What is Multichain Ventures? [Beginner-Friendly Guide]

Multichain Ventures is a platform offering tools for cryptocurrency payments, blockchain development, and supply chains. The platform offers solutions for merchants, developers, and crypto companies.

With the company, you can use all the benefits that blockchain technology offers, without even having a blockchain expert on your team.

Multichain Ventures includes several products such as The Tokes Platform, Cubed, and EDEN. These products are mainly used for cryptocurrency-based payment processing and supply chain visibility tools.

So, let’s find out more about each of the products.

The Tokes Platform

multichain ventures tokes platform

The cannabis industry is growing to multiple billions. In fact, North American public cannabis companies raised about $394.1 million in January 2019 alone.

However, despite the impressive growth, stakeholders within the cannabis industry face a range of problems, especially when dealing with traditional banking infrastructure.

Since the cannabis industry is prohibited most of the related businesses don’t have access to conventional banking. As a result, the industry is left to be cash-only.

For example, in most states in the U.S. buying or selling cannabis is illegal. So, even if the cannabis company operates legally and under compliance with federal laws, banks can still refuse to work with them.

So, in search of an alternative payment solution, the companies in the cannabis industry are turning to cryptocurrencies.

On November 21st 2019, the House Judiciary Committee in the US passed a bill that decriminalizes marihuana on a federal level

How can cryptocurrencies help the cannabis industry?

In the last years, the adoption of cryptocurrencies as a payment method is rapidly increasing. Cryptocurrencies have many advantages, especially when it comes to international payments. For instance, the transactions are faster, the fees are lower, and they eliminate cash system risks.

For the cannabis industry, that means a solution to the problems they face if they work with traditional banks.

And that’s where the Tokes Platform comes in. The platform is mostly used for cryptocurrency-based payment processing in the legal cannabis industry, and it includes:

  • eCommerce storefronts
  • supply chain visibility tools,
  • mobile applications, etc.

With the Tokes Platform, companies in the cannabis industry can use cryptocurrency to pay for different products and services, including:

  • dispensaries
  • cultivators
  • processors
  • suppliers
  • tertiary services

Also, the important part of the platform is the Tokes Merchant Gateway software, which provides a point-of-sale application for cannabis businesses to accept the tokenized asset Tokes or other cryptocurrencies.

In other words, the Merchant Gateway allows easy integration of eCommerce to existing web stores through QR codes at checkout. The integration lets users leverage trade processing and settlement features as the point-of-sale.

Cubed

multichain ventures cubed

One more product coming from the Multichain Ventures laboratory is Cubed, a processing engine that enables merchants to accept cryptocurrency as a form of payment. Its software has features such as:

  • employee sales tracking
  • accounting
  • visualization of sales data, etc.

Moreover, Cubed isn’t focused only on the cannabis industry, but on direct consumer adoption as well. It’s a payment processing software for cryptocurrency adoption for both eCommerce and brick-and-mortar businesses.

Moreover, Cubed offers white label solutions for retail sectors, and it can be used for customer deployment as part of a merchant package.

EDEN

multichain ventures EDEN

Centralized supply chains have many flaws. For example, to prove an item’s originality and integrity can be challenging since there is no record of the item’s roadmap.

On the other hand, with blockchain-based supply chains, we can track the physical movements of products, from seed to the store.

But tracking items isn’t the only problem centralized supply chains face. You see, centralized data storages for the supply chain industry are often vulnerable to data loss. And data are one of the most valuable assets of any business.

Luckily, this is where EDEN can help.

EDEN, which stands for EPCIS Decentralized Network, uses blockchain to create supply chain visibility tools for data storage and verification of goods. Further, it can improve supply chain visibility for any type of company, not only the ones in the cannabis industry.

EDEN combines global data tracking standards with the power of blockchain technology to increase the accuracy of supply chain data.

For example, the first client for EDEN was TheraCann International, which provides systems to track “seed-to-sale” supply chain data within the cannabis industry to help businesses with regulatory compliance.

With the help of EDEN Blockchain, TheraCann International managed to solve the “garbage in, garbage out” (GIGO) problem which is typical to supply chain tracking.

EDEN has a native token called Tokes. Let’s find out more about it.

Tokes – backing up EDEN Blockchain

EDEN’s native token runs on the Waves platform, and it’s the native cryptocurrency of the entire Multichain Ecosystem:

  • Tokes Platform
  • Reli.Cloud
  • EDEN, and
  • Cubed.

That is to say, these products and services have Tokes (TKS) integration.

There is a total of 1,000,000,000 Tokes (TKS) within the ecosystem. To make transactions with TKS, users can use the mobile wallet, which has a user-friendly interface, and it’s available for both iOS and Android.

Reli.Cloud

reli.cloud

Reli, which is short for reliable, is a sister company of Multichain Ventures. It’s a managed DevOps service using cloud-computing infrastructure to host all products within the Multichain Ventures ecosystem.

Moreover, Reli.Cloud is independent and deployable to AWS, Google Cloud, Digital Ocean, etc.

With Reli, applications can move between various cloud infrastructures without having to undergo major changes.

What’s more, with Reli, teams can easily and quickly deploy various software products.

Its main purpose is to serve as a Platform as a Service (PaaS), although Reli can be used for other types of services, like BPaaS (Business Processes), Management and Security Services, or even IaaS (System Infrastructure Services).

In addition, according to the Multichain Ventures white paper, in 2020, Reli will provide blockchain node hosting.

In short, this puts Reli in direct competition with platforms like Infura for Ethereum, Waves, or any other platform requiring blockchain infrastructure.

Multichain.Ventures Airdrop!

We wouldn’t be Airdrop Alert, if we didn’t provide you with an airdrop opportunity. Right?

Well, here it is ladies and gents!

It’s a fairly easy airdrop to join their Telegram and Twitter channels. Leave your Waves wallet address and you can expect the tokens after IEO is completed.

Claim your free TKS tokens today.

Final words

The cannabis industry is still highly unregulated and its supply chain system needs a technology such as blockchain. Why? For starters, to prevent data loss, protect privacy, and eliminate fraud.

Additionally, companies in the cannabis industry need reliable and transparent technology to track products from genome to sale.

Luckily, Multichain Ventures makes this possible.

Its software eases the adoption of cryptocurrencies and the legal cannabis industry doesn’t have to rely on the mercy of traditional banks. Moreover, companies can easily leverage the advantages of blockchain technology.

***

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