Some blockchain projects specialize in tracing products, in order to continuously ensure their quality. Today, it is an original product that the CERES Coin company offers to follow via a blockchain: cannabis.
A marriage between crypto and marijuana
On June 30, Chicago-based CERES Coin filed an application for authorization to offer tokens to the SEC (Securities and Exchange Commission).
CERES actually wants to set up a monitoring and payment network "from seed to sale" using cannabis. The Americans Greg Anderson and Charlie Uchill, founders of the company in 2017, aim to sell both a token representing shares in their company, but also a "CERES Coin" which will be used for transactions in their future network.
$ 50 million for "soft drugs"
As can be seen from their request below, the company wants to issue $ 30 million in share tokens and $ 20 million in CERES Coin.
CERES tokens request - Source: SEC
The action token will make it possible to collect 80% of the company's net income from its lending activities and 20% of the net income from its blockchain tracking and payment network. With this fundraiser, CERES also wishes to offer a loan service for legal cannabis production companies.
As blockchain technologies offer many possibilities, the introduction of cannabis by CERES remains a laudable idea. Now, it will be necessary to check if the strategy of the company allows to achieve the expected results.
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