BlockTalks x Quannabu AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Quannabu, on May 16th at 11.00 AM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Chris Smith, Director of Quannabu, Anthony Smith, Director of Quannabu, and the rest of QuannabuTeam. So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce Quannabu to our community in layman’s term?
Ans — Quannabu will revolutionize the CBD industry with the combined use of our blockchain trust platform, verified payments facilities and cutting-edge CBD testing and growing facilities.
The QuannabuTrust platform will utilize the undisputable nature of blockchain technology to create a transparent and trustworthy CBD supply chain...
Open access to certified supply chain data will increase visibility and empower consumers, retailers, manufacturers, suppliers, and everyone in between with confidence and trust in the companies they purchase and consume products from.
Essentially QuannabuTrust will use transparency to build trust, ensuring that transparency enables the long-term growth and sustainability of the expanding CBD industry.
This goes hand in hand with QuannabuPay, a frictionless blockchain payments platform where businesses and consumers can quickly and easily transfer verified funds.
The implementation of Quannabu tokens (QBU) is the logical solution to a market experiencing ongoing regulation changes. It readily solves the current banking and payment issues, a major factor impeding the potential market growth.
While previous attempts have been made to advance the CBD industry with blockchain technologies, they lacked the physical infrastructure required to improve the entire ecosystem...
We are custom building a cutting-edge CBD manufacturing and testing laboratory capable of offering unrivaled assurances and certifications...
Quannabu is the only operation in the world dedicated to improving the complete scope of CBD-related activities both on and above the blockchain level.
The need for financial freedom is greater than ever, and the scale of growth in the crypto space within the last few years shows the move away from fiat is not slowing down...
The CBD industry is still in its early stage, with scientific research only recently highlighting the health benefits of hemp. So far government policy has been lacking on the subject, and we hope to speed up that process whilst offering solutions to the problems faced by the CBD world today.
Q2. What are the advantages of Quannabu to other alternatives in the Blockchain field?
Ans — The Quannabu token sale will be performed on the Ethereum blockchain for ease of integration into current exchanges.
We are custom building the Quannabu blockchain to meet the requirements of the CBD industry and keep the transaction fees low.
QBU token holders will be able to convert their Ethereum tokens to native QBU tokens on launch.
Ethereum is the perfect launchpad for Quannabu.
QBU coins as an asset will quickly and easily be bought or sold without having much effect on its price as the demand for it is real and it’s very high.
As I mentioned earlier the demand already for our coin, not from investors, but from CBD companies across the globe, that need to use it right now means the transaction rate will be high and see continuous growth.
Regulations towards CBD and other hemp-based products are rapidly being applied all over the globe to make CBD available and safe. The industry is in an early stage but the growth is already massive and will be exponential for years to come.
Many participants up and down the CBD supply chain will naturally keep most of their financial assets as QBU tokens as opposed to cash as they will both accept and use Quannabu to move goods up the chain. Whether to purchase raw hemp biomass, transport across borders, manufacture oil, test products, or take to retail, QBU will remain as QBU for much of the journey.
More than anything the CBD industry needs a quick and easy way to transfer verified funds, this demand is current and it is huge!
Q3. What are the major milestones Quannabu achieved so far & what are in the future pipeline?
Ans — The biggest achievement so far is bringing this project to light!
It’s new for the community but we the founders it’s been a very long time in the making.
We have combined years of research with countless meetings with key industry players to make sure we’ve left no stone unturned, making sure there’s a genuine need for our coins and we have the full support of the industry.
They are literally crying out for a blockchain solution to solve the tracing/tracking and banking problems and we’ve delayed the launch many times to ensure our initiatives meet their goals.
You will see a lot more about Quannabu within the next 6 months.
You’ll see the development of our blockchain through QuannabuPay, and the QBU coins being used as payments.
QuannabuTrust will utilities the transparent nature of blockchain technology to offer an insight into supply chain data, to build trust between members of our growing communities.
Our first lab is close to end of the design phase and production of the lab will beging within the next 3 months.
Through QuannabuGrow, we will have our first harvest which will in turn produce mass levels of high purity CBD products, this will then be available on the market.
These are exciting times for both us and our community!
Questions Asked on Twitter For Quannabu Team!
Q1. Could you tell us a little more about Quannabu Pay? Really why implement this payment platform, when buying CBD with traditional means of payment is much easier?
Ans — Buying hemp-related products through traditional banking methods can be a very long process, with numerous payments held up, therefore holding up the shipping.
I agree the end-user buying one or two bottles does not normally have this issue, it’s more of a commercial problem, however, the end-user would be paying more for their product due to the manufacturer having to increase prices to deal with the delays.
We intend to clear this banking issue from the start, bringing the consumer a truly priced product.
Q2. Most banks are scared to facilitate transactions for hemp-derived goods due to unclear regulations thereby making it difficult to for people to make payments. How does Quannabu intends to address this pain-point and help facilitate payment for CBD products?
Ans — You’re absolutely right. Banks can not be sure of the product they are allowing the company to purchase.
With our blockchain, we will know exactly what we can and can’t facilitate in seconds, not weeks.
This is what will speed up the whole process.
Q3. It saddens my heart to see that the emergence of meme coins has made the market to become unstable,this coins have no actual function, what they do is to leave investors broke and bankrupt. Hope this is not the same case with Quannabu? In what ways could your products be useful and have an impact in real life?
Ans — It’s a shame that a market can be manipulated into these coins, but with any nature of business these days there is always someone trying to sneak in.
Our QBU token is a real world transactional currency.
It will facilitate payments between farms/shipping/labs/bottling/shops, the whole process of hemp-derived business.
Streamlining the current drawn-out processes.
Q4. I was reading that Quannabu is custom building a state-of-the-art CBD testing and manufacturing lab. Can you tell us a little more about this lab? What function does it serve and what is the importance? Would it help improve the Quannabu ecosystem and why?
Ans — The importance of having our own lab and testing facilities is for us to push to be the leading stamp of approval in the CBD market.
Being able to test products that come through us is critical for Quannabu to be able to safely say they are what they claim to be.
Once a product has the Quannabu stamp, the consumer will know it’s trustworthy.
Q5. How do you provide the physical infrastructure needed to improve the CBD industry in Quannabu labs? In which countries does the Quannabu production and testing laboratory operate CBD activities?
Ans — Quannabu fully intends to offer a global service.
We will take the knowledge and experience gained from our first CBD manufacturing and testing laboratory to replicate facilities accross the European continent and onto worldwide, always custom building and redesiging to suit the rules and regulations in any given territory.
You’ll see the further development of our blockchain platform through QuannabuPay, with the QBU coins being used as payment for products and services.
Having only recently annouce our project we have received very keen interest and support from all over the globe, I now beleive it will expend even quicker than we anticipated! This is a very exciting time for the whole Quannabu community!
Questions Asked by our BlockTalks Community Members during live Session to Quannabu Team!!
Q1. What does Quannabu means? I wonder where you got the inspiration of this name.
Ans — Quannabu is one of the most ancient words for hemp, one of the first ever recorded!
Q2. Could you tell us a little more about your QBU tokens? Could you give us details of its distribution, its usefulness and when will you carry out your IDO and on what platform?
Ans — Our launch starts tomorrow and being listed on 3 exchanges
1. LATOKEN
2. EXMARKETS
3. AVENCIA DIGITAL
Our usefulness is to allow quick, streamline, easy payments to go through that will allow the CBD industry to interact together and building a transparent market. This will make it easier for the CBD industry yo grow without the banks stopping payments.
Q3. Could you tell us a little more about your QBU tokens? Could you give us details of its distribution, its usefulness and when will you carry out your IDO and on what platform?
Ans — Our offering is currently set for selling one QBU token at $1, with a small supply and the growing popularity of our project within the industry it’s inevitable that the price will rise.
With extensive research showing we could top $100.
Our total supply will be 30m, with just 15m being released onto the market on our launch date, Monday the 17th May.
We were keen to keep the total supply low and only raise as much as we need to launch our Quannabu initiatives. By only raising a capped amount we give the coin every possible chance to go up in value.
The demand will outweigh the supply so we expect the price of QBU to increase so more products can be bought and sold for the same amount of QBU coins, but the value per QBU coin will be worth a lot more.
The CBD insusty was valued at USD 2.8 billion in 2020 and with revenues expected to reach USD 13.4 billion by 2028. Since we started releasing information about our coin a few weeks back the responce for QuannabuPay has been overwhealming and many industry players genuily need our coins to hold and transfer funds. If only a small percentage of this industries transactions go via QBU the value and update will be huge.
The 15M remaining supply will be held for strategic use to support the blockchain and CBD industry as a whole. The key is to support the health of the CBD market on every level.
Q4. In the market there is currently no reliable way to know if the CBD that is being purchased is 100% what it promises, so I would like to know, how will you demonstrate to users that the CBD that will come out of Quannabu will not be a fraud?
Ans — The key to unlocking the full potential of the CBD industry is providing an open and trustworthy supply chain. Policymakers across the globe simply can’t regulate a product they can’t track. The QuannabuTrust platform will address these regulatory concerns of policymakers in different regions, leveraging our blockchain technology as a solution to enable transparency within the complex CBD supply chain.
Q5. Can you list 1-2 deadly traits that make Quannabu stand out from the competition? What competitive advantage does your platform have that make you feel most confident in yourself?
Ans — QuannabuTrust will utilize the undisputable nature of blockchain technology to create a transparent and trustworthy CBD supply chain.
Open access to certified supply chain data will increase visibility, empowering consumers, retailers, manufacturers, suppliers, and everyone in between with confidence and trust in the companies they purchase and consume products from.
An open and transparent supply chain will enable the long-term growth and sustainability of the expanding CBD market.
You’ll see the further development of our blockchain platform through QuannabuPay, with the QBU coins being used as payment for products and services. Users who wish to purchase CBD products and testing services from QuannabuLabs directly will be offered a highly discounted rate when using QBU. This is one of our many initiatives to make sure QBU tokens are value-backed from the outset.
The whole process is followed via the blockchain to offer clients and end-users unrivaled confidence in the product they ultimately end up with.
Q6. As a leader of CBD and Blockchain technology,how will Quannabu maintain it’s spot in the market? As many platforms also describe themselves to be a leading industry of CBD products,how will Quannabu prove to be that they are the leader and can be trusted and believable?
Ans — We provide a very real and physical trust element to our investors as they can see we are building for the long term, solving real-world problems with physical goals and initiatives.
Our product is multifaceted and has various uses in real life, such as offering an insight into supply chain data to track the journey of CBD products, or by testing and offering online certificates for CBD products.
We’re also providing much-needed payment services and are establishing our own growing operations. Quannabu isn’t solely based on the blockchain and that’s what makes all of the difference.
Q7. Regarding your Quannabu Laboratories platform, will you really create new laboratories that carry out new CBD studies? Or will they simply support recognized laboratories to develop further?
Ans — We are in the final design stages for our first custom-built CBD manufacturing and testing facility. Actual production of the lab will begin within a few months. We have already selected a secure premises which is inline with all government guidlines and our lab is being designed and implemented by InterFocus, one of the UK leaders in providing medical-grade laboratories. Every single aspect of the lab has been designed to match the most stringent regulations to be GMP, HMRA and Novel Foods certified, with scope to adapt to future regulations.
Q8. What advantages did Quannabu have that others didn’t have, that made us choose Quannabu?
Ans — The problems that Quannabu aims to solve are the ones surrounding payment issues within the CBD industry, and the worries consumers have with the purity of CBD products.
Due to differing regulations surrounding CBD in the various jurisdictions of countries, it means its difficult to transfer funds for CBD through fiat. By being able to purchase products through our dedicated token, QBU, plugs the gap.
Regarding the issue of trust around CBD products, Quannabu will solve this by utilising the transparent nature of blockchain to offer an open and trustworthy supply chain. Consumers will have access to supply chain data so they can track the journey of their product from the seed to the shelf! This will in turn garner trust in CBD producers as their consumers will know the exact purity of their product, and it solves the ethical issues people may have surrounding CBD.
This year is all about consolidating Quannabu within the crypto and CBD markets, were moving into the production stages of building our state-of-the-art testing laboratory, and we want to increase our social presence too.
The next year is about progressing with the development of our four key components; QuannabuTrust, QuannabuPay, QuannabuLabs + QuannabuGrow.
Through our raise, beginning on Monday the 17th May, we aim to secure the funds needed to begin the process of making Quannabu a leader in the development of modern technologies in the CBD and blockchain sectors.
Q9. The high transaction fees on the ethereum network are not currently favored by investors. How do you solve this problem? what is the biggest reason you chose to build Quannabu on the Ethereum Blockchain network?
Ans — The Quannabu token sale will be performed on the Ethereum blockchain for ease of integration into current exchanges.
We are custom building the Quannabu blockchain to meet the requirements of the CBD industry and keep the transaction fees low...
QBU token holders will be able to convert their Ethereum tokens to native QBU tokens on launch.
Ethereum is the perfect launchpad for Quannabu.
Here are some important links of Quannabu👇
🌎 Website: https://quannabu.com/
📱 Twitter: https://twitter.com/QuannabuPay
📢 Telegram: https://t.me/Quannabu
📚 Whitepaper: https://quannabu.com/docs/Quannabu-Whitepaper.pdf
