The world’s first blockchain cannabis social network. This is what the Smoke Network is calling itself and with cannabis becoming a staple part of people’s lives in the US it’s not hard to see why this is gaining steam. According to extensive research from some of the industry’s leading experts have examined that there is likely to be a 60% year over year compound growth for the legal cannabis market as a whole, from the current estimated global market size of over $7 billion to reach $31.4 billion by 2021. Smoke Network has seen the possibilities with the legalization of cannabis and have taken the first steps to take full advantage of the ever growing global legalization movement.
Along with this extensive research, Smoke Network have realized based on statistics from the UN’s World Drug Report, there are an estimated 182 million global cannabis users as well as 40 million of them living in the United States. By being able to harness just a fraction of this market, Smoke Network is aiming to develop a growing online community that is centered around cannabis culture, which benefits all participants in the network. To add validity to the concept of a cannabis centered social network, there is already a handful of them around, take 420smokers.us, which is an online cannabis brand founded by the creators of Smoke Network during a time when cryptocurrency and decentralised applications were still relatively new, with no blockchain technology that could deal with enough transactions at a great enough speed. Since the rise of this social network, the platform has amassed 500,000 cannabis users with the capabilities to interact with each other.
Smoke Network’s ICO is looking to raise enough funds to be able to create a substantial social networking platform that is built around cannabis, as well as addressing some key issues and problems for cannabis fans and smokers. One of the main issues is that there seems to be blind censorship of cannabis page on other social media platforms, or displaying content that describes cannabis as a dangerous and harmful drug which inevitably puts a strain on the cannabis business.
Smoke Network wants to give users the opportunity to get rewarded for posting high quality content. By giving users the opportunity to post stories on the blockchain, upvote or downvote pieces of content it is giving people the power to control what happens on this platform, and with incentives such as being rewarded for having their content upvoted. After their first ICO which was held in August 2017 they managed to develop an alpha version of the Smoke Network application on the Steem blockchain, which rewards users in Steem for the posts. This is exactly how users will be able to benefits from posting quality content, and as cannabis gears up to become more mainstream in the public eye, Smoke Network is looking to position itself as the go-to resources for cannabis related social media, for strain reviews, dispensary reviews, grow journals, peer-to-peer cannabis related transactions and high quality cannabis related content.
The Smoke Network is an application that is based on the unlimited potential of blockchain technology to unlock and transform the way people interact online. By building on top of already established technologies like bitcoin, steem and EOS it allows for people to create content that they can earn money and rewards from.
SMOKE ICO Details
Type: Smoke.Network is an Delegated Proof of Stake (DPoS) blockchain.
Note: SMOKE ICO is blocked to United States and Canada participants.