Hackernoon logoWhy Paragon Coin matters for the $25 Billion Cannabis Industry by@WajihaTweets

Why Paragon Coin matters for the $25 Billion Cannabis Industry

Blockchain is the newest technological disruption that is taking all the other industries by storm. Some label it the invention of the century and some rank it at the top invention of this decade. Itโ€™s projected that in within the next 5 years, industries like retail, banking, food, logistics and technology will be explicitly dependent on blockchain to develop management via smart contracts and blockchain validation.

On the other hand, Cannabis industry is a major breakthrough within the leisure and the pharmaceutical industry. The medicinal benefits of cannabis are being accepted in scores of countries in North & South America, Europe, North and East Asia, it wonโ€™t be long before it becomes important driver for the rest of the world too. Currently the global cannabis Industry is pegged around $25 billion. The projections are that by 2025, it will be a $125 billion industry, which will include both recreational as well as medicinal cannabis. This in a vis-a-vis comparison means, the cannabis industry will be bigger than wine and carbonated beverages industry.

In 2017, a robust team of serial entrepreneurs announced Paragoncoin, it is one of the few cannabis related coins that will be the torch-bearer and the undisputed pioneer when it comes to cannabis and blockchain. The Paragon team, headed by Jessica Versteeg, is dedicated and enthusiastic to its cause of cannabis legalization. They have been working to improve their online platform in order to unite people for this cause, and this has given them a remarkable number of admirers and supporters. Their business model is unique, focused and reliable.

Backed by blockchain technology and a dedicated team, Paragon is very close to opening its cannabis-focused co-working space, Paragon Space in Los Angeles which has attracted hundreds of applications from emerging cannabis-businesses and start-ups who want to secure a space in a posh, luxury and urban yet affordable co-working space. It is bound to bring creative and innovative minds together to work for Paragon, even during bears, these milestones have already improved Paragonโ€™s rank from 600th Altcoin to 490th Altcoin on coinmarketcap, which is another positive-vibe for Paragon. These positive results are a sign that Paragon will flourish in the upcoming months.

As the government are legalizing cannabis, an increased awareness and compulsion is also being drawn towards transparency in growth, procurement and retailing of cannabis, this naturally has moved consumers, governments and other stake holders to establish transparent seed to sale tracking, Paragon coin also leads the game in this regard. Let us discuss what the other cannabis business are offering, we see Metrics, Biotrack, and MJ Freeway, all of which are quite unreliable at this stage. Metrics only provide data to the government and does not offer services to the industry itself. Biotrack is not supported by blockchain which is problematic because it does not provide a government tracking technology, and the government being responsible to ensure that the industry is informed on the technological limitations surrounding blockchain technology became a conflict of interest. As a result the government cancelled the contract.

Finally, MJ Freeway was unfortunately hacked and the source code was published. Despite of fixing this problem right after this happened, MJ Freeway got hacked again and they had to record their sales by hand. This was not only embarrassing but also caused its clients to lose credibility in the MJ Freeway coin. All this has made supply chain tracking a vulnerable business, but, Paragon coin has already touched base with this, a beautiful User interface Supply chain tracking system that ensures smooth ETH-based Seed to sale tracking is already on the brink of launching, in candid terms, there is no other coin that is doing this rapidly and efficiently as Paragon coin is doing it. Paragon coinโ€™s ETH-based blockchain solution ensures that there is no vulnerability, itโ€™s reliable and smooth.

Not surprisingly, it is quite evident how Paragon is moving up gradually and making its way to the top eventually. Paragon coin is going to be a leader for this $25 billion industry when it comes to blockchain, if we see 10% of the market adopt this technology in the next 5 years, this would mean a substantial amount of business is created for Paragon

Paragon Coin has launched its PRG space last night, it was a happening event at Hollywood, L.A. Check our the details here


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