Tokken

This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these messages)

This article is an orphan, as no other articles link to it. Please introduce links to this page from related articles; try the Find link tool for suggestions. (September 2023)

|

The topic of this article may not meet Wikipedia's notability guidelines for companies and organizations. Please help to demonstrate the notability of the topic by citing reliable secondary sources that are independent of the topic and provide significant coverage of it beyond a mere trivial mention. If notability cannot be shown, the article is likely to be merged, redirected, or deleted.
Find sources: "Tokken" – news · newspapers · books · scholar · JSTOR (January 2019) (Learn how and when to remove this message)

|

(Learn how and when to remove this message)

Tokken is a payment system and mobile app most known for being a legal and secure option for businesses transactions within the cannabis industry, because of its compliance with bank requirements.[1][2] The startup company was created by Lamine Zarrad, a former regulator at the Office of the Comptroller of the Currency.[3][4]

## Operability

[edit]

In order for a person to start using the app, they need to provide evidence, in the form of bioidentification data and mobile carrier records, that they can legally purchase weed. After they have been verified, customers can pay directly through the app at any dispensary that is using Tokken.[5]

Tokken turns credit card transactions into a digital token, which can be exchanged back for money that can later be deposited into a bank account. All transactions are logged publicly through a blockchain leger, making the process both anonymous and verified.[6]

### Banking services

[edit]

Tokken has a "pay taxes" function which enables dispensaries to pay their taxes directly to the department.[7]

## References

[edit]

1. ^ "Marijuana Startups Like Tokken Aim To Provide The Cannabis Industry With Banking Services, But Will Legal Shifts Put Them Out Of Business?". International Business Times. 2016-04-07. Retrieved 2018-04-06.
2. ^ "Potchain 1.0: Why the Legal Weed Industry Is Embracing Blockchain". PCMAG. Retrieved 2018-04-06.
3. ^ Castillo, Michelle (2017-03-15). "This start-up is building a bridge between banks and legal marijuana sellers". CNBC. Retrieved 2018-04-06.
4. ^ "'Will That Be Cash or Cryptocurrency?'—the Marijuana Business on Blockchains". Observer. 2017-09-14. Retrieved 2018-04-06.
5. ^ III, Nathaniel Rateliff, Joseph Pope (2019-08-20). "Op-Ed: Nathaniel Rateliff on Why His Band is Joining the Weed Biz". Westword. Retrieved 2019-08-20.`{{cite web}}`: CS1 maint: multiple names: authors list (link)
6. ^ Castillo, Michelle (2017-03-15). "This start-up is building a bridge between banks and legal marijuana sellers". CNBC. Retrieved 2019-08-20.
7. ^ Simmons, Kate McKee (2017-02-07). "Tokken's App Helps Solve the Marijuana Banking Block". Westword. Retrieved 2019-08-20.

This Cannabis-related article is a stub. You can help Wikipedia by expanding it.

|

* v
* t
* e

*[v]: View this template
*[t]: Discuss this template
*[e]: Edit this template