Nezly launches cannabis ICO on Stellar blockchain
Nezly, a cannabis-related company based in Canada, launched its initial coin offering today on the Stellar blockchain. The Nezly token will be part of a blockchain ecosystem that will help farmers manage cannabis cultivation on more than 160 acres, according to a press release.
The company will use the ICO to launch CannaX, a marketplace exchange platform that will use blockchain cryptography to buy and sell cannabis from its network of more than 150 farmers in the U.S. and Canada.
Nezly plans to document distribution and sales on its blockchain as part of an effort to bring transparency, trust and market insight to the cannabis industry. The company believes that blockchain offers a more secure solution for the cash-intensive cannabis industry, according to the release.