The Agriculture Improvement Act of 2018 (2018 Farm Bill) authorized the production of hemp and removed hemp and hemp seeds from the Drug Enforcement Administration’s (DEA) schedule of Controlled Substances. This bill has allowed several farmers in the United States to begin processing medical marijuana, opening a new market in the country. Every year more states decriminalized marijuana allowing the medical benefits of the hemp plant to continue to have a positive impact on the American community. Furthermore, the CBD industry is one of the fastest-growing retail segments globally. Forbes estimates the global market for CBD will reach $20 billion by 2041, a huge increase in sales of approximately $500 million in 2018.
Greenheart CBD is a company that recently created a cryptocurrency token called $CBD. $CBD is currently located on the Binance blockchain and utilizes the Constellation Network’s protocol. By using these technologies, the Greenheart CBD Token dApp can avoid the very high transaction fees that have become prevalent on mainstream token protocols (like Ethereum or Avalanche).
The company’s goal is to increase farmers’ income across the world by providing them with all the tools and knowledge they need for CBD production. By leveraging advanced Artificial Intelligence drone technology and Big Data analytics, they will be able to maximize returns from CBD cultivation, providing farmers with much higher income compared to existing agricultural crops. The company is striving to provide a full suite of equipment and education to farmers around the world to grow CBD, substantially increasing their incomes and improving their quality of life for themselves and their families.
Tokenomics
Conclusion
I have personally attempted to start my own CBD business and I can proclaim that American banks have failed many entrepreneurs. This project has the potential to be very successful in the long run if the business model doesn’t change. Farmers and the entire Hemp industry need funding. Farmers across the world will be able to apply for loans through the dApp. When farmers pay back their loans a portion of the funds will be distributed back to $CBD holders. I believe CBD and other chemicals from the Cannabis plant will help improve the standard of living for people worldwide. I’m excited to see how this project grows on their ideas of staking $CBD, NFTS, and creating their own CBD business.
