What is Tokes Platform (TKS) Crypto Beginner’s Guide
There are lots of legal issues that pop up regarding banking transactions within the cannabis industry. By incorporating the blockchain technology, the Tokes Platform hopes to find a lasting solution to these issues.
Although there are lots of countries where cannabis still remains illegal, there are other countries where the market is gradually gaining acceptance. The market is already legal in countries like Uruguay but there are still so many problems the industry faces.
One incident that served as the most serious threat to the industry was the rift between American banking companies and Uruguayan pharmacies. The banks claimed that the sale of cannabis by the pharmacies was a violation of the American law and would, therefore, prevent the banks from offering banking services to the pharmacies. This is one of the most significant reasons that led to the development of the Tokes platform.
This incident stopped the pharmacies from selling a product which was legal in their country to get financial support from foreign banks. Tokes was created to ensure that there is a stop to this forceful coercion.
How Does the Tokes Platform Work?
The simple objective of the platform is the provision of an option to cannabis companies to avoid dependence on the traditional banking system. By using cryptocurrencies in their services, there is more control over the sales of products by the company and they also enjoy a lower cost of operation through the reduction in transaction fees compared to the bank charges.
To make sure there is no scam on the network, in addition to the validation of transactions by the blockchain, a P2P network is also in place. Any transaction which takes place on the network is validated through the buyer and the pharmacies.
A mobile app is also in development to provide a means through which the tokens can be used in transactions between companies and users. In contrast to the use of Bitcoin, the fees which come with the use of the Tokes is cheaper and it is built specifically to cater for the cannabis market. Transactions are processed and complete within a 30 seconds period on the average while the fees are lower than a dollar.
Investing in the Tokes Platform (TKS)
This is simply by purchasing the TKS tokens. The Waves blockchain technology is the basis for the design of the tokens and the purchase requires a wallet which is compatible with the tokens. Interested buyers can then visit any cryptocurrency exchange to make their purchase.
Exchanges like WavesDEX and Bittrex offer the tokens for sale.
Our verdict on the Tokes Platform TKS
The Tokes platform has some specific situations where it becomes an excellent choice of investment. For anyone running a pharmacy and intends to go into the sale of cannabis, then this is one token to have in your wallet. Anyone looking to buy cannabis can also benefit greatly from this platform.
Entrepreneurs who are currently dealing in cannabis should not hesitate in buying into this platform. The support from the banks may seem like a great option at this time but they can withdraw their support at any time.