PerksCoin (PCT) is a cryptocurrency. It was created in 2014 to be used in cannabis industry. PerksCoin was created by CannaSOS, a Canada-based company founded by Oleg Cheine. The most popular cryptocurrencies, as bitcoin or ethereum were created as universal currencies. The PerksCoin is different, and aims at certain market niche - cannabis industry. All modern cryptocurrencies are based on blockchain technology.
The cryptocurrencies not only ease trade, but also ease laundering money. Therefore, more and more attention is given by governments and regulators on that type of currency. As the cannabis industry is illegal in some countries, it had long-time financial problems. The PerksCoin was designed to help solve those problems. Even if cannabis trade is legal, the banks are not eager to lend money due to possible impact on bank's image. Thanks to PerksCoin it is possible to legally trade and finance production of cannabis.
PerksCoin is a digital currency for users, who are selling their goods via CannaSOS, cannabis social network.
Whole CannaSOS system is based on reward system. Users activity is rewarded with currecy, for example: writing articles, leaving comments or pieces of advice, all of digital activity is converted into PerksCoins.
PerksCoin can be purchased or given strict to other member. There are plans for developig a PRC Reward Card (a card, which can be used in the whole CannaSOS network) and the next important thing is the possibility of utilizig PerksCoin in partner dispensaries.
Now users have opportunity to create an account in PerksCoins, USD, EUR, CAD or GBP. PRC points can be exchanged for currency or goods and advertising.
The PerksCoin transaction platform, or Peer to Peer (PTP), will offer a way for secure transactions to be conducted in business-to-business (B2B) and business-to-consumer (B2C) use-cases.
PerksCoin wants companies to use it for PTP (each participant in the network is equally privileged).
Secure Sale System
The history of idea the whole concept is connected with cancer. One of the company's CEO friend, in 2013, had a hemp farm. He was trying to heal his aunt with cannabis. In the same time, his daughter was diagnosed with liver cancer. She went for chemotherapy, and aunt went through medical cannabis treatment. The daughter passed away after five months and the aunt, after eight months treatment, recovered.
Users of CannaSOS can search over 5,000 strains of marijuana, read different reviews, share treatment success stories. But there is a big danger of being robbed, every transaction is connected with drugs. So company is using Secure Sale System. For customers, it's just another way of payment and they get loyalty rewards of more PerksCoin tokens.
Secure Sale is a system, which protects both sides. Customer pays for product, and Perkscoin platform holds the money until supplier send weed to a customer. Then, when everything is fine, you can unblock the transaction, and money goes to the seller. When something is bad, supplier must correct it, and then he gets the money.
Right now, 10% of users come from Canada. 70% come from the United States. The rest come from the U.K., parts of Europe, Australia and Africa. But the biggest amount of clients come from Canada is from Vancouver and Toronto.
In this moment, there are 2.5 million users on the site. 
There are many risks for PerksCoin. Companies must pay for this function that offers deposit, arbitration and functional functions. This creates an environment in which PerksCoin does not exist. This makes the PerksCoin token similar to a company that can only be used after fulfillment of the assumptions.
Another threat to PerksCoin is that governments can change the regulations on cannabis, for example legalize drugs. This could even change to whole comcept to using the traditional financial system. 
- Admin1 (2017). The 420 Digital Currency Introducing Perkscoin
- CannaSOS Whitepaper (2017).PerksCoin Token Transaction PlatformVersion 8.1
- Investopedia PerksCoin Definition
- J. Yuen (2018) Toronto Sun New cryptocurrency for medical cannabis industry still hazy: economists
- Narayanan, A., Bonneau, J., Felten, E., Miller, A., & Goldfeder, S. (2016). Bitcoin and cryptocurrency technologies: a comprehensive introductionPrinceton University Press.
- Marijuana News (2017) 420 IntelCannaSOS uses Blockchain to facilitate legal marijuana transactions
Author: Maja Rogalska