The Blockchain Industry Is Still Booming: Here’s Why

BitCanna
BitCanna
Sep 3, 2018 · 4 min read
With projected market growth for 2021 in the triple digits, the blockchain industry isn’t just set to expand, it’s set to explode. Are you ready? BitCanna Is.

The numbers are in; if you ever thought blockchain technology was a flash in the pan, the latest projections for the future market will undoubtedly convince you otherwise. A large part of why mainstream consumers have not considered blockchain technology as a serious replacement for current financial institutions is its lack of integration with traditional payment platforms.

However, as the market continues to evolve, the use of blockchain tech could form the infrastructure for a myriad of business sectors, not least of all the cannabis industry. If payment was as simple as using an app on your phone, would you consider giving it a go?


Business Is Booming

For many, the answer will be a resounding “yes”, in part driving the projected increase in total blockchain market value by 2021.¹ 2017 saw the blockchain technology market accumulate an estimated $339.5m, a respectable increase of 61% from the previous year. However, the headline figure for 2021 is a forecasted $2.3b, some 680% more than 2017’s year-end statistics.

To see such a dramatic increase in total market value is sure to raise a red flag for those convinced blockchains have no real use case in today’s society. There is no sudden rise predicted either; instead, every year foresees exponential growth until the headline figure for 2021 is reached. When you consider these figures are in unison with the rise of blockchain wallet holders,² the overall picture presents an industry that is starting to be recognised as more than just a digital ledger reserved for niche business sectors.

Blockchains Are More Than A Decentralised Digital Ledger

Now we know blockchain technology is here to stay — a result of its applications extending far further than previously thought. Recent developments have seen blockchain networks play a crucial role in how we manage the development of AI,³ offer instantaneous transactions for financial sectors, and in the case of blockchain networks like BitCanna,⁴ offer an integrated supply chain network tool for the cannabis industry.

When you consider the encryption required for verifying blocks or proving transactions, blockchain tech also presents the perfect candidate for large companies to use as a means of securing personal data. Unfortunately, as our lives and the related details exist more readily in an online space, high-profile information breaches are not only becoming more frequent, but inflict significant upkeep costs for companies. Blockchain technology could manage the same amount of data using half the resource costs, while being remarkably safer for consumers.

BitCanna Is Ready To Take Part

If the market is set to grow so substantially, what is the best way for blockchain networks to take advantage? In short, offer all of the functions listed above and more. For any blockchain network to be successful, it needs widespread adoption. There is no point owning a cryptocurrency that can only be redeemed at a handful of retailers.

So, if you require the support of an established network of companies both offline and online, or the ability to offer multiplatform payment options, the path to success seems clear. BitCanna is a blockchain network leading the charge in this respect. Mobile app-based features, a strain database, and supply chain and logistics tools for businesses are all integrated within the infrastructure of the blockchain network. BitCanna is aiming to bring cryptocurrency to the masses, providing a purpose-built solution for the cannabis industry.

What’s more, these are only a preview of the array of functions a purpose-built blockchain like BitCanna will be able to offer. When you think of similar services that provide feature levels of this standard, it is surprising that the projected growth of the blockchain market is not even higher.


BitCanna will provide a Decentralized Payment Network, Supply Chain and Trust Network for the legal Cannabis Industry.

Why BitCanna? We’ve summed up 10 reasons: 👇

1 Booming business
The global cannabis market is expanding at an extremely fast pace.

2 Powered by the industry
BitCanna has already established partnerships with the top brands in the industry.

3 World-famous brands
The BitCanna Alliance is already active in over 27 countries and globally connected within the industry.

4 Millions of visitors
The partners have over 10 million unique visitors per month.

5 15 Years of experience
Team with over 15 years of experience in the cannabis industry.

6 Custom blockchain Live at launch
The BitCanna main net will be fully live as a payment network with wallet 1.0 at launch.

7 Proof-of-Stake
A Proof-of-Stake blockchain will be used to process all BitCanna transactions.

8 Online integration
Direct integration with the biggest online shops at the launch of the project.

9 Physical stores across europe
Integrated with physical stores in Barcelona, Amsterdam, Eindhoven, and many more to come.

10 International media partners
Supported by well-known international media partners.

📖 BitCanna whitepaper v1.01 : http://bit.ly/2Lua44c

Let’s talk cannabis and blockchain. Join our awesome Telegram community

References

1. Statista. Size of the blockchain technology market worldwide from 2016 to 2021 (in million U.S. dollars). https://www.statista.com/statistics/647231/worldwide-blockchain-technology-market-size/

2. Statista. Number of Blockchain wallet users worldwide from 1st quarter 2015 to 1st quarter 2018. https://www.statista.com/statistics/647374/worldwide-blockchain-wallet-users/

3. BitCanna. Medium. Ai and Blockchain; Why The Hype? https://medium.com/@BitCannaGlobal/ai-and-blockchain-why-the-hype-2b6d35c034a3

4. BitCanna Homepage. https://www.bitcanna.io/

BitCanna

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BitCanna

BitCanna will provide a Decentralized Payment Network, Supply Chain and Trust Network for the legal Cannabis Industry. Join us: http://bit.ly/2NA4ECc

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