What is Tokes (TKS)?
Future of TKS Cryptocurrency and know how to buy TKS

#1 - Tokes: The Basics

Tokes (from the Tokes platform) is one of the newly launched cryptocurrencies that is gaining mileage amongst cannabis merchants & consumers as it offers a secure & immutable digital ledger for their use. The coin seems to be paving its way to provide business to business solutions for the cannabis industry globally.

What is Tokes

  1. Tokes is a transactional protocol that runs on the Waves blockchain & serves as a payment layer for transferring money digitally in the largely cash dependent cannabis industry. Its cryptocurrency is denoted by the symbol TKS & has a total supply of 50 million coins.
  2. An initial coin offering from 30 Nov 2016 until 14 Jan 2017 distributed Tokes coins to investors.
  3. Tokes uses merchant gateways and Enterprise Resource Planning software solutions to facilitate online payments, transportation, security, genetic testing and taxation of goods (essentially cannabis) with a blockchain on the back end.

 

#2 - What are the Benefits of Tokes?

Tokes Development

  1. Tokes was developed by Michael Wagner & Gabriel Allred who are the CEO and COO respectively of the Tokes Platform. The team is backed by an experienced team of professionals who are regularly updating & expanding the network.
  2. Tokes has also partnered with Theracann, Pisos & Herbology Tours to increase its market penetration in the Cannabis industry to other continents like South America, Australia, Europe, etc.
  3. TheraCann has integrated its services with Tokes platform to enforce local legislative compliance of testing, security, tracking, taxing, labelling, and sale standards.
  4. The development team is working closely with Cannabis Hemp Exchange (CHEX) to launch Tokes ATM across dispensaries & direct mobile application purchases (via exchange partnerships). This will facilitate faster & seamless transactions.

Tokes Technology

  1. Tokes platform has a merchant gateway, which is a software protocol that enables seamless point of sale and online transactions in cryptocurrencies for any business irrespective of their industry type or size. This gateway also facilitates the sale of Tokes used for purchases via an API (application programming interface) integration with exchanges.
  2. Tokes’ Enterprise Resource Planning software solution and TheraCann will together create a blockchain to decentralize the cannabis genetics database to verify the origin, potency, and safety of genetic strains of cannabis for consumer use. This will be helpful to genetic testing labs as the public block explorer will be connected to a decentralized database that will also have the history of cannabis genetics. This is Tokes’ upcoming “proof of genome” system.
  3. Tokes offers supply chain management solution by using Waves blockchain on the backend. This “blockchain as a service” (BaaS) technology substitutes stand-alone legacy systems with a turn-key software solution. It is helpful in reducing the costs incurred in contracting or licensing with multiple entities.

Features:

  1. The Tokes blockchain can be used for tracking and storing data about genetic strains, testing data, and harvests. This helps in analysis of the cannabis crops.
  2. Merchants can use its software to give customized scripts to their clients which can be directly embedded in their existing online stores.
  3. Users can convert fiat currency into digital currencies & vice-versa on the Tokes network. It also lets them peg their assets (like Tether or WavesUSD) as an option to cannabis retailers to mitigate risks due to fluctuations in TKS price.
  4. Tokes offers supply chain management solutions to the cannabis industry. It helps through its vertically integrated software that allows everything from accounting from seed to smoke, cultivation, processing, packaging, quality assurance, and security parameters as per the regulatory protocols within the industry.
  5. Users get financial mobility and freedom by transacting through Tokes network as marijuana business is “unbankable” under current federal laws in some countries. It serves as a legal money services business (MSB) that can be used to transfer cash to its platform.
  6. Users will be able to check state compliance, protect trade secrets and sensitive customer data through Enterprise Resource Planning.

 

#3 - How to Buy and Store Tokes?

How to buy Tokes

  1. Since it has been recently launched, as of July 2018, there are only 3 exchanges offering Tokes purchases viz., Bittrex, Tidex & Waves Decentralised Exchange.
  2. Tokes coins can also be bought from its mobile app through which users can also procure information about strains for finding dispensaries & then make instant payment for them.

With the TKS cryptocurrency being available on 3 exchanges, it can get difficult to get the best price for your transactions, which is where CoinSwitch steps in.

  1. While cryptocurrency exchanges provide you a platform to buy or sell the Tokes cryptocurrency, CoinSwitch, the largest cryptocurrency conversion platform, comes in to help you make the right decision by providing the prices for TKS. This way you can choose the best deal for you!
  2. With CoinSwitch you can also buy, sell and trade over 300 cryptocurrencies for Tokes.

Tokes Storage

The Tokes wallet is available on all iOS and Android devices. This wallet has been integrated with the public Waves nodes for recording transactions & for storing TKS. Tokes coins can also be stored on the Mobile Waves Wallet.

 

#4 - What is the future of Tokes?

Also Read: Complete Analysis of Tokes | Live Tokes (TKS) Price Charts And Predictions

  1. As of June 2018, its market capitalisation stands at $3 million. The total supply of the Tokes cryptocurrency (TKS) is about 238 million TKS.

  2. With scalability for adaptating to individual markets, Tokes may be well placed to be at the centre of the shift to capture the largely unbankable marijuana industry.

  3. Priced at around $1.2in November 2017, it rose with rapid pace to touch over $8.77 in January 2018.

  4. Many analysts suggest it will be a good investment option for long-term & may eventually grow to $7.45 by 2021 due to its increasing adoption and use cases being recognised globally.

Price History

Date

Open*

High

Low

Close**

Volume

Market Cap

Jul 01, 2018

0.600539

0.648171

0.542507

0.596512

6,441

2,015,810

Jun 01, 2018

1.32

1.35

1.25

1.32

3,954

4,417,180

May 01, 2018

2.44

2.53

2.35

2.53

19,151

8,164,270

Apr 01, 2018

1.49

1.58

1.38

1.58

2,281

4,959,760

 

#5 - How is Tokes different from other cryptocurrencies?

  1. Tokes has immediate access to nearly 85% of the dispensaries in Las Vegas. Many of these dispensaries have their offices panned across the globe. This gives Tokes a much wider reach as compared to other cryptocurrencies in terms of user categories - which includes retail dispensary customers, cultivators, labs, and ancillary industry partners.
  2. Tokes network is faster than Bitcoin as it operates on the Waves blockchain that has high network capacity, low latency and low transaction fees. Its transaction time is less than 1 minute.
  3. Tokes is especially helpful to cannabis dispensary customers who earlier could buy cannabis only in cash. Tokes offers these dispensaries complete solutions for accepting payment digitally through the Tokes mobile app without bearing any liability if conducting the business solely with cash.

 

#6 - Should you invest in Tokes?

  1. Tokes provides an alternative way for payment of cannabis by offering safe digital solutions to merchants & consumers. Its value proposition is its wide offerings that range from supply chain solutions to compliance from cultivation, analysis & out-the-door packaging. This may push for more user adoption Tokes, which can increase its value.
  2. Tokenization of Proof of Genome can lure users to contribute cannabis strains that have not been logged to the database by labs. This can increase its adoption rate & the coin may seem to have a good long term potential.
  3. Tokes has created a business around its token which serves the cannabis & hemp commodity and finished products’ suppliers and buyers. This can be exploited by investors and perhaps push it for a bull run.

 

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