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Ratings BitCanna

The Cannabis Blockchain Platform

BitCanna will provide a decentralized payment network, Supply chain and Trust network for the legal cannabis industry. Our confirmed partnerships have millions of customers that have immediate access to the product! This means that you can use BitCanna to pay at hundreds of (online) stores starting in 2019. Developed for the industry by the industry, BitCanna will enable easy instant payments. BitCanna will be accepted by all major players in the cannabis industry. In the future, the BitCanna platform will be used as a supply chain solution to enhance product safety, giving you more information about where your product is actually coming from. Finally, in addition to the transparent supply chain the BitCanna ID solution will also offer trust and review options. BitCanna has been created to solve the current problems facing the cannabis industry. It is an initiative formed from a strategic alliance of leaders in the European cannabis industry, hereby called the Bitcanna Alliance. This network contains the most prominent seed banks and cannabis dispensary firms in Europe, serving more than 10.000.000 unique visitors every month. With their shared interest they are committed to providing the best solution to address these challenges, and with their combined expertise they are capable of doing so.

4.1
6 5 expert ratings
Benchy 4.3
KYC
Experts
4.4
3.9
3.5
Review: coming soon PRO
~$16,000,000
value of tokens sold in ICO
Ended
Token
BCNA
Type
Price in ICO
0.1200 USD
Country
Whitelist/KYC
KYC & Whitelist
Restricted areas
Canada, DPRK, Ethiopia, Iran, Iraq, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, United States of America, Vanuatu, Yemen
preICO start
31st Oct 2018
preICO end
14th Nov 2018
ICO start
15th Nov 2018
ICO end
30th Jun 2019
Visit ICO website
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Ratings

All ratings published on ICObench serve informational purposes only. ICObench does not provide investment forecast, recommendations or any consulting for that matter. Thus, neither ICObench, nor the experts can be hold responsible for the visitors’ investment decisions. Read more
Clemen Chiang
Ph.D. | CEO | FinTech in Stocks | Blockchain in Cryptos | Author of Amazon Best Sellers in Online Trading
Rated on Sep 26, 2018
Modified on Oct 19, 2018
4
3
4
18%

KYC was conducted on key members in the team but failed! This is a serious flag.

Will be willing to review this rating again if the team responds.

Good luck.

~~~~~~~~~~~

Jan Scheele Passed
Sardjoepersad (Boy) Ramsahai Passed

Thank you for completing the KYC!

All four advisors are from legal background.

Will be good if the team expands the Advisory Board with wider coverage of talents to make this project successful.

All the best!

+2Agree
0
-2Disagree
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Lukas van der ZeeICO team member replied on 19 Oct 2018
Hi Clemen,

Thank you for your review and your feedback!

Kind regards,

Lukas
Hamza Khan
Consultant | ICO Advisor | Developer | Stellar Blockchain Expert |
Rated on Apr 23, 2019
5
4
4
13%

KYC ✔️
Team ✔️
Advisors ✔️
WP ✔️


Well experienced looking team, Decent number of advisors.

Gap between softcap and hardcap is huge. They have their own blockchain which may be the plus point for them. Good luck.

+10Agree
+10
Disagree
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Iulian Anghelin
ICO - STO - DAICO Advisor, Investor Relations, Public Speaker
Rated on Feb 26, 2019
5
5
3
11%

Excellent project with a vision that can prove successful if put into practice with attention to detail and commitment from the team. The sector in which they are trying to launch is a rather particular one, full of centralized competitors and now also decentralized, but also illegal, so it will not be easy, but the project has all the credentials to be successful.

Team wide and well composed, even if I could not find the Blockchain developer, while the advisors are only legal. Despite this there is a good activity on github, have been working for months on the product and are building their own Blockchain. They use the PHI1612 as a consensus algorithm, which is a hybrid algorithm, working with PoW and PoS, but they have decided to implement only the PoS, based on the Btc, Dash and Lux ​​networks with their own code. They are working in C++ which is a fairly complex language, so despite not having publicly found the Blockchcain developer, below, the work is done.

Social and communication channels held very well, updated and with a consistent and active community. The telegram channel is also "rich" in community and with a good and punctual service from the administrators. The website and the whitepaper made with accuracy and pleasant to see / read, detailed and treated in detail. For a project like this the best option is being open source and with own chain, so I fully support the team's choice to develop its own ecosystem. The distribution and use of funds are balanced and well distributed, but I have not seen any reserve fund, every company needs a reserve fund, be it Blockchain or not.

The business plan is clear and mass adoption will not fail if the team meets the necessary parameters. In addition, the token, thanks to the Pos, has a well-defined sense and helps the ecosystem to stand up, turning everything around it. Unfortunately there is still no MVP available and the Blockchain (according to the team members) is under development, but the testnet is not online yet. This explains my partial 3 to the product, but I will follow the trend in the coming weeks and as soon as the testnet is released I will try it and based on the operations I'll review the rating.

All in all, a great project, which only needs some touch and small improvements, but the way is the right one (in fact they have already reached the Softcap).

Good luck with Crowdfunding

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Alexander Mitrovich
Managing Partner, Usetech.com
Rated on Sep 14, 2018
Modified on Sep 14, 2018
4
4
3
10%

Very ambitious project, too ambitious actually. Own blockchain, payment solution, supply chain solution, rating, identity - you name it... That is not good since it's million times harder to execute. If they would choose one and then take on the rest if the first step is successful, it would be much less risky. They do know their market and have partnership relationships, which is very positive.

+1Agree
0
-1Disagree
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Lukas van der ZeeICO team member replied on 19 Oct 2018
Hi Alexander,

Firstly, thank you for your review!

I just want to clarify that we do not plan to implement all three phases at once. Our payment solution can be used starting in July 2019 (when the ICO has ended). We will relase our MVP of the payment solution in December of this year.

Our supply chain solution is scheduled for the second half of 2020, and our trust and reputation phase somewhere in 2021.

I hope this clears things up!

Kind regards,

Lukas
Craig Wilson
Corporate Strategy
Rated on Apr 28, 2019
Modified on Apr 28, 2019
4
4
3
8%

As the Canadian and US cannabis markets undergo huge investments, the challenge still remains for this industry to build a network and commerce infrastructure which provides payment and oversight of the supply chain. Banking and auditing continue to be roadblocks to full adoption.

BitCanna looks at the problem in a different way by building on a European network of cannabis providers with the BitCanna alliance. The alliance ensures the voice of the industry supports the massive growth and needs of the users of cannabis with its suppliers and distributors.

To manage the wake of adoption as countries and government grapple with the regulation of cannabis for retail and medical use. The industry has a higher probability to succeed if the underlying community is on the same vision to assignment which manage the supply chain from seed to dispensary.

Moreover, the capability to track, audit, and manage the thousands of cannabis products, offers a beautiful approach to govern the channels of commerce, point of sale, and scale across multiple payment gateways commonly used today in purchasing retail products today.

If Bitcanna can make it easy for Europe to adopt and enjoy cannabis, we should see other opportunities develop for this billion dollar industry.



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Benchy
ICO analyzer bot
4.3
40%

Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.

Ratings and ICO analyzer results are being updated (re-calculated) every few hours.

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ICO KYC Report
2 members invited
Jan Scheele
Passed
Sardjoepersad (Boy) Ramsahai
Passed
KYC procedure verifies selected/specific team members only. It does not guarantee ICO success nor is a call for investment.
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