CannaDAO Is Setting-up A Blockchain-based Platform For The Industry

CannaDAO Is Setting-up A Blockchain-based Platform For The Industry
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CannaDAO has recently announced the launch of its Decentralized platform for the Cannabis Industry. This member-governed platform is the first of its kind, focusing on decentralizing the operations of the Trillion Dollar Industry. CannaDAO has stated that it’s working on tokenizing the Cannabis business through its Decentralized platform. However, Cannabis, a psychoactive drug is known by the name Marijuana, has made remarkable legalized progress in recent years. Most of the world’s nations have considered the drug illegal and prohibited its use even for medical benefits. 

The Company has stated that Aurora cross-chain bridge, which operates on the Decentralized Application (dApp) Platform, NEAR Protocol, will power DAO, which is short for Decentralized Autonomous Organization. The DAO will be launched on the 20th of April, providing a platform for users to engage in the actual operations in the Cannabis business and a chance to obtain rewards.

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The Decentralized Autonomous Organization (DAO), also called Decentralized Autonomous Corporation (DAC), is an established entity constituting computerized encoded rules and regulations governed by the members of the corporation and not by a Centralized Governing body.

The Governance Token, $CANNA, which allows CannaDAO’s members to take part in the decentralized project governance model, will be made accessible on “Ref Finance” along with DAO. According to the Company, through $CANNA, members can put forward their suggestions on new opportunities for growing Cannabis. They will have the right to vote on any of the proposals brought forth and provide consent for issuing capital.

CannaDAO Contributor, Eric Benz, stated that the struggles undertaken for Cannabis Legalization, which have been fought for a long time, have yielded substantial victories and increased permissiveness in many parts across the globe. However, most of the world’s nations are still unwilling to consider Cannabis legal, shutting themselves out from the various advantages the industry possesses.

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Eric Benz proclaimed that CannaDAO would reduce or even eliminate the barriers for many people who wish to enter the Cannabis Industry and be part of the flourishing business. 

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