution.
- Launch Bitcanna Mobile v1.0
- Update BitCanna Business v1.0
- Pilot payment module at first partner
- First webshops within the BitCanna Alliance will start accepting BCNA coins.
- Update BitCanna Mobile with additional functionalities:
– BitCanna Maps
– Database of cannabis dispensaries and strains
- Update BitCanna Mobile with additional functionalities:
– Integration of the advertisement platform. Allows for direct advertising to customers based on geolocation.
Phase 3: Trust and reputation
- BitCanna v2.0 goes live. Integration with supply chain layer.
- Launch of BitCanna Business v2.0
- Integration of supply chain monitoring which allows businesses to manage and audit their inventories.
- Launch BitCanna Mobile v2.0.
- Integrate supply chain monitoring which allows customers to scan products, and find information like origin and quality of their desired products.
- BitCanna 3.0 goes live. Trust & Reputation layer integrated with mainnet.
- Launch BitCanna Mobile v3.0.
- Integration of customer reviews with blockchain-based integrity.
- Integration of encrypted identity.