• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • HOME
  • NEWS+OPINIONS
    • NEWS TO US
    • COLUMNS
      • APPARENT HORIZON
      • DEAR READER
      • Close
    • LONGFORM FEATURES
    • OPINIONS
    • EDITORIAL
    • Close
  • ARTS+ENTERTAINMENT
    • FILM
    • MUSIC
    • COMEDY
    • PERFORMING ARTS
    • VISUAL ARTS
    • Close
  • DINING+DRINKING
    • EATS
    • SIPS
    • Close
  • LIFESTYLE
    • CANNABIS
      • TALKING JOINTS MEMO
      • Close
    • WELLNESS
    • GTFO
    • Close
  • STUFF TO DO
  • TICKETS
  • ABOUT US
    • 5 DOUBLE-U’S
    • MASTHEAD
    • DISTRIBUTION
    • ADVERTISE
    • SUBMISSIONS
    • PRIVACY POLICY
    • Close
  • BECOME A MEMBER

Dig Bos

The Dig - Boston's Only Newspaper

CURRENT STREET EDITION

DIG 23.02 – 1/28/21

BLOCKCHAIN REACTION: CANNABIUM CEO EXPLAINS TRANSPARENT CBD MARKETPLACE

Written by CITIZEN STRAIN Posted August 4, 2018 Filed Under: COLUMNS, Shop, Talking Joints Memo

 

A few weeks ago, recovering rebound king Dennis Rodman showed up in the cable news rotation to speak in his capacity as an expert on US-North Korea diplomatic relations. Since he was sporting a T-shirt for the Canadian peer-to-peer payment PotCoin, we offered a brief pedestrian intro to the wide world of cannabis cryptocurrency including düber (DBR), a token that “incentivize[s] and improve[s] information exchange in the cannabis community [between] consumers, retailers, labs, processors and growers,” as well as others, including Smoke, Paragon, and GreenMed, which markets itself as “the world’s first ERC-20 Ethereum token backed application enabling customers to purchase Legal Marijuana using their Debit or Credit Cards.”

 

While you’re not mistaken if you have detected snarkiness in our coverage of this issue thus far, there is nonetheless a part of us that thinks it is important to keep up on these things. It’s a new economy inside another new economy, and explainers are needed—even for those of us who aren’t clicking crypto trade mags all day. On that note, we reached out to Tchia Alona Altar, CEO of Cannabium, whose angle is that it’s establishing “the benchmark for the medical cannabis extracts industry by using the power of blockchain to create a transparent and traceable commodity market” and representing “the first product-backed cryptocurrency in the cannabis extracts industry.”

 

We basically asked, What does that all mean?

 

What’s your elevator pitch? How do you explain this to people at a party?

Cannabium is a decentralized blockchain solution for the cannabis extract industry. Our approach enables Cannabis extracts producers and buyers to operate in a transparent marketplace enabling a perfect equilibrium based on the information provided by the Cannabinum smart contracts. In our vision the Cannabium token will become the standard token for cannabis extract trading, and together with our blockchain solutions will help the cannabis extract industry become more open, traceable, tradable, and transparent while saving time and money on unnecessary processes and intermediates.  

 

What problem does this solve?

The problems we are solving is that buyers want as much info about the CBD (origins of plants, where it was extracted, when it was extracted, and so on) and producers want to reach buyers easily. Both want to operate in a safe high-quality marketplace that audits the producers and buyers (legally-wise and quality-wise) and help make transactions easier. As the usage of CBD becomes more common, we believe a lot of smaller players (buyers) will enjoy a smart and easy way to purchase CBD for their needs.  

 

Why is transparency needed? What is the advantage of using blockchain to track transactions?

Transparency is needed in order for the buyers to know exactly what he is buying and the origins of the product and where is was produced. For example, a buyer might want CBD extracted from organic farms in Canada and not CBD extracted in farms in South America. Blockchain is a secure way to store data that way it becomes a source of “truth” and the data cannot be tampered, but more than that is allows to create the currency and facilitate transactions. These two features make blockchain a great solution for this industry.  

 

What is the main difference between Cannabium and other cannabis-related cryptocurrencies?

Cannabium’s unique features are 1—We deal with extracts only. 2—We are a market place. 3—We are the only token backed by real product.

 

Why the focus on medical? As opposed to on recreational cannabis?

We are not focused just on medicinal; however, CBD is a key product in that industry. We believe the usage will grow in other industries. However, we are a B2B marketplace, so the way the buyers use the CBD is up to them and their licences.  

 

Subscribe to our cannabis newsletter for free at talkingjointsmemo.com.

CITIZEN STRAIN
More from author
  • CITIZEN STRAIN
    https://digboston.com/author/citizen-strain/
    VIDEO: POCKET WRENCH BY INDUSTRIAL ARTS BREWING IS A SUPER SATISFYING SESSION
  • CITIZEN STRAIN
    https://digboston.com/author/citizen-strain/
    VIDEO: AERONAUT'S 6 YEARS WITH DR. NANDU BRINGS HIGH HOPS FOR 2021
  • CITIZEN STRAIN
    https://digboston.com/author/citizen-strain/
    BASK: RELUCTANTLY LOVING IPA SELTZER
  • CITIZEN STRAIN
    https://digboston.com/author/citizen-strain/
    BOSTON BETTER BEER BUREAU: FURTHER NEW ENGLAND IPA

Filed Under: COLUMNS, Shop, Talking Joints Memo Tagged With: blockchain, cannabis, cannabium, cryptocurrency, dennis rodman, duber, greenmed, Marijuana, medical marijuana, paragon, potcoin

WHAT’S NEW

SOMERVILLE MAYOR CURTATONE DROPS BOMBSHELL AHEAD OF MIDTERM ADDRESS

SOMERVILLE MAYOR CURTATONE DROPS BOMBSHELL AHEAD OF MIDTERM ADDRESS

CAMPBELL UNVEILS PLAN FOR POLICE TRANSPARENCY

CAMPBELL UNVEILS PLAN FOR POLICE TRANSPARENCY

SPECIAL FEATURE: THE CRUEL AND USUAL VIOLENCE AGAINST LGBTQ+ PEOPLE IN MASS PRISONS

SPECIAL FEATURE: THE CRUEL AND USUAL VIOLENCE AGAINST LGBTQ+ PEOPLE IN MASS PRISONS

INBOX: GROUP CALLS FOR BIDEN TO ABOLISH POLICE MILITARIZATION PROGRAM

INBOX: GROUP CALLS FOR BIDEN TO ABOLISH POLICE MILITARIZATION PROGRAM

WHAT WILL IT TAKE FOR THE CITY AND STATE TO FINALLY SUPPORT MINORITY BUSINESS?

WHAT WILL IT TAKE FOR THE CITY AND STATE TO FINALLY SUPPORT MINORITY BUSINESS?

HOMEWORK FOR BEACON HILL’S COVID EMERGENCY PREPAREDNESS & MANAGEMENT COMMITTEE

HOMEWORK FOR BEACON HILL’S COVID EMERGENCY PREPAREDNESS & MANAGEMENT COMMITTEE

Primary Sidebar

HEMPIRE FREEDOM PACK 25% OFF

FEATURED EVENT

Most Popular

  • SPECIAL FEATURE ON THE MASS STATE POLICE: TROOPER WILSON’S WAR by CHRIS FARAONE
  • [UPDATE: WE GOT IT!] WHERE IS THE CONTRACT FOR MASSACHUSETTS’ VACCINE APPOINTMENT SOFTWARE? by POLINA WHITEHOUSE
  • BOSTON LATIN ACADEMY GRADS FIGHT FOR REPRESENTATION IN ALUMNI GROUP by CHRIS FARAONE
  • DOES THE FORMER BPD COMMISSIONER EVEN LIVE IN BOSTON? by ZACK HUFFMAN
  • MASS KEEPS TRYING TO BUILD A NEW WOMEN’S PRISON OUTSIDE OF PUBLIC VIEW by DAN ATKINSON

READ CURRENT MEMBER EDITION

DIG Member 1.9 – 11/26/20

READ CURRENT STREET ISSUE

DIG 23.02 – 1/28/21

Footer

digbos

Includes Gang Green, The Freeze, SIEGE, TREE, and Includes Gang Green, The Freeze, SIEGE, TREE, and many more. https://digboston.com/iconic-lineup-comes-through-to-support-nantasket-venue-through-pandemic/ #music #digital #benefit #Hull #Massachusetts
Our interview with Avi Loeb, author of “Extrater Our interview with Avi Loeb, author of “Extraterrestrial: The First Sign of Intelligent Life Beyond Earth.” https://buff.ly/2O3nlUd #interview #book #alien #technology #astronomy #controversy #debate #science #Boston #Massachusetts
LGBTQ+ prisoners in Mass stand up to a violent sys LGBTQ+ prisoners in Mass stand up to a violent system that targets and dehumanizes vulnerable populations. https://digboston.com/special-feature-the-cruel-and-usual-violence-against-lgbtq-people-in-mass-prisons/ #prison #prisoner #humanrights #LGBT #politics #Massachusetts
Nominations now open! Vote for your favorite busin Nominations now open! Vote for your favorite businesses today. 

Are you a business? Are you the best at what you do? Encourage your fans to cast their votes! DM us to get our social media materials to promote your business and ensure your win. #bostontops #digboston
Bill sponsors, #Framingham mayor, and MA district Bill sponsors, #Framingham mayor, and MA district attorney will explain the Work & Family Mobility Act at a press conference. https://digboston.com/driving-families-forward-coalition-aims-to-help-undocumented-attain-drivers-licenses/ #politics #undocumented #immigration #driving #license #Massachusetts
Today at 4pm, cast your votes! #digboston Today at 4pm, cast your votes! #digboston
At a virtual summit, leaders sought to educate and At a virtual summit, leaders sought to educate and engage on the need for change. https://digboston.com/officials-advocates-speak-to-immigration-reform-and-economic-recovery/ #immigration #reform #economy #politics #Massachusetts
When it comes to special packaging and limited edi When it comes to special packaging and limited editions, Jack’s Abby and subsidiary Springdale out in Framingham are top players. https://digboston.com/video-unboxing-springdale-beers-limited-edition-neipa-music-box-set/ #beer #fun
Industrial Arts Brewing in NY’s Hudson Valley is Industrial Arts Brewing in NY’s Hudson Valley is well worth the look out of state ... https://digboston.com/video-pocket-wrench-by-industrial-arts-brewing-is-a-super-satisfying-session/ #beer #fun
Some who are civilly committed for #addiction in M Some who are civilly committed for #addiction in Mass face abusive #prison conditions. Still, some families say it’s better than the alternative https://digboston.com/the-commitments-addiction-treatment-behind-bars-in-massachusetts/ #treatment #Massachusetts
Load More... Follow on Instagram
Social Buttons

DigBoston facebook DigBoston Twitter DigBoston Instagram

Masthead

About

Submissions

Advertise

Privacy Policy

Customer Service

Distribution

About Us

DigBoston is a one-stop nexus for everything worth doing or knowing in the Boston area. It's an alt-weekly, it's a website, it's an e-mail blast, it's a twitter account, it's that cool party that you were at last night ... hey, you're reading it, so it's gotta be good. For advertising inquiries: [email protected] To reach Editorial: [email protected] For internship opportunities: [email protected]