BitCanna aims to revolutionize payments in the European cannabis industry

Even in states where the sale of cannabis or cannabis-related products is legal, banks are reluctant to welcome cannabis businesses. BitCanna aims to provide the European cannabis industry with a fast, secure payment method.

The BitCanna Alliance is a strategic alliance of leaders in the European cannabis industry. This network includes Europe's largest cannabis seed banks, CBD product distributors and coffeeshops. The Alliance already attracts more than 10 million unique visitors every month, which will further facilitate the adoption of BitCanna.

BitCanna is a cryptocurrency based on its own blockchain. A dedicated layer has been created for all the physical products involved, as well as for all the players (laboratories, merchants, distributors...). The immutable nature of the blockchain means that all product movements are recorded in the blockchain, from origin to point of sale. This chain of traceability ensures the authenticity and quality of the goods sold.

When it comes to trust, BitCanna puts its cards on the table. All participating companies are public, and users' identities will be verified through a secure process. A unique identifier (the BitCanna ID) is then issued, enabling users to use BitCanna without having to prove their identity a second time.

BitCanna also wants to create a system of trust based on the blockchain, by adding a rating system for all participants in the BitCanna network. In this way, all links in the supply chain can build the reputation they deserve. In practice, the blockchain will enable transparent revisions. For example, it will be possible to add a note to an address, so you'll always be able to check whether you're dealing with someone you can trust. Based on a number of parameters, built-in checks and balances will ensure that notes are treated fairly.

The ICO opens on July 1 and will be limited to 15,000 participants.