Paragon (PRG) is a cryptocurrency that just finished it’s ICO and has newly hit the cryptocurrency market.
In less than 12 hours, PRG hit growths of over 1,111 percent. At press-time it is currently trading at $.91 down from its record high of $4.12 reached at 13:19:49 UTC. The coin hit the market on October 26th, 2017 with its initial sale price of $1.89.
Paragon is a startup blockchain technology company focused on the growing cannabis industry. The tech entrepreneur, former Ms. Iowa, and founder, Jessica Versteeg, has seen first hand how broken the current cannabis system is. 20 states, around the U.S, have now passed regulations on medicinal and recreational marijuana use. The founder learned first-hand how cannabis can be used medicinally for pain management, instead of the traditional opioid method.
Versteeg’s Super Bowl-winning boyfriend died from an opioid addiction due to constant pain he endured from his life as a professional football player. When her boyfriend continuously asked to use it for pain management she was against it. She viewed cannabis as dangerous but viewed narcotics as 100% safe. At the time, she wasn’t aware of the drug addiction her boyfriend had and after his death, she started researching the use of cannabis for pain management.
What she ran into started her whole blockchain adventure. She found legal cannabis to be unregulated, fragmented and broken. Versteeg views blockchain technology as something that has already disrupted many sectors and hopes that her company can use the technology to be the vehicle that pushes this revolution even more mainstream.
Paragon uses the blockchain to store data from the seed-to-sell, with data collected including fertilizers used and to water quality. This ledger can be checked by anyone to ensure standards and quality. The blockchain technology company chose the coin route to solve the problem with acquiring funding in an industry that is unregulated and currently not accepted federally.
The cannabis industry is exploding lately alongside blockchain technology. Canada is set to pass laws that allow recreational marijuana use across the entire country by July of 2018. With the cannabis industry on the rise in North America, PRG is the altcoin to watch in the future.
Featured Image: twitter