At the Irish company GreenHeart, CBD and tokens come together. The public pre-sale of the ERC-20 token “GreenHeart Punt” on the LATOKEN platform has been running since November 2020.
The project aims to address the challenges of the CBD industry and harness the benefits of blockchain for the industry.
A Green Vision from Ireland
Those who take part in the IEO benefit from bonuses between 20% and 50% in November, depending on the date the token was purchased. The entrepreneurs’ vision is about Irish-made CBD products: from seeds to finished products.
The entrepreneurs explain:
“We want to help farmers produce the best organic hemp plants and process them in the most natural way possible using cold press extraction machines. We have spent years researching extraction methods to develop homogenized cold press extraction that can produce the most effective CBD products for the end user with full traceability from seed to shelf.”
The aim is to bring 200,000,000 tokens into circulation by December at a price of $0.10 per token. The tokens are secured with 1,000 liters of CBD oil, i.e. an approximate retail value of $4 million. The token holders can redeem their tokens for CBD oil.
Addressing Industry Problems?
GreenHeart tries to solve industry problems with the company’s own dApp marketplace. There, customers can shop with GreenHeart tokens or Ethereum.
The Company Explains:
“With the advent of cryptocurrencies and the proliferation of inexpensive smartphones, now is the time to allow people without access to banks to participate in the new internet economy. Users from all over the world can now transact with one another on GreenHeart punt marketplaces even if they don’t have stable local banking systems in place.”
— World CBD Awards (@WorldCbdAwards) October 29, 2020
GreenHeart wants to use the funds raised from the token sale to solve some industry problems, but also to take the company to the next level. This includes buying new land for CBD production, switching to new products, building and using groundbreaking “CBD Tech,” and more.
GreenHeart is therefore not only interested in creating high-quality products from its regional production, but also about implementing decentralization. The “CBD Tech” division, in particular, shows that the technology behind cryptocurrencies has great potential.
Decentralized marketplaces promote open and free trade. Unlike centralized alternatives, there isn’t a single point of failure and they can’t be locked or shut down. Decentralized trading is more resilient and promotes efficient markets.
And GreenHeart entrepreneurs believe in the area’s longevity. In the next four years, GreenHeart will offer 200,000,000 new tokens for sale every December 1st. In total, the CBD producer is selling 1,000,000,000 tokens.