The Coop Network has adopted the GEOMA DAO COOP model, which is essentially a hybrid and unique economic model that uses the cooperative system in combination with the DAO (Decentralised Autonomous Organisation) model offered by the blockchain technology.
In essence, the Coop model entails an entire association of similar-minded individuals who share common financial and economic goals. They work in tandem to achieve these objectives by relying on a jointly-owned and shared business as their vehicle. Thus, the GEOMA DAO COOP model offers an open and voluntary membership, democratic control of the members, with every member having the right to one vote, independence, autonomy, and economic participation by members, as well as education, information, training, and cooperation, among the cooperatives.
Given the current revolution in the blockchain space, an explosion in the Defi markets, the GEOMA model is set to become the best economic model of the twenty-first century. The model leverages blockchain to ensure that the existing cooperative systems become more efficient, as well as prepared for next-generation business process services.
In This Article, Discover How The Coop Network Brings Blockchain Technology To The CBD Industry And Is Dedicated To Transforming The Future Of The CBD Industry For The Better.
What Are The Two Token Models In The Coop Network?
The Coop Network offers two distinct token models. While the first is the Security Token model that represents the social aspects of the COOP, as well as are the dividend bearers, the second happens to be the Utility token model.
As far as the Security token model is concerned, in these, the tokens are non-fungible, which implies that every token has a unique attribute or information, making them irreplaceable. These tokens are the COOP’s backbone, and one can use them only after any proposal is passed through a voting system. The ticker for the Security Token is COOP-S. Also, these digital tokens are sold and bought from within the Coop Network only. This token model requires KYC/AML verifications and comes as a paper certificate (as the insurance).
Currently, the Coop Network has supplied as many as 1 million Security tokens. The launching price of a single COOP is 2.1 USDT. Also, the minimum payable amount for a single contributor to attain membership (along with full rights) is around 10,000 COOP-S. If you are interested in cryptocurrency investing and the Coop token model, then you should also know that the pricing for a single COOP-S will rise in proportion to the value of the businesses created.
The second digital token model from the Coop Network is the Utility token. These are essentially digital assets used for financing the network. This implies that the buyers of the token get an assurance that they will be able to consume a couple of products of the Coop Network. The Utility token model is the very backbone of the GEOMA COOP Network. These tokens are used for governance and gas purposes, for general Decentralised Finance activities, as well as for securing the blockchain. The ticker for the Utility token is GMD, and it is the genesis token of the network.
A total of 1 billion GMD have been supplied so far, and the governance committee has permanently locked 13% of the entire supply of the GMD token. This will ensure that the Point of Sale Coop Network blockchain remains secure, and almost 51% of the attacks from ill-intended groups or individuals can be prevented. Also, these digital wallets function as Multi-Sign wallets, which implies that funds cannot be moved in the absence of approval from a minimum of four other wallets, as well as after all the members have performed their voting. However, these wallets happen to be public and are thus open for community monitoring.
At present, the Coop Network has decided to use 10% of the overall supply for airdrops, listing purposes, marketing, and staking rewards. On the other hand, 10% of the tokens will be used for team development. In addition to this, around 670 million tokens will be used for forming a global user community. Out of these, 100 million tokens are ERC-20 tokens, which will be used for interacting with the ETH Blockchain (COOP), whereas another 100 million will be BEP-20 tokens that would be used for interacting with the BSC or Binance Smart Chain (bCOOP). The remaining 470 million tokens will be the native tokens of the Coop Network.
How Does The Burn Program In Coop Work?
What Is The Coop Wallet? What Features Does It Offer?
If cryptocurrency investing interests you, then you must learn more about the Coop Wallet and its unique features. To be able to transact on the Coop Network, the holders of the token can create wallets featuring easy-to-access and use interfaces.
The mobile wallet can be accessed through both Android and iOS devices, and will also be implemented under several other wallets at a later stage.
The Mobile Wallet From The Coop Network Also Offers The Following Added Features:
-Biometric security (i.e. Fingerprint and Face ID)
-Manual and private seed phrase backup, as well as import
-Push notifications to get information about promotions, as well as to avail discounts.
What Role Does Blockchain Play In The CBD Industry?
Aside from the crypto space, blockchain technology also plays a vital role in the CBD industry. Both the blockchain and CBD sectors have grown in popularity, garnering interest from different sectors. Today, governments across the world are looking to integrate blockchain technology to ensure the legalisation of the cannabis industry, thereby keeping people safe, healthy, and happy.
With more and more people trying CBD products, the legal cannabis sector is fast becoming mainstream. Today, CBD-based oils, vape juice, creams, and other supplements are being sold in the local pharmacy as a growing number of individuals have started using them. On the other hand, blockchain has also become the central point of discussion in the mainstream media. The technology enables corporates and the government to legalise the production and use of cannabis. As a result, crypto entrepreneurs are rushing towards the cannabis industry to find unique ways to ensure the legalisation of cannabis. Thus, as the cannabis sector continues to expand and prosper, the future is ideal for integrating blockchain and cryptocurrency into it. So, while the CBD industry is struggling due to limited awareness and increased regulatory laws and regulations, blockchain can help in streamlining its production as well as usage, leading to improved legalisation of cannabis.
How Does The Coop Network Blockchain Revolutionise The Cbd Industry?
With the Coop Network, the focus is quite clear. It is committed to creating a shared digital economy, which is distributed via blockchain technology among all its members, as well as associated members. The Coop Network will leverage blockchain applications to venture into the CBD sector and revolutionise the future of the CBD industry. GEOMA DAO COOP is looking to create a best-in-class facility for the controlled commercialisation and production of CBD as well as related products, and it will most likely be established in the third quarter of 2021.
According to a report, the size of the cannabidiol market will likely reach USD 13.4 billion globally by 2028. It is expected that this market will further grow at a 21.2% CAGR from 2021-2028. The report further stated that the hemp sector contributed the highest revenue at 1.7 billion USD because of the several health benefits that products with cannabidiol (extracted from marijuana) offer. Also, CBD derived from hemp will likely contribute the quickest CAGR during the same period, given hemp legalisation in different countries.
However, while the cannabis industry in Europe is worth more than billions, it faces a huge problem, i.e. its main product is not fully regulated. While several European nations are altering their legal status towards CBD, and many countries have started tolerating cannabis sales, the production, possession, as well as transport of CBD, are still considered illegal in several parts of Europe. This is precisely why the industry has failed to function transparently. Additionally, the CBD market is considered to be shady, and it is assumed that it cannot be monitored by the governments as well as audited by any financial institution. This results in all sorts of challenges, impacting both businesses and consumers.
Apart from this, the quality and origin of cannabis products are unknown in Europe, and firms that emphasise quality are unable to prove that they are offering superior products. This affects the firms and the consumers who have to settle for inferior quality products. Another issue with the European cannabis industry is that the consumers have to forcefully share their personal information (such as the details of their bank account) to fulfil their online orders. Many consumers find it difficult to share their personal information with cannabis providers.
Given the above issues, the Coop Network focuses on offering a decentralised association called the GEOMA DAO COOP, to build the future of the CBD industry. The GEOMA DAO COOP looks to end the restrained attitude of the existing businesses in the cannabis market, thereby earning the trust of the consumers, financial institutes, and regulators. It aims at reforming the cannabis industry in a phased manner through well-integrated blockchain technology and solution. This, in turn, will ensure greater transparency, benefitting both the businesses and consumers and result in a bright future for the CBD industry.
The GEOMA DAO COOP aims to get rid of costly and inefficient transactions by offering a decentralised digital token that is very fast, secure, as well as complying with the existing local regulations. The COOP also looks to offer high transparency by extending the ability to trace the sales, production, as well as distribution of products made from cannabis. COOP will also focus on building reputation and trust by offering a system of rating for all the partakers, as well as by providing a highly encrypted and secure identity to the COOP users.
COOP will ensure greater transparency of the CBD industry by adding functionalities for monitoring of supply chain to the blockchain. Businesses in the cannabis industry will be able to take advantage of a unique tool for optimising their supply chain. COOP will incorporate a dedicated layer of the supply chain in its blockchain. Inside this layer, it will create digital identities for all the physical goods in the chain and for the numerous actors that form a part of the supply chain, including processors, growers, distributors, laboratories, merchants, etc. This immutable blockchain will help the COOP record the full custody of every single item logged into the blockchain, from origin to PoS. In addition to this, several applications shall be created for firms to use smart contracts, as well as supply chain functions that the GEOMA Coop blockchain will provide to revolutionise the future of the CBD industry. This will ensure greater traceability and also allow organisations to improve inventory management. COOP will also offer an easy-to-access mobile application, enabling consumers to easily access all the information that they want to about a desired product via QR codes.
Given the above, it won’t be incorrect to say that the future of the CBD industry is in the hands of the blockchain and firms like the Coop Network. More and more cryptopreneurs will venture into the CBD sector as it continues to explode in size and strength, and the Coop Network will ensure greater transparency, security, regulation, and efficient transactions, benefiting consumers, CBD firms, and the entire supply chain in the days to come. The Coop Network will leverage blockchain to revolutionise the cannabis space and build the future of the CBD industry.
To learn more about the Coop Network, visit https://www.thecoopnetwork.io/en!
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
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