JIBBiT - Where Blockchain Meets Cannabis

Hallo meet again with me sarta afdal, I will explain Blog I will introduce about JIBBIT project, and for more details let’s go to the following discussion:

CANNABIS INDUSTRY

Hemp or Cannabis is one of the oldest and most diverse crop in the history of mankind. Since centuries, Cannabis played an important role economically in the supply of fibers, food and medicine. Currently, the Cannabis industry is one of the fastest growing industries in the world.
In the field of medicine, Cannabis host a variety of functions and play a vital role in the regulation of pain, stress, appetite, immune system etc.

Medical Use of Cannabis

As countries across the globe liberalize their cannabis laws, the global cannabis market is expected to reach $63.4 billion by 2024, with an annual growth rate of around 21.1%

However, there are problems which is currently affecting the Cannabis industry, which the JIBBiT project aims to solve.

Some of the problems are:

> P1. Need for payment options with cryptocurrencies for cannabis and accessories
> P2. Strong growth in the no. of cases of prescription counterfeits
> P3. High transaction costs of banks and other payment service providers
> P4. Too long transfer time affecting the delivery
> P5. Non-offering of anonymous transactions with banks
> P6. Need for simple, faster and safer procurement of legal cannabis

JIBBiT Solutions

> S1. JIBBiT ecosystem promotes and allows payment with cryptocurrencies
> S2. Prescriptions are secure and tamper proof by deploying solutions based on blockchain technology
> S3. Significantly low transaction costs due to blockchain technology
> S4. Significantly faster and safer transactions
> S5. Transparent transaction execution with fully verifiable ledger
> S6. JibbitRunner allows ordering and delivery of legal recreational cannabis in a simpler and faster way

The JIBBiT project is conceptualized by the company registered as "Jibbit Gmbh" in Mittelstraße 11-13, 40789 Monheim am Rhein, Germany.

JIBBiT ECOSYSTEM

JIBBiT Ecosystem

The JIBBiT ecosystem uses blockchain technology to execute transparent, anonymous and safe payment transactions for all the parties involved in the ecosystem.

The JIBBiT ecosystem primarily consists of 3 core elements: -

JIBBiT Marketplace - It is the core structure of the JIBBiT ecosystem. It is the marketplace for cannabis accessories. Patients, consumers and growers can use JIBBiT Markeplace for shopping cannabis accessories.a

JIBBiT Doc - It is the portal and interface for patients, doctors and pharmacies. The 1st platform solution will be made available in Germany.

JIBBiT Runner - It is the cannabis delivery service for delivery of THC containing cannabis products. It aims to become the next UBER for cryptocurrency based delivery of marijuna.

JIBBiT PROJECT' SWOT ANALYSIS

STRENGTHS

Strong and experienced development team
Early market lead
Good and sufficient capital base
Solid knowledge of the cannabis market
Big contact network in the cannabis and crypto sector

WEAKNESSES

Yet to build the customer base

OPPORTUNITIES

Global legalization of medical related cannabis products
Global legalization of cannabis products for private consumption
Further growth in acceptance of mobile and internet shopping
Growing acceptance of the blockchain technology and cryptocurrency

THREATS

Competitive market with growing competition
Possible regulations affecting the crypto industry (cryptocurrencies)
Overall, the SWOT Analysis for the JIBBiT project illustrates that the business model of JIBBiT has more strengths and provides more opportunities than weaknesses and threats.

JIBBiT (JIB) TOKEN

The JIBBiT (JIB) Token will be the utility token used on the JIBBiT platform. The JIBBiT ecosystem will be hosted on the Ethereum Blockchain Network and the JIBBiT (JIB) tokens will be ERC-20 compatible tokens.
The total number of JIB tokens to be issued will be limited to 700 Million tokens with 420 Million tokens placed for sale during the token sale period. The price per JIB token is fixed at 1 JIB = US$ 0.05.

The token sale is expected to start on 1st Jun 2018 and would take place on the JIBBiT portal i.e. www.jibbit.io. The token sale will end either on the date once the project reaches the hard cap target of appr. $18 Million or on 31st Aug, 2018, whichever is earlier.

[Note: - There will be restrictions on token sale for nationals of US, Republic of China, HK SAR, Canada, Singapore, and countries which are covered United States embragoes, such as Iran, North Korea, Sudan, Syria.

JIB Token Distribution

JIB Project - Use of Proceeds

The JIBBiT team consists of people containing wider range of experience in the fields of finance, blockchain technology, computational visualization, application development etc.
For more information on the JIBBiT' team, please refer the following link: -
https://jibbit.io/#team

CONCLUSION

Thus, the JIBBiT project is one of the most conceptualized projects which strives to develop blockchain based ecosystem for the Cannabis industry operating in a legalized way. It aims to bring decentralization and anonymity and build an cryptocurrency led ecosystem for the Cannabis industry.
It targets to bring the next 200 million people into the world of cryptocurrencies.

ROADMAP

For more information, please follow the links below.

Website : https://jibbit.io/
Whitepaper : https://jibbit.io/Whitepaper.pdf
Facebook : https://web.facebook.com/Jibbit-1196046843831431
Twitter : https://twitter.com/jibbitico/
Reddit : https://www.reddit.com/user/jibbitico
Bitcointalk : https://bitcointalk.org/index.php?topic=4315020

Autho r: sarta afdal17

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