CannaSOS Corp, an internet technology organisation based in Toronto, believes that its digital currency, PerksCoin Tokens, is going to be the future of selling and buying cannabis. The core premise is that PerksCoin Tokens will be utilised among an online network of consumers, dispensaries, doctors, producers and providers of medical cannabis, using the blockchain for security.
Co-founder of the company, Daniel Cheine, compared the system to a less volatile version of cryptocurrency giant Bitcoin, while enjoying a simplified payment system akin to PayPal, with the blockchain technology allowed for transaction times of only a few seconds.
Users of the service will be able to conduct their own research based on independent studies housed at the CannaSOS website, and share their own success stories about medical cannabis. From the point of view of dispensaries, dealing in transactions with cash can leave many of them open to robberies, whereas PerksCoin Tokens will be entirely secure. From the consumer’s point of view, little will have changed: it’s just an alternative currency to pay for an alternative medication. Moreover, customers are rewarded for using the currency in the form of more Tokens.
With plans afoot to legalise marijuana in Canada in the summer of 2018, CannaSOS has every expectation that its currency will receive a considerable boost in interest and investment as the year moves on.
Some economic experts are doubtful, however, with many believing that, when it comes to conducting transactions for drugs – medical or otherwise – cash will always reign supreme. According to one expert, cash provides a level of anonymity for users wishing to hide their consumption of cannabis, which even cybercurrencies are currently unable to match. No matter how secure the blockchain and how convenient the transaction process, there will always be a paper trail and many users of cannabis will be naturally hesitant.
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