Nezly Takes Cannabis to the Stellar Blockchain

By , in PR PR California on .
News Image

SAN FRANCISCO February 19, 2018

Nezly, the cannabis focused Canadian company, announced it will be launching their ICO (Initial Coin Offering), February 20, 2018 on the Stellar blockchain, and will be the first cannabis company to do so. The Nezly token (NEZ), will not be yet another single purpose cannabis cryptocurrency, but incorporated into an entire ecosystem built on blockchain for the cannabis industry. Nezly’s plans to bring about the much needed transparency, trust and market insight through blockchain and big data technology, has been in the works since July 2017.

CannaX, the Nezly cannabis marketplace exchange platform, will utilize the latest in blockchain cryptography with a focus on security and transparency. Nezly has forged a vast network of over 150 cannabis farmers in the United States and Canada, totaling over an estimated $500 million in cannabis with expansion plans already in the works.

There is a unique match between cryptocurrency and the cannabis industry. Both lie outside the field of conventional banking, with most cannabis transactions still being done in cash. The cannabis industry itself will reach a projected $55.8 billion by 2025 as per a report from Grand View Research. The transparency, decentralization and security offered through blockchain are well suited for the cannabis industry, and Nezly aims to leverage it for the maximum benefit of buyers and sellers and bring to the current landscape, greater transparency and trust.

“CannaX is our initiative to radically change the cannabis industry through embracing the trust and value blockchain technology offers. As part of the ecosystem, the new Nezly token (NEZ) is intended to not only bring about the benefits of secure remittance overcoming bank and credit card processing issues, but also for escrow validation within the CannaX marketplace,� said Steve Salve, CTO, Nezly.

The Nezly blockchain will also manage 160+ acres, zoned and permitted for cannabis growing, which the company is offering to cannabis farmers. As part of Nezly’s cannabis consulting services, their Farmers Assistance Program will help facilitate properly zoned and permitted growing facilities for licensed farmers looking to expand current growing operations and assist new farmers in getting started.

“Our goal is to cater to the grass roots farmer, and as a collective effort, meet the potential of large scale agricultural competitors. We feel by bringing in a network of micro-farmers, together and with the right facilities, we can potentially help deliver a safer and ultimately a better product than large scale agricultural competitors,” said Cory Kelly, CEO of Nezly.

The project will involve a $100 Million build out with state of the art facilities to ensure quality assurance requirements are kept to the highest standard. Every detail when it comes to grow cycles, lab results, distribution and sale will be securely documented and transparent on the Nezly blockchain.

Nezly currently works with licensed cannabis farmers to ensure every need is met, from land acquisition, growing facilities, farming equipment to seed to sale and marketplace blockchain technology. “Nezly lives up to its slogan, “Cannabis made easy� in a few different capacities, but farmers is where it all begins,� says Steve Salve CTO of Nezly. With the new facilities, Nezly is forecasting a $1 Billion contribution to the already thriving cannabis industry.

For more information, please visit:

The following two tabs change content below.
Sarah Thompson

Sarah Thompson

Sarah is a financial reporter, focusing on technology, national security, and policing. Before joining Daily Telescope she worked as a staff writer at Fast Company and spent two years as a foreign correspondent in Turkey. Her work has been published in Al Jazeera America, The Nation, Vice News, Motherboard, and many other outlets.
%d bloggers like this: