This article by Kim Torres was originally published at SundayScaries.com on August 10, 2019. It is being republished here with the publisher’s permission through syndication.
CBDoken is a company based out of Vienna that has changed the CBD market. They have done this by open and distributing their product through alternative distribution methods by using their Voucher token.
Tokenized Vouchers for CBD oil and create business opportunities for resale where the price of the product is set by the trading of the product. CBDoken hopes to take away up to 60 percent of the costs that aren’t needed that is associated with the CBD oil distribution.
Before we talk about CBDoken and what they are doing to change the CBD market, let’s go back to the basics and figure out what exactly CBD is and why it’s a hot commodity at the moment.
What Is CBD?
For a long time, the most understood compound of marijuana was THC – this is the most dynamic fixing in cannabis. The hemp plant contains both THC and CBD, yet they each have distinctive impacts. THC is most notably known for the mind-modifying “high” it produces when it’s brought into the body, for example, smoking pot.
Not like THC at all, CBD isn’t psychoactive. This means that it won’t change the perspective of the individual that uses it. Instead, CBD delivers noteworthy changes in the body and has been found to have health advantages. It has the medical benefits of reducing the effects of anxiety, depression, chronic pain, insomnia, and more.
CBD is designed to help you chill out even in the most stressful of times. By using CBD products, you’ll find that you can conquer anything, including public speaking. This is why CBD products have become so popular over the years: it’s a natural remedy for ailments that might not require additional medication, or it’s a way to decrease the number of medications that you take daily. It comes in different ways like CBD gummies, candies, or even energy shots.
No matter your reason for using CBD, you’ll find that you’ll feel much better afterward whether it be for anxiety or chronic pain.
Now, let’s get into why CBDoken is important and changing the world of CBD distribution:
Why Is It Important?
Due to the controversy that comes with the term cannabis, you won’t find legal CBD extracts sold on the public market. This is because of the probable abuse in the supply chain. Plus, there are still some countries that consider CBD products to be illegal, although it only contains 0.0- to 0.02 percent THC.
The brashness of regulators is causing the traditional market to not put CBD products up as a commodity on the open market. Using a decentralized token to make trades is ideal because it makes it so that traders never encounter the product.
More so, some CBD products are being sold at insanely high prices by white-label brands – 300 to 800 percent more than what the distributors pay producers in the EU or the United States.
CBDoken will provide a “CBD Full Spectrum Extract” – which is one of the utmost quality hemp oils on the market. Because this is the best hemp oil, there is high competition on the market where quality matters – people are willing to purchase this extract for more than six percent of the production costs.
By utilizing their trademarked ERC20 token, CBDoken will be able to accurately position and price their CBD products on the market. There aren’t currently any CBD companies that have done this, so people will certainly be curious about the results of this.
How Does It Work?
Once distribution starts, the business will use the Voucher Tokens will represent 10ml CBD Full Spectrum Extract that they have in their warehouse. The number of stocked products and tokens will remain equal throughout the entire process. They have a contract that will destroy the tokens after an order has been fulfilled.
Let’s get into how it works just a little bit more so that it makes the most sense. One CBDoken is the same equivalent as one CBD retail product. If there are 2 (CBDF) Tokens in circulation, then there are 2 grams of CBD Full Spectrum Extract in storage. This removes the volatility inherent to cryptocurrencies like Ethereum or Bitcoin; CBDoken is a more solid form of cryptocurrency.
Burning the tokens, it shows that the tokens are being destroyed at the point of sale and that the CBD product is on its way to the customer. The contract they have with their manufacturer connects them to the end users, which provides a clear path of distribution without the inflation of prices along the way.
By utilizing “proof of burn” – the burning of tokens after the sale of the product – enables a transparent and clear communication throughout the blockchain, making the information about supply readily available to the public.
Additionally, CBDoken will have a Webshop that will be opened to sell CBD products in exchange for fiat prices that are based off community-defined prices. To facilitate a sale through this shop, CBDoken will buy a token from the exchange and will follow the burning process themselves.
Why Should You Have a Voucher Token?
CBDoken makes Vouchers for a wide variety of CBD products. As the market for CBD keeps growing, so will the products that are offered by CBDoken. The resulting tokens give intrigued clients the capacity to buy different CBD products at a discounted price and allows them to claim or exchange them conscientiously or in traditional retail.
If you want to purchase CBDF tokens, as long as you’re not in the United States, you can get them on CBDoken’s website.
CBDoken was created to make the selling of cannabis products easier for consumers. By creating a way to buy and exchange CBD products on the market makes it easier for consumers to find the product they want and buy it. They don’t have to receive the product if they don’t want to – instead, they can hold onto the product and sell it when the prices are high. It’s a new way into cryptocurrencies, and that’s what makes CBDoken so incredibly interesting.
More on this topic: How Can CBD Help Elderly People?