Paragon Uses ICOBox’s Cryptocurrency Solutions to Raise $100 Million to Elevate Cannabis Industry
Singapore – Paragon; a California-based tech company looking to attract $100 million to elevate cannabis industry into the American mainstream, signed up with ICOBox, the premier provider of SaaS solutions for conducting ICOs (initial cryptocurrency offerings).
Paragon, a blockchain-based smart contract provider for the marijuana industry and supply chain, seeks to change the status of the cannabis community from marginalized to the mainstream. By inserting blockchain throughout industry’s supply chain, Paragon hopes to become the foundation for marijuana’s full legalization in the U.S.
Paragon is using ICOBox’s solutions and support for its book-building platform, the smart contract that underlies ParagonCoin (PRG) token and the token management system, PRG marketing strategy, and advertising.
“Paragon is tackling a gigantic challenge by bringing the much-needed transparency to the cannabis industry,” said Nick Evdokimov, ICOBox co-founder, and Paragon Advisor. “ICOBox is a logical solution for blockchain-focused projects like Paragon: We seamlessly link with their team and accelerate ICO process while Paragon can focus on the business at hand.”
U.S. Marijuana Market generated revenues of $6.7 billion
Retail sales for legal marijuana is a fast-growing business. ArcView estimates that in 2016 the U.S. marijuana market generated revenue of $6.7 billion. According to projections from research company GreenWave Advisors, the marijuana industry would make a little over $19 billion by 2020 – more than the NFL.
“Paragon will change the landscape of cannabis industry and the American experience for good,” said Jessica VerSteeg, Paragon’s CEO. “We believe that blockchain is the missing link between cannabis and its full and proper legalization. We are passionate about making cannabis an ethical, morally responsible, and legal industry in the United States.”
Besides VerSteeg, who first obtained her celebrity status as Miss Iowa, Paragon’s executive team has many luminaries, most notably Egor Lavrov, a serial entrepreneur who sold his first business for $2 million at the age of 16, hip-hop artist Jayceon Terrell Taylor, better known by his stage name The Game, Chernobank CEO Sergey Sergeenko, and Ryan Junee, co-founder of Y-combinator.
Paragon wants PRG to become a de facto currency for business-to-business transactions in the marijuana industry, all while injecting industry’s supply chain with more legal transparency and quality assurance by tying it to Paragon’s blockchain platform.
PRG tokens would be used by doctors, transporters, dispensaries and other supply chain businesses that currently have to rely mainly on cash for transactions.
Paragon aims to sell 100 million ParagonCoins for $1 each from September 15, 2017, through October 16, 2017. ParagonCoin will begin trading on cryptocurrency exchanges in November 2017. Paragon pre-salestarted on August 15, with $25,000 minimum purchase.
More information on ICOBox’s services is available at icobox.io
About ICOBox
Founded in 2017, ICOBox offers fixed-price packages to projects looking to sell their products and services via tokens. ICOBox provides technical, legal, and marketing services as part of its Fixed-Price Service Package. ICOBox was founded by three blockchain visionaries: Nick Evdokimov, a co-founder of SeoPult, an ex-CEO of AdInTop and a co-founder of Cryptonomos, Mike Raitsyn, a serial entrepreneur, and Anar Babaev, a Head of Digital Marketing at Cryptonomos. Details on ICOBox can be found at www.icobox.io Details of ongoing ICOS ICO can be found at icos.icobox.io. For more information, please e-mail [email protected].
To submit a project go to https://cryptoform.typeform.com/to/zzXaZo.
About Paragon
Paragon is a distributed ledger for the marijuana industry and supply chain. Paragon’s blockchain-backed network will enable secure and transparent record-keeping for doctor registries, medical cards, and prescriptions. The protocol can also be used to log data pertaining to cannabis products, including time of harvest, origin, organic status, CBD/THC content, and sustainability. The company is led by CEO Jessica VerSteeg, former Miss Iowa USA and a star of the reality TV show The Amazing Race, and by Egor Lavrov, Chief Creative Officer, who is a serial entrepreneur who sold his first business for $2 million at the age of 16. Paragon’s team includes alumni from Facebook, Google, Cisco, and Y-Combinator and hip-hop artist The Game.
