There have been a number of exciting ICO’s of late, but arguably the most exciting of all is the newly launched Paragon coin. Headed by Jessica Versteeg, Paragon is looking to implement safety, responsibility and transparency in the cannabis industry.

What is Paragon Coin

In short Paragon is a blockchain based company that will look to combine blockchain technology with the somewhat divided world of cannabis. from what we gather they are looking to create an infrastructure in the cannabis industry by beginning in the 29 states where cannabis is legal.
Their whitepaper summarises how the cannabis industry is regarded as “fragmented, untrustworthy and illicit”. However, through the use of distributed ledger technology (DLT) they will look to change the industry for the better.

Paragon believe they can achieve this by modernising the industry, making it standardised as well fully verified and finally by creating an economy based around trust between doctors, patients, growers and suppliers. Blockchain technology can help them do this as it will be able to “easily accommodate the recording and storing of all product life cycle events, verify patient identification, assure payments and more”.

How will Paragon Coin Work

In the 29 states where cannabis is legal, Paragon will implement some of the following:

  • ​Business mentors and advisors
  • Conference, event, research and educational space for the legalised cannabis industry
  • Photo/audio/video studio
  • a Member dashboard

These features along with others will make up what is known as the Paragon offline platform. The online platform will consist of two parts;

  • API’s – “APIs give access to all non-private data accumulated in blockchain. Community posting allow for voting (votes = earnings). Community controlled fund allocation.”
  • Online Community – “ParagonOnline is by design a “community-based” online space, where tasks, functions, goals and priorities are defined and re-defined in real-time, by the community.”

​The online community will effectively decide on how the community develops, “community members will be offered space based on their standing in the community”, there influence will be affected by other community members, who can upvote or downvote them. The community will be able to decide on a number of developments including:

  • Current Legal Issues
  • Political Legalisation
  • New Business Ideas
  • Technical Development
  • New Priorities

Why should you invest

like with any ICO event there is always the risk that it is not successful. However, there are a number of reasons to invest in Paragon Coin.

  1. Jessica Versteeg, former model and Miss Iowa 2014 not only has a large social following, but she is the co-founder and current CEO of Au BOX inc. Au BOX is a luxury subscription service for medical cannabis, meaning she knows the industry very well and is well respected within the industry.
  2. There is a very clear vision for Paragon, they have laid out their road-map clearly. They have explained how the token will work and how the community will work.
  3. There is a star studded advisory board, including American Rapper ‘The Game‘ who tweeted about Paragon on 10th August saying “Preparing a cannabis revolution with blockchain.”
  4. Paragon pre-sale was a sell out, in which they sold a total of 70,000,000 Paragon Coins (PRG), demonstrating just how popular this project already is. If Pargon Coins continue selling at the rate they have been you will not have much more chance to get involved.

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By | 2018-07-11T16:07:44+00:00 September 16th, 2017|Token Review|0 Comments

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