It’s no secret that cryptocurrency is the future of the cannabis industry. It provides a safe alternative to both customers and dispensaries who don’t want to deal with the implications of using cash for their transactions. This is where ICOs (Initial Coin Offerings) come into play. There are two brand new ICOs that are looking to dominate the cannabis industry: GreenMed and Paragon. On the surface, both might seem exactly alike, especially if you don’t have a lot of prior knowledge of how cryptocurrency works, and terms like “blockchain” are a mystery to you. After you scratch the surface, you can see that the two ICOs are in fact quite different.
Each company is different when it comes to their applications. GreenMed is centered on the transactions made between cannabis consumers and cannabis companies, thus building the relationship between customer and dispensary. Customers can rest assured that their transactions are as discreet and convenient as possible. Paragon operates on a broader scope using smart contracts, which can of course be utilized by the entire cannabis industry, not just dispensaries and customers.
GreenMed already has backers like the site ilovegrowingmarijuana.com, perhaps best known for the essential growing guide The Marijuana Grow Bible, onboard for full implementation of GreenMed services. They have also gotten the support of the Clinik Caregivers dispensary in LA. Pre-sales of GreenMed have been a huge success. Sales are going on for another three weeks, so now is definitely the time to get onboard! The app offer discreets deliveries directly to your door, a definite bonus for medical users. You also have the option of pre purchasing your goods at the dispensary beforehand and picking them up. It’s like carryout except for cannabis. Perhaps the best news of all: the technology is also very strong. Each sale using GreenMed increases it in value. If the exchange rate changes, participating vendors can opt in for “automatic conversion of the GreenMed Token to USD, upon receiving them from the client.” This way you don’t have to worry about losing any money due to constantly fluctuating exchange rates.
Paragon has had a lot of hype. It was even endorsed by rapper The Game and apparently Paris Hilton. The ICO advertises all over Facebook and CEO and face of the company Jessica VerSteeg is a very attractive woman, which draws a lot of people in. GreenMed has not had generated as much of a buzz. There have been no major endorsements from celebrities. On the other hand, Paragon has generated a bit of bad press after being accused of falsely inflating their numbers and deleting negative comments on a Reddit AMA.
Greenmed has had no such controversies, which is much more important to me than big celebrity endorsements and social media presence. I’m gonna go with GreenMed on this.