Tokes
Crypto Overview
Overview
Tokes (TKS) is a cryptocurrency designed to serve the legal cannabis industry by providing payment solutions and supply chain management tools. The project aims to solve banking and payment challenges faced by cannabis businesses due to federal regulations.
Purpose and Utility
The intended purpose of Tokes is to facilitate transactions within the cannabis industry and provide blockchain-based supply chain tracking. The platform includes the Merchant Gateway for payments and the EPCIS blockchain solution for supply chain management.
Business Model Analysis
The business model revolves around providing payment and tracking solutions for the cannabis industry. While blockchain technology and payment solutions are permissible in Islam, the primary focus on serving the cannabis industry raises significant concerns from a Shariah perspective, as cannabis is generally considered haram except for specific medical purposes.
Development and Adoption
The project shows limited recent development activity and adoption. The last significant updates to their platform were reported in 2021, and current usage appears minimal.
Token Distribution and Governance
Information about token distribution and governance structure is not readily available, which raises transparency concerns. The project's website provides limited details about the current state of operations.
Crypto Impact
To assign a comfort level investing in Tokes 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 Tokes.
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.