The CHEX, Inc. DBA Commodity & Holdings Exchange (CHEX) and Cannabis Hemp Exchange (CHEX) has begun its token sale via the Ethereum blockchain to power a decentralized cannabis exchange. The company is aiming to be a catalyst for solutions to best practice adoption in the Cannabis industry with respect to exchange standardization, regional product classification consistency, and sensible quality control standards – the lack of which adversely affects the well-being of consumers and medical patients.
The CHEX is a technology company that powers online B2B distribution of traditional commodity and finished products and also operates in the legal Cannabis industry. Modern cross-platform software solutions are customized for the supply chain business and regulatory needs of producers, distributors, retailers, and brands.
For maturing market needs, CHEX is looking to integrate private client platforms to ‘push’ excess inventory supply to seed public exchange platforms that CHEX will host on regional levels, and match with demand in increasingly anticipated buyer markets; allowing programmatic transition to centralized marketplace adoption that supports complete market information, increased business connections and universal exchange standards.
Eugene Lopin, Founder & CEO of The CHEX, Inc. said:
“We are ready to demonstrate our platform’s value, and chose the nascent and fastest growing Cannabis industry as the entry point, in part due to the infancy of its regulatory environment. This gave us, as a technology team, a fresh opportunity to innovate over established processes and inefficiencies common in other industries, and a chance to develop the correct protocol to standardize exchange for the most unique and nuanced commodity in the world.”
“This poses a major challenge and opportunity for an exchange to influence sensible trade standards that can benefit market price discovery, improve quality control, and lead to partnerships that solve industry problems such as the banking issues. Our team spent almost three years designing transactional solutions for Cannabis and general commodity and B2B product use cases. The CHEX token sale provides us a unique opportunity to inspire a progressive global community on how we can scale the benefits of the CHEX modular platform, blockchain and emerging technologies to upgrade commodity markets by making them more efficient, automated and trustless. Our goal is to secure a Proof of Concept in the Cannabis industry as a launching point for improving commodity and asset exchange frameworks in other sectors.”
The CHEX Platform began development Q3 2014 and on-boarded its first beta clients in Q2 2017.
More information can be found in the CHEX white paper.