JIBBIT: Blockchain Meets Cannabis

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With Jibbit, users or companies who use cannabis-based medicine or cannabis can stay anonymous and secured. Jibbit also removes the bottlenecks in the transaction and supply chain of cannabis.

Cannabis

Cannabis, widely known as marijuana, is a psychoactive drug from the cannabis plant which is used for medical or recreational use. The major part of the cannabis plant that is psychoactive is the Tetrahydrocannabinol (THC) which is one of the 483 known compounds of the plant. According to study and experiences shared by people who used THC, it produces some side effects such as physical or mental (this may include anxiety, impaired motor skills, high or stoned feeling, euphoria, etc. One of the most common side effects of cannabis aside the high or stoned feeling is the addiction.

Addiction to cannabis is as a result of the stoned or high feeling it gives. This has made cannabis known every giving it a bad reputation. People neglect the other use of cannabis (especially medical) and do not want to be seen associating with it or its accessories. It has been found that some countries legalized the use of cannabis in the year 2018.

Cannabis market and it challenges

The reputation of cannabis in the world today has adversely affected some of the companies whose major material for manufacturing their drugs is cannabis and the health insurance. Companies that use it in their products want to stay as anonymous as possible because they do not want to be found making contact with cannabis.

People who need cannabis-based drugs (THC) also have the fear of being seen purchasing cannabis products or accessories because of the bad reputation even though it is for medicinal purposes. There is no way they can make payments without revealing what they pay for thus they cannot possibly stay anonymous.

Legally medical cannabis can be purchased from pharmacy only be the prescription from doctors. But because some people are addicted to cannabis or who wants to make profits from it by selling it illegally, they go as far as forging fake prescription to obtaining it illegally. This illegal practice includes some doctors who want to make a profit from it.

Black markets are also one of the major ways people who are addicted to cannabis get it illegally. People who sell from black markets value profits over the health of their consumers because the cannabis they sell is from unknown sources with uncontrolled growths.

Companies who offer online services show fake reviews on their websites because the present state on the internet allows companies to buy fake positive reviews for themselves thus giving them a fake reputation and misleading the buyers. It is also possible for people who have not transacted THC to make reviews.

One other problem faced by the cannabis industry is transactions. Because transactions have to be done through banks and other centralized payment options, sending payments have very high transaction costs especially when it is cross-border. Transactions also take weeks to be completed all of these delays slows down the delivery of cannabis to industries or companies who use them.

JIBBIT

Jibbit logo
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The blockchain technology has been introduced to almost all aspect of life today to ease payments but it has not been introduced into the cannabis industry. Jibbit comes into the scene leveraging the benefits of the blockchain technology to adequately solve the challenges surrounding the cannabis industry. With Jibbit, users or companies who use cannabis-based medicine or cannabis can stay anonymous and secured. The bottlenecks in the transaction and supply chain of cannabis are removed with Jibbit.

Jibbit creates an ecosystem network to connect the worldwide cannabis community with the crypto world (200m +). A world to make the cannabis market completely independent of the financial system and its influences. By making use of the Blockchain technology, we demonstrate the value of this revolutionary movement of the crypto-community and how we can make the world a little better. Be there today to help make the crypto world accessible to the masses. Give the power back to the people!
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Jibbit Network
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Jibbit also makes sure that prescriptions from doctors are stored on the blockchain where they are secured and cannot be forged. Since the blockchain technology works on a distributed ledger where files stored on it are distributed all over the world (no single or whole file is stored in a location but each file is distributed and stored in different locations), it will be impossible for prescriptions to be forged, or hacked. Through the blockchain technology, prescriptions will be only accessible to authorized parties (doctors and pharmacists).

Jibbit also allows online consultation through applications, tablet or PC. Patients can describe their symptoms openly to the doctor if they desire a cannabis-based drug the pharmacist delivery services deliver cannabis-based drugs to patient’s home directly so, the fear of been seen making contact with cannabis or its accessories are removed. And since transactions will be on-chain, the identity of the buyer stays hidden or anonymous.

Transactions on Jibbit

All transactions on the Jibbit platform are done through the JIB tokens. Jibbit does not sell THC but brings together all market players of cannabis. Since payments will be made in tokens, the transaction fee is greatly reduced and the time to complete transactions is cut from weeks to minutes. Through the blockchain technology, all transactions take lesser times and are independent of location (i.e. there is no border barrier). Payments remain transparent on the platform as buyers and seller can monitor transactions and see when transactions are completed. A short transaction time means a shortened delivery times.

Rating

Jibbit allows only buyers who confirmed transactions to make reviews thus bringing to an end the reign of fake reviews.

Jibbit Runner

Jibbit Runner
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Jibbit also allows delivery service companies to register on the platform for free thus bringing together all market players into a platform to improve the industry.

Jibbit Doc

Jibbit Doc
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Jibbit allows doctors to safely store prescriptions of cannabis-based drugs to patients on the blockchain. The patients can go to a pharmacy and use a QR code to redeem the prescription. This further makes prescriptions forgery-proof. It will help health insurance companies save a lot of money lost due to fake or falsified prescription in the past.
The prescription has the signature proof of the doctor who prescribed the drug so it is impossible for them to be involved in criminal acts since the proof signature will always point back at them.

Whenever the prescription is redeemed by the patient it is registered on the blockchain. Thus helping insurance companies to track and see where and when the prescription was redeemed (i.e. prescription history).
The redemption of cannabis can be by the application or Jibbit Card.
jibbit card
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Token Details

jibbit token details.png
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Video Explainer

For further information on JIBBIT, you can read:

Website

Whitepaper

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Telegram

Twitter

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