Paragon (PRG)


 

Safety, Responsibility and Transparency in the Cannabis Industry


Cryptocurrencies are quickly going mainstream, and there have been a large number of ICO’s lately. One of the latest ICO’s, and in my view, one of the most potential ones, is Paragon. Paragon is a California-based cannabis startup and wants to create a cryptocurrency for business-to-business transactions in the marijuana industry, along with a blockchain-powered supply chain system for legal transparency and quality assurance.


Quoted from this article in the International Business TImes:

Paragon is simply taking disparate ideas for cannabis industry smart contracts and cryptocurrencies, then streamlining them into a simpler, more cohesive approach. Blockchain solutions could track cannabis products from seed to consumer. This could go a long way towards professionalizing the marketplace. “I think what people want is trust,” VerSteeg told International Business Times. PRG tokens wouldn’t be used by customers buying medical marijuana. This isn’t “just another cannabis coin,” as VerSteeg said some critics suggested. Instead, PRG tokens would be traded between suppliers, transporters, dispensaries and all the businessmen in between facing the same cash flow problems.

“The beautiful thing about the Paragon project is they are combining the technologies that actually make sense. Rather than creating a token specifically for a certain transaction, they are using pre-existing protocols to actually build a framework,” David Sonstebo, founder of IOTA foundation, told IBT. “All the way from whether we can measure the PH levels in the soil, whether they use herbicides or pesticides in the crop itself, how the crop was actually prepared before it was sent off to the clinic…you get this complete provenance that is completely tamper-proof.”


 

3 Reasons For Success


I’m part of the Advisory Board (need I say more?) and it’s a pleasure to work for this project. There are three main reasons I have great confidence Paragon will become a huge success:

1. Management Team;

2. Paragon’s Solutions;

3. The Cannabis Market Potential.

1. Management Team 


Jessica VerSteeg is a model and former Miss Iowa 2014, and she launched her first cannabis startup in 2016, the luxury subscription service AuBox. Now she wants to kickstart a new cannabis ecosystem by raising up to $100 million with Paragon’s September ICO. She’s teamed up with rapper The Game to promote  PRG tokens from her new blockchain company Paragon. Her husband and business partner, Egor Lavrov, has been mining bitcoin and engaging with the tech industry for much longer. Ukrainian fintech entrepreneur Vadym Kurylovych serves as Paragon’s CTO.

2. Paragon’s Solutions

(click to enlarge)



How Paragon will Add Value to Supply Chain


 

3. The Cannabis Market Potential


North American sales are projected to grow by 25% annually for the next 5 years and the global medical cannabis market is expected to reach 56 billion by 2025.

And I think that’s even called being modest. The cannabis market is a growth market, that’s a no brainer, and one of the few market segments that will see double digit growth in the future.


 

 

There you have it, the 3 reasons why I believe Paragon will become a great success.

 

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Read more – Paragon in the Media


Beauty Queen Turned Cannabis Entrepreneur Launches Blockchain Startup

Blockchain to Streamline the Legal Marijuana Industry via Paragon Coin

Rapper The Game Is ‘Preparing A Cannabis Revolution’

 

 

 

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Disclaimer: I have a position in PRG, so my views might be biased. Do your own research before you contribute (to anything). Never bet the farm. Take the risk you’re able to carry.