Background - SMOKE.NETWORK
The Exploding Legal Cannabis Market
Research from industry experts points toward a 60% year over year compound growth for the legal cannabis industry as a whole [FORBES 2017] from the current estimated global market size of $7.7 billion to reach $31.4 billion by 2021. Smoke Network is positioned to take full advantage of the growing global legalization movement and the impending legalization of recreational cannabis globally. Based on stats from the United Nations’ World Drug Report [UNODC.ORG 2017] there are an estimated 182 million cannabis users globally, with 40 million of those users residing in the USA. By cornering a portion of this market, Smoke Network aims to create a vibrant online community centered around cannabis culture that benefits all participants in the network. The market for cannabis social networks has already been validated by competing websites and apps which have millions of users per month and have IPO’d valuations of as high as $5 million [CRUNCHBASE 2018]. The growing cannabis industry has created a platform where cannabis culture is being legitimized in popular media and marijuana users are becoming more and more open about their cannabis use and are looking for new communities to engage with, while at the same time marijuana brands are looking for new ways to reach their customers.
An Established Online Cannabis Community
420Smokers.us is an online cannabis brand founded by the creators of Smoke Network at a time when cryptocurrency and decentralized applications were still a relatively new concept and no blockchain existed that could handle enough transactions per second to pull off a decentralized social network. Since then the 420Smokers fan base has grown to over 500 000 passionate cannabis users [FACEBOOK 2017] and blockchain technology has evolved to allow our vision to come to reality. Being well-attuned to the wants and needs of real-world stoners, we feel capable of driving adoption of Smoke.Network beyond the scope of speculators and crypto traders
The Rise of Steem
In 2016 the Steem blockchain was launched and distributed $1.3 million dollars to its users [Bitcoin.com 2016] only months after launching. Since then its most popular website front-end has grown to become one of the top 500 highest traffic websites in the US and one of the top 1500 most popular websites in the world [ALEXA 2017] serving millions of pages of content per day. The popularity of the Steem platform has proved the demand for rewards based on social networks on the global market.
Smoke Network is Born
After our first ICO in August 2017, we built an alpha version of the Smoke Network application running on the Steem blockchain which rewards users in Steem for their posts. This demo is still running and received great reviews from the wider community. After this, we set out to improve this design in our beta application. To see our current roadmap click here. As cannabis gains mainstream acceptance Smoke Network will position itself as the go-to tool for cannabis-related social media, strain reviews, dispensary reviews, grow journals, peer-to-peer cannabis related transactions and highquality cannabis related content.
Research from industry experts points toward a 60% year over year compound growth for the legal cannabis industry as a whole [FORBES 2017] from the current estimated global market size of $7.7 billion to reach $31.4 billion by 2021. Smoke Network is positioned to take full advantage of the growing global legalization movement and the impending legalization of recreational cannabis globally. Based on stats from the United Nations’ World Drug Report [UNODC.ORG 2017] there are an estimated 182 million cannabis users globally, with 40 million of those users residing in the USA. By cornering a portion of this market, Smoke Network aims to create a vibrant online community centered around cannabis culture that benefits all participants in the network. The market for cannabis social networks has already been validated by competing websites and apps which have millions of users per month and have IPO’d valuations of as high as $5 million [CRUNCHBASE 2018]. The growing cannabis industry has created a platform where cannabis culture is being legitimized in popular media and marijuana users are becoming more and more open about their cannabis use and are looking for new communities to engage with, while at the same time marijuana brands are looking for new ways to reach their customers.
An Established Online Cannabis Community
420Smokers.us is an online cannabis brand founded by the creators of Smoke Network at a time when cryptocurrency and decentralized applications were still a relatively new concept and no blockchain existed that could handle enough transactions per second to pull off a decentralized social network. Since then the 420Smokers fan base has grown to over 500 000 passionate cannabis users [FACEBOOK 2017] and blockchain technology has evolved to allow our vision to come to reality. Being well-attuned to the wants and needs of real-world stoners, we feel capable of driving adoption of Smoke.Network beyond the scope of speculators and crypto traders
The Rise of Steem
In 2016 the Steem blockchain was launched and distributed $1.3 million dollars to its users [Bitcoin.com 2016] only months after launching. Since then its most popular website front-end has grown to become one of the top 500 highest traffic websites in the US and one of the top 1500 most popular websites in the world [ALEXA 2017] serving millions of pages of content per day. The popularity of the Steem platform has proved the demand for rewards based on social networks on the global market.
Smoke Network is Born
After our first ICO in August 2017, we built an alpha version of the Smoke Network application running on the Steem blockchain which rewards users in Steem for their posts. This demo is still running and received great reviews from the wider community. After this, we set out to improve this design in our beta application. To see our current roadmap click here. As cannabis gains mainstream acceptance Smoke Network will position itself as the go-to tool for cannabis-related social media, strain reviews, dispensary reviews, grow journals, peer-to-peer cannabis related transactions and highquality cannabis related content.
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