The legal cannabis industry is a multi-billion dollar industry that is growing at an unprecedented rate. Despite the growing demand for cannabis products, the industry still faces a number of challenges, one of which is the lack of a large scale solution for efficient cashless cannabis payments. This is where Rhizomatiq comes in. Rhizomatiq is a startup based in Fort Collins, Colorado that provides seed-to-sale supply chain services for legal cannabis using distributed ledger technology.
Revolutionizing the Cannabis Industry with DLT
Rhizomatiq is a distributed ledger technology (DLT) utility token based on the DAG-Tangle architecture. This technology allows for high efficiency, resistance to attacks, environmentally friendly operations and most importantly, an incredibly high throughput rate for instant transaction authorization. The startup has built a suite of supply chain track and trace algorithms that provide transparency up the cannabis supply chain for regulators, consumers, suppliers, and merchants.
The platform aims to streamline the cannabis distribution process by providing a base for the industry to build on. Due to the efficiency and scalability of the DAG-Tangle architecture, Rhizomatiq is able to offer extraordinarily low fees (.25% S2M / $1 C2M per Tx) and instantly approved transactions. This means that customers can enjoy a seamless, cashless payment experience while cannabis businesses can focus on providing quality products and services to their customers.
Efficient and Secure Transactions
The process of using Rhizomatiq is simple and intuitive. The platform uses SEND/RECEIVE transaction pairs to represent completed “seeds” which are stored on “nodes”, Rhizomatiq’s word for the account tangle architecture. Transactions on the node are verified using a standard random selection algorithm. 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.
Rhizomatiq tokens are utility tokens, meaning that transactions are initiated as payment transfers to and from the senders and receivers’ payment methods, respectively. The tokens themselves will never be able to be bought or sold, which means that they are used solely as a means of payment and cannot be traded as a speculative asset.
Join the Cannabis Revolution with Rhizomatiq
Rhizomatiq is poised to revolutionize the legal cannabis industry by providing efficient, secure, and transparent supply chain services. The platform is scalable and has the potential to be used by cannabis businesses of all sizes. By eliminating the need for cash payments, Rhizomatiq is making it easier and safer for customers to buy and enjoy cannabis products. The startup is committed to promoting a green economy by using environmentally friendly technologies that have a low carbon footprint.
With Rhizomatiq, the legal cannabis industry can finally have a large-scale solution for efficient cashless payments. This startup is transforming the industry by providing a secure and transparent supply chain for regulators, consumers, suppliers, and merchants. Join the cannabis revolution today by visiting the Rhizomatiq website and learning more about their innovative solution.
Ready to amplify your reach and engage with the most dynamic community in the venture world? Consider sponsoring an article with us. Learn more about our promotional opportunities and sponsored articles here.
Your story could be the next big hit on US Venture News!