ICOBox joins forces with Pavo to bring much-needed IoT blockchain technology to the agriculture industry.
Pavo, an IoT blockchain solution for the Ag Ecosystem, geared towards increasing yield and operational efficiency, has just announced that it will be working with ICOBox, the world’s leading provider of SaaS solutions for ICOs, to conduct its token sale. Pavo’s IoT platform is designed to attack the trillion-dollar U.S. food and agriculture industry.
Initially targeting the legal cannabis segment of the market, Pavo aims to make quite a splash: aside from helping growers run their site operations and manage their supply chain, Pavo also plans to offer a cryptocurrency for the entire b2b cannabis ecosystem – including growers, wholesalers, dispensaries, infused product manufacturers, and others – to use for secure, safe, reliable payments. ICOBox will be providing a full range of technical, legal and marketing services for Pavo as it prepares for its ICO.
When governments authorize the use and sale of medical cannabis, they also introduce strict regulations that must be observed by buyers, producers, and law enforcement. Medical cannabis producers know that there is no room for error: the law makes it paramount that licensed producers adhere to security, manufacturing, recordkeeping, and quality standards. Every licensed producer must take the appropriate steps to ensure that each aspect of their operation is tracked for mandated compliance reporting and inspection. Failure to meet these standards may result in losing a license to cultivate and sell medical cannabis. In addition to helping cannabis growers improve their crop quality, Pavo also makes it easier for them to run their operations efficiently and transparently. From taxation to regulatory compliance to managing the cost of goods, from inventory control to growth reinvestment, cannabis retailers face nonstop challenges, and Pavo helps them address them with the help of its state-of-the-art blockchain-based system, which allows them to manage their business from seed to sale, ensuring authentication, confidentiality, and accountability while making smarter, faster and more sustainable agricultural and business decisions based on real data.
Pavo’s entire ecosystem is powered by its cryptocurrency PavoCoin, which is about to be offered via public presale, which starts March 15, 2018. Pavo, a functional usage coin, will enable the producers to accept digital payments from their customers and community members. The ICO aims to collect $65 million via its ICO, which will be used to finalize the product and support the ecosystem. “We are looking to forever change the way the cannabis market operates,” says Erhan Cakmak, the company’s co-founder and CEO. “We believe that blockchain is the perfect medium that will tie all market participants into one coherent, transparent, secure, and sustainable system, and our goal is to become the ultimate marketplace for this ever-expanding industry.”
Unlike many ICOs, Pavo already has a working product that is currently in pilot deployment with growers in the San Francisco Bay area. Upon the completion of its ICO, Pavo plans to drive adoption of 500 grower sites in the first 12 months, and 1,000 in the first 18 months, and, in the future, to introduce the cannabis futures exchange clearing house. As the target audience for their tokens the team sees cryptocurrency buyers in Switzerland, Germany, UK, US, Japan, and China, who may have a specific interest in the cannabis industry, and the more general cannabis community, including the legal cannabis growers, processors, and distributors in North America.
“Pavo is addressing a very important issue in the cannabis market – its transparency and sustainability,” says Nick Evdokimov, ICOBox co-founder. “ICOBox is a perfectly suitable solution for blockchain-based projects like Pavo: we work closely with their team to prepare the ICO while the company can focus on the actual business at hand. The obstacles faced by the cannabis industry are complex and unique, and the team is getting ready to launch a solid, innovative product that will bring significant benefits to all market participants.”