All About Quannabu, the Cryptocurrency Constructed for the Hashish Trade

In 2019, service provider processor Fortress Cost Applied sciences announced that it might not be capable of settle for Visa funds for cannabidiol (CBD) associated merchandise. The announcement solely gave retailers eight hours’ discover of the change, this is only one instance of the numerous monetary hurdles that the hashish business has confronted when making an attempt to course of transactions for cannabis-related merchandise.

Sadly, as a result of laws and laws within the hashish business are nonetheless evolving, the business is persistently coping with these obstacles. To keep away from any potential dangers, even in areas the place hashish is now authorized, most banks, bank card corporations, and cost suppliers will keep away from working immediately with hashish transactions.

As a result of difficulties confronted with transactions, many companies are inclined to make use of money as their customary cost technique. Nevertheless, storing money presents an entire host of issues for companies. Not solely are companies’ safety compromised with the elevated risk of theft, but additionally their worker’s security when transporting money.

To offer an answer to the issue the hashish business has been dealing with, London-based startup Quannabu has launched a decentralized cost community for cannabis-related transactions on the blockchain. Quannabu additionally has a cost platform known as Quannabu Pay, which is constructed on the blockchain and permits companies and shoppers to seamlessly switch funds with none monetary hurdles.

The corporate’s monetary answer for the hashish business won’t solely have its personal type of cryptocurrency, but additionally a safe infrastructure in place. Since laws remains to be a piece in progress for a lot of international locations, laws are continually altering and have created a fancy and generally disjointed provide chain. Which means authorities have a tougher time monitoring the availability of hashish.

Because of Quannabu’s blockchain know-how, the corporate has created a product that minimizes criminal activity by permitting regulation enforcement to trace the supply and provide of all hashish merchandise. Which means governments can monitor the motion of hashish and cease any illicit circulation in its tracks, creating more room for a safer and controlled market.

The transparency into the availability chain that Quannabu offers won’t solely enhance provide chain visibility to regulation enforcement, but additionally shoppers, producers, and suppliers. By this answer, the corporate is growing belief and making a safer business as an entire.

Along with the corporate’s provide chain answer, token providing, and safe cost platform, it additionally operates Quannabu Labs, a groundbreaking testing laboratory that’s devoted to CBD-related actions on and off the blockchain—the one operation of its type on the earth.

Lastly, the corporate can be working in the direction of establishing its very personal hemp farm, to farm pharmaceutical-grade hemp. The ability can have licensed testing gear so it could persistently and precisely take a look at its vegetation.

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