Blockchain
NxGen Brands, Inc. Announces Partnership with Digital Supply Chain and Blockchain Developer to create a Proprietary Cloud-based Framework for Delivery Services and Licensing to MJ Dispensaries Nationwide
NxGen Brands Inc. (OTC: NXGB) (“NXGB” or the “Company”), is pleased to announce that it has partnered with a digital supply chain & blockchain developer to allow the Company to enter into the rapidly growing U.S. cannabis dispensary delivery services market. The partner, Bengala Technologies LLC, is a nationally recognized developer in this field located in West Palm Beach, Florida.
The partnership with Bengala Technologies LLC (https://bengalatech.io), will allow the company to deliver its own proprietary brands of flower and Leafywell™ products, and will allow it to create a national network to provide delivery services for dispensaries across the country. The sale and delivery for recreational and medicinal cannabis is projected to see explosive growth through 2027 reaching $73.6B, and this transaction allows the Company to be at the forefront of the projected wave.
A cannabis dispensary delivery provider must adhere to multiple local, state and national regulations, including licensees, transportation and delivery requirements. The blockchain digital supply chain technology apps to be developed for the Company will address these issues and allow the Company to be compliant and adhere to the regulations across all national markets.
“Angel Burgos, the Company CEO said: “Cannabis companies that provide delivery services – including delivery operators and retailers – are seeing a deluge of orders as customers stock up on marijuana products in the wake of current pandemic concerns. Our hope is that, after opening projected operations in California, Michigan and we will then do the same in Florida. Initially for medicinal delivery services while awaiting pending recreational approval. Internal research has demonstrated that faster delivery can spur increased sales and help to increase revenues.”
Bengala Technologies LLC, achieved excellence in the field of blockchain consulting and development by creating and deploying custom decentralized blockchain and supply apps including Supply Chain, Blockchain and Smart Contract Development applications.
Mr. Arnaldo Detres, the Managing Director of Bengala Technologies LLC, said: “There are so many variants of regulations in the cannabis delivery services and blockchain can meet these regulatory and supply side needs from available inventory and supply to delivery for the proposes of local authentication and validation rules. Blockchain can enable more transparent and accurate end-to-end tracking in the supply chain organizations can digitize physical assets and create a decentralized immutable record of all transactions, making it possible to track assets from production to delivery to end user.”
According to a recent report by ArcView Market Research and BDS Analytics, the global licensed dispensary sales of cannabis will reach $40.6 billion by 2024, registering a CAGR of 24.5%. The US will account for about $30 billion or 73% of the global cannabis dispensing market in 2024. It is projected that by 2024, the retail dispensing sales of legal recreational cannabis will cross $26.7 billion, whereas the revenue generated from the sales of medical cannabis will reach $13.9 billion. The retail sales of THC containing products from licensed dispensaries across the US will feature growth of nearly 300%, i.e., from $8.4 billion in 2018 to more than $24.7 billion in 2024.
The partnership will allow NxGen Brands to produce and ship via its proprietary direct delivery network with the software and technical technologies created by Bengala Technologies LLC, both existing CBD based SKU’s and cannabis-based products. This will allow the Company to market throughout the states which have recreational and/or medical and continue to establish and grow the Leafywell™ branded products. The transaction also aims at interacting with other companies and expanding the licensing deal possible focusing on combining its brands with medical licensed producers, to shape how future cannabis brands operate in the United States.
According to a report from CoinTelegraph, nearly forty percent of institutional investors in Canada have exposure to cryptocurrency, as revealed by KPMG. This finding underscores the growing acceptance and adoption of digital assets among institutional investors in the country.
The report indicates that a significant portion of institutional investors in Canada are actively investing in or exploring opportunities in the cryptocurrency market. This trend reflects a shift in sentiment towards digital assets, with more investors recognizing the potential for long-term growth and diversification offered by cryptocurrencies.
KPMG’s findings highlight the increasing mainstream acceptance of cryptocurrencies among traditional investors, as well as the growing interest in blockchain technology and its potential applications across various industries. As institutional investors continue to enter the cryptocurrency market, they are expected to bring additional capital and liquidity, further fueling the growth and maturation of the digital asset ecosystem.
Overall, KPMG’s report signals a significant milestone in the adoption of cryptocurrencies in Canada, indicating that institutional investors are increasingly recognizing the value proposition of digital assets and integrating them into their investment portfolios. This trend is likely to accelerate the broader adoption and mainstream acceptance of cryptocurrencies in the country and beyond.
Source: cointelegraph.com
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Blockchain
BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests
The BounceBit (BB) Megadrop is now open for participation, as announced by Blockchain.News. This event presents an exciting opportunity for users to earn BB tokens by engaging in various activities, including subscribing to BNB locked products and completing Web3 quests.
Participants can join the BB Megadrop by subscribing to BNB locked products or completing Web3 quests, both of which offer different avenues for earning BB tokens. By participating in these activities, users have the chance to accumulate BB tokens and potentially benefit from the rewards associated with the Megadrop.
Subscribing to BNB locked products allows users to earn BB tokens by locking their BNB assets for a specified period. This not only provides users with an opportunity to earn rewards but also contributes to the liquidity and stability of the BounceBit ecosystem.
Additionally, completing Web3 quests offers users an alternative way to earn BB tokens by engaging in various tasks and challenges related to Web3 technology. These quests provide users with a fun and interactive way to learn about blockchain and cryptocurrency while earning rewards in the form of BB tokens.
Overall, the BB Megadrop presents an exciting opportunity for users to participate in the BounceBit ecosystem and earn rewards by engaging in activities that contribute to the growth and development of the platform. As the Megadrop progresses, participants can look forward to additional opportunities to earn BB tokens and potentially benefit from the rewards associated with this event.
Source: blockchain.news
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Cronos, a prominent blockchain platform, has announced a collaboration with KYVE aimed at revolutionizing blockchain data, as reported by CryptoNewsZ. This partnership represents a significant step forward in enhancing the efficiency and scalability of blockchain data storage and retrieval.
The collaboration between Cronos and KYVE seeks to leverage KYVE’s decentralized data storage and retrieval solution to enhance the capabilities of the Cronos blockchain platform. By integrating KYVE’s technology, Cronos aims to address the challenges associated with storing and accessing large volumes of data on the blockchain, such as scalability and cost-effectiveness.
KYVE’s decentralized data storage solution utilizes a network of distributed nodes to store and retrieve data, ensuring high availability and reliability. This approach not only improves the efficiency of data storage and retrieval but also enhances the security and resilience of the blockchain network.
The partnership between Cronos and KYVE is expected to unlock new possibilities for decentralized applications (dApps) and smart contracts built on the Cronos platform. By providing a more efficient and scalable solution for blockchain data management, Cronos aims to attract developers and enterprises seeking to leverage blockchain technology for a wide range of applications.
Overall, the collaboration between Cronos and KYVE represents a significant development in the blockchain industry, highlighting the importance of innovation and collaboration in driving the evolution of decentralized technologies. As the partnership progresses, it is poised to deliver transformative benefits for blockchain data management and accelerate the adoption of decentralized applications and services.
Source: cryptonewsz.com
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