The Tokes Platform provides blockchain solutions for the cannabis industry.

WHAT IS THE TOKES PLATFORM?

The Tokes Platform was founded to solve the legal cannabis industry’s banking problem via cryptocurrency payments, however we now provide several software solutions for both payment processing and supply chain management. Please see our whitepaper and Platform page for more specific details on these services.

“Tokes” ($TKS) is the cryptocurrency used for payments on our platform, either business to business, or consumer to business.

WHAT IS CRYPTOCURRENCY?

Cryptocurrency is digital money created, held, and spent electronically around the world. With cryptocurrency you can buy products on the Internet, in person, or exchange it for other currencies.

Some cryptocurrencies are “mined” from complex code that must be solved like an algorithm. Computers that support the transactional functionality of cryptocurrency are sometimes known as nodes or miners. In some instances, these miners are rewarded for processing the networks transactions.

WHY USE CRYPTOCURRENCY?

Our current banking system requires a third party to record and verify transactions and this information is stored privately. This system is inefficient and vulnerable to human error and malice.

Cryptocurrency is secure and efficient because it consists of a network of peers. Every peer has a record of the complete history of all transactions, and thus the balance of every account.

This transaction list is called a “Blockchain.” Though it is used for financial transactions, it can be programmed to record virtually anything of value.

HOW DOES A TRANSACTION WORK?

Every transaction is made possible with two unique elements: public and private key.

A public key is like your account number and the private key acts as your PIN. Like the name suggests, your public key is accessible to anyone but only you know your private key.

Once a transaction is made, it is known almost immediately by the whole network. After a specific amount of time, the transaction gets confirmed. When a transaction is confirmed, it is set in stone. It is no longer forgeable, it can‘t be reversed, it is part of an immutable record of historical transactions: the blockchain.

The blockchain is not stored on a central server, but is processed by users across the entire distributed network solving cryptographic puzzles with their computing power.

After finding a solution, a block of transactions is processed and added to the blockchain. Sometimes as an incentive to the user who solved the block, as in the case of Bitcoin, they receive a “block reward” granting them a specific number of tokens. In other instances, tokens can be created ahead of time (but never again) to serve a specific purpose on a network.

The Tokes Platform provides blockchain solutions for the cannabis industry.

WHY DOES CANNABIS NEED CRYPTOCURRENCY?

Due to the federal regulatory environment, cannabis sales are only legal at the state level of government. Essentially, the only way to do business is in cash. This is a headache for dispensary operators. The Tokes Platform provides a convenient and safe digital solution for both merchants and consumers. In the midst of this cash hurdle, the legal cannabis industry is compliance heavy, requiring cultivators and dispensaries to keep meticulous track of their businesses. Our supply chain solutions provide blockchain based tracking and compliance from cultivation to analysis, to out-the-door packaging.

With blockchain technology, we can track and store information about genetic strains, testing data, and harvests.

HOW DO I BUY THINGS WITH TOKES?

Our mobile app will soon allow consumers to get information on strains find dispensaries, and pay for goods instantly. Presently, customers can spend Tokes using the mobile Waves Wallet at participating dispensaries. We support our industry partners with installation and training on any new hardware or software integration required for Tokes integration.

Our supply chain solutions allow businesses to easily transact between one another digitally, and use blockchain based tracking to ensure appropriate supply, delivery, and tracking.

Tokes enables the two-way conversion of paper currency into digital currency and offer asset pegging as an option to retailers so they don’t have to worry about the volatility in cryptocurrency pricing.

WHY TOKES, WHY NOT JUST USE BITCOIN?

Tokes is bigger than providing a temporary solution or service. The success of Tokes is merely a stepping stone to our end goal. Education is the most critical aspect of user adoption, and has been largely overlooked by other projects. We are operating in a technologically advanced space, and although we understand the mechanics of cryptocurrency, it’s no secret that 95% of the population does not. We’re undertaking huge efforts to educate and inform partners at the merchant level on how to adopt and implement our technology right into their dispensaries. We’ll further these efforts by similarly teaching the consumers on how to use the technology.

Not to be overlooked, one of the greatest marketing advantages we have as a business is that we have immediate access to approximately 85% of the local dispensaries in Las Vegas, while our partner TheraCann has offices in the Mid Western U.S., Canada, Germany, Australia, and South America. What sets us apart from other cryptocurrencies is that our user scope is wider. Aside from the retail dispensary customers, we engage with cultivators, labs, and ancillary industry partners.

While our execution is large in scope and disruptive at scale, we also pride ourselves in our attention to detail. Our transaction fees are less than a penny and only take a fraction of the time it takes bitcoin to complete a transaction (typically averaging 30 seconds).

For more information about our services, please read our whitepaper, the platform portion of our site, or our frequent news updates. If you’d like to chat with our team directly, please join our Slack channel using the link at the bottom of the page, we’d love to hear from you.