Cannabis cultivation and cryptocurrencies. There’s a few words I bet you didn’t expect to read in the same sentence. If that’s the case I’m going to take a further bet and guess that you’re unaware of the Paragon coin or their future plans, so let me enlighten you.
Paragon are a crypto startup company who intend to completely overhaul the rapidly growing and highly lucrative cannabis industry by essentially using their blockchain technology to lay the foundations for a regulated and trusted ecosystem which allows for applications to easily access information which is stored on the blockchain. This information could be anything from a specific strain of Cheese’s current crop circulation, to the difference in potency between sativas and indicas (depending on how the system is utilised once implemented).
The company has been getting more good press than Pugg-saving hipster who brews gluten free coffee out of the loo juice in the bogs at Reading Festival’s blue camp. To name a few, they have been featured in the likes of Forbes, Bloomberg and Yahoo Finance, and have even received the backing of rapper The Game (a rapper that was part of 50 Cent’s G-Unit then threw his toys out of the pram and kind of became irrelevant other than in the West Coast of USA – Where weed is legal in a few states).
As with the majority of blockchain based projects, the benefits of the Paragon ecosystem are mostly inline with the instantaneous access of highly incorruptible information and superior anonymity for registered patients when compared to traditional centralised database systems.
Further to the above, Paragon want their wallet application to hold the hand of medicinal marijuana patients throughout their entire journey from scheduling an appointment with a registered doctor to selecting a strain and paying in a dispensary, every step being verified by their blockchain technology.
As everybody who has every been stoned as biscuits will know, weed makes people sociable and unable to not indulge in the inevitable bout of talking utter shite to anybody with half a set of ears within a 10 meter radius (myself included). With this in mind, well, probably not the talking shite part, Paragon have also made plans to launch an online community which implements a voting system costing .01 PRG (the coin they’re issuing) per vote.
The voting system could be interesting as you would think people will be a lot less likely to up-vote something if it is costing them money. This theory, I guess at least, is the basis of Paragon hoping to utilise the online community to assist with development and research.
The final, possibly most notable, facet of the Paragon product is their plan to build “a chain of high-tech, fully equipped ParagonCoin Centres in all 29 States where cannabis is legal”. I guess you’re wondering what exactly will be in these centres, well, according to the website, they will have everything from a place to take pictures of bud and talk to investors, to a social club and cafe for members of the Paragon Coin Club.
If all this sounds like it’s something you’d like to rollup and take a rip of have a wee looky looky at the details below and check the whitepaper!
- TOTAL TOKEN SUPPLY: 200m
- PRE ICO: Completed
- PRE ICO TOKEN ALLOCATION: 70m
- STAGE 1 FULL ICO START DATE: September 15th 2017
- STAGE 1 FULL ICO CLOSE DATE: October 15th 2017 or when all tokens are sold
- STAGE 1 ICO TOKEN ALLOCATION: 100m
- STAGE 1 ICO BONUS: Price increases $0.05 per 24 hours
- STAGE 2 FULL ICO START DATE: No sooner than the year 2021
- STAGE 2 FULL ICO TOKEN ALLOCATION: 50m
- PARAGON WEBSITE: https://crowdsale.paragoncoin.com
Please remember that this article is not to be taken as any form of investment advice and that you should do your own research before investing your hard earned cash into anything.