Paragon PGN Price

What is Paragon (PGN)?

Paragon (PGN) is a blockchain-based platform that aims to streamline and enhance the cannabis industry by providing a decentralized ecosystem for the management of various aspects related to cannabis, including production, distribution, and compliance. Launched in 2017, Paragon offers solutions to challenges faced by the cannabis sector, such as regulatory compliance, supply chain transparency, and payment processing. The platform leverages smart contracts and blockchain technology to ensure traceability, improve operational efficiency, and reduce costs for businesses involved in the cannabis industry.

Who are the Founders of Paragon?

Paragon was co-founded by Jessica VerSteeg, who is an entrepreneur and advocate for the cannabis industry, and other notable figures in the blockchain space. VerSteeg has a background in both business and entertainment, which she leveraged to promote the Paragon project. The founding team also includes blockchain engineers and industry experts who are dedicated to improving the cannabis supply chain through innovative technology.

How does Paragon Work?

Paragon operates on its own blockchain, allowing businesses in the cannabis sector to utilize decentralized applications (dApps) for various functions. The platform uses smart contracts to automate processes, ensuring that transactions are secure and transparent. Paragon facilitates operations like inventory management, compliance tracking, and payment processing through its native token, PGN. Users can earn PGN tokens by participating in the network, and these tokens can be used for transactions within the ecosystem or traded on various exchanges.

The platform's architecture enables secure data sharing among stakeholders, including growers, distributors, retailers, and regulators, thereby improving overall transparency and trust in the cannabis supply chain.

Top Use Cases of Paragon

• Supply Chain Management: Paragon enhances supply chain visibility by tracking cannabis products from cultivation to sale, ensuring compliance with regulations and quality standards.
• Payment Processing: The platform allows for secure, fast transactions using PGN tokens, facilitating payments between consumers and businesses in the cannabis industry.
• Regulatory Compliance: Paragon assists businesses in adhering to local and national regulations, reducing the risk of non-compliance through automated reporting and documentation.
• Consumer Engagement: Paragon offers a transparent platform for consumers to understand the source and quality of cannabis products, fostering informed purchasing decisions.
• Data Analytics: The platform provides valuable insights into consumer behavior and market trends through the analysis of blockchain data, helping businesses to strategize effectively.

How to Keep your Paragon Safe?

To ensure the safety of your Paragon (PGN) tokens, consider the following best practices:

• Use Hardware Wallets: Store your PGN tokens in hardware wallets, which are more secure than software wallets, as they keep your private keys offline.
• Enable Two-Factor Authentication: For any exchange accounts or wallets, enable two-factor authentication to add an extra layer of security.
• Beware of Phishing Attacks: Always verify URLs and avoid clicking on suspicious links that could lead to phishing sites aimed at stealing your credentials.
• Keep Software Updated: Regularly update your wallet software and antivirus programs to protect against vulnerabilities and malware.
• Backup Your Wallet: Ensure you have backups of your wallet and private keys stored securely in multiple locations to prevent loss due to hardware failure.