CBIS Huge News -- Cannabis Science Negotiates for Major Asset Backed Blockchain Crypto Currency with Cannabis and Many Other Industry Applications
Pre-Sales Launch Expected January 2018 with Similar Bitcoin Type ICO Trading to Follow
IRVINE, CA, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Cannabis Science, Inc. (OTC Pink: CBIS), a U.S. company specializing in the development of cannabinoid-based medicines, announces it has negotiated an ICO with a major asset backed Blockchain participant.
This January 2018 Cannabis Science plans pre-launch sales of our own proprietary blockchain and will commence ICO trading with a unique three symbol trading symbol on a number of blockchain currency exchange markets after pre-launch sales have completed. The Cannabis Science blockchain white papers are being finalized now for January 2018 release.
“We have been studying the industry for some time now, we certainly believe that we have found something special for this blockchain arena, not just for the cannabis industry, but for so many unexplored industries and applications. This endeavor is outstanding for Cannabis Science for a number of reasons as our blockchain currency can be backed with real world assets for additional ICO trading security and comfort. Bitcoin has risen 1500% this year, about 85% in the last few weeks and Futures contracts open as of yesterday.
“With Cannabis legal in about 29 states and as many as 6 more on the Ballots for 2018, payment solutions are needed for dispensaries and customers so we plan on integrating the upcoming cryptocurrency to make this process more efficient for retailers and consumers.
“Today, most cannabinoid enterprises cannot open bank accounts, engage POS systems, and accept credit card payments. This forces the industry to use cash as the main transaction medium. Cash is employed to pay for rent, inventory, supplies, taxes, and all canna related B2C and B2B transactions,” stated Cannabis Science Inc., President & CEO, Co-Founder, Mr. Raymond C. Dabney.
From Wikipedia:
Initial coin offering (ICO) is a controversial means of crowdfunding via use of cryptocurrency,[1][2] which can be a source of capital for startup companies.[3] In an ICO, a percentage of the newly issued cryptocurrency is sold to investors in exchange for legal tender or other cryptocurrencies such as Bitcoin or Ethereum.
Early token sales were held by Mastercoin in July 2013 and Ethereum and Karmacoin in 2014, but "mainstream" ICOs began with messaging app developer Kik in September 2017. By November 2017 there were around 50 offerings a month.
ICOs may fall outside existing regulations or may need to be regulated[4][5] depending on the nature of the project, or banned altogether in some jurisdictions, such as China and South Korea. [6][7]
A blockchain,[1][2][3] originally block chain,[4][5] is a continuously growing list of records, called blocks, which are linked and secured using cryptography.[1][6] Each block typically contains a hash pointer as a link to a previous block,[6] a timestamp and transaction data.[7] By design, blockchains are inherently resistant to modification of the data. The Harvard Business Review describes it as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way."[8] For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.
Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain.[9] This makes blockchains potentially suitable for the recording of events, medical records,[10][11] and other records management activities, such as identity management,[12][13][14] transaction processing, documenting provenance, food traceability[15] or voting.[16]
Pre-Sales Launch Expected January 2018 with Similar Bitcoin Type ICO Trading to Follow
IRVINE, CA, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Cannabis Science, Inc. (OTC Pink: CBIS), a U.S. company specializing in the development of cannabinoid-based medicines, announces it has negotiated an ICO with a major asset backed Blockchain participant.
This January 2018 Cannabis Science plans pre-launch sales of our own proprietary blockchain and will commence ICO trading with a unique three symbol trading symbol on a number of blockchain currency exchange markets after pre-launch sales have completed. The Cannabis Science blockchain white papers are being finalized now for January 2018 release.
“We have been studying the industry for some time now, we certainly believe that we have found something special for this blockchain arena, not just for the cannabis industry, but for so many unexplored industries and applications. This endeavor is outstanding for Cannabis Science for a number of reasons as our blockchain currency can be backed with real world assets for additional ICO trading security and comfort. Bitcoin has risen 1500% this year, about 85% in the last few weeks and Futures contracts open as of yesterday.
“With Cannabis legal in about 29 states and as many as 6 more on the Ballots for 2018, payment solutions are needed for dispensaries and customers so we plan on integrating the upcoming cryptocurrency to make this process more efficient for retailers and consumers.
“Today, most cannabinoid enterprises cannot open bank accounts, engage POS systems, and accept credit card payments. This forces the industry to use cash as the main transaction medium. Cash is employed to pay for rent, inventory, supplies, taxes, and all canna related B2C and B2B transactions,” stated Cannabis Science Inc., President & CEO, Co-Founder, Mr. Raymond C. Dabney.
From Wikipedia:
Initial coin offering (ICO) is a controversial means of crowdfunding via use of cryptocurrency,[1][2] which can be a source of capital for startup companies.[3] In an ICO, a percentage of the newly issued cryptocurrency is sold to investors in exchange for legal tender or other cryptocurrencies such as Bitcoin or Ethereum.
Early token sales were held by Mastercoin in July 2013 and Ethereum and Karmacoin in 2014, but "mainstream" ICOs began with messaging app developer Kik in September 2017. By November 2017 there were around 50 offerings a month.
ICOs may fall outside existing regulations or may need to be regulated[4][5] depending on the nature of the project, or banned altogether in some jurisdictions, such as China and South Korea. [6][7]
A blockchain,[1][2][3] originally block chain,[4][5] is a continuously growing list of records, called blocks, which are linked and secured using cryptography.[1][6] Each block typically contains a hash pointer as a link to a previous block,[6] a timestamp and transaction data.[7] By design, blockchains are inherently resistant to modification of the data. The Harvard Business Review describes it as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way."[8] For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.
Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain.[9] This makes blockchains potentially suitable for the recording of events, medical records,[10][11] and other records management activities, such as identity management,[12][13][14] transaction processing, documenting provenance, food traceability[15] or voting.[16]
