Startup Showcase: Rhizomatiq – Revolutionizing Cashless Cannabis Payments

Transforming Cannabis Payments and Supply Chain Transparency with DLT Utility Tokens

Rhizomatiq is a seed-to-sale supply chain service provider for the legal cannabis industry, based in Fort Collins, Colorado. With a vision to streamline the payment process for the multi-billion dollar cannabis industry, Rhizomatiq leverages Distributed Ledger Technology (DLT) Utility Token based on the DAG-Tangle architecture. This enables high efficiency, resistance to attacks, environmentally-friendly operations, and most importantly, an incredibly high throughput rate for instant transaction authorization.

Efficient Cashless Cannabis Payments

The legal cannabis industry has been thriving in recent years, but the payment process remains a major bottleneck. While debit card payment is available in some states, the existing systems operate as disguised ATMs and incur many different fees, leading to a markup of over $10-15 in most cases. Rhizomatiq aims to address this challenge by offering a cost-effective and streamlined payment solution that can be adopted by the entire cannabis industry.

A Suite of Supply Chain Track/Trace Algorithms

Built on top of the DLT is a suite of Supply Chain Track/Trace algorithms that provide transparency up the Cannabis Supply Chain for regulators, consumers, suppliers, and merchants alike. This suite is a logistics tracing mechanism that follows batches of tested cannabis products throughout the distribution process, from seed to sale. By enabling end-to-end traceability, Rhizomatiq is able to provide assurance to the industry that the products being sold are safe, tested, and of the highest quality.

Low Fees and Instant Transaction Approval

One of the major advantages of Rhizomatiq’s payment system is its efficiency. With a DAG-Tangle architecture, Rhizomatiq can offer extraordinarily low fees of 0.25% for Seed-to-Merchant (S2M) transactions and $1 for Customer-to-Merchant (C2M) transactions per transaction. Furthermore, transactions are instantly approved, enabling a seamless payment experience for customers.

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Regulatory Compliance

Rhizomatiq Tokens are Utility Tokens, and transactions are initiated as payment transfers to and from the sender’s and receiver’s payment methods, respectively. Before either a SEND or RECEIVE transaction is sent, a dense regulatory compliance process is completed, in which the Account Holder’s ability to partake in the transaction is verified. This ensures that all transactions are compliant with local regulations and industry standards.

Conclusion

Rhizomatiq’s payment system is a game-changer for the legal cannabis industry, offering a streamlined, cost-effective, and efficient payment solution that is compliant with local regulations and industry standards. By leveraging Distributed Ledger Technology, Rhizomatiq is able to provide end-to-end traceability for the entire supply chain, from seed to sale. With its innovative payment system, Rhizomatiq is poised to revolutionize the way payments are made in the legal cannabis industry.

Website: https://rhizomatiq.dev/

Twitter: https://twitter.com/rhizomatiq

Facebook: https://www.facebook.com/rhizomatiq

LinkedIn: https://www.linkedin.com/company/rhizomatiq/


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