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Jibbit ICO Report – The Blockchain-based Cannabis Market

Standard ICO Report Structure:

  • Part 1: ICO Analysis (What is it about? What is the ICO intending to do? Describes what the platform is.)
  • Part 3: Useful Links (Further Research)

Part 1: ICO Analysis

Technology is one thing that is constantly evolving and paving the way for newer technological innovations, and the internet has contributed tremendously to the creation of newer systems that will enhance productivity. However, despite the versatility and features of the internet, certain things have not really been able to grasp the internet for their operations, and one of these things is Cannabis. There is a cannabis market operating globally, and a major contributor to the market is the use of cannabis for the production of drugs and other medical uses.

The negative image of cannabis caused by its abuse has made it difficult to bring about some modern change to the way it is being marketed. Some of the deficiencies of the cannabis market include the lack of transparency, security, and anonymity which has led to the distrust among participants in the market.

The blockchain which by default can make transactions anonymous, more secure, and transparent, is just the perfect system to bring solutions to the irregularities in the cannabis market, and with the help of the blockchain technology, the market and every cannabis related transaction within the network will experience better efficiency and effectiveness. With the discrepancies taking place in the traditional market, Jibbit was created as a blockchain based platform that would facilitate the connection and interaction with the global cannabis community, in a bid to ensure that the cannabis market does not have to be dependent of the centralized policies associated with the traditional financial systems.

Jbbit seeks to make a revolutionary move into the blockchain community, as a way to contribute its quota at making the world a better place, while ensuring that the sale and distribution of cannabis are transparent, secure, with a great deal of anonymity to protect the identities of participants.

How it Works –

With the blockchain technology, the Jibbit ecosystem will have a collection of suppliers, producers, and consumers, thus creating a platform where they can find and interact with each other. When transactions happen on the platform, the encrypted form of the transactions gets stored on the open ledger, and thus makes it accessible to anyone on the Jibbit network. Jibbit makes it easy for producers and manufacturers to transact while ensuring that the cannabis transaction is seamless and quick.

The Jibbit platform was created by a team of professionals from different fields and industries. Furthermore, the platform while bringing revolutionary change to the cannabis market will make use of the Jibbit token to facilitate the payment of services on the platform.

By using its own tokens, the growth of the ecosystem will be encouraged. Also, the Jibbit marketplace will allow the use of various payment options such as Jibbit, Litecoin, Bitcoin, Monero, Ethereum, EUR, and USD. The platform also comes with special offers and discount to participants that make payments with the Jibbit tokens. The platform is divided into Jibbit marketplace, Jibbit runner, and Jibbit doc.

Part 2: Crowdsale Analysis – Details & Token Supply

Total Token Supply: 700,000,000 JIB Tokens

Token Type: Ethereum based

Coin Distribution: The coins will be distributed as follows: 60% of the coins will be for the token sale, the advisors and team will get 10%, the development and marketing section will receive 20%, 5% will go into the reserve and for the founders, and 5% will be for the bounty and airdrop.

ICO Sale Phase: Sale Ongoing

Token Price: 1 JIB = $0.05 USD

Crowdfunding Usage: Marketing will receive 35%, 35% will be for development, Investment cannabis is to receive 10%, 10% for exchange and banking, backup and buyback 6%; Legal and admin to get 4%.

Team Overview- Members and Advisers

Herman Kutzer, Christian Winkens, Alexander Preis, Raif Hornek, Marco Heyse, David Poltorak, David Leitner, Frank Ziski, etc.

Part 3: Useful Links (Further Research)

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