CCN Project: CannabisCoin and Cannacoin take first steps towards potential cooperation

It’s been a fascinating few weeks in the cannabis-related coin market.  Cannacoin (CCN) has come out strong on the heels of their convention held in September in Seattle, Washington. The team released Cannapay into open beta September 25th and announced a fork to Proof-of-stake 2.0 scheduled for October 20th.   CannabisCoin (CANN) has been leaking pictures and promising a large market for cannabis-related products available for purchase with CannabisCoin.

The Cannacoin team reached out to the CannabisCoin developer, DeltaNine, and began discussing ways in which the two teams could operate independently but work together in the future. The Cannacoin team wasted no time in adding CannabisCoin as the first alternate trade market in Cannapay.  For the first 10 days of beta, there were only two markets, CCN and CANN.  This gave CANN users the ability to test the platform and check it out before others.  The team claims to have received quite a few beta testers from both communities, currently numbering around 35 active accounts according to developer SubCreative.

In addition, SubCreative has reached out and offered to help CannabisCoin and Potcoin with development needs and continues to do so.  He recently fixed the ticker for the Potcoin subreddit and is waiting for the moderator to implement the fix.

From the beginning, it seemed as though cannabis and crypto were destined to ride together.

CannabisCoin has been working diligently on making 1 CANN = 1 Gram of Cannabis (CANNdy strain) possible through their partnered dispensary, Herbal Wellness Center and potentially three other dispensaries.  The system will have a series of rules in place to limit the supply of cannabis available to patients, and like all new things, nobody knows exactly how it’s going to play out.  That’s why they’ve adopted the popular twitter phrase #YesWeCANN as their slogan, which has been in use by others but gained new meaning thanks to CannabisCoin.

The Cannacoin team has taken a turn in a completely different direction than CannabisCoin and Potcoin.  In addition to offering CannabisCoin a spot in all of their products and services, the Cannacoin team expanded the definition of CCN and created a larger entity which all of their products and services will operate under, the Cannabis Community Network (CCN).

The CCN team has decided to move their network to Proof-of-Stake 2.0 based on the Blackcoin codebase, begin buying coins off the market aggressively, and announced that they will start paying dividends to those coins in the future.  They’ve tentatively dubbed this Cannashares. Wallets that hold a minimum of 10,000 coins for 30 or more days in hot or cold storage will earn dividends from profits of all goods and services developed by the team.

You can read the CCN FAQ here. They did this in order to differentiate themselves and expand the market for cryptocurrency outside the realm of just currency.

Part of this breakout was to brand Cannacoin as not just a coin but also as shares in an innovative and devoted development team.  CCN Project will be made up of business entrepreneurs that will offer dividends to owners of their coin.  It’s an interesting concept considering there was no pre-mine for Cannacoin.  This means that not a single coin was created by the developer, instead all of the coins were mined by miners on the network.  By re-branding a cryptocurrency as essentially a stock, they are empowered to purchase those coins and buy-back stock in their own decentralized development team.  CCNProject and CANN are showing development and innovation in different directions and can offer cannabis companies a fast-track into the future through their platforms.

In short, once Cannacoin goes to proof-of-stake, owners will be rewarded a 1% annual interest rate for staking coins in their wallet.  On top of that, they will be rewarded 1% dividends from profits of their many products and services.  They just released a FAQ and are actively answering questions through the Announcement thread: https://bitcointalk.org/index.php?topic=740903.msg9135405#msg9135405

As for CannabisCoin, it looks to be very positive for the cannabis industry and for cryptocurrency if it can be pulled off successfully.  Investors in CannabisCoin and Cannacoin should be very happy with themselves for getting in early on these projects.

 

 

Disclaimer: This CoinJoint writer is a CCN Project team member and investor in CCN.

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Donate CannabisCoins: CXj7kxgGt9LNiHL5dJXTQfL6hwUNQEsU3B

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Donate Cannacoins: CVGn7nptGvqLmNWv7k5AdmXcb6wYwwLfEd

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