CannabisCoin
Crypto Overview
Overview
CannabisCoin (CANN) was created in 2014 as a cryptocurrency specifically designed for use in the legal marijuana industry. The project aimed to provide a payment solution for cannabis dispensaries and related businesses.
Purpose and Utility
The intended purpose was to serve as a medium of exchange for cannabis-related transactions, with a planned 1:1 exchange rate where 1 CANN would equal $1 worth of cannabis products at participating dispensaries.
Current Status
As of 2024, the project appears to be largely inactive. There is minimal to no development activity on the project's repositories, and the official website is no longer operational. The token has extremely low trading volume and limited market presence.
Business Model Analysis
The core business model was centered around facilitating transactions in the cannabis industry. While the technical implementation involved legitimate cryptocurrency operations, the explicit focus on the cannabis industry raises concerns from an Islamic perspective.
Platform Development and Adoption
The project shows no signs of active development or meaningful adoption. The original partnerships with dispensaries did not materialize at scale, and the ecosystem remains dormant.
Crypto Impact
To assign a comfort level investing in CannabisCoin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to CannabisCoin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.