EDIT: Since writing this article I have received messages from the reddit community pointing to https://www.reddit.com/r/CryptoCurrency/comments/6w7wzs/biggest_crypto_scam_going_on_right_now/

Please decide for yourself after reading all the information.

My Views:

Today I am going to go over the Paragon Coin, which is an incorporation of blockchain technology with the Cannabis industry in the United States.

Although this is my first review here on Medium, I want to direct your attention instead to how important this project is and why it’s crucial that you pay attention to the truth around this subject rather than some of the rumors that are floating around in the online world.

I believe that it’s a great idea to use Paragon(PRG) tokens to facilitate trade between different entrepreneurs and businesses in the Cannabis industry. While Paragon is not the first one to utilize the blockchain technology in this space, its competition, like PotCoin (which is really just a rehashing of litecoin) doesn’t offer any functionality or solutions for the Cannabis industry and are only traded on exchanges, like a lot of the other useless coins in my opinion.

According to me, what makes Paragons value proposition unique is that they offer a solution for the entire ecosystem surrounding cannabis. They do make it very clear in their whitepaper that Paragon will not be used for buying or selling cannabis which is illegal.

The Major Problems and How Paragon is Solving them

Most people in the world believe that Cannabis is dangerous, a gateway to other, lethal drugs. This is why it’s so essential that transparency is brought to this industry, whether in the form of supply chain tracking from seeds to sale, lab testing results verification, b2b payments etc.

B2b payments here are really important. Currently paying for services is only possible with cash as businesses related to cannabis are not allowed to officially have a bank account. This makes it difficult for businesses to pay for lawyers, marketing agencies, PR agencies, workers or for the equipment they need to operate. The only possible way to get an operation up and running right now is with cash, which is neither safe nor convenient. This is why Paragon is asking for these businesses to adopt a PRG payment system as an answer to the industry’s current problems.

Another major problem Paragon tackles in the cannabis ecosystem is that of coworking spaces. From my personal experiences, it is extremely difficult and expensive to rent or lease offices if you are in a cannabis related business.

Paragon addresses this by buying real estate and making coworking spaces available for the industry. Furthermore, all rent and transactions at these spaces, which will be equipped with labs, lawyers, and public relation representatives, can be paid for using PRG.

Lastly, Paragon intends on starting a social network of cannabis startups which will be a community, similar to Reddit and Steemit, which will allow members to upvote different projects, all of which can also . be funded by PRG.

Current Issues Paragon Is Facing

There have been multiple posts claiming that Paragon is a scam and that the team will not be able to achieve any of their goals. However, during my personal interaction with the team I have come to the conclusion that it is anything but a scam. In my opinion, they seem to have a professional team with a solid, reputable background in this niche space. Jess, the CEO has been working on a cannabis based company called AUBOX, so I totally see that being motivation for this project. I spoke to Egor personally and he detailed the progress of the project for me. If you are on the fence about making a decision to support Paragon or not, then I highly recommend visiting their telegram channel so that you can get any questions answered.

From my point of view, the biggest selling point about the project is that The Game, who runs several of his own cannabis ventures, is working along with the team. I am sure he wouldn’t be personally involved with this, if it was anything close to a scam. Almost all crypto projects go through some form of FUD or fake info, hence I would highly recommend you do your own research and talk to the team instead of believing anything online.

Final Thoughts:

Overall, this project is exciting because it is innovating a new space by combining two new, very young industries: Crypto and Cannabis. Paragon wants to create a ledger for all the industry related data and offer payment for industry related services and supplies using ParagonCoin. If they are able to deliver what they promise, then I can only imagine this will be the future of how cannabis companies and businesses operate.

Currently a PRG sells for 1$ and with 100 million tokens being sold I can imagine this to be easily worth a lot more when they actually deliver on some of the targets in their timeline. If you do wish to read up on the project and their white paper then you can check out their website.