CBIS - Cannabis Combined with Blockchain

Hello Steemians!

I'm here to bring to you interesting information regarding a company I recently became interested in - Cannabis Science Inc. This company specializes in the development of cannabinoid-based medicines for chronic pain.

Now I don't know how many of you on this platform invest in cryptocurrencies AND stocks, but something interesting about this company is it's around $0.0649 cents per share at its close on Friday, 12/23/17, and there's reason to believe it'll rise at least a few cents or more in the upcoming future. Why, might you ask?

Recently, they announced some very interesting developments:

First, it announced on 12/20/17 that their plans for expansion were currently on track. They're planning on opening two PRE ICO Medical Marijuana Dispensaries in Los Angeles and San Fernando Valley by the end of 2017 for the anticipated influx of users in January 2018 due to recreational use bill passage.

  • Now, this is interesting because it mentions an ICO without explaining when the initial coin offering was going to occur. When this news came out I bought shares in the company, and sure enough two days later they further explained things.

According to their website on 12/22/17:

This January 2018 Cannabis Science plans pre-launch sales of our own proprietary blockchain and will commence ICO trading with a unique three symbol trading symbol on a number of blockchain currency exchange markets after pre-launch sales have completed. The Cannabis Science blockchain white papers are being finalized now for January 2018 release.
-Mr. Raymond C. Dabney, President and CEO, Co-Founder, Cannabis Science Inc.

The letter went on further to partially explain why a cryptocurrency for the cannabis market could be beneficial:

Today, most cannabinoid enterprises cannot open bank accounts, engage POS systems, and accept credit card payments. This forces the industry to use cash as the main transaction medium. Cash is employed to pay for rent, inventory, supplies, taxes, and all canna related B2C and B2B transactions
-Mr. Raymond C. Dabney

Along with the growing cannabis industry with more and more states legalizing medical and recreational use (especially with six states on the ballot for 2018), this cryptocurrency is being created to make payment solutions more efficient for retailers and customers.

Now, is a cryptocurrency particularly necessary? I don't know to be honest with you. On one hand paying everything with cash is quite a hassle, especially as people continue to stray from holding cash in their wallets (anecdotal evidence: for myself, none of my friends carry cash anymore; we just Venmo each other). This leaves potential for this coin to be beneficial. On another hand, if people were able to pay with cards, there would be no need for a currency to be used across dispensaries as people could simply pay with USD.

For me, I may stick to simply buying shares in the company...

I'll make sure to leave the link to their website here for you to explore on your own. Their development team seems up-to-par, and they're teamed up with Dana Farber, a very powerful collaborator that does cutting-edge cancer research right here in Boston. This company certainly has potential, and so does their ICO. I'm personally wary of ICOs, but if they're up your alley, then I hope this information provided is beneficial to your overall goals!

This is simply provided information, not financial advice. I am not a financial adviser. Please don't invest more than you can afford to lose and make your own decision regarding CBIS's potential.

Let me know what you think in the comments!

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I believe it has the potential to make purchasing medical cannabis products safer. It might be legal in some states (unfortunately not mine unless you are a minor with seizures, I think) but because it is not federally, the businesses cannot use the us dollar banking system which makes them a target for robbery and violence, no matter how safe the dispensaries aim to be. Anyway, thanks for the information. I am very new to this whole cryptocurrency things, but have been seeing some interesting information on this particular crypto. Thanks again.

You are welcome! Glad the post could be of service.

Hopefully in the near future they remove marijuana from the Substance 1 listing, as much more research needs to occur to fully understand its potential.

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Good call here man

Thank you! Sadly I closed my position during the slaughter that took place yesterday to take the money I made and run before more of a price decrease. I'm thinking of participating in the ICO, however, as this is an interesting concept. Any way for the cannabis industry to defy the federal government seems like something to get behind at this point in time.

so instead of using USD, I could use crypto card ad weed dispensaries? Aweosme!

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