The legal cannabis industry is one of the fastest growing markets on earth. In North America alone, the industry is forecast to top USD $20 billion by 2021, from US$6.7 billion in 2016, and create more than a quarter of a million jobs! Currently, 37 US states plus Washington, DC have passed medical or recreational cannabis laws, and Canada is projected to legalize recreational cannabis by July 2018.
“The cannabis industry has enormous challenges with data consistency. It lacks product pictures and descriptions, standard nomenclature, and central inventory catalogs. Packaging varies widely: cannabis can be delivered loose (bulk), in plastic sealed packaging, or in jars or other packages. As the products tend to be volatile in their availability, the product variants, their packaging, and accurate representations of the actual bud being ordered are currently ignored by the supply chain at the detriment of consumers.” – duber Partners
It was just a matter of time before the blockchain disrupted the Cannabis industry. Cryptocurrencies and loyalty-based reward tokens seem destined for a place in Cannabis culture like jam was destined for peanut butter. Crypto is cool, gamification is cool, and, of course, weed is SUPER cool.
Beyond the “cool” factor, though, ERC20 Tokens serve the purpose of integrating all verticals of the Cannabis industry via guaranteed trust and open data. Producers, businesses, and customers can all speak the same language via Ethereum’s blockchain.
The düber (DBR) token: an efficient measurement and incentive system rewarding consumers and helping small & medium-sized cannabis businesses succeed
A bit about duber:
- duber was founded in 2016.
- “We are a team of 25 with 16 full-time developers.”
- “Our mission is to help small and medium size businesses compete with large corporations through superior technology, while helping them to stay compliant.”
- “We currently provide customers with online ordering, self-serve systems, global product search, digital signage and advertising products and are launching several more including retail point of sale and a home delivery engine for retailers.”
- “We operate in state jurisdictions that have legalized both medical and recreational cannabis, and assist with compliance of the laws of these states.”
- “This is what our industry needs, and we can’t wait to see what else düber has in-store for us.” -Justin Wildhader, CEO, Green Freedom, Elma, USA
- “Customers love the convenience of browsing online, and our staff loves the convenience of preparing the order at a quiet moment.” -Nick Antonie, Owner, Herban Legends, Seattle, USA
- düber is the only provider whose applications are truly integrated.
- Only düber offers Omnichannel loyalty programs, fully integrated with your online ordering, instore POS, mass messaging, promotions and more.
- duber is an established business with significant financial backing, multiple launched products, and happy customers.
Challenges for the Cannabis industry which the duberCoin plans on resolving:
- Challenges for retailers:
- Overburdened and complex delivery system.
- Fragmented supply chains.
- Inability to offer integrated home delivery.
- Inaccurate date resulting in lost sales.
- Tax regime resulting in 70%+ taxation levels.
- Challenged for producers and processors:
- Forecasting demand and planning production.
- Unique crop data with each harvest.
- Non-standardized nomenclature, no central inventory catalog.
- Challenges for regulators and law enforcement:
- State regulators lack the tools and logistics support to service legitimately licensed producers, processors, labs, and retailers.
- With product moving through a complex point-to-point distribution network, and more than 1,400 locations for potential enforcement in Washington state alone, regulators simply lack the resources to monitor all points effectively.
- The situation will only get worse: regulators in California expect to issue more than 15,000 licenses to industry participants for 2018.
- Law enforcement is almost completely without tools to protect licensed legitimate businesses and consumers.
- Much of the infrastructure for tracking crime is managed federally, so states that have legalized cannabis cannot use the standard law enforcement tools.
- Payment challenges:
- Settlement in cash.
- Credit cards are not the solution – many customers lack bank accounts and credit cards.
DBR is an Ethereum-based ERC-20 token.
- “We chose Ethereum as the base blockchain technology for DBR tokens due to its powerful built-in scripting language that lets us build complex smart contracts for DBR tokens relatively easily. Ethereum has already proven itself to be a capable and well-documented blockchain at the heart of many successful ecosystems.”
- The düber Platform: Off-Chain Processing with Results Published On-Chain
- The Raiden Network is a form of off-chain transaction settlement. “We will develop and utilize a similar off-chain ledger to expedite transactions and reduce fees.”
- All transactions and data handled off-chain will be signed digitally by all involved parties, with the ultimate result stored and verifiable on the Ethereum blockchain.
- In this way, the düber network will be a fast, reliable, and secure solution that can safely handle near-instantaneous transaction speeds, while still recording the end results on the Ethereum network in a verifiable way.
- Blockchain is a Cannabis IMPERATIVE!
- Blockchain provides a secure and traceable form of payment.
- Blockchain is a superior verification technology:
- Traceability, from manufacture to purchase and delivery.
- Immutable records of lab results.
- Verification of consumer reviews.
- Growing economic surplus for all network participants by providing proper incentives to those who create and distribute new information is a significant opportunity.
- “Blockchain technology and a token are ideally suited to acknowledge and measure the growth in economic surplus, as well as allocate this increase fairly across the network.”
- This equitable distribution supports local suppliers and retailers in the network, as well as the consumers who frequent them.
- It fosters competition and growth and prevents domination from large players external to the network.
- DBR Tokens will be Less Expensive to Accept than Cash or Credit Cards.
- The instant and sustained demand for DBRs is in the interest of all network participants.
- The DBR token will acknowledge, measure, and allocate growth in economic surplus across the value chain fairly and instantly.
The duberCoin reward system:
- Order online from your phone, tablet or computer. DBR tokens will be accepted as form of payment presenting an attractive and more secure alternative to cash.
- Self-serve browsing and ordering from in-store tablets so you can skip the line! DBR tokens automatically credit to your customer account with pickup at the counter.
- Paying with DBR tokens in store at the Point of Sale eliminates the need to carry cash, protects your privacy, and earns you instant DBRs!
- “See something you like on our eye-popping advertisements or menus? Take action with your duber app and receive DBRs for ‘closing the loop’. “
- Use duberex.com to search live inventory, find stores and products near you, and order for home delivery. Earn DBRs for ordering from retailers in the duber network and let duber licensed drivers speed it to your door.
- Information exchange creates value for network participants: Crop-growing data, lab results, supplying product photos and descriptions, submitting reviews, referring brands, making repeat purchases (loyalty), and acting upon advertising benefits all network participants (Growers, Processors, Labs, Retailers and Consumers).
- Value creation deserves to be incentivized: Any network participant who creates valuable information for the network is rewarded. This incentivizes participants to contribute additional information.
- With the duberCoin token system, consumers (or any network participant) will earn düber tokens (DBRs) for:
- Providing detailed product information.
- Curating based on completeness, correctness, and quality.
- Providing photos or descriptions for products missing this information.
- Voting on the metadata for consumer-provided photos and descriptions
- Consumers can also earn DBRs by writing product reviews.
- Community participants who upvote a review receive a proportionate number of tokens for their effort
- “Our DBR token rewards value creation fairly and instantly.”
The duber ICO token sale:
- The düber ICO will use a SAFT (Simple Agreement for Future Tokens) structure which has been developed by multiple legal teams to ensure a legally compliant investment structure.
- “We have chosen the SAFT structure to provide contributors confidence that the DBR offering is compliant with the highest level of regulatory requirements for ICOs.”
- The DBR token pre-sale has three phases and is followed by the DBR token Crowdsale.
- The start and end time for each phase are:
- Pre-Sale Phase 1
- Starts: October 11, 2017 at 08:01 PDT / 11:01 EDT / 15:01 UTC / 23:01 Beijing Time
- Ends: October 16, 2017 at 16:59 PDT / 19:59 EDT / 23:59 UTC / 07:59 (Oct 17) Beijing Time
- Pre-Sale Phase 2
- Starts: October 17, 2017 at 08:01 PDT / 11:01 EDT / 15:01 UTC / 23:01 Beijing Time
- Ends: October 23, 2017 at 16:59 PDT / 19:59 EDT / 23:59 UTC / 07:59 (Oct 24) Beijing Time
- Pre-Sale Phase 3
- Starts: October 24, 2017 at 08:01 PDT / 11:01 EDT / 15:01 UTC / 23:01 Beijing Time
- Ends: October 30, 2017 at 16:59 PDT / 19:59 EDT / 23:59 UTC / 07:59 (Oct 31) Beijing Time
- Starts: November 1, 2017 at 08:01 PDT / 11:01 EDT / 15:01 UTC / 23:01 Beijing Time
- Ends: December 1, 2017 at 16:59 PST / 19:59 EST / 23:59 UTC / 07:59 (Dec 2) Beijing Time
- Pre-Sale Phase 1
- The following wallets are compatible with Ethereum tokens (ERC20 standard) and may be used to purchase DBR:
- “Our modelling shows a need for 350,000 ETH to fund the creation and sustained growth of the global network.”
- Bonus DBRs are available during the three pre-sale phases.
- Pre-Sale Phase 1 (October 11 to 16): 3,900 DBR per ETH contributed (3,000 DBR plus 30% bonus)
- Pre-Sale Phase 2 (October 17 to 23): 3,600 DBR per ETH contributed (3,000 DBR plus 20% bonus)
- Pre-Sale Phase 3 (October 24 to 30): 3,300 DBR per ETH contributed (3,000 DBR plus 10% bonus)
- The duberCoin ICO provides many opportunities for “bounty hunters”:
- Bounty program started on October 5, 2017 and will end on December 1, 2017.
- duber Partners have put aside 66,780,000 DBR tokens to distribute as part of the bounty program.
- “We are splitting our main pool of 66,780,000 DBR tokens into smaller pools based on the type of bounty”. The breakdown is as follows:
- Twitter — 30% or 20,034,000 DBRs
- Facebook — 20% or 13,356,000 DBRs
- Blogs — 20% or 13,356,000 DBRs
- Professional Articles — 20% or 13,356,000 DBRs
- BitcoinTalk Signature Campaign — 10% or 6,678,000 DBRs
“düber is uniquely positioned to stimulate the growth of economic surplus. We are an established business with multiple products launched. Our technology is already integrated into our partners’ supply chains at the inventory level, which enables us to get immediate traction, and our offering targets a high-growth, emerging industry with ideal characteristics for a blockchain platform. With its strong technical foundation and comprehensive incentives, we expect DBRs to become the preferred method of payment by all participants (growers, processors, labs, distributors, retailers, and consumers) in the legalized cannabis market.”
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