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Published: June 26th, 2018
Categories: News • Other subjects
Zativo and Zamnesia have established a partnership for each other's advantage and for yours! Upon selecting a product in the Zativo web shop, Zativo will send readers to Zamnesia’s website to carry out the purchase. Zamnesia has established a firm reputation for excellent customer service and for sourcing the best cannabis seeds, therapeutic herbs, and paraphernalia on offer.
The reasonable prices for such great products are about to get even better. Zamnesia will soon be accepting a new payment method known as BitCanna. This cryptocurrency is more than just another token on the market; it’s a way to revolutionise the entire cannabis industry.
Blockchain and cryptocurrencies are a phenomenon that rose to the surface after the housing market collapsed in 2008. People are looking for alternatives to current financial systems and institutions, as the trust in banks has declined. Cryptocurrencies and tokens are based on blockchain technology, which allows for a decentralised network to conduct financial trades, without banks or various institutions participating and taking their piece of the pie. Many different types of cryptocurrencies with unique services and applications are coming to the surface, especially after the rise in popularity and high market demand 2017.
The cannabis industry sees blockchain technology as a great tool to make more discreet payments and to drive the cannabis legalization movement forward. Often, bank accounts block a transaction in cannabis web-stores, just because of the association with cannabis, even though the products may be legal to purchase. There are many areas of the cannabis industry where the governing bodies need full control and vigilance, and BitCanna shows a great initiative in resolving many issues posed by the prohibitionist forces.
If one wishes to buy cannabis and cannabis-related products legally, it’s hard to do with PayPal or a Visa card while being discreet. According to the BitCanna white paper, here are policy statements made by PayPal and Visa:
PayPal policy statement: "You may not use the PayPal service for activities that: relate to transactions involving drug paraphernalia/ items that encourage, promote, facilitate or instruct others to engage in illegal activity".
VISA policy statement: “Transactions in the U.S. involving the purchase or trade of marijuana are not permitted on the Visa network, until such time as federal law allows".
This leads to many problems for both the customer and merchant, independent of whether the cannabis products are legal or not. BitCanna wants to resolve this issue, not by encouraging underground trade, but by creating a platform where legal cannabis activities can take place without the entity in question suffering from the potential consequences of trading with standard payment methods.
Because the cannabis industry, especially in Europe, has to navigate through the grey area filled with many loopholes, the knowledge we have of cannabis and cannabis-related products is very limited. Let’s say that you create cannabis paraphernalia that’s in accordance with the local laws. The manufacturer will often not want to be tied by name with the product, hence, all the details surrounding its production are often missing. This allows low-quality cannabis products to flood the market. BitCanna aims to resolve this issue by creating a network from manufacturing to sales, so that consumers know what they're paying for.
The developers of BitCanna see the bigger picture. This decentralised payment network is not merely about changing the payment method, but to improve virtually every aspect of the cannabis industry. Manufacturers, transport companies, merchants, customers, consumers, will reap specific benefits from joining the BitCanna movement. The BitCanna platform is made for mass adoption, with Europe being the main focus point at the moment. The idea is to keep everything above board and to comply with local legislation, whilst remaining discreet where and when it counts.
To protect the ID of the individual working in the cannabis industry and those making purchases, whilst establishing an identification system, the aim is to sign up individuals and entities with the BitCanna platform using one’s driving license or ID. This will provide the individual or entity with a unique BitCanna ID, which could then be used in retail and wholesale situations. The plan is for businesses to receive a special BitCanna ID number verifying that they're a legitimate and existing entity, without needing to hand out the name and personal details of the employees to everyone. As consumer anonymity in this industry is relevant, this will also help with adoption of the platform, thus directly creating value.
Here are some useful applications stated by BitCanna in their white paper. The BitCanna platform will provide cannabis consumers with an enormous database of cannabis strains, and the exact location they can be purchased. If you want some Somango nearest to you, you can check which dispensary has it. A mobile wallet for BitCanna allows users to securely carry around their crypto, without carrying hundreds of euros in their pocket. BitCanna will develop special business plug-ins, allowing businesses to easily integrate and join the BitCanna network.
During the first three months from the day we start accepting BCNA, we’ll offer a 10% discount on this payment method, as well as future incentives for individuals who use this form of payment. Also, there are no fees attached to paying with BCNA, which can be considered an additional discount. This will help the customers, our business operations, and the cannabis industry in general—everybody wins.