All About Quannabu, the Cryptocurrency Built for the Cannabis Industry

Forum 3 years ago

All About Quannabu, the Cryptocurrency Built for the Cannabis Industry

In 2019, service provider processor Citadel Cost Applied sciences announced that it might not be capable of settle for Visa bills for cannabidiol (CBD) connected merchandise. The announcement handiest gave traders 8 hours’ understand of the exchange, this is only one instance of the various monetary hurdles that the hashish business has confronted when looking to procedure transactions for cannabis-related merchandise.

Sadly, as a result of regulation and laws within the hashish business are nonetheless evolving, the business is constantly coping with those stumbling blocks. To keep away from any imaginable dangers, even in spaces the place hashish is now criminal, maximum banks, bank card corporations, and fee suppliers will keep away from running at once with hashish transactions.

Because of difficulties confronted with transactions, many companies are susceptible to make use of money as their usual fee way. Alternatively, storing money gifts a complete host of issues for companies. Now not handiest are companies’ safety compromised with the larger risk of robbery, but in addition their worker’s protection when transporting money.

To offer a strategy to the issue the hashish business has been dealing with, London-based startup Quannabu has introduced a decentralized fee community for cannabis-related transactions at the blockchain. Quannabu additionally has a fee platform referred to as Quannabu Pay, which is constructed at the blockchain and permits companies and customers to seamlessly switch finances with none monetary hurdles.

The corporate’s monetary resolution for the hashish business is not going to handiest have its personal type of cryptocurrency, but in addition a protected infrastructure in position. Since regulation continues to be a piece in growth for lots of nations, laws are repeatedly converting and feature created a fancy and now and again disjointed provide chain. Which means government have a tougher time monitoring the provision of hashish.

Due to Quannabu’s blockchain era, the corporate has created a product that minimizes criminality by means of permitting regulation enforcement to trace the supply and provide of all hashish merchandise. Which means governments can observe the motion of hashish and forestall any illicit stream in its tracks, growing more room for a more secure and controlled market.

The transparency into the provision chain that Quannabu supplies is not going to handiest building up provide chain visibility to regulation enforcement, but in addition customers, producers, and providers. Via this resolution, the corporate is expanding consider and making a more secure business as a complete.

Along with the corporate’s provide chain resolution, token providing, and protected fee platform, it additionally operates Quannabu Labs, a groundbreaking checking out laboratory this is devoted to CBD-related actions off and on the blockchain—the one operation of its type on this planet.

Finally, the corporate may be running against setting up its very personal hemp farm, to farm pharmaceutical-grade hemp. The ability can have qualified checking out apparatus so it might constantly and as it should be check its crops.