Tokes Platform and Cannabis Hemp Exchange (CHEX) Announce Strategic Partnership
LAS VEGAS, March 12, 2018 /PRNewswire/ -- Tokes Platform, a leader in providing blockchain solutions for the cannabis industry, and Cannabis Hemp Exchange (CHEX), a decentralized wholesale exchange platform built over Blockchain technology to serve suppliers and buyers of Cannabis & Hemp commodities and finished products between B2B industry parties, is pleased to announce today they have entered into a strategic partnership based around a "merger" of their individual blockchain tokens.
After both companies facilitated separate initial coin offerings for their proprietary utility tokens to be used as a digital currency for B2B and B2C Cannabis transactions, it was mutually agreed that building an ecosystem for the industry around a single token is a more effective strategy. As such, CHEX Token (CHX) holders will be converted to Tokes (TKS), and Tokes will become the native primary means of value exchange on the CHEX platform.
The implementation of additional TKS token utility into the CHEX marketplace, will garner brand awareness, token demand and price stability, and easier merchant sales. "The sooner we can grow adoption of a regulatory compliant industry token, by proposing a sensible token unification/consolidation model in an increasingly saturated ICO market, and teaming up, the better we can solve problems in a highly inefficient, cash-intensive Cannabis industry," says Eugene Lopin, CEO of CHEX.
As part of the alliance, CHEX and Tokes development teams are working together to build intuitive cross-platform solutions to enable physical & online businesses to seamlessly accept TKS payments. This includes a TKS merchant gateway integrated into a Tokes Point of Sale (POS) system/storefront, and consumer mobile wallet apps. Also on the roadmap are Tokes ATM's to be placed at dispensaries.
By managing the underlying platforms with an intuitive user experience (UX), the team is preparing to Beta launch innovative solutions not available with other industry coins. Examples of imminent solutions include both private (white label) distribution and public exchange platforms for B2B cannabis and hemp transactions, in addition to, the TKS merchant gateway, POS, and consumer wallet app for B2C transactions. By implementing this strategy, CHEX and Tokes will facilitate transactions on the WAVES blockchain, an immutable decentralized ledger, which has solved for the high transaction volume scaling issues of other blockchains, such as Bitcoin and Ethereum.
Cannabis Hemp Exchange (CHEX) www.TheChex.com is a technology development company that powers innovative marketplace platforms with a premium user experience (UX). Modern cross-platform solutions are tailored for the business and regulatory needs of supply chain participants, including Producers, Distributors, Manufacturers, Retailers and Brands.
With initial focus on the nascent Cannabis and Hemp markets, CHEX aims to facilitate centralized marketplace adoption that provides the supply & demand connectivity and structure needed for complete market information, optimized business connections, and the opportunity to positively affect universal industry standards.
About Tokes Platform:
The Tokes Platform was founded to solve the legal cannabis industry's cash-only transaction and banking issues with their cryptocurrency Tokes ($TKS), as well as their software solutions for payment processing and supply chain management. Tokes are a robust cryptocurrency with fast transaction times (less than a minute) and a secure immutable digital ledger. More information about Tokes Platform is available at https://tokesplatform.org. TKS is traded on BITTREX (BITTREX.com)
Tessa Breeden, Director of Marketing for Tokes Platform Email: [email protected]; Cell: 775-544-3890
Eugene Lopin, CEO, Cannabis Hemp Exchange (CHEX) Email: [email protected]; Cell: 718-938-0508
View original content:http://www.prnewswire.com/news-releases/tokes-platform-and-cannabis-hemp-exchange-chex-announce-strategic-partnership-300611302.html