Leafbuyer Technologies, Inc. (OTC:LBUY) (“Leafbuyer” or “the Company”) announced today it launched Phase One of its multiphase blockchain initiative on December 20, 2018. This first phase integrates with the Company’s loyalty platform, Leafbuyer Loyalty. This launch creates the bridge for cannabis consumers to eventually complete monetary transactions electronically with dispensaries and product companies.
Leafbuyer Launches Blockchain for the Cannabis Industry
Now, within the Leafbuyer Loyalty application, consumers can choose to create their own blockchain wallet, called the Leafbuyer Wallet. Immediately, when a consumer creates a Leafbuyer Wallet account at a participating dispensary, a link is sent through SMS to their mobile device. Through this link, the consumer can view their account, track all transaction history, and see their loyalty points. Leafbuyer Wallet consumers can visit their account at any time through their smartphone without needing to be onsite at a participating dispensary.
“This first step in our blockchain initiative lays the groundwork for Leafbuyer to utilize blockchain and cryptocurrencies in our business plans,” said Leafbuyer CTO Michael Goerner.
Blockchain allows for a digitized, decentralized, secure environment in which transactions are made and information is stored in a verifiable, permanent way. This leading, anti-fraud technology supports Leafbuyer’s initiative to provide transparency with its customers and consumers.
“The sky is the limit with blockchain,” said Leafbuyer CEO Kurt Rossner. “The technology will help shape the cannabis industry and open doors to new revenue possibilities for Leafbuyer. We want to offer the highest level of transparency with customers, and blockchain will help us accomplish this goal.”
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