JIBBIT – Blockchain meets cannabis
Currently, 21% of the US population lives in states where smoking marijuana is
legalized. The recreational use of cannabis is fully legalized in 8 states and in the
District of Columbia, in 28 states marijuana can be purchased for medical
purposes. Dozens of medical studies are conducted to confirm the useful properties of marijuana. All this generates a huge public resonance.
The process of using marijuana becomes a cult. According to polls, about 60% of
Americans support the full legalization of cannabis throughout the country. Now
the marijuana market is in a transitional stage until full legalization, we believe
that the technologies implemented by our company will have a significant
impact on this process, and this will help us become the undisputed leader of
First, the introduction of blockchain technology will make the process of
research, testing, and certification of products as transparent as possible.
Secondly, the partnership network of JIBBIT, where everyone has a voice, will
have a significant impact on the development of the industry.
Thirdly, participation in investment of start-up projects of the industry will
strengthen the capital adequacy of the fund, which will ensure a stable increase
in the cost of the JIBBIT token on crypto-exchange sites.
Fourthly, the use of JIBBIT tokens in the network reduces expenses and,
consequently, the price of the final product.
In 2016, residents of the United States and Canada spent 53.3 billion dollars to
buy marijuana, including legal purchases for medical purposes. According to
ArcView Market Research, this is more than the North Americans spent during
the year in fast food restaurants McDonald’s and Starbucks.
The marijuana black market is losing ground, the purchase of cannabis is
gradually legalizing – consumers are spending more money on legal purchase of
cannabis, but this process is still rather slow.
The North American market of legal marijuana in 2016 amounted to about 7.1
billion dollars, which is 30% more than in the previous year. At the same time,
most of the marijuana was purchased on the black market, but its share for the
year fell from 90 to 87 percent.
These figures show that the legal marijuana industry is growing rapidly, but the
black market is growing even faster and receiving the lion’s share of revenues.
The cannabis market is growing significantly faster than other consumer
markets, such as food, home video or gadgets.
We can say with confidence that the market of legal marijuana is still in its
infancy and has a huge potential for development.
JIBBIT is organized for the complex solution of the legal market of marijuana.
The introduction of block-chain technology based on the use of intellectual
contracts will ensure full transparency of relations between members of the
JIBBIT’s main activities:
• Creation of a single partner network of legal marijuana market participants.
• Creation and maintenance of unified standards for certification, licensing,
laboratory testing, distribution, and control over the turnover of products of
members of the partner network using blockchain technology.
• Creation and development of own payment system for suppliers and
buyers of products based on the JIBBIT token.
• Provision of financial, consulting and legal support to new participants in
the marijuana industry by buying shares of these companies.
THE GOAL OF JIBBIT
Jibit’s main goal is to associate the fast developing cannabis industry with the crypto world; it is also to make the advantages of blockchain technology available. Jibbit tends to make payments with cryptocurrencies on an overall basis, which seems appropriate for everyday use. Moreover, Jibbit is presently working together with accomplices on further blockchain based solutions in the area of healthcare and payment, fundamentally to advance the utilization of cryptocurrencies.
One of the exceptional developments in the medical system will be exclusively on the blockchain based solution for forgery-proof therapeutic prescriptions. The blockchain tends to give the technological devices for us to make a Jibbit ecosystem. In this system, suppliers, producers, and consumers can locate each other. Each and every exchange is stored and encrypted in the blockchain, and is open to everybody as at when required. However, it is almost impossible to have any falsification or adjustment of the blockchain’s stored data.
Through the clients’ participation in Jibbit token sale, they have the chance to support Jibbit and to help reform the cannabis market around the world, and also advance its legalization. This will, however, enhance the world’s poor image of cannabis. With almost 200m people, the cannabis community is one of the largest community on the planet.
The Jibbit token (JIB) expands on the Ethereum network and will follow the ERC-20 standard, which plays a very important role in the Jibbit network. The token sale will occur on www.jibbit.io and is required to begin on 1st of June 2018. It is expected to end on August 31st, 2018 or when it reaches the hard cap limit of roughly 18 million USD.
For more info about this platform, and also to join the network, endeavor to visit:
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1048360