Jibbit- Merging Cannabis and Blockchain, Part 1: Who and What?

in #jibbit6 years ago (edited)

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Hey guys,

I’ve got an especially novel project to review today called Jibbit, which has the vision of creating an innovative, multi-faceted decentralised platform to satisfy various growing demands of the global cannabis industry. This is a mammoth task, of course, so will need to be backed by strong fundamentals if the project has a chance of achieving its goals- which we are about to analyse.

In this article specifically I will provide insight into the Jibbit project in order to answers the two questions: ‘who’? And ‘what’? Namely, who are Jibbit? And what are they trying to accomplish? Essentially, a detailed overall project analysis.

Quick disclaimer: this project, like all I review, is new to the scene and is still under development so please always do your own research. Also remember this is my opinion and not financial advice; my content is for educational and entertainment purposes only.

Let’s jump in.

JIBBIT’S MOTIVATION

It has been a slow journey, but the world is finally waking up to the benefits of cannabis. The resulting wave of legalisation is bringing increased demands relating to cannabis-based products and services, which are vast and varied.

Though the cannabis space is blossoming in popularity, the space is fragmented and chaotic, and is already experiencing many teething problems. The current situation demands an innovative use of cutting edge tech to ease the industry’s transition into the mainstream, and optimise the practices within this booming space.

This is the vision of Jibbit- to create a central, yet decentralised, hub to satisfy all of the growing demands of the cannabis industry- from the acquisition of cultivation-related accessories to the verification of medical prescriptions, Jibbit aim to bridge the gap between all areas of supply and demand within the cannabis arena through their innovative blockchain-powered platform.

TEAM DETAILS

The Jibbit team are an experienced collective with a range of expertise, each bringing their own refined skill set to the table. The team is not only impressive in terms of its size, but also its varied nature. Overall, they show notable strength in the area of marketing, and the range of startup experience is great to see.

CR jibbit team.JPG

If you want to find out more about the individual team members there is a detailed description of each core team member on the Jibbit website, link found below.

BLOCKCHAIN BASED SOLUTION

Bridging the Gaps

The core functionality of the Jibbit ecosystem is to facilitate the effective bridging between supply and demand of the different areas of the cannabis industry; consumers, producers and suppliers of all cannabis-related goods and services will be able to efficiently and securely discover, connect and transact with one another through Jibbit’s blockchain-powered network.

When market participants are connected through the Jibbit network, they are also presented with a much more beneficial and verifiably legitimate environment in which to interact, thanks to the benefits of blockchain technology. As an example, Jibbit’s inbuilt e-commerce facility houses a vastly superior and hugely more credible feedback system; only users who have conducted transactions (confirmed on the blockchain) will have the ability to leave a review. Such measures will create a vastly more transparent environment for user interaction and transaction.

Facilitating a Secure Environment

By utilising Jibbit’s inbuilt blockchain-powered payment mechanism through their platform token, users can be assured of secure, efficient and transparent transactions. Transactions can be verified by anyone through the public ledger, and the transfer of Jibbit’s cryptocurrency is quicker, easier and more secure than a bank-based payment.

Not only providing financial security, platform users can also be assured of product quality; through allowing only verified vendors to utilise the marketplace, users of transacting on Jibbit’s network can be confident in the knowledge that they are avoiding the harmful substances used during cannabis cultivation by unauthorized dealers.

CR jibbit network.JPG

NOTABLE FEATURE

Multi-Part Jibbit Ecosystem

What I find most notable is Jibbit’s combination of various solutions which encompass an all-in-one hub for all demands cannabis-related. From the acquisition of cannabis-related cultivation equipment to the storage and verification of medical cannabis prescriptions, the Jibbit ecosystem has a dedicated and highly optimized component of their ecosystem to ensure that these activities are carried out in the most simple, secure and efficient way possible.

All elements of which work together to make up the innovative Jibbit ecosystem are to be analysed in detail in a dedicated upcoming article.

CONCLUSION

So there we have the ‘who’, and ‘what’ of the Jibbit project. The ‘who’: a large and varied team of experienced professionals with the grand vision of disrupting the booming fledgling cannabis industry, and the ‘what’: an innovative multi-part blockchain powered ecosystem, built to provide benefit within all areas of the varied cannabis industry.

Jibbit is built to service the participants of one of the fastest growing, yet notably underserved, global markets by enabling blockchain-powered opportunities and benefits never before possible. Their vision is impressive, and serves to benefit many areas of society if executed accorded to plan.

In my next article on Jibbit we will be exploring the ‘why’ of the project- why is Jibbit necessary? And why blockchain?

LINKS

Website: https://jibbit.io/
White paper: https://jibbit.io/wp-content/uploads/2018/08/Whitepaper-Version-1.13.pdf

Telegram: https://t.me/jibbitico

My Bitcointalk account - datniccy97 -https://bitcointalk.org/index.php?action=profile;u=2099905

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Great project... I am going to grow my own here in Canada starting on October 17

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I'm jealous :)

Don’t be jealous... fight for Legal weed

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Very nice, weed and block chain two of my favourite things. Boom. Will be following!

Country roads... take me home... to the place.. I belong!

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I feel like something like this is going to only be as good as the adoption rate, I mean it's all about the network effect and if you don't have any doctors in your network for example then its no use. When I see some partners I will be happier! Nice review though.

You're right- most blockchain projects are only as strong as their community when it comes down to it, but of course Jibbit will make moves to build their network of actors, from consumers to sellers on the marketplace, to pharmacists. All takes time and effort, and relies on support form a strong community to move forwards :)

You got a 62.02% upvote from @minnowvotes courtesy of @cryptorobyn!

It is true that the cannabis industry is very all over the place at the moment. This will change when it matures. I don't know if Jibbit really need to be using a block chian but I like the idea.

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