Crypto Token Backed By Cannabis Facilitates Transactions For CBD Growers And Buyers
Cannabium is the first product-backed cryptocurrency in the cannabis industry, and hopes to become the standard of payment between producers and buyers of medical cannabis
A new crypto token called Cannabium, backed by cannabidiol (CBD), is launching through a user-friendly platform. Cannabium’s network offers information about past transactions and statistics in an effort to provide transparency and simplify the process of buying CBD for those who produce, sell and buy the commodity.
CBD has seen increased use over the past months, thanks to cannabis regulations that allow for medical marijuana, for which the market reached $3.2 billion in sales last year. The goal of Cannabium’s platform is to become the standard method of payment for medical cannabis by creating a safe, balanced and globally accessible digital space for producers and buyers. It constitutes the first product-backed token in the cannabis industry, and is currently supported by production partner ONE Colombia, a CBD farm conglomerate in Colombia.
Lead image: Cannabiumco via Facebook