Coop Network, a recently launched cooperative initiative by people who wish to bring traditional organizations into the 4th industrial revolution of blockchain, is ready to disrupt the medical cannabis business.
A collection of different nations and states, the EU has a difficult time handling the multi-billion cannabis market. Many member countries have regularized cannabis as medical aid and try to keep it highly regulated, but for the most part anything related to its sales cycle, right from the start of production, to transportation, and consumption, remains illegal.
This has resulted in a massive underground industry where the cannabis supply chain can disappear, leaving not only a question mark on the traceability but concerns on the origin and quality of the controlled and legal material in the market. This in turn affects not only the consumers who get low-quality products, but it harms the legal businesses as the industry is still earning a bad name.
Then there is the friction within the supply chain itself. Since it is a controlled substance, there is a lot of paperwork involved with the production, transportation, and sales. The more paperwork, the slower it gets.
In the end, the industry and its stakeholders suffer as a whole.
Coop: Helping Medical Cannabis Market
Using blockchain, Coop can help traditional organizations and industries get things moving along faster because it relies on decentralization and the power of the technology.
With its own blockchain network that is aimed to be faster, cheaper, and more secure than off the shelf options, Coop Network provides a perfect solution to the cannabis industry. Each stage of the complete industry and supply chain is recorded on the blockchain for complete transparency and quick verification and tracking.
This includes inventory management, delivery schedules, official and licensed sellers, etc. This will not only break down the friction in the current cannabis industry but usher in a new era of consumer confidence since they will know that the product is of high quality and legal.
Why The Coop Network?
The Coop Network ecosystem is geared not just another chain or a crypto oriented platform that aims to give financial power through market standard DeFi or other products, but relies on its democratic inclusion of all stakeholders:
- Open Membership: There is no limit to who can become a part of the expanding Coop Network. As long as the principles are aligned, anyone can become a part of the network.
- Democratic Control: All participants and members work towards a common goal, not selfish and standalone targets.
- Economic Participation: Stakeholders contribute towards the funding and capital handling.
- Autonomy: All cooperatives within Coop are independent and controlled by their members.
- Coop Academy: a one-stop training center for young minds to get them on blockchain programming and other technologies like AR/VR, robots, and drones early on.
$GMD: Power Behind Coop Network
Using its own blockchain, the Coop Network runs using its native utility and governance coin, the $GMD. It acts as a medium of exchange, as a means of paying Gas on the network, DeFi related activities, and to secure the complete ecosystem.
One partner said about $GMD,
"We are excited to welcome the $GMD coin to our platform. We highly appreciate the Coop Network's efforts in delivering the real democratic governance model. We believe the collaboration between our projects will evolve, allowing us and our users to make the most of it."
$GMD comes with additional features such as:
- Leasing: Lend your coins and earn as much as 3% monthly interest.
- Forging: Validate transactions on the Coop blockchain and reap rewards.
- Node: Be a pillar of the network and maintain the ledger. Earn as much as 15% APY.
- Buy Back and Coin Burning: A deflationary coin, 25% of the profits of Coop will be used to buy the coins back and burn periodically.
The $GMD has had no initial sales of any kind and is available to the public through Changelly, Changelly PRO, BiBox, CoinTiger and BitMart exchanges, with another top exchange listing in progress, along with featuring on CoinGecko and CoinMarketCap in the coming weeks.