CBDoken: Providing Tokenized CBD Products
CBD is a non-psychoactive Hemp Cannabinoid accounting for 40% of cannabis extract but does not have the psychoactive effects common in tetrahydrocannabinol (THC). CBD has been shown to provide many benefits to users. It has been widely used in medicine, lifestyle, and as a raw material and its expanding market keeps on growing. The purchase and procession of CBD is legal in the US, India, EU, South America, and in China. CBD is also used in prescriptions that are used in different countries.
Despite the possible increased popularity of CBD products, there is no transparency on the CBD pricing and there are no established markets for the pricing of this product. The delivery and distribution of the product globally are fragmented.
How CBDoken (CBDF) Works
The CBDoken is a tokenized CBD, which is the solution to the above existing challenges. One CBDoken corresponds to the consumption of a ready-made CBD product. The first CBDoken will be based on the full spectrum CBD oil. This is considered as one of the most potent CBD derivatives and provides many benefits to the users.
All the physical assets associated with the token are stored in dedicate vaults at the platforms manufacture, storage, and distribution partner. The quality and quantity of the products are guaranteed as both features are audited and abide by the highest standards of laboratory grade that contains close to zero THC.
The price of the newly issued CBD will be calculated using the Doken Reference Index, which is a transparent way to calculate this price. The index will be based on the global prices of CBD based on the price charged by CBD vendors. Therefore, the price can be verified and will be objective, as it will be calculated by use of the median price of an equivalent CBD- product.
Sale Of The CBDF Token
The CBDoken will be based on the Ethereum network and will be an ERC20 token with unique features. The token will form a contact between the partner and the token holder that is redeemable and transferable on all the cryptocurrencies exchanges. This will make it easier to sell CBD products and will tokenize CBD products that are ready to be consumed. This will make the buying and trading of CBD products cheap, transparent, and safe.
The presale and the main token sale of the CBDokens will happen between August to October 2018. The presale price of the token will be 13.80 Euro while the main sale token price will be 14.10 Euro per token. The pre-sale date will be on 2nd August 2018. The CBDF tokens supplied during the pre-sale and the main token sale will be 235.000 and 500.000 CBDFs respectively.
Features Of CBDoken
The CBDoken will have the features below:
- Asset-backed token: Each of the tokens is created with the owner in mind. A corresponding and redeemable CMD product backs each of the tokens.
- Stable and reliable token: In case there are 2.000 CBDF tokens in circulation then there will be 2.000 gram of CBD full spectrum extract in storage. This eliminates volatility that is common in other cryptocurrencies such as Bitcoin and Ethereum and offers reliability and stability on the CBDoken.
- Cheaper: CBDoken undercuts the competition in terms of reduced purchasing price of finished CBD products for buyers by a factor of three during the token sale. The price is reduced as the platform cuts down the distribution chain and sells directly to the buyer. The platform hopes to provide a transparent pricing and distribution of CBD products by use of CBDokens.
This will see the price of CBD products decrease and they will be easily available.