Budbo is an online platform that depends on Blockchain When Cryptocurrency To organize and provide functions and services aimed at organizing and catalyzing the global cannabis industry. The A company based in the British Virgin Islands May be the focus of healthcare professionals, researchers, farmers, patients, businesses, and a community of government agencies operating in a collapsed but fragmented industry with great potential for growth and opportunities. I think there is.
The challenge arises from the nearly revolutionary speed at which the cannabis landscape changes. Governments at all levels, and around the world, have moved away from the complex laws and regulations on cannabis and plant constituents. Cannabidiol (CBD), strict enforcement of compliance, legalization (in any form), and even encouragement.It unleashed a fast-growing industry from Seeds to sell.. The industry includes producers and their seed suppliers, global transportation, product dispensing, delivery systems, a mini-boom in medical and product development research, and, of course, the recreation and medical user markets. actual, U.S. legal cannabis market It could reach $ 43 billion by 2025.
Explosive growth is associated with issues such as the origin of many products, the type of cultivation, and uncertainty about their chemistry. It also affects the expected effects of ingestion or inhalation by users of various ages and health conditions. Government regulations depend on the jurisdiction (state by state in the United States) and what it is trying to control and how. These problems result from a lack of research on plant lineages and products, and a gap in knowledge about the supply chain of a particular product, from seed production to commercial preparation, including the production of CBD products.
After becoming widely known about five years ago, with the advent of five dozen founders and the adoption of blockchain and cryptocurrencies, Budbo fell into a legal struggle. The long-awaited revival of the new website began in 2020. Since then, we have created and improved what appears to be the company’s flagship product. Platform version # 2, search, learning, comparison, and cannabis stock and product ordering (Project Phoenix).
Budbo features and services based on blockchain
For consumers, the platform provides search or match capabilities for thousands of products locally available to searchers. Budbo uses the blockchain to track and validate the supply chain of cannabis varieties and stocks. Seeds to sell.. This includes seeding, cultivation, curing, shipping, retail preparation, and other steps. It may also address unknown or misrepresented source issues and the handling of cannabis and CBD products.
This platform allows you to order to receive or deliver to a specific supplier (usually a pharmacy). Budbo integrated wallet Purchase safety and simplicity.. The Budbo token ID is BUBO and the token standard is ERC20. Budbo Tokens will be a digital utility that provides access to the Budbo platform and its services and supports transactions within the Budbo community.
The Budbo protocol layer is Ethereum, which is the second most valuable crypto blockchain. Bitcoin..this Generally praised For its programmable smart contracts. The challenges of scaling up, such as slow transaction speeds and high costs, may not be an issue while Budbo remains a startup. The consensus mechanism is proof of work. Introduced about four years ago, Budbo Token stopped trading when the company was involved in a legal struggle.It was Reintroduction About 2 years ago. It soared to a high of almost $ 10, but is now trading near the low of $ 0.02.
Budbo’s tracking application, supported by the blockchain, is touted as providing unprecedented visibility for valuable cargo. Shipment tracking includes all stages from the farm warehouse to the fleet of manufacturers or retail delivery drivers.To achieve this, mobile and electronic onboard recorders Telematic solution using blockchain..
By 2025, about 5.5 million Americans (2.4% of adults) Register as a patient In the state of medical cannabis. Budbo uses blockchain to provide immutability ledger About the chemistry of cannabis and CBD products, dosages and their effects, clinical studies of the health effects of use, and research results related to efficacy and side effects in medical use. The entry to the platform includes access to this blockchain database. Use BUBO as universal API The key is to be able to provide Budbo auxiliary cannabis industry services such as test labs and facilities. Store sensitive data Budbo’s immutable ledger.
Patient identification verification on the Budbo platform has impressive potential to support prescribing and users of medical cannabis products. The US Food and Drug Administration (FDA) has approved cannabinoids to alleviate this condition. These include severe epilepsy, nausea, vomiting from cancer chemotherapy, and loss of appetite associated with weight loss in AIDS patients. And there are other examples. With a doctor’s prescription, patients will get these products refunded with health insurance. Recreational users often buy the same product at a considerable cost.
As individual states enact legislation, the potential for unauthorized acquisition of products can be countered in various ways.For example, the California Public Health Service Medical marijuana ID card A program system for issuing state-approved medical marijuana ID cards and implementing an online verification system. The state system allows law enforcement agencies and the general public to ensure that patients or primary caregivers are authorized to “own, grow, transport, and / or use medical marijuana in California.”
States that legalize the “adult use” of cannabis and its derivatives have different approaches to compliance. Budbo uses a blockchain ledger for transactions from buyer identification to credentials verification, purchase and delivery records to medical marijuana prescribers and state compliance agencies, such ubiquitous. Provides a potentially centralized site with high security against insurance fraud, including issues with the use of overdue identification cards.
Another possibility of Budbo’s blockchain ledger that may help prescribers of medical marijuana and its products is the chemical composition of the product, the effects of dosage, and the doctor’s approval of patient prescription changes and reorders. Validated information about other research databases entered in the decision.
Budbo has a “Wild West” to win
The speed and scale of the cannabis industry’s growth, and changes in the United States alone (and Budbo’s ambitions are global), argue for the applicability of Budbo’s blockchain technology. Players in the legalized cannabis scene (pharmacy, producers, shippers) have come to exist with little “organic” organization or self-regulatory system. Many of the legalized cannabis scenes are experimental.
But it’s the black market for cannabis and CBD products that has the potential to drive the growth of Budbo and its blockchain. Services and functions via cryptocurrency.. A Widely referenced report It states that 141 million American adults live in 18 states that allow “adult use” of cannabis. This is about half of US annual cannabis demand met by legitimate purchases in regulated markets. But that leaves a huge black market where annual cannabis demand and consumption is estimated at $ 65 billion. Both legalized and illegal markets show exponential growth.
This is the “ecosystem” that Budbo has set out to tame. Secure online purchases, confirmed pick-up and disembarkation of deliveries, life cycle of certified product events, urgent issues of medical patient identity verification, and a robust database of related research, all supported by blockchain technology. Masu) gives Budbo an edge.
The founders of Budbo seem to be enthusiastic about their mission in this market. They fought hard to regain legal control of their essential ideas and technology. Matching blockchain and cryptocurrencies with the challenges of the legal and illegal cannabis market seems like a promising marriage.
It is a small startup in a high potential field with powerful technology. However, to invest now, you must accept the volatility and risk of the crypto market. Another way is to monitor this new company and move far away from the technology curve of the field to determine when to reach the investment sweet spot.