Bitpanda im Test

Bitpanda Besonderheiten

Bitpanda aus Österreich ist ein innovativer Anbieter für den Direktkauf Kryptowährungen

Vorteile

  • sehr übersichtlich, leicht verständlich, modernes Design
  • deutschsprachiger Anbieter (Support, Zahlungsmethoden)
  • leichte Verifizierung
  • Sofortzahlungen möglich

Nachteile

  • Gebühren nicht sonderlich transparent
  • Im Test: keine Informationen zur Einlagensicherung verfügbar

Von Bitpanda unterstützte Kryptowährungen

und 7 weitere.

Bei Bitpanda kaufen. So geht's

  • ein Konto auf Bitpanda eröffnen
  • Konto verifizieren (über Webcam mit Ausweis und Handynummer)
  • Geld auf 'Euro-Wallet' bei Bitpanda einzahlen
  • auf 'Handeln' klicken und gewünschten Coin auswählen
  • Betrag wählen und mit Euro-Wallet kaufen

Gebühren

Die Gebühren sind bei Bitpanda im Kaufpreis enthalten und werden nicht extra ausgewiesen, entsprechen aber 1,49 % (Verkauf 1,29 %). Hinzu kommen Gebühren für alternative Zahlungsmethoden. SEPA-Überweisungen sind kostenlos. Bei Kreditkartennutzung fallen 1,5 %, bei SOFORT und GiroPay 2 % an.

Zahlungsmethoden

Sprachen

Bitpanda – Fazit

Der österreichische Anbieter Bitpanda entwickelt sich für europäische Kunden die Kryptowährungen möglichst einfach kaufen und verkaufen wollen mehr und mehr zu einer hervorragenden Coinbase-Alternative. In unserem Test belegte Bitpanda den ?. Platz (Test noch nicht abgeschlossen) unter den Anbietern, die den Kauf von Kryptowährungen direkt mit Euro ermöglichen. Neben dem, auch für Anfänger sehr einfachen Registrierungs- und Kaufprozess, punktete Bitpanda vor allem mit dem hervorragenden deutschen Support. Auch die Konditionen (Kaufpreise und Gebühren) sind im Vergleich besser als bei anderen Anbietern. Weiterhin positiv: Die Auswahl der Coins scheint sehr durchdacht  zu sein.

Informationen zur Nutzung

Bitpanda ist ein Anbieter mit sogenanntem “Hosted Wallet”. Das bedeutet, dass dort erworbene Kryptowährungen zunächst von Bitpanda verwaltet werden. Damit wird der Einstieg für Anfänger sehr leicht, Überlegungen zur sicheren Verwahrung der Kryptowährungen fallen zunächst weg. Der Nachteil ist allerdings, dass die Neu-Nutzer den Sicherheitsvorkehrungen (siehe Sicherheit) von Bitpanda vertrauen müssen. Das widerspricht eigentlich dem Grundgedanken von Kryptowährungen (“Be your own bank”). Selbstverständlich lässt sich Bitpanda auch nur für den Kauf und Verkauf verwenden. Zur längerfristigen Aufbewahrung empfiehlt sich ohnehin ein eigenes Wallet. Bei Bitpanda gibt es für jede Währung ein separates online Wallet. Sowohl für Euro, Schweizer Franken, US Dollar und britische Pfund, als auch für alle Kryptowährungen. Möchte man Kryptowährungen kaufen, befüllt man zunächst sein “Fiat-Wallet” (zum Beispiel Euro mittels SEPA-Überweisung). Das darauf eingezahlte Guthaben wird dann für den Kauf von Kryptowährungen verbraucht. Abhebungen sind ebenso einfach und werden schnell durchgeführt.

95%

Bitpanda im Test: Nutzerfreundlichkeit

Nutzerfreundlichkeit der Webseite Im Frühjahr 2018 fand ein komplettes Redesign der Webseite statt. Herausgekommen ist eine sehr benutzerfreundliche Oberfläche, die den Handel von Kryptowährungen so einfach wie möglich macht. Damit ist sie auch und gerade für Anfänger gut geeignet. Eine gesonderte App gibt es inzwischen auch für Android. Allerdings fühlt sich auch die Webseite auf dem Handy quasi wie eine App an. Insgesamt erreichte Bitpanda für die Nutzerfreundlichkeit in unserem Test die volle Punktzahl.
Anzahl der Kryptowährungen Mit den aktuell  verfügbaren Kryptowährungen (siehe oben) ist Bitpanda ganz vorne bei den von uns getesteten Anbietern dabei.  Laufend kommen neue hinzu (vor allem ERC-20 Token auf Ethereum Basis). Erwähnenswert sei hier noch, dass Bitpanda neue Kryptowährungen teilweise zunächst nur zum Kauf und Verkauf anbietet und erst später die Funktionalität zum Versenden auf das eigene Wallet hinzufügt. Eine Übersicht der aktuell gelisteten Währungen stellt Bitpanda hier zur Verfügung. Positiv hervorzuheben ist nicht nur die Anzahl, sondern auch die qualitative Auswahl der Coins: Vor allem Kryptowährungen mit hohem Ansehen in der Community und vermeintlich guten Entwicklerteams werden berücksichtigt.
Bezahlmethoden Auch in dieser Sparte erzielte Bitpanda in unserem Test die volle Punktzahl. Bis auf Paypal, das so gut wie kein Anbieter aufweist, sind alle in Deutschland gängigen Zahlungsmethoden vertreten. Die SEPA-Überweisung nimmt zwei Werktage in Anspruch. Im Gegensatz dazu können die Währungen nach der Verifizierung des Kontos mit allen anderen Zahlungsmöglichkeiten sofort gekauft werden. Ein österreichisches “Schmankerl” gibt es obendrauf: Wer im Land ist, kann Kryptowährungen in allen Postfilialen direkt mit Bargeld erwerben. Die Gutschrift der Coins erfolgt auf das Bitpanda-Konto.

Registrierung und Verifizierung Wie alle seriösen Anbieter verifiziert auch Bitpanda mit Adresse und Ausweis des Nutzers, um gesetzlichen Anforderungen zu entsprechen. Erst danach sind alle Funktionen auf der Plattform freigeschaltet. Anstatt wie früher zur nächsten Postfiliale für ein “PostIdent” zu laufen, lässt sich das inzwischen bequem vom Sofa aus machen. Dazu gibt man im ersten Schritt die persönlichen Daten ein (Adresse, Telefonnummer, etc.). Anschließend wird der Nutzer per Webcam oder Smartphone Kamera mit dem Mitarbeiter eines externen Anbieters verbunden, der die Verifizierung durchführt. Dieser stellt ein paar Fragen und macht Fotos vom Ausweis. Der ganze Prozess dauert keine 5 Minuten. Top!
Sonstige Funktionen: Portfolioübersicht. Preisalarm für einzelne Coins. Eine weitere hilfreiche Funktion ist es, dass man auf Bitpanda einen Sparplan einrichten kann, der in regelmäßigen Abständen automatisch Kryptowährungen kauft.

77%

Bitpanda: Gebühren und Konditionen

Gebühren für Kauf und Verkauf Bitpanda weist die Gebühren für den Kauf und Verkauf von Kryptowährungen nicht explizit aus. Gezeigt wird lediglich der Gesamtpreis für die Transaktionen. Nach einiger Recherche fanden wir heraus, dass Bitpanda beim Kauf 1,49 % und beim Verkauf 1,29 % auf den Marktpreis aufschlägt. Wie dieser Marktpreis bei Bitpanda zustandekommt, liegt allerdings ebenfalls im Ermessen des Anbieters. Insofern ist die Entscheidung, die Gebühren nicht extra auszuweisen, sogar nachvollziehbar. Aus Kundensicht wirkt das nichtsdestotrotz etwas intransparent.
Kurs im Vergleich zu Marktpreisen In unserem Test lagen die bei Bitpanda angezeigten Kurse im Vergleich zu anderen Anbieter im besten Drittel.
Gebühren für Auszahlungen Bitpanda hat sehr niedrige Auszahlungsgebühren, die sich ab und zu anzupassen scheinen und von Kryptowährung zu Kryptowährungen verschieden sind. Eine Übersicht dazu findet man hier. Bitpanda nimmt allerdings bei Gutschriften von unter 250 Euro eine Einzahlungsgebühr
Gebühren für alternative Zahlungsmethoden Die normale SEPA-Überweisung ist kostenlos. Wählt man, beispielsweise aus Gründen der Dringlichkeit, eine andere Einzahlmethode, fallen zusätzlich Gebühren der Zahlungsdienstleister an. Im Vergleich zu anderen Anbietern sind diese Gebühren aber gering. So kostet die Bezahlung mit Kreditkarte 1,5 % extra, für SOFORT-Überweisung und GiroPay fallen 2 % weitere Kosten an.

75%

Bitpanda im Test: Vertrauen

Einlagensicherung / Versicherung der Funds Hierzu haben wir keine Informationen von Bitpanda erhalten. Der Punkt erhielt daher eine neutrale Bewertung.
regulatorische Klarheit Hierzu haben wir keine Informationen von Bitpanda erhalten. Der Punkt erhielt daher eine neutrale Bewertung.
Wie lange am Markt? Bitpanda ist schon verhältnismäßig lange in der Branche und eine bekannte Firma. Der Anbieter trat zuvor unter dem Namen Coinimal auf. Hervorzuheben ist hier, dass Bitpanda von Außen betrachtet immer sehr nah am technologischen Geschehen in der Blockchain- und Kryptowelt zu sein schien. So waren sie zum Beispiel einer der ersten Anbieter, der nach dem Fork von Bitcoin auch Bitcoin Cash angeboten hat. Auch die Einbindung von technischen Optimierungen (Segwit Unterstützung, Transaktionsbatching) haben sie relativ schnell umgesetzt.
bekannte Hackerattacken? Hierzu ist uns nichts bekannt.
Bug Bounties, Audits Hierzu haben wir keine Informationen von Bitpanda erhalten. Der Punkt erhielt daher eine neutrale Bewertung. Sicherheitsvorkehrungen (Login-Schutz) Wie inzwischen bei allen ernst zu nehmenden Anbietern wird bei Bitpanda die Verwendung von 2-Faktor-Authentifizierung(2FA) zum zusätzlichen Schutz vor unerlaubtem Zugriff auf das Konto verwendet und auch dem Nutzer nahegelegt. Hinzu kommen eine Browser Verifizierung bei neuen Geräten und die zusätzliche Bestätigung von Abhebungen per E-Mail.

84%

Bitpanda im Test: Hilfe & Support

Aus deutscher Sicht ist der Support bei Bitpanda in unserem Test der klare Testsieger. Als österreichischer Anbieter ist sowohl der Online-Hilfebereich als auch der E-Mail-Support auf Deutsch verfügbar. Zwar gibt es wie bei fast allen getesteten Anbietern keine Hilfe per Telefon, der Support per E-Mail an support@bitpanda.com funktioniert aber bestens. Unter der Woche hatten wir die Antwort auf unsere Anfrage immer innerhalb von einer Stunde im Postfach. Eine Anfrage, die wir samstags abgeschickt hatten, wurde bis Montag Mittag beantwortet. Völlig OK.
Weiterhin erwähnenswert ist, dass auch Social Media als Kundenkanal wahrgenommen wird. Der @bitpanda Twitter-Account reagiert regelmäßig auf Kundenanfragen, entweder direkt oder mit Hinweis auf den Online-Support.

Diese Erfahrungen haben andere mit Bitpanda gemacht

Uenkm bnmrlnzu

5,0 rating
10. Dezember 2019

Hi, I am the lead developer at Creative Bear Tech and I would like to contribute an article I have written to your blog blockchaincenter.net. I would be grateful if you could mention me in the bio section and add a link to https://creativebeartech.com
Thank you!
Here is the article:
Can Blockchain Technology Really Solve The Problems Faced By The Cannabis Industry?
For sure, anything related to technology may seem too complex for the ordinary person. Despite having a somewhat complex name, blockchain technology is quite easy to understand. I’m just an ordinary person like you and me, yet I was able to perform research on blockchain technology, and let me tell you, it’s quite impressive.
If you have been following cryptocurrency over the last few years, you may have already come across the term “blockchain.” If you’re not a tech expert like me, then you would have relied on Google for the definition of blockchain. Moreover, Google may have given you an answer like this: “Blockchain is a decentralized, distributed, public ledger.”
It sounds a lot harder to understand according to this definition. Basically, blockchain is the technology typically used by Bitcoin, which is a type of digital currency, in keeping track of its records.
It’s quite understandable why a few industries have misunderstood blockchain technology, considering that it is a fairly new niche in a speculative market with a somewhat foggy set of laws. On another note, cannabis also exists in a speculative market with an unclear set of regulations.
Nevertheless, both industries are receiving an influx of talented programmers and entrepreneurs looking to present a solution that will resolve their respective industry’s biggest worries. With that in mind, I wanted to come here and present to you ways on how the blockchain technology can actually assist in transforming the cannabis industry.
The Cannabis Industry is Booming
Truly, the times are changing as 30 states have legalized the use of marijuana. Nine of the 30 states legalized the use of recreational marijuana, while the other 21 states have legalized medical marijuana. It is without a doubt that the cannabis industry is booming as a total sales $6.7 billion was reported by 2017.
This number is expected to rise with a projected sales of $20.2 billion by the year 2021, which is quite an amazing figure. In fact, experts are saying that the growth rate of the cannabis industry outpaces that of which was set by the tech firms during the dot-com bubble.
I find that unlike the other industries, the cannabis industry tends to be subjected to careful examination from the public. It receives more scrutiny as compared to others. As a result, this heightens the level of uncertainty in the cannabis marketplace.
While cannabis enthusiasts are indifferent toward the idea of additional safety measures and regulations surrounding product provenance, this is an industry that would need all the help it can get. Regulators, businesses, and entrepreneurs should consider how blockchain technology could be the answer to the challenges faced by the cannabis industry.
Blockchain Technology as the “New Internet”
Before I start discussing the reasons as to why numerous cannabis firms are utilizing their own blockchain technology, it is only right that I talk a little more about what blockchain technology is and what it can do.
A lot of people have been commenting on how blockchain is an “ingenious invention.” In fact, publicly traded companies, such as IBM, are now utilizing blockchain technology as a means to solve numerous issues.
As its name suggests, blockchain is a chain of blocks. Blocks refer to digital information, which is then stored in a chain, also known as a public database.
With that in mind, these blocks, which are digital pieces of data, have three parts:
It stores the details concerning a transaction, which would involve the time, date, and dollar amount of the most recent purchase.
It also stores the information concerning those participating in the transaction. However, instead of using a name, blockchain technology reads data through unique digital signatures.
Lastly, blocks store data that makes each block unique. A code, which is referred to by many as a “hash,” is assigned to a block which will represent a particular transaction. The code of your previous purchase may look identical to your recent purchase; however, the blocks can easily tell each transaction apart by using the codes.
When a block stores new information, that information is added to the blockchain. However, before a blockchain is formed, there are four things that must first happen:
A transaction must first occur
The transaction must be verified
The transaction details must be stored in a block
The block must be provided with a hash
Why Cannabis Companies Are Embracing Blockchain Technology
Similar to most supply chains, the cannabis industry can greatly benefit from the blockchain technology. The enhanced provenance that blockchains can provide brings about the peace of mind in both suppliers and customers.
By utilizing blockchain technology, it would be easy to identify how marijuana was grown and by whom, who were the parties involved in every cannabis transaction, and that no link along the cannabis supply chain was involved in any illegal elements.
Without further adieu, here are some of the reasons why cannabis companies are embracing blockchain technology.
Processing of Payments
The processing of payments is probably one of the struggles of the cannabis industry. Despite having the majority of the states in the US legalized either recreational or medical marijuana, the federal law still poses a number of restrictions as to how payment is accepted and stored by cannabis-based firms. Moreover, 300 out of 11,000 banks, in the United States of America allow cannabis business owners to open an account.
Since cryptocurrencies and other digital currencies are unregulated and decentralized, this provides cannabis business owners the ability to accept secure and fast payments that are cashless. Since cannabis-based businesses are cash-only businesses, blockchain technology can greatly aid in the accounting processes of the business.
With blockchain technology, owners of cannabis companies no longer have to sift through an infinite amount of financial statements. Blockchain technology will not only change how payments are accepted by the cannabis industry but also the entire operation of global commerce.
Quality Assurance
The production process of cannabis may touch on numerous businesses – from the farmers and growers to the authorized dispensaries, and from cannabis retailers to consumers. Nevertheless, the utilization of blockchain technology in the supply chain of cannabis businesses provides a complete picture of its end-to-end process; thus, ensuring quality assurance.
Maintenance
Stemming from the previous point, blockchain technology also allows the consumers, regulators, and business owners of cannabis products to pinpoint the inefficiencies in the cannabis end-to-end process. Remember, a supply chain that is supported by the blockchain’s flawless math has the potential to produce an improved overall customer experience.
Standard of Transparency
Paragon CEO Jessica Versteeg shares with Rolling Stone on how her cannabis startup is utilizing its very own cryptocurrency based on blockchain technology. For VerSteeg, it’s all about transparency in the cannabis space, considering the fact that this industry is facing unclear regulations across borders.
The ledger used by the blockchain technology can either reduce or eliminate any trace of human-based complication because it is unchanging. Financial institutions and government agencies that are performing audits on cannabis-related transactions can utilize blockchain technology as a means to keep track of its legality.
Limiting Over-Consumption
There are still unclear parameters governing the use, sale, and purchase of cannabis in states that have legalized its production and consumption. While there isn’t much difference between the legality of marijuana among the various states, the laws governing cannabis production and consumption are still too difficult to enforce.
This difficulty can actually lead to potential criminal networks. What’s worse is that tracing and identifying who is abiding by the regulations and who is going against it has become much more challenging.
Needless to say, heavy-handed tactics are prohibited in the context of the legalization of cannabis, and a simple introduction of blockchain technology to monitor and track personal sales would represent a fair middle ground between the current lack of command and more unhandy strategies.
There are two companies that use blockchain technology to solve this kind of issue. With IBM’s proposed solutions, there is an increased transparency on the legality of cannabis sales. In addition, BlockMedx is working on various ways in which blockchain can assist in combatting opioid abuse.
Facilitating Taxation
No matter where you buy it or how much you paid for it, you are always going to face a heavy tax when purchasing marijuana products; this was a huge part of the legalization pitch, after all. In fact, California reported over $2.7 billion wroth of cannabis derived tax.
If one is to utilize blockchain ledger technology and that this would be mandated for dispensaries, there is a high chance that sales figures would become certain and stable. By extension, it would lead to accurate taxation and simpler audits for all of the parties involved. The best part is that the revenues from cannabis-related transactions are given back in larger amounts to the citizens of the states who have chosen to legalize marijuana.
Again, IBM as one of the companies who proposed to the Canadian Government a particular blockchain solution for ensuring the effective and accurate tracking of cannabis so much so that it would lead to easier taxation.
Nevertheless, the act of utilizing blockchain technology can also present a number of disadvantages and risks for the cannabis industry. In fact, a company by the name of Deloitte mentioned how blockchain risks are classified into three categories, which are as follows:
Standard Risks
Blockchain technology will open cannabis-based companies to various risks that are associated and are actually quite similar to that of the current business processes. This can be considered as a nuance for those who need to account for their transactions.
Value Transfer Risks
Blockchain technology allows the peer-to-peer transfer of value without any need for a primary intermediary. The value involved in this particular transfer could either be a piece of information, identity, or even assets.
With that in mind, this new technological business model exposes the transactions and any interaction made between two parties. As a result, it opens them to new risks that central intermediaries used to manage.
Smart Contract Risks
When it comes to smart contract risks, these have the potential to encode complex financial, legal, and business arrangements on the blockchain system. Furthermore, it could also result in a higher level of risk associated with the act of mapping these transactions from the physical to the digital structure.
Final Thoughts on CBD and Cryptocurrency intersection
It is without a doubt that blockchain technology has the ability to transform any business process. It can do so by disintermediating the business’ processes and central entities, improving any of its efficiencies, and allowing the creation of an immutable audit on transactions.
According to what has been explained about blockchain technology, and what has been shared regarding the current state of the cannabis industry in the United States of America, it is clear that this industry can benefit from using this developing technology as a means to track and monitor its end-to-end process without ever neglecting marijuana laws.
With that in mind, here are my final thoughts on the utilization of blockchain technology by businesses in the cannabis industry:
One thing is for sure, blockchain technology brings about an impact in various industries only because companies are choosing to embrace its system. Basically, blockchain technology can assist in the seed-to-sale monitoring and tracking of the cannabis industry.
The states that have legalized the use of either recreational or medical marijuana make use of scanning and tracking procedures so that they can monitor the journey of every cannabis product until it reaches the end-user. Nevertheless, the full farm-to-table life cycle is quite difficult to track.
This is where the blockchain technology comes in. It can easily fix this particular issue that the cannabis industry is facing. With the used of codes and labels that blockchains bring to the table, all of the information concerning cannabis-related transactions can easily be traced, stored, archived, and searched.
More and more companies are now turning to blockchain technology for a more decentralized, secured, and transparent data ledger. With that in mind, I can vouch for having at least a blockchain developer be part of your team.
By welcoming blockchain into your business, much like what cannabis companies are doing now, you are allowing easy verification without having the need to be dependent on third-parties.

Dennis Rubeo

Klasse

5,0 rating
9. Dezember 2019

Ich bin sehr zufrieden mit Bitpanda. Alles in Ordnung.

Taoufik Labidi

Updrm

2,0 rating
9. Dezember 2019

Hi, I am the lead developer at Creative Bear Tech and I would like to contribute an article I have written to your blog blockchaincenter.net. I would be grateful if you could mention me in the bio section and add a link to https://creativebeartech.com
Thank you!
Here is the article:
Can Blockchain Technology Really Solve The Problems Faced By The Cannabis Industry?
For sure, anything related to technology may seem too complex for the ordinary person. Despite having a somewhat complex name, blockchain technology is quite easy to understand. I’m just an ordinary person like you and me, yet I was able to perform research on blockchain technology, and let me tell you, it’s quite impressive.
If you have been following cryptocurrency over the last few years, you may have already come across the term “blockchain.” If you’re not a tech expert like me, then you would have relied on Google for the definition of blockchain. Moreover, Google may have given you an answer like this: “Blockchain is a decentralized, distributed, public ledger.”
It sounds a lot harder to understand according to this definition. Basically, blockchain is the technology typically used by Bitcoin, which is a type of digital currency, in keeping track of its records.
It’s quite understandable why a few industries have misunderstood blockchain technology, considering that it is a fairly new niche in a speculative market with a somewhat foggy set of laws. On another note, cannabis also exists in a speculative market with an unclear set of regulations.
Nevertheless, both industries are receiving an influx of talented programmers and entrepreneurs looking to present a solution that will resolve their respective industry’s biggest worries. With that in mind, I wanted to come here and present to you ways on how the blockchain technology can actually assist in transforming the cannabis industry.
The Cannabis Industry is Booming
Truly, the times are changing as 30 states have legalized the use of marijuana. Nine of the 30 states legalized the use of recreational marijuana, while the other 21 states have legalized medical marijuana. It is without a doubt that the cannabis industry is booming as a total sales $6.7 billion was reported by 2017.
This number is expected to rise with a projected sales of $20.2 billion by the year 2021, which is quite an amazing figure. In fact, experts are saying that the growth rate of the cannabis industry outpaces that of which was set by the tech firms during the dot-com bubble.
I find that unlike the other industries, the cannabis industry tends to be subjected to careful examination from the public. It receives more scrutiny as compared to others. As a result, this heightens the level of uncertainty in the cannabis marketplace.
While cannabis enthusiasts are indifferent toward the idea of additional safety measures and regulations surrounding product provenance, this is an industry that would need all the help it can get. Regulators, businesses, and entrepreneurs should consider how blockchain technology could be the answer to the challenges faced by the cannabis industry.
Blockchain Technology as the “New Internet”
Before I start discussing the reasons as to why numerous cannabis firms are utilizing their own blockchain technology, it is only right that I talk a little more about what blockchain technology is and what it can do.
A lot of people have been commenting on how blockchain is an “ingenious invention.” In fact, publicly traded companies, such as IBM, are now utilizing blockchain technology as a means to solve numerous issues.
As its name suggests, blockchain is a chain of blocks. Blocks refer to digital information, which is then stored in a chain, also known as a public database.
With that in mind, these blocks, which are digital pieces of data, have three parts:
It stores the details concerning a transaction, which would involve the time, date, and dollar amount of the most recent purchase.
It also stores the information concerning those participating in the transaction. However, instead of using a name, blockchain technology reads data through unique digital signatures.
Lastly, blocks store data that makes each block unique. A code, which is referred to by many as a “hash,” is assigned to a block which will represent a particular transaction. The code of your previous purchase may look identical to your recent purchase; however, the blocks can easily tell each transaction apart by using the codes.
When a block stores new information, that information is added to the blockchain. However, before a blockchain is formed, there are four things that must first happen:
A transaction must first occur
The transaction must be verified
The transaction details must be stored in a block
The block must be provided with a hash
Why Cannabis Companies Are Embracing Blockchain Technology
Similar to most supply chains, the cannabis industry can greatly benefit from the blockchain technology. The enhanced provenance that blockchains can provide brings about the peace of mind in both suppliers and customers.
By utilizing blockchain technology, it would be easy to identify how marijuana was grown and by whom, who were the parties involved in every cannabis transaction, and that no link along the cannabis supply chain was involved in any illegal elements.
Without further adieu, here are some of the reasons why cannabis companies are embracing blockchain technology.
Processing of Payments
The processing of payments is probably one of the struggles of the cannabis industry. Despite having the majority of the states in the US legalized either recreational or medical marijuana, the federal law still poses a number of restrictions as to how payment is accepted and stored by cannabis-based firms. Moreover, 300 out of 11,000 banks, in the United States of America allow cannabis business owners to open an account.
Since cryptocurrencies and other digital currencies are unregulated and decentralized, this provides cannabis business owners the ability to accept secure and fast payments that are cashless. Since cannabis-based businesses are cash-only businesses, blockchain technology can greatly aid in the accounting processes of the business.
With blockchain technology, owners of cannabis companies no longer have to sift through an infinite amount of financial statements. Blockchain technology will not only change how payments are accepted by the cannabis industry but also the entire operation of global commerce.
Quality Assurance
The production process of cannabis may touch on numerous businesses – from the farmers and growers to the authorized dispensaries, and from cannabis retailers to consumers. Nevertheless, the utilization of blockchain technology in the supply chain of cannabis businesses provides a complete picture of its end-to-end process; thus, ensuring quality assurance.
Maintenance
Stemming from the previous point, blockchain technology also allows the consumers, regulators, and business owners of cannabis products to pinpoint the inefficiencies in the cannabis end-to-end process. Remember, a supply chain that is supported by the blockchain’s flawless math has the potential to produce an improved overall customer experience.
Standard of Transparency
Paragon CEO Jessica Versteeg shares with Rolling Stone on how her cannabis startup is utilizing its very own cryptocurrency based on blockchain technology. For VerSteeg, it’s all about transparency in the cannabis space, considering the fact that this industry is facing unclear regulations across borders.
The ledger used by the blockchain technology can either reduce or eliminate any trace of human-based complication because it is unchanging. Financial institutions and government agencies that are performing audits on cannabis-related transactions can utilize blockchain technology as a means to keep track of its legality.
Limiting Over-Consumption
There are still unclear parameters governing the use, sale, and purchase of cannabis in states that have legalized its production and consumption. While there isn’t much difference between the legality of marijuana among the various states, the laws governing cannabis production and consumption are still too difficult to enforce.
This difficulty can actually lead to potential criminal networks. What’s worse is that tracing and identifying who is abiding by the regulations and who is going against it has become much more challenging.
Needless to say, heavy-handed tactics are prohibited in the context of the legalization of cannabis, and a simple introduction of blockchain technology to monitor and track personal sales would represent a fair middle ground between the current lack of command and more unhandy strategies.
There are two companies that use blockchain technology to solve this kind of issue. With IBM’s proposed solutions, there is an increased transparency on the legality of cannabis sales. In addition, BlockMedx is working on various ways in which blockchain can assist in combatting opioid abuse.
Facilitating Taxation
No matter where you buy it or how much you paid for it, you are always going to face a heavy tax when purchasing marijuana products; this was a huge part of the legalization pitch, after all. In fact, California reported over $2.7 billion wroth of cannabis derived tax.
If one is to utilize blockchain ledger technology and that this would be mandated for dispensaries, there is a high chance that sales figures would become certain and stable. By extension, it would lead to accurate taxation and simpler audits for all of the parties involved. The best part is that the revenues from cannabis-related transactions are given back in larger amounts to the citizens of the states who have chosen to legalize marijuana.
Again, IBM as one of the companies who proposed to the Canadian Government a particular blockchain solution for ensuring the effective and accurate tracking of cannabis so much so that it would lead to easier taxation.
Nevertheless, the act of utilizing blockchain technology can also present a number of disadvantages and risks for the cannabis industry. In fact, a company by the name of Deloitte mentioned how blockchain risks are classified into three categories, which are as follows:
Standard Risks
Blockchain technology will open cannabis-based companies to various risks that are associated and are actually quite similar to that of the current business processes. This can be considered as a nuance for those who need to account for their transactions.
Value Transfer Risks
Blockchain technology allows the peer-to-peer transfer of value without any need for a primary intermediary. The value involved in this particular transfer could either be a piece of information, identity, or even assets.
With that in mind, this new technological business model exposes the transactions and any interaction made between two parties. As a result, it opens them to new risks that central intermediaries used to manage.
Smart Contract Risks
When it comes to smart contract risks, these have the potential to encode complex financial, legal, and business arrangements on the blockchain system. Furthermore, it could also result in a higher level of risk associated with the act of mapping these transactions from the physical to the digital structure.
Final Thoughts on CBD and Cryptocurrency intersection
It is without a doubt that blockchain technology has the ability to transform any business process. It can do so by disintermediating the business’ processes and central entities, improving any of its efficiencies, and allowing the creation of an immutable audit on transactions.
According to what has been explained about blockchain technology, and what has been shared regarding the current state of the cannabis industry in the United States of America, it is clear that this industry can benefit from using this developing technology as a means to track and monitor its end-to-end process without ever neglecting marijuana laws.
With that in mind, here are my final thoughts on the utilization of blockchain technology by businesses in the cannabis industry:
One thing is for sure, blockchain technology brings about an impact in various industries only because companies are choosing to embrace its system. Basically, blockchain technology can assist in the seed-to-sale monitoring and tracking of the cannabis industry.
The states that have legalized the use of either recreational or medical marijuana make use of scanning and tracking procedures so that they can monitor the journey of every cannabis product until it reaches the end-user. Nevertheless, the full farm-to-table life cycle is quite difficult to track.
This is where the blockchain technology comes in. It can easily fix this particular issue that the cannabis industry is facing. With the used of codes and labels that blockchains bring to the table, all of the information concerning cannabis-related transactions can easily be traced, stored, archived, and searched.
More and more companies are now turning to blockchain technology for a more decentralized, secured, and transparent data ledger. With that in mind, I can vouch for having at least a blockchain developer be part of your team.
By welcoming blockchain into your business, much like what cannabis companies are doing now, you are allowing easy verification without having the need to be dependent on third-parties.

Wilton Gerstaecker

Beste Börse in Europa

5,0 rating
15. November 2019

Bester Anbieter zum kaufen, verkaufen und halten von digitaler Währung. Exzellenter Kundenservice, schnell, kompetent und freundlich. Niedrige Gebühren, insbesondere wenn man den Hauseigenen Token BEST zum zahlen der Gebühren verwendet und diesen hält. Weitere Vorteile der Sparplan, Bitpanda Pay, Bitpanda Metals. Meiner Erfahrung nach der einzige Anbieter, der derzeit physische Werte wie Gold, Silber, Platin und Paladium digitalisiert hat. Ich freue mich über den derzeitig niedrigen BEST Kurs und werde meinen Bestand fleißig aufstocken, denn ich bin davon überzeugt, dass die Projekte im Jahr 2020 den BEST um ein Vielfaches steigen lassen.

Raphael

Teuer, langsam, intransparent!!!

1,0 rating
17. Oktober 2019

Mehr als oben gibt es nicht zu sagen,

Axel Stamm

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