2019 wasn’t just an incredible year for BitCanna, but it marked a significant step-change for the cryptocurrency sector as a whole. Throughout 2019, we saw mainstream outlets and consumers take note of smaller crypto tokens, as the world woke up to the tremendous power and scalability of decentralised apps and blockchains.
2019: A PIVOTAL YEAR FOR BITCANNA AND THE ENTIRE CRYPTOCURRENCY INDUSTRY
The level of development and innovation throughout the crypto industry in 2019, was the most exciting yet. Notable events included increased Bitcoin transactions times, Ethereum upgrades, and, perhaps most importantly, the launch of crypto products on the stock market. This was all taking place alongside numerous banks and financial institutes developing their own in-house blockchain solutions, as they too realised the potential and security provided by blockchain technology.
This renewed confidence in the crypto industry wasn’t by chance, though. A significant driving force stems from the increasing disappointment of traditional solutions. Barely a month passed without news of another hacked database, or compromised customer details from the likes of Netflix, Facebook and Adobe.
The crypto industry of old was seen in a new light by a community excited for the future. And, of course, BitCanna was at the forefront of development in 2019, launching its mainnet, and pushing full steam ahead with testing, coin distribution, and numerous exchange listings. The world would finally get its first glimpse of a functional payment solution purpose-built for the cannabis industry.
BITCANNA 2019 HIGHLIGHTS
We’re going to cover our most significant developments in more detail, but the list below gives you a snapshot of BitCanna’s success in 2019.
• 33 brand new Alliance partners
• Ico concluded and coins successfully distributed
• Mainnet V1.0 successfully launched
• Node and Lite wallet launched
• BitCanna available on two crypto exchanges
• Exclusive Indacoin partnership
• Visited Coindeal exchange
• Presented BitCanna at five international events
THE BITCANNA ALLIANCE REACHED OVER 70 MEMBERS
For any blockchain to be successful, it relies on one crucial aspect: an active user base. A vital part of BitCanna’s strategy is to work alongside the cannabis industry’s leading retailers. Not only will this help shape the functionality of the blockchain network, but it unifies the user base with thousands of incredible products and five-star services.
The BitCanna Alliance may have started as a handful of like-minded businesses, but it grew substantially in 2019. 35 companies became over 70, with the likes of EliteWeed, SeedSemillia, CBD Natural, HighHouse, Hanf Museum, Seeds of Love and dozens more joining. Every one of the BitCanna partners will support the use of BCNA tokens for goods and services, while taking advantage of the blockchains incredibly functionality both online and in-store.
BITCANNA MAINNET V1 LAUNCH: THE BEGINNING OF CANNABIS-RELATED PAYMENTS
Until last year, BitCanna was merely a concept. But with the conclusion of the ICO, and the launch of the BitCanna mainnet on the 23rd of July, that concept became a reality.
Although we fell just shy of our original BCNA distribution target, we still sold an astonishing 214,162,276 coins and raised over twelve million dollars. Those funds not only help sustain the network, but contribute to future development and marketing—a crucial aspect of the BitCanna roadmap.
Alongside the arrival of the BitCanna mainnet, we also launched desktop versions of our lite wallet (v1.0.0) and node wallet (v1.0.1). These tools are essential for the blockchain, as the lite wallet provides a simple and user-friendly experience. With the lite wallet, you can save time and storage space while still having unbridled access to the latest BitCanna features.
GROWING BITCANNA WITH CRYPTO EXCHANGES, INTERNATIONAL EVENTS AND EXCLUSIVE PARTNERSHIPS
There was no shortage of exciting partnerships in 2019! First up was our listing on crypto exchanges CoinDeal and Stex. Both exchanges have worked tirelessly to secure licensing, and prove that cryptocurrencies are a reliable way to pay for goods or services. By listing our BCNA coin, CoinDeal and Stex have significantly bolstered the support for BitCanna, making it a viable option to buy your tokens. However, our soon to be released payment solution by Indacoin, allowing for direct credit card purchase, will no longer require our investors and potential customers to head to the exchange to obtain their BCNA coins, which we believe is vital for user adoption, especially when you’re checking out in a webshop and want to pay for your order.
In an industry dominated by online communication, we couldn’t underestimate the power of face to face interactions. Realising the value meeting our supporters would bring to BitCanna, we embarked on an ambitious tour of Europe’s leading cryptocurrency conventions, and what an experience it was! We were blown away by the encouragement from both investors and the general public at the Cannabis Capital Convention, Cannafest, Malta Blockchain Summit, Blockchain Convergence Malaga, and Cannadouro Porto in Portugal.
LEARNING FROM SETBACKS AND CHALLENGES
We’ve talked a lot about the success of BitCanna in 2019, but there is still a tremendous amount of work needed for the blockchain to truly revolutionise the cannabis industry. The dev team has, and still is, working around the clock to address and rectify issues with the blockchain. While it is essential to release new features as promised in the roadmap, it’s equally important to ensure a stable blockchain network going forward.
You can read more about the work taking place here, but to summarise, in Q4 of 2019 our priorities included fixing bugs in the node wallet, orphaned blocks, and inconsistency in block rewards. Don’t worry though, these fixes are well underway, and Q1 of 2020 promises to be an exciting time for consumers and businesses with the launch of BitCanna Mobile and BitCanna Business immanent.
LOOKING TO THE FUTURE: 2020 AND BEYOND
2019 was an action-packed year for BitCanna development, with 2020 promising to take features and functionality to entirely new levels. As we’ve alluded to, the beginning of the year will see the release of BitCanna Mobile and BitCanna Business.
BitCanna Mobile is a revolutionary feature that will allow BitCanna users to access their wallet and point of sale payment options from Android and Apple devices. And BitCanna Business will unlock the purchase of BitCanna tokens using a credit card while completing your order. However, to ensure these features provide the best possible experience, BitCanna Business will be trialed by selected Alliance members before a mass rollout.
The remainder of the year will see further improvements to BitCanna mobile, the payment modules and the integration of the supply chain layer into the BitCanna mainnet. And, of course, we will continue to expand the BitCanna Alliance, further strengthening the incredible network of companies we’ve already established.
From the entire team at BitCanna—thank you! Your continued support is crucial to realising the potential of BitCanna. But if you thought 2019 was an exciting year for us, stay tuned for an unbelievable 2020, we’re only just beginning.