Despite the recent upsurge in excitement for the cannabis business, new companies encounter several challenges when it comes to launching.

Banks and other payment providers are similarly hesitant to provide financial services to cannabis enterprises, much like crypto firms. They would be prevented from obtaining financial services or forced to pay exorbitant costs for them.

BitCanna, a blockchain and cryptocurrency firm based in Canada, offers cashless payment alternatives through its use of distributed ledger technology.

Alternative sources of financing for cannabis businesses

BitCanna also provides companies with the opportunity to tap into financial services via blockchain, as described. BitCanna Pay is an app that allows cannabis businesses to receive payments instantly and worldwide using Bitcoin.

BitCanna offers a seamless, low-cost cannabis payment processing system based on the Cosmos blockchain (ATOM). BitCanna transactions take around five seconds to execute and cost less than a tenth of a cent. BCNA is the network’s utility token, which is used by both individuals and businesses to make payments.

BitCanna uses blockchain technology to help the cannabis industry and consumers track and trace cannabis-related items, which is not only beneficial but also necessary. As a result of this, it ensures transparency in terms of quality and origins so that customers may have knowledge on product standards.

A community powered by NFTs

BitCanna will begin selling its products with the launch of a nonfubgible token collection called Buddheads. The mission of the Buddheads is to assist new users get acclimated to the BitCanna community.

There will be 8,420 Buddheads in total, and if they fulfill certain conditions, many of them will be airdropped to both the Stargaze community’s Bitcanna members.

Stargaze is a Cosmos blockchain-based layer 1 NFT platform. Stargaze will allow users who did not receive an airdrop to purchase them on their marketplace.

The distribution of profits from the NFT sale will be as follows: 50 percent will go to the project’s token, BCNA, and airdropped to Buddhead owners. The rest will be split between the BitCanna team and chain development and features.

BitCanna believes that Buddheads will allow novices to get started with blockchain technology. The firm views its NFTs as a micro-social network since they will be a part of the larger BitCanna ecosystem.

BitCanna has a wide distribution network that includes several partners and sister businesses. These organizations include Zamnesia, Royal Queen Seeds, Cibdol, and Kannabia, to name a few.

The BCNA token has been paired with ATOM and OSMO tokens on Osmosis DEX in recent months, after being listed on the Osmosis DEX. The BitCanna squad will use the next year developing its Buddheads NFT series and expanding its payment system to a worldwide market.