The cannabis industry is exploding and Paragon (PRG) is the blockchain solution that is positioning itself as the solution to an evolving industry.
PRG has created ParagonSpace, what it hopes to be the hub of innovation and co-working for the cannabis industry. Developers of the blockchain solution have highlighted stability, verification, and legitimacy as the principles upon which it hopes to revolutionize the cannabis industry.
The office space solution is a much needed one in the cannabis industry for despite the current waves of legalization taking place, acceptance of cannabis as a legitimate, mainstream product is yet to take place in the wider social arenas.
ParagonSpace provides a cannabis-friendly community where entrepreneurs and businesses can interact without fear and with mutual respect for ideological positions on cannabis. The office space also creates the thrust of the networking capabilities that developers at paragon are hoping to mainstream. This cannabis networking is a vital part of the continued growth of the industry and so the blockchain involvement seems to be an almost inevitable and good match for all parties going forward.
Paragon has created a hub of blockchain solutions in the hopes that it will add some value and help revolutionize supply chain tracking in the cannabis industry. This is being implemented across a variety of out-facing and practical points of use for people in the cannabis industry. Top of the list is smart contracts, a unique feature inherent in blockchain deployments but one which PRG has dedicated towards the movement of goods and services in the cannabis industry.
Dubbed the ParagonChain, the supply management solution provides deep-level seed-to-sale solutions and lets active parties in seed-to-sale transaction interact in a way unprecedented in the new era of cannabis legalization. Interactions between parties such as cultivators and dispensers are drawn into a database, integrated using Paragon’s input data management capabilities and then launched as smart contracts.
This creates immutability and easy access for those parties concerned. The overall outcome is that batches of products are interlinked at every stage of their journey through the system, strengthening the supply chain and preventing the sort of supply chain problems that have plagued many businesses for years.
Of course the office space solutions and the supply chain solution are not the only real advantages that PRG brings to the table. The platform’s own digital currency is also well positioned. ParagonCoin is the digital token that powers and incentivizes the community. By being a currency that is marching in step with the future of money, ParagonCoin positions itself well as a source of innovation for the financial framework needed in the growing cannabis industry. On one level, it solves the immediate problem of the cannabis industry; that of accepting payments and the storage of wealth generated from the sale of cannabis. Funds are easily verifiable due to the smart contract component and people are able to move funds readily between parties, be it B2B, B2C, or C2C.
In terms of the coin itself, developers and users alike have seen its profile rise in recent times. Currently the coin is trading at around $0.09 and is up 16.73 over the last 24 hours. Over the last 30 days PRG has set a high of $0.18 which achieved on June 4, 2018. The low over the same period is just $0.06 and recent trading has taken the token from that low. How far can PRG go? No one knows at the present moment and it is almost impossible to predict where it will end up. But what is certain though is that PRG brings something to the cannabis industry that is not currently being emulated across the board. Definitely one to watch.