Cannabis firms have trouble getting bank financial services as well as other financial intermediaries. These companies are either denied banking services outright or charged exorbitant fees to obtain them.
BitCanna, a global blockchain technology firm, uses blockchain and cryptocurrencies to provide a cashless payment option.
Alternative sources of capital for cannabis businesses
As previously said, BitCanna assures that cannabis businesses have financial inclusion via blockchain. Cannabis organizations can accept payments through BitCanna Pay, an application that provides instant, global access to payments, rather than dealing with the limitations imposed by credit card banks and companies.
BitCanna payment transactions take an average of less five seconds to execute the transaction and cost less than a tenth of a dollar cent thanks to the Cosmos blockchain (ATOM). The platform is enabled by the BCNA token, which is used by both consumers and cannabis companies to allow payments.
Not only that, but BitCanna uses blockchain technology to help the cannabis sector and users track and trace cannabis-related products. This is to ensure quality and origin transparency, as well as to provide information on product standards.
NFT-enabled community
BitCanna is creating a nonfungible token (NFT) collection named Buddheads to advertise its services. Buddheads will serve as an onboarding tool for newcomers to the BitCanna community.
There will be around 8,400 Buddheads in all, and most will be transfered to the Bitcanna Stargaze community members if they meet specific qualifications. On the Cosmos blockchain, Stargaze forms layer-1 NFT platform. Any Buddheads that remain after the airdrop will be mintable on the Stargaze platform.
BitCanna shall convert 50 percent of the profits from its NFT transaction into BCNA, being the project’s token, and transferred to Buddhead holders. The remaining 50% will go to the BitCanna crew and the chain’s future development and functionality.
BitCanna believes that Buddheads will serve as an entry point into blockchain and cryptocurrencies. The team sees their NFTs as a sub- network, because those who own them will be part of the larger BitCanna community.
“BitCanna Buddheads might be the missing link between the cannabis and cryptocurrency communities,” the BitCanna team argues.
BitCanna also has a number of partnerships and sister firms that provide accessibility to millions of clients. Zamnesia, Cibdol,Royal Queen Seeds, and Kannabia are some of these groups.
The BCNA token was recently listed on the Osmosis DEX, where it is linked with the OSMO and ATOM and tokens. The BitCanna crew will spend the next 12 months growing its Buddheads NFT collections as well as its payment service solution to a world market.
