Epazz is working with Greenheart CBD Hemp company in developing their smart contracts for their IEO (Initial Exchange Offering).
Epazz is a provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions.
The company will be enhancing their smart contract software to allow other organisations interested in launching their IEO using an easier way to create and modify their smart contracts without needing a programmer, according to a statement.
Blockchain a growing market
According to Carlos R.W. De Meijer, senior economist and researcher at De Meijer Independent Financial Services Advisory (MIFSA), the global blockchain market size will grow exponentially in 2021.
More businesses from many industries expressed increasing interest in using blockchain technology to advance their business processes.
The COVID-19 pandemic fast-tracked the digital transformation drive in many aspects, including distributed ledger or blockchain technology.
As a result, the global blockchain market size will expand from US$3 billion in 2020 to US$39.7 billion by 2025 at an effective compound annual growth rate (CAGR) of 67.3%.
Many industries are looking for solutions using blockchain technology as a beneficial tool to digitise their businesses.
The adoption of fintech and blockchain technology allows companies to upgrade and streamline operations.
In addition, the acceptance of tokenisation or the digital storage of assets on blockchain will speed up the progress of DeFi or decentralised financial services, the company states.
DeFi demonstrates the successful process of smart contracts for financial services. It is an alternative form of business financing that perfectly fits the parameter of the fintechisation of the economy.
DeFi services witnessed impressive growth this year and surpassed US$10 billion. It is expected to speed up in 2021 and beyond.
Epazz and Greeheart CBD Hemp
Epazz blockchain technology provider developed an IEO securitised token software using smart contracts to help Greenheart CBD Hemp company launch Greenheart Punt, as their liquid token to be used across their current and future range of CBD products.
This collaboration between Epazz blockchain technology and Greenheart CBD Hemp company is part of the growing 'DeFi' movement, which will take advantage of the blockchain's capacity to establish a decentralised ecosystem, uncontrolled by a single entity, and improved accessibility for token holders, the company states.
It will address the challenges of the lack of proper banking support for the CBD industry worldwide.
Epazz and Greenheart CBD Hemp company will initially offer 200 million Greenheart Punt tokens backed by1,000 Liters of Greenheart's CBD oil, with an approximate value of US$4 million.
The Greenheart Punt token began trading last December 1, 2020, through the LAToken mobile app. Investors can redeem their tokens for CBD oil if they wish.
The token will enable the holders to skip expensive payments and processing fees charged by traditional financial payment providers, the company states.
In the IEO sale, the company is offering 40 million Greenheart Punt tokens to accredited non-US investors.
With this premise, the company gears up to enter the Asian Token Exchange to accommodate Asian investors, especially in China.
From a regional perspective, China is leading the blockchain arena as China's government-sponsored Blockchain-Based Service (BBS) Network aims to make blockchain technology a vital part of its digital infrastructure.
China is on the verge of issuing its Crypto yuan as part of its goal to provide a global public infrastructure through its BBS Network.
Epazz CEO and chairman Shaun Passley says, "As we enter 2021, adapting to the new normal lifestyle, maintaining social distancing and performing electronic payment transactions can further highlight the value of cryptocurrencies.
"However, with high liquidity in the crypto space, anything can happen; that's why our blockchain technology will help track and monitor the slightest change in the crypto movement to help users decide logically."