What Is Bitcanna and How Does It Work?
- Cannabis Industry

What Is Bitcanna and How Does It Work?

With cannabis more globally accepted than ever before, you’d think buying flower, seeds, and paraphernalia would be simple, right? Unfortunately, purchasing cannabis-related goods is still slow, needlessly complicated, and oftentimes prohibited. If this sounds like a familiar situation, it’s time to take a look at BitCanna.

What Is BitCanna?

BitCanna is a payment platform free from the restrictions imposed by traditional institutions, allowing businesses and consumers to connect without prejudice. The cryptocurrency network and BCNA utility token are designed exclusively with the cannabis industry in mind, bringing together merchants, customers, dispensaries, growers, and distributors.

With a digital wallet, it’ll be easier than ever to walk into your favorite dispensary or smartshop and pay for the goods you want instantly. Mobile app support (iOS & Android), an active blockchain network, and over 80 partners make Bitcanna much more than just a concept—it’s a reality that’s live now!

What Is BitCanna?

How Does BitCanna Work?

The principle of BitCanna is similar to that of Bitcoin, but without limitations in scalability. To use the BitCanna network, customers and businesses stake their BCNA tokens. When a transaction is verified, the exchange is written to the network, becoming another block in the chain.

While this may sound confusing if you’re unfamiliar with cryptocurrency, blockchain networks are incredibly secure. They require all the active nodes (users) to reach the same consensus before a transaction is confirmed, putting a stop to fraudulent or unauthorized transactions.

You buy BCNA tokens from a crypto exchange, store them in a private digital wallet, then connect to other vendors and consumers via the network. When you complete a transaction, the tokens you use for goods or services are removed from your wallet, and the entire process is written to the network.

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Partnering With BitCanna

A fully functioning network is all well and good, but they need people for blockchains to thrive. In fact, a lack of active users is precisely why many blockchains lose value and stop growing.

BitCanna knows that to revolutionize payment options for the cannabis industry truly, you need widespread adoption. The BitCanna Alliance is an initiative that tackles this problem head-on. By partnering with online and high street businesses, the network becomes a thriving hub for all things cannabis. And, in exchange, those businesses get access to a wealth of functionality and features.

The BitCanna Alliance now has over 80 members, with two—Royal Queen Seeds and Zamnesia—the first to accept BCNA tokens as a checkout payment option. In the future, the remaining partners will also offer the same functionality. But, for now, it’s vitally important that this revolutionary process is trialed to ensure it lives up to user expectations.

The Future of BitCanna

BitCanna’s payment functionality is only phase one in the network’s development. Phase two—supply chain—and phase three—trust and reputation—will bring a suite of tools to users’ fingertips.

Alongside a token exchange, the BitCanna network will offer map functionality, user-validated reviews, logistical support for businesses, product quality tracking, and much more. Of course, the aim is to deliver the same functionality as fiat currencies, without any of the drawbacks.

BitCanna is an initiative dedicated to serving the cannabis industry and helping it grow into a trusted and thriving space. And, with the demand for viable payment solutions greater than ever, BitCanna is perfectly positioned to help the industry reach its full potential.

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Want to learn more about BitCanna? Please pay a visit to their website: https://www.bitcanna.io/.

What Is Bitcanna and How Does It Work?

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