many countries, the legalization of cannabis should not only generate tax revenues, but also better protect market participants. The safety for consumers, but also for the seller, is a crucial factor in the legalization of marijuana, and this is where the blockchain is used. The necessary security for the payment transactions as well as the verification of the providers is thus ensured. Each transaction is stored in encrypted form on the blockchain for an enabling secure traceability. In addition, the anonymity of consumers or patients is maintained, as there is no unpleasant use in account statements.
In Germany, too, a rethinking took place and in 2017 marijuana was legalized for medical purposes. In the meantime, the first cannabis ICO is already running on jibbit.io and from 1 June 2018 the token can be bought. The Jibbit network brings together all market participants in the industry and the jibbit tokens serve as a means of payment. For sale only authorized manufacturers and suppliers are allowed. In the future, customers will be able to order cannabis in the Jibbit network as well as accessories from trusted retailers. Damage caused by incorrect prescriptions is additionally prevented by the blockchain.
As the cannabis industry grows, demand will also increase and other ICOs will hit the market. But even here you should separate the black from the white sheeps.