Ongoing Product Developments
Development of the Platform for Certificates of Authenticity of Laboratory Analyses
Currently, our focus is on the development of the portal for certificates of analysis. This blockchain-based portal for CBD and cannabis products will store laboratory analyses in the blockchain and issue certificates of authenticity. These authenticity credentials will be used by CBD and cannabis providers to prove the authenticity of these lab analyses to customers and business partners. A comprehensive business model has been specifically developed for the portal and various opportunities have been incorporated to generate revenue. These revenues, as defined in the white paper, will be used for business field development and expansion and may also be used for buybacks. Although the portal (name and brand to be announced soon) is just one of many projects and products of our company, it can compete with large companies and portals from this segment and is even more technically advanced. Currently, a team of 7 people is working on the content, systems and concepts.
Due to the long planning phase and the many experts on board, linking the system to the blockchain as well as the rest of the portal implementation is not a problem for us. However, we have obtained additional external advice from a management consultancy to carry out the concrete expansion of the portal to include cannabis products. Thus, the portal will not only focus on CBD products, but also directly (independent of the legalization in Germany) on cannabis products containing THC. We were able to complete the legal safeguarding for this in November 2022. The portal will be activated for initial beta testing as planned in the first quarter of 2023 and will then go live.
Negotiations with potential Partners of the Platform for Certificates of Authenticity of Laboratory Analyses.
In parallel to the development, we are already in this early phase in contact with numerous major CBD and cannabis brands, with laboratories from all over the world as well as with potential investors for this project. Even before the beta phase, we will have the opportunity to attract many CBD brands and also global cannabis producers as users of our portal. We will announce all information and details about the pricing policy before the beta phase. In order to better understand the target group and the needs of the market, we are also conducting a global survey to optimize our portal based on these findings. We will also use these insights in our communication and acquisition efforts, especially to highlight the needs in the market.
CBSL Marketplace will also enable trading of NFTs
In addition, our “CBSL Marketplace” is also under active development. We will announce more details about the content and components of the CBSL Marketplace in the coming months. We are also in discussions with industry partners for the marketplace in parallel with its development. Again, we have obtained legal support and plan to open the CBSL Marketplace to THC-containing cannabis products right from the start, should it be legally unobjectionable in the users’ respective countries. In addition, the CBSL Marketplace will offer the possibility to trade NFT’s. A dedicated section in the CBSL Marketplace will allow listing of NFT’s, which can be not only from CBD and cannabis, but also more general. There will be no restrictions here. The decentralized character of the marketplace will thus be noticeably strengthened by NFT trading. More details about the CBSL Marketplace will be announced in the coming months.
Launch of E-commerce projects coming soon
As defined in the whitepaper and roadmap, we are currently working on e-commerce projects for the Europe and North America regions. Development for these projects is currently in full swing and will be completed in the next few months. The product groups that will represent the assortment of the stores have already been determined and negotiations with wholesalers are currently taking place. The branding and domains for the stores have also been determined and will be announced shortly. For CBSL token holders we will provide special conditions in the respective e-commerce projects. This means that we will provide CBSL holders with vouchers and special access in the projects so that they receive additional benefits. We will launch the designated stores later this year, and in parallel, we will conduct a global marketing campaign to increase awareness of the stores.
CBSL Token and the current Crypto Market Situation
We are watching the events on the crypto market quite closely and are pleased that the CBSL token is able to maintain the current price stability. This confirms our long-term strategy of making the token scarcer and creating additional use cases. With the first product launches, the CBSL token will deliver real value to the market and increase its own value as the usage of the systems increases. This is among the reasons why we are not using the CBSL as a means of payment for marketing activities or partnerships, so as not to increase the token’s circulation. In addition, we have contracted an agency to handle market making for BitForex in order to free up our internal team and shift them into active product development. This allows us to focus on the development of our systems (despite additional costs) and still control the market activity.
Innovations in our company
Our company is still actively developing our systems and is currently looking for new employees. We have already hired two new interns who will not only assist us in maintaining our online community (social media), but also help with operational activities in the office. We will be posting more job openings soon, especially for software development and graphics personnel. In addition, our CEO Christian Tonn has conducted several interviews with different media (read the interview with bitcourier), one of which has already been published. Further interviews and PR appointments are still pending and will take place in the near future. Overall, we are in the green with all plans and can keep our roadmap for Q4 (as of today).