Epazz developing smart contracts for HEMP IEO on Asia Token Exchange
Epazz, a provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, is working with Greenheart CBD Hemp company to develop smart contracts for the company's IEO (Initial Exchange Offering).
The company will be enhancing smart contract software to allow other organisations interested in launching IEOs using an 'easier way to create and modify their smart contracts without needing a programmer'.
According to Carlos RW, senior economist and researcher at De Meijer Independent Financial Services Advisory (MIFSA), the global blockchain market size would grow exponentially in 2021. More businesses from many industries expressed their increasing interest in using blockchain technology to advance their business processes. The Covid-19 pandemic fast-tracked the digital transformation drive in many aspects, including distributed ledger or blockchain technology. Thus, the global blockchain market size will expand from USD3 billion in 2020 to USD39.7 billion by 2025 at an effective compound annual growth rate (CAGR) of 67.3 per cent.
Many industries are looking for solutions using blockchain technology as a beneficial tool to digitalise their businesses. The adoption of fintech and blockchain technology allows companies to upgrade and streamline their operations. In addition, the acceptance of tokenisation or the digital storage of assets on blockchain will speed up the progress of DeFi or decentralised financial services. DeFi demonstrates the successful process of smart contracts for financial services. It is an alternative form of business financing that perfectly fits the parameter of the fintechisation of the economy. DeFi services witnessed impressive growth this year and surpassed USD10 billion. It is expected to speed up in 2021 and beyond.
Epazz blockchain technology provider developed an IEO securitised token software using smart contracts to help Greenheart CBD Hemp company launch Greenheart Punt, as their liquid token to be used across their current and future range of CBD products. This collaboration between Epazz blockchin technology and Greenheart CBD Hemp company is part of the growing 'DeFi' movement, which will take advantage of the blockchain's capacity to establish a decentralised ecosystem, uncontrolled by a single entity, and improved accessibility for token holders. It will address the challenges of the lack of proper banking support for the CBD industry worldwide.
Epazz blockchain trading technology and Greenheart CBD Hemp company anticipate its global reach with its initial IEO sale. It offers 200 million Greenheart Punt tokens backed by 1,000 litres of Greenheart's CBD oil, with an approximate value of USD4 million. The Greenheart Punt token began trading on 1 December, 2020, through the LAToken mobile app.
Investors can redeem their tokens for CBD oil if they wish. The token will enable the holders to skip expensive payments and processing fees charged by traditional financial payment providers. In the IEO sale, the company is offering 40 million Greenheart Punt tokens to accredited non-US investors. With this premise, the company gears up to enter the Asian Token Exchange to accommodate Asian investors, especially in China.
From a regional perspective, China is leading the blockchain arena as China's government-sponsored blockchain-Based Service (BBS) Network aims to make blockchain technology a vital part of its digital infrastructure. China is on the verge of issuing its crypto yuan as part of its goal to provide a global public infrastructure through its BBS Network.
Shaun Passley, PhD, CEO, and Chairman of Epazz, says: "As we enter 2021, adapting to the new normal lifestyle, maintaining social distancing and performing electronic payment transactions can further highlight the value of cryptocurrencies. However, with high liquidity in the crypto space, anything can happen; that's why our blockchain technology will help track and monitor the slightest change in the crypto movement to help users decide logically."