The Majato Project: Utilizing Blockchain to Uproot and Decentralize Cannabis
With the use of cannabis for medical purposes currently legal in 29 states in the USA (and a number of states legalizing the recreational use), as well as countries around the world voting to decriminalise the use of cannabis, the substance has gained mainstream attention and an estimated $45 billion demand price to go along with it.
Worth an estimated $6.73 billion in 2016 and the market predicted to grow to an estimated $19.96 billion by 2020, the industry is currently experiencing a 26% y-on-y increase and still growing.
The Majato Project aims to revolutionise the cannabis industry with their pre-sale of its Majato Tokens (MJT). Commencing on December 20, 2017, the project with its planned pilot operation in the state of California aims to create its own legal cannabis production with the MJT token to be the uniform payment instrument for all things cannabis.
Utilizing blockchain technology at its core, the Majato Project aims to create complete transparency at stages of production, distribution and consumption - thus creating a transparent, decentralized, blockchain based platform for all participants of the cannabis industry (independent growers, scientific and research laboratories and consumers to name a few).
The Majato Project currently has under its flag prominent international business leaders from the USA, Russia and Germany, and will be looking to add experts in the legal cannabis industry to its Advisory Board. Their core team has successful experience of participation in other blockchain and IT projects, and its members have the desired experience and know-how in the U.S. real estate and land use, retail and legal issues.
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