“We’ve entered the most profound era of change for financial services
companies since the 1970s brought us index mutual funds, discount
brokers and ATMs.” Business Insider 7 July 2016
The cannabis industry has traditionally been fragmented, untrustworthy, and illicit, but
it is now moving towards greater legitimacy. New research shows powerful health
benefits of cannabis and strong social movements are pushing for increased legalization.
One way to improve the reputation of the industry is to modernize it, make it
standardized, fully verifiable, and built on a system of trust between patients, doctors,
growers, and suppliers. New blockchain technology / Distributed Ledger Technology(DLT)
offers an ideal solution. Since blockchain holds an immutable ledger and assured
contracts, it can easily accommodate the recording and storing of all product
life cycle events, verify patient identification, assure payments, and more. Paragon
seeks to create a crypto-token built on smart contracts on blockchain specifically for
the worldwide cannabis community. Paragon is the first organization dedicated to
leveraging smart contracts built on the blockchain to create and foster a community
dedicated to the worldwide legalization and systematization of cannabis.