This is a sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below.
As cannabis becomes legalized for medical and recreational use in more states and countries, the consumer cannabis industry becomes a major growth opportunity for growers, processors, distributors and retailers. The team of entrepreneurs behind the düber token (DBR) believes blockchain technology will bring an efficient supply chain and a market capable of fairly rewarding all market participants.
The legal cannabis industry is one of the fastest growing industries. In North America alone, the industry is forecasted to exceed $20 billion by 2021, from $6.7 billion in 2016, and create more than a quarter of a million jobs.
To date, 37 states plus Washington, D.C. have passed medical or recreational cannabis laws, while Canada is expected to legalize recreational cannabis by July 2018.
Blockchain Benefits Cannabis
By utilizing blockchain technology, the system will track all transactions involving cannabis—from manufacture to purchase and delivery.
The system has been designed to reduce the friction for conducting cannabis ecommerce by removing numerous data entry points and centralizing the inventory ordering and supply chain functions.
The system’s centralized resources allow supply chain participants to connect their existing hardware investments to the düber platform. Once connected, participants have a single point for updating inventory quantities, as opposed to an entire workload of photographing and entering data about each product.
For retailers, a standardized set of product data helps automate re-ordering, reduces training costs and improves the accuracy of information. For processors and producers, the centralized inventory system allows better forecasting for production and product replenishment.
For distributors, it offers better coordination of resources, less rejected product and reduced costs.
The ledger entries for delivered products will include data such as transport manifests, retailer information and driver information. Such transparency enhances the safety of all participants.
Platform Already In Action
düber has already secured financial backing and has launched multiple products. The company has secured $50 million for its first 15 distribution hubs totaling 400,000 square feet.
The platform has already integrated into retail operations and supply chains. It has conducted a beta test of the inventory and ordering system, and has integrated with the BioTrack seed-to-sale system used in Washington and several medical-only states.
A digital signage product has been developed to give retailers the ability to show menus and display advertising. A self-serve in-store ordering system has also been launched, as well as online ordering. In addition, the platform will provide global product search, advertising, retail point of sale, and a home delivery system for retailers.
The platform has been designed to ensure that paying with tokens is more advantageous than paying in fiat currency, thereby building the demand for the tokens. The tokens can be used by any participant across the network for any legal product.
Consumers Earn DBRs
Consumers will earn tokens on every purchase. They earn more tokens for purchases that are more profitable for the retailer, such as home delivery versus in-store purchases.
Consumers will earn DBRs for providing detailed product information such as names, descriptions and pictures. Consumers will also rate product and provide product data, and be rewarded for buying product.
The information will be available across the network for the benefit of processors, producers, retailers and consumers. Consumers can also earn DBRs by writing product reviews.
In addition, they can earn DBRs by scanning advertisements or entering daily catch phrases into their düber app. Retailers can reward customers for their loyalty with tokens per dollar spent. There is a minimum level that they must provide which they can exceed.
The düber back-office system allows retailers to send promotional SMS and email messages to consumers. Consumers can earn DBRs by clicking on the unique URL, and purchases for promoted products will earn additional DBRs.
The system will assist participants with compliance with state laws.
Token Sale To Start
The DBR token sale aims to raise 350,000 ETH using the SAFT (Simple Agreement for Future Tokens) structure. The pre-sale started at 15:01 UTC on Oct. 11. The crowdsale will start 15:01 UTC on Nov. 1, and end at 23:59 UTC on Dec. 1, 2017.
The SAFT structure ensures a legally compliant investment structure. It requires accreditation of contributors under Rule 506(c) of Regulation D of Section 4(a)2 of the U.S. Securities Act and other securities laws.
The SAFT offering will fund development of the düber ecosystem. When the network launches, the SAFTs will automatically mint düber tokens (DBRs) and distribute them to all contributors.
Early in 2018, a loyalty and messaging platform will be launched, as well as a distributor platform and a home delivery system.