One of the interesting concepts that caught my attention over the past days it’s Riptide – the Medical Marijuana Token. Maybe it doesn’t sound too interesting for you, but as a fan of cryptocurrency & Marijuana I’m really glad that people are working in this field.
Riptide stands only as a proof of concept right now. The Token – RIPT – has the main purpose of helping people purchase Medical Marijuana easier. The Medical Marijuana industry still has a few problems. Even though it is legal, it doesn’t have access to FDIC banking. It’s one of the only industries if not the only one that worth billions per year but don’t have access to FDIC. Riptide wants to try and change it and introduce a new way people could pay for it without FIAT currency, without having problems with debit or credit cards because of the conflicting laws around marijuana.
Riptide project is backed by the largest Mobile Medical Marijuana Dispensary in Norther California. They will use the RIPT token as a way of paying for the medical marijuana and if the team will work further on the project – it’s only a small step until RIPT will be introduced in all the medical marijuana dispensaries. Right now, over 1 billion dollars in cash is exchanged per year in the medical marijuana industry – with the figure expecting to double by 2020.
As some benefits, Riptide Tokens will be accessible to everyone which has access to the internet. The transaction will be confirmed in a 3 seconds or less, being faster than if you’d pay with cash. Also, the fees will be way lower than if you’d be using a credit card while also having a better system from the security point of view.
But for these alpha project to be launched, the Riptide team needs people’s help. Therefore, they created a pre-sale and an ICO. The pre-sale will be open to the public for 7 days and has the following structure:
- September 24th – 75% buy bonus
- September 25th – 50% buy bonus
- September 26th – 50% buy bonus
- September 27th – 25% buy bonus
- September 28th – 25% buy bonus
- September 29th – 20% buy bonus
- September 30th – 15% buy bonus and last day of pre-sale
The buy bonus represents bonus RIPT tokens according to how many you’ve purchased. This is probably the easiest way to purchase RIPT token at a low price and keep it for personal use or sell it 3-4x times in the future. If you miss this, be sure you won’t miss their ICO. Their ICO will take place between Oct 1st and Oct 31st, 2017 and will be the last chance to obtain RIPT before it will be listed to an exchange.
In conclusion, Riptide is a cryptocurrency that is focusing on booming industry and which will have a use in the future if their team will work properly on in and will make sure that every medical marijuana user will know what Riptide is. If you want to support them in other ways besides investing, you may check their social pages :