CannaCor (Pty) Ltd is a licensed illicit drug operator with more than 50,000 square meters of land acquired in Veria, Lesotho. The company aims to become one of the leading players in the medical cannabis industry. It is currently licensed and compliant to provide services in Canada, Europe, and other global markets through this facility. The CannaCor coin is an ERC20 based on Ethereum blockchain.
CannaCor coin is an open-source decentralized cryptocurrency. It allows users to send funds over the network in seconds.
The coin is completely decentralized and free of any power. It follows the same principles as the Bitcoin community.
CannaCor coin’s innovative offer
Through its innovative offering, CannaCor aims to provide this industry with a unique platform that can digitize the supply chain process and increase overall production across the sector.
These features increase revenue and provide greater transparency for the company and its customers.
Cannacor will host the first primary medical cannabis (ICO) offer in South Africa. CannaCor coin cryptocurrency will operate on Ethereum blockchain, a fast, decentralized and unchanging blockchain.
Using CannaCor coin
CannaCor and Blockchain Corporation is collaborating with a common vision to bring lasting change in the field of cannabis research, cultivation, processing, and distribution.
“Our goal is to transform the entire cannabis cultivation process to make it as transparent and secure as possible.”
The CannaCor coin is an ERC20 based on Ethereum blockchain. ERC20 is an official protocol offering improvements to the Ethereum network (ETH) and can be understood as a standard for coins created in the Ethereum blockchain.
The ERC20 coin standard makes it easy to exchange one ERC20 coin for another, as well as to integrate various ERC20 coins into platforms such as blockchain wallets and exchanges, and much more.
To develop its business strategy, CannaCor plans to raise funds through a series of two rounds called pre-ICO and ICO. Funds raised through ICO should be used for:
- Establishment of an aquaponics cannabis plant with an area of 30,000 m2.
- Development of blockchain technology and its applications.
- Create CannaCor coin cryptocurrency.
During the pre-ICO period, the price of the coin was estimated at $0.06, with 463 million coins available at this stage.
Stakeholders are expected to jump on board and participate in the project by Jan. 31, 2020. As soon as the pre-ICO ends, on Feb. 8, ICO will begin with a quoted price of $0.12 per coin and will continue until April 2020.
An important aspect of this project is that they are committed to its development. If Soft Cap is not followed, the company will reimburse all investors upon the completion of the ICO.
The funds raised during the ICO will be used to build the facility to grow and develop blockchain and its applications. In addition, all coins will be distributed to participants within 30 days after ICO.
The following currencies are accepted for purchase by Cannacor: Bitcoin (BTC), Etherium (ETH) and Bitcoin Cash (BCH).
Advantages for investors
Upon completion of ICO, CannaCor will use 12% of its net profit to repurchase the coins twice a year over a period of 10 years.
100% of the coins purchased will be burned or destroyed. This ensures that the cryptocurrency maintains stable growth, reduces initial delivery, provides a stable value reserve with low volatility and increases its value.
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First published in Criptomonedas, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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