Nuvus.io and its Imminent Impact on the Cryptocurrency Market
Since last year, Initial Coin Offerings (also known as ICO’s) have been making a pivotal impact on the cryptocurrency market. ICO refers to an unregulated way of raising fund for a new cryptocurrency. Among several ICO’s that are about to be launched in the coming months of this year, Nuvus.io is considered one of the most promising ICO’s that can be converted into a legitimate cryptocurrency later on. As the usage of cannabis for medical purposes is increasing day by day in countries like the United States, the introduction of an ICO that would control the global cannabis industry is likely to create a significant impression on the overall market.
Nuvus.io or simply known as Nuvus blockchain is an Initial Coin Offering that is specifically built as a global exchange platform for data regarding medical cannabis industry. The main objective of this ICO is to provide a secure and efficient system that will take care of the factors like industry-wide global exchanges of products and services, trust platforms for the agricultural industry with a specific concentration on the cannabis industry and production, and verification of the supply chain by using a foolproof decentralised ledger technology. Through this system, Nuvus.io aims to create an impregnable verification and monitoring system for all business transactions made in the cannabis industry while providing processors, growers, distributors, and retailers complete transparency.
The initial idea about this new ICO was first coined by a corporation of similar name, Nuvus Corp. This year, they are about to commence a token presale shortly making the launch of this initial coin offering official. Although they still haven’t announced a definite date yet, they have mentioned the duration of this token sale which is sixty days.
The Blockchain Technology behind Nuvus.io:
Nuvus.io would be based on an ingenious distributed ledger technology that is capable of generating a big data and supply chain verification system. The principal objective of this technology is to create an impenetrable verification system devoid of trust. From seeding to processing and distributing, this blockchain technology can offer a verification system in every possible step so that the factors like potential benefit, effects on human life, repercussions, etc are ascertained and taken care of.
The key features of this distributive ledger technology would include:
- A transparent verification system that will closely monitor all the transactions made globally within the cannabis industry and thus making the entire system secure from hack attacks and malicious websites.
- Because of the distributed nature of this open source platform, every user across the globe will be allowed to access this ICO for the distribution of cannabis. The ledger will hold data from all possible addresses in a secure location.
- Nuvus is partnered with several master growers, renowned doctors, universities, and governmental organisations. As a result, the patients in need of medical treatment based on marijuana would get the best possible prescription of medications.
- Nuvus has designed a Global Exchange Token (GET) with the help of an enterprise grade blockchain technology known as hyperledger.org. This token is actually a proprietary ERC-20 token that is majorly used for both quantitative and qualitative validation of data collection, analytics related to supply chain figures, and process flow. This will allow the patients to cite their feedback about the medicinal cannabis they are taking.
- The technology of Nuvus.io would be compatible to operating systems supported by smartphones, desktops, laptops, tabs etc. This accounts for the convenience and accessibility of this ICO from variable locations.
- This technology has the potential to add billions of data from every possible part around the world because of its immutable nature. As a result, Nuvus.io could become ubiquitous across all industries and could be used for revolutionary medical researches and proper diagnosis of patients based on cannabis. This is likely to add considerable value to the global industry’s supply chain.
The Data Collection Capability
The data collection ability of Nuvus ICO comes with the following features:
- Data management: Properly managing the huge pool of data according to their nature, source, and application. This feature helps in properly categorising every piece of the data so that they can be accessed any time.
- Energy management: Because of the fast and efficient nature of its technology and corresponding Nuvus protocol, the data collection process of Nuvus.io is capable saving a significant amount of energy.
- Analytics: The data collection of Nuvus.io is responsible for precise analysis of the collected pool of data to ensure proper diagnosis of the patients and their treatment based on medicinal cannabis.
- Fault detection: One of the most important features of this data collection process is the fault detection. This ensures the accuracy and precision of the collected data through an infallible verification system.
Although the basic nature of the cryptocurrency market is extremely volatile and the future of any ICO cannot be foreseen accurately, Nuvus.io is likely to become popular in the market because of the following reasons:
- The demand of medical marijuana: With the unveiling of the latest medical experiments, marijuana or cannabis has been proven to be extremely relevant in case of accurate diagnosing and palliating certain diseases. As a result, the demand of medicinal cannabis is showing a steady escalation and would continue to do so over the coming years. Hence, Nuvus.io should be extremely useful for the patients in need of medical treatment based on this product.
- Partnership:io is partnered with efficient growers, doctors, and governmental institutions capable of understanding the medical and cognate regulatory matters regarding the trading and distribution of cannabis. As a result, with the help of this ICO, the patients are likely to get the best possible treatment.
- User-friendly platform: The platform of Nuvus.io is going to be extremely user-friendly and quite easily accessible from any part of the world at any time because it is based on a distributive ledger technology. Consequently, people would find this ICO more convenient than other fiat currencies.
- Security and supply chain: The transaction system with this ICO will be meticulously monitored and secure from potential hackers which will encourage more people to incline towards this initial coin offering. Besides, Nuvus.io would make the supply chain of medicinal cannabis more efficient.
The Brains Behind
The core team of Nuvus.io consists of members like Sam Talari, Alan Mathon, Olga Krynina, Bobban Subhadra, Dierdre Fernanades, Terry N. Gardner, and John Verghese. Overall, this team has nearly 25 years of invaluable experience under its belt of working in a cannabis industry producing award winning and the most sophisticated products. Together, this group of people have achieved several remarkable feats like designing world’s first cannabis personal test kits, first use of big data analysis for this industry, agriculture automation technology, AI for various small and large facilities, and many more.
Nuvus Corp is to launch their ICO Nuvus.io in the first week of February, 2018. According to the speculation of the traders and the published whitepaper of this ICO, they are anticipating a token sale of nearly 200 million tokens which would raise circa $100 million.
DISCLAIMER: Opinions expressed by Coinschedule Blog contributors are their own.