The Tokes transactional protocol is a payment layer built on blockchain technology enabling users and businesses to transfer money electronically in the cannabis industry. Running on the Waves blockchain, Tokes are a robust cryptocurrency with fast transaction times (less than 1 minute) and a secure immutable digital ledger. Currently, cannabis dispensary customers must purchase products entirely in cash due to federal prohibition of cannabis banking. The Tokes transactional protocol provides a means for dispensaries to accept digital payment via mobile app transactions, and not bear the liability of conducting business entirely in cash.
A larger aim of the platform is to provide a business to business solution for the cannabis industry. Not only are current cannabis customers required to pay in cash, but businesses must also transact entirely in cash within the supply chain. Whether a dispensary is paying the cultivator for a new batch of cannabis flower, or having large batches of raw cannabis material processed into concentrate at a lab, or even conducting weekly payroll to employees; all of these payments are being transacted in cash! This presents a huge liability of potential theft and fraud, while adding additional headaches to accounting and financial compliance in an industry with strict
legislative requirements. By providing both a digital ledger and a means to make payments digitally, the Tokes Platform eases many of the financial headaches of doing business in the cannabis space.
For existing cash reserves and ongoing sales, the Tokes Platform can help transfer cash to the blockchain, serving as a legal money services business (MSB), compliant with all AML and KYC requirements. By providing businesses with a blockchain backed store of value, cash onramping services removes the liability of banking seizures or forfeiture, and gives cannabis businesses control of their assets. Our team can provide training and services to business operators, empowering them to control their private wallet keys and ultimately achieve an economic freedom via cryptocurrency, not provided by conventional banking.
By combining the transactional protocol with a turnkey enterprise resource solution, Tokes will be at the forefront of technological innovation within the cannabis business, providing financial and supply chain management solutions that ensure state legislative compliance, while reducing overhead costs, minimizing liability, and increasing output.
The merchant gateway is a software protocol in development by the Tokes Platform that seamlessly facilitates point of sale and online transactions in cryptocurrency for any business. While the obvious use case for cryptocurrency within the cannabis space dictates that the industry will be our initial focus, the merchant gateway can be adopted by any industry or small business in order to facilitate cryptocurrency payments. The gateway will calculate the amount of a particular cryptocurrency needed to pay for a purchase, taking into account market liquidity across multiple exchanges. Cryptocurrency markets can be volatile, the merchant gateway will facilitate the sale of cryptocurrencies via API integration with exchanges, in order for businesses to chose their level of volatility exposure. For example,
a more conservative approach would be to sell the cryptocurrency for USD (or purchase a stable pegged asset like Tether or WavesUSD). Alternatively, some businesses may want the the potential upside exposure to more volatile cryptocurrencies like Bitcoin.
Initially this technology will be utilized at dispensaries accepting Tokes, but ultimately the gateway can be used to accept any number of cryptocurrencies across industries. Vendors will be able to accept any cryptocurrency at their physical point of sale, or for online businesses via online cryptocurrency payments. This is a subscription model, and clients utilizing the gateway will purchase access to our services using Tokes.
Enterprise Resource Planning (ERP)
In conjunction with TheraCann, the Tokes Platform provides a single system solution for supply chain management within the cannabis space. Supporting fully vertically integrated software solutions from seed to smoke, we engage with clients in the plan, design, implementation, training and support of their supply chain. This
includes cultivation, processing, packaging, quality assurance, and security, all of which have strict regulatory protocols within the industry. Compliance is key, as our solution provides a blockchain backed enterprise resource platform that ensures standards are met on a jurisdiction by jurisdiction basis.
Automated systems for accelerated commercial growth while fulfilling all legislative compliance requirements.
Fortress-like advanced equipment and analytics utilized to minimize loss from grow, to transport, to sale.
Decades of experience and expertise ISO 17025 laboratory design, equipment selection, commissioning, and training.
Utilizes customer feedback coupled with scientifically backed industry best practices in order to best inform and shape marketing and sales practices.
In development in conjunction with TheraCann, we will provide Over 35 years of experience in hard capsule manufacturing, and partnered with industry professionals specializing in cannabis product packaging compliance.