olivecarens: JIBBIT

CANNABIS INDUSTRY

Hemp or Cannabis is one of the oldest and most diverse plants in human history. For centuries, Cannabis played an important role economically in the supply of fiber, food and medicine. Today, the Cannabis industry is one of the fastest growing industries in the world.
In medicine, Cannabis hosts a variety of functions and plays an important role in regulating pain, stress, appetite, immune system etc.

Medical Use of Marijuana

When countries around the world liberalize their cannabis law, the global marijuana market is expected to reach $ 63.4 billion in 2024, with an annual growth rate of around 21.1%.

However, there are problems that currently affect the Cannabis industry, which the JIBBiT project wants to solve.

Some problems are: -

P1. The need for payment options with cryptocurrency for marijuana and accessories
P2. Strong growth in no. from the case of fake recipes
P3. High transaction fees from banks and other payment service providers
P4. Transfers that take too long affect shipping
P5. Do not offer anonymous transactions with banks
P6. Need to procure legal marijuana that is faster, faster, and safer

JIBBiT solution

S1. The JIBBiT ecosystem promotes and allows payments with cryptocurrency
S2. Recipe safe and tamper proof by applying solutions based on blockchain technology
S3. Very low transaction costs due to blockchain technology
S4. Transactions are significantly faster and safer
S5. Transaction execution is transparent with ledgers
S6 that can really be verified. JibbitRunner allows ordering and shipping legal recreational marijuana in a simpler and faster way

The JIBBiT project is conceptualized by a company listed as "Jibbit Gmbh" in Mittelstrasse 11-13, 40789 Monheim am Rhein, Germany.

ECOSYSTEM OF JIBBiT

The JIBBiT ecosystem uses blockchain technology to conduct transparent, anonymous and safe payment transactions for all parties involved in the ecosystem.

The JIBBiT ecosystem mainly consists of 3 core elements: -

JIBBiT Marketplace - This is the core structure of the JIBBiT ecosystem. This is a market for cannabis accessories. Patients, consumers, and farmers can use JIBBiT Markeplace to shop for marijuana accessories
JIBBiT Doc - This is a portal and interface for patients, doctors and pharmacies. The first platform solution will be available in Germany.
JIBBiT Runner - This is a delivery service for marijuana to ship THC containing marijuana products. It aims to become the next UBER for shipping based on marijuna cryptocurrency.

JIBBiT PROJECT 'SWOT ANALYSIS

POWER

Strong and experienced development team
Lead the initial market
A good and sufficient capital base
Strong knowledge of the marijuana market
A large network of contacts in the cannabis and crypto sectors

WEAKNESS

But to build a customer base

CHANCE

Global legalization of medical related marijuana products
Global legalization of cannabis products for personal consumption
Further growth in cellular and internet shopping receipts
Grow acceptance of blockchain and cryptocurrency technology

THREAT

Competitive markets with increasingly fierce competition
Regulations that might affect the crypto (cryptocurrency) industry

Overall, the SWOT Analysis for the JIBBiT project illustrates that the JIBBiT business model has more power and provides more opportunities than weaknesses and threats.

JIBBiT (JIB) TOKEN

The JIBBiT (JIB) Token will be the utility token used on the JIBBiT platform. The JIBBiT ecosystem will be held on the Ethereum Blockchain Network and JIBBiT (JIB) tokens will be ERC-20 compatible tokens.

The number of JIB tokens to be issued will be limited to 700 million tokens with 420 million tokens placed for sale during the token sale period. The price per JIB token is set at 1 JIB = US $ 0.05.

The token sale is expected to begin on June 1, 2018 and will take place on the JIBBiT portal, www.jibbit.io. The token sales will expire on the date after the project reaches the appr hard cap target. $ 18 Million or on August 31, 2018, whichever is earlier.

[Note: - There will be restrictions on the sale of tokens to US citizens, the Republic of China, HK SAR, Canada, Singapore and countries that include the United States emblem, such as Iran, North Korea, Sudan, Syria.]