Despite the rising interest in the cannabis industry, start-ups still face difficulties when it comes to setting up businesses.
Similar to crypto institutions, cannabis businesses struggle to access financial services from banks and other payment providers. These businesses would either be denied financial services outright or have to pay exorbitant fees for receiving them.
BitCanna a global blockchain technology company Utilizes blockchain and cryptocurrency to offer an alternative in the form of cashless payment.
BitCanna guarantees cannabis companies can gain access to financial services through blockchain. Instead of dealing with the restrictions set by credit card companies and banks, cannabis groups can receive payments through BitCanna Pay ,an application providing instant, worldwide access to payments.
Built on the Cosmos blockchain, BitCanna transactions take an average of five seconds to process and cost less than a tenth of a cent. The network is powered by its BCNA token, which is harnessed by both users and cannabis companies to facilitate payments.
BitCanna helps the cannabis industry and users in tracking and tracing cannabis-related products with the use of blockchain technology. This is to certify transparency regarding quality and origin as well as to provide information regarding product standards.
