CBDoken is a Vienna-based company that plans to shock the CBD market with an alternative open and distributed marketplace via their cryptocurrency.
Tokenizing CBD products
Tokenizing CBD products will create a marketplace where prices will be determined by the public trading of the token on the exchanges.
The company claims to remove up to 80% unnecessary costs associated with the CBD distribution.
Using “proof of burn” will enable transparent communication via the blockchain, making data about supply available to everyone.
The primary goal of CBDoken is the worldwide distribution of publicly priced CBD.
Due to the whole controversy associated with cannabis, even wholly legit CBD extracts are not traded on the open market due to the risk for supply chain abuse.
CBDoken shows an incredibly high potential to mitigate two of the most significant contributors to high CBD prices.
The “CBD Full Spectrum Extract” that CBDoken will provide is of the highest quality extracts, with a minimum of 55% CBD concentration.
The product is highly competitive, and with the help of the proprietary ERC20 token, the company will be able to efficiently price and position their partner’s CBD product to the open marketplace.
"CBDoken" – ICO – | CBDoken is CBD backed cryptocurrency, targeting worldwide distribution of publicly priced CBD. CBDoken offers a viable, real-asset backed alternative | Website: https://t.co/KVXnKVuWDY on ✅ https://t.co/dPyT6UXq0G https://t.co/dTf1Nk5aJD pic.twitter.com/oBG3apIrUg
— ICOLINK.COM (@ICOLINKcom) July 2, 2018
No other company in the whole world has done this before, so this triggers tons of curiosity.
How does the token work?
After the platform gets launched the company will use the tokens as a representation of 1g CBD Full Full Spectrum Extract in stock.
The ratio between tokens and the stocked product will remain the same, as part of their smart contact will burn the tokens when an order has been made.
Burning the tokens basically means that they are getting destroyed at the point of sale, and the product is already on the way to the customer.
The smart contract connects the CBD manufacturer to the end users and will provide a clear path of distribution without the risk of inflating the price along the way.
You can learn more about the private sale details and the CBDoken community here.