Paragon Puts Marijuana On The Blockchain

Paragon is a blockchain-based project that pledges to transform the current state of the cannabis industry which, according to the team, is flawed. The Paragon project promises to promote the legalization of medical and recreational marijuana use, while providing cannabis-based business with the technology required to prosper under the faulty legal system that has been built around the industry. The first page in the Paragon whitepaper reads:

“The cannabis industry has traditionally been fragmented, untrustworthy, and illicit, but it is now moving towards greater legitimacy. New research shows powerful health benefits of cannabis and strong social movements are pushing for increased legalization. One way to improve the reputation of the industry is to modernize it, make it standardized, fully verifiable, and built on a system of trust between patients, doctors, growers, and suppliers. New blockchain technology / Distributed Ledger Technology(DLT) offers an ideal solution.”

The Paragon project will “arm” cannabis businesses with appropriate technology that allows them to conduct business without having to deal with cash exclusively while storing relevant historical data from vendors, distributors, farmers, doctors and consumers in a distributed ledger that is both immutable and transparent, the blockchain.

In the healthcare arena, educational tools will increase awareness of the medicinal benefits of marijuana, and Paragon has proposed many great ways to streamline patient-doctor interactions in a way that suits both sides of the relationship. The Paragon Project aims to add simplicity for consumers and for their prescribing health care providers.

Through the Paragon apps, users will be able to schedule appointments with Board Certified or properly licensed doctors with a few clicks.  Users can obtain their required medical marijuana card which will be issued to patients directly from the planned Paragon Portal.  Prescriptions will be written and signed, and totally compliant with pharmaceutical & regulatory laws where applicable.

Verifiable lab tests for patient levels of THC and other pertinent medical information are going to be retrievable for medical practitioners who are permitted to retrieve it. There are many benefits to come from having access to the historical data and Paragon promises to make it available with blockchain technology, all based on the established and known Ethereum blockchain protocol.

By putting blockchain technologies to work, Paragon will be able to easily help suppliers do their business smoothly.  Paragon will partner with dispensaries across all 20 legal states and will tidy up the cannabis related chain of commerce. In regions where the green, sparkly buds are legal, the process for acquiring it will become less cumbersome, thanks to a more efficient supply chain.  Paragon playfully confesses that what they want is to help achieve worldwide legalization of weed for the purpose of consumption.

When reading through the pages of the Paragon Whitepaper the overall plan appears realistic, the goals are clear and the estimated timeline is organized into an easy-to-follow road map detailing the various stages of development, and various expected dates of adoption and integration.

About the Initial Coin Offering (ICO) 

According to the website, the Paragon token supply is set at 200,000,000 of which 100,000,000 tokens are set to be divided amongst the first batch of investors, holders and collectors.  The ICO price will be set at $1 and the campaign itself launches on the 15th of September.