GENEVA, Switzerland – Alkiviades David and his Swiss-based consortium launched The Swissx Bank of Cannabis headquartered in Gstaad, Switzerland, with a Caribbean headquarters to be named soon.
Featured as the first Cannabis-tied Cryptocurrency and Global Hemp Exchange; the bank also operates SWX Coin, a cryptocurrency based on Bitcoin’s blockchain with single-unit pricing is pegged directly to the median global price of premium hemp flower. The Swissx Global Hemp Exchange will also provide the entire industry with a secondary market where futures and other trades can be made based on its global market analytics.
Initially the bank and its coin will manage all of Swissx’s financial transactions with its many partners in the United States, Europe, and the Caribbean, but the bank is also a turn-key solution for the entire Cannabis sector, providing a secure, transparent venue for all transactions, and a coin tied to a commodity. The CBD-hemp business is expected to reach $24 billion in the US alone by 2023.
The Swissx Bank of Cannabis launched with the backing of $750 million worth of premium Swissx Cherry Wine and Donald Trump seeds and $250 million in Swiss Francs. The Farmer’s Wallet within the SWX Coin block-chain has been set up to pay members of the Swissx Hemp Farmers’ Cooperative.
The international cooperative, which is growing quickly in Puerto Rico, St Kitts and Nevis, Antigua and Barbuda, Dominica, St Vincent and the Grenadines, Barbados and Saint Lucia) was set up to keep up with the demand for Swissx Hemp Flower products and provides proprietary hemp strains, training, and a guarantee to purchase all crops grown by its participating farmers.
Farmers are paid in SWX Coin from the Farmer’s Wallet which is redeemable for cash anytime, without restriction, from the bank’s vaults in Gstaad, Switzerland or regional offices in the Caribbean. Outside of the Farmer’s Wallet, surplus hemp is sold to third party buyers using SWX Coins that they purchase from Swissx Bank of Cannabis.
The Swissx Global Hemp Exchange will monitor and analyze thousands of data streams including predictive crop software linked to partner Chase Ergen’s vast network of satellites, EchoStar. The Exchange will initially handle Swissx’s surplus crop at preferred rates but will eventually become the authority for the entire Cannabis sector for trusted pricing and trading.
For added speed and security the Swissx Bank of Cannabis and SWX Coin operate on D-Wave Technology’s advanced quantum computers.
Swissx, the first company to take safe, legal, CBD products into the mainstream, has recently developed a massive international cooperative farming operation with acres already planted in California and Puerto Rico, and 5,000 more acres under contract across the Caribbean.
Swissx CBD products are distributed globally in premium health food stores, doctors offices, and in mass-market outlets such as 7-11 convenience stores. The products have been endorsed by Mike Tyson, Scott Disick, of Keeping-up with the Kardashians, Dave Navarro of the Red Hot Chili Peppers, Snoop Dogg, Chief Keef, Lil Wayne, Tommy Chong of Cheech and Chong, Donatella Versace, Jonathan Rhys Myers and many more.
Swissx Genetics, with labs in Switzerland and South Korea, has developed the purest and most powerful CBD-only strains of hemp available and head of Genetics Dr Olof Olson continues to modify using genetic modification and some highly unconventional radiation-based experiments to continue to develop a strain so distinctive it becomes its own genus. (The division of Swissx is also working on animal cloning and de-extinction).
Recently, the Drug Enforcement Administration (DEA) announced that it is moving forward to facilitate and expand scientific and medical research for marijuana in the United States.
“I am pleased that DEA is moving forward with its review of applications for those who seek to grow marijuana legally to support research,” said attorney general William P. Barr. “The Department of Justice (DOJ) will continue to work with our colleagues at the Department of Health and Human Services and across the administration to improve research opportunities wherever we can.”
Alki David’s efforts in the Caribbean have been praised by agricultural and business leaders, as well as government officials, for their fairness and their urgency.
“First we changed the game for CBD products, then we created tremendous opportunity for farmers and their regional economies throughout the Caribbean,” said David, chief executive officer (CEO) and founder of Swissx.
“Now we’ve used Swiss financial know-how to create the first bank and Cryptocurrency entirely optimized for the legal cannabis industry. The Swissx Global Exchange will be an authoritative resource for the entire industry, better than Nielsen, bigger than Nasdaq. Together, the Bank and Currency and Exchange don’t just insure Swissx’s international operations run perfectly, it will become the engine for the fastest growing business sector in the world.”
Swissx also announced that former prime minister of St Kitts-Nevis Denzil Douglas has joined the Swissx Bank of Cannabis board.
Douglas, who is also known as the founder and chief executive officer (CEO) of his social and environmental impact non-profit, the Global Lifestyle Group, has already been acting as a Caribbean business development consultant for Swissx. The Swissx Bank of Cannabis and the Swissx Global Hemp Exchange will soon name a Caribbean capitol as regional headquarters from a shortlist of competing offers.
The cannabis industry has faced countless legal barriers that have hindered its expansion into the digital marketplace. However, the retail industry has drastically changed due to the development and propagation of e-commerce. at the palm of consumers hands, transitioned towards a digital business.
The remarkable growth of the cannabis industry has now allowed it to compete against major international industries, businesses are tasked with meeting consumer demand, and collaboration to advance the Swissx wallet.
Swissx is supported by Alki David’s companies, FilmOn Networks, a pioneering, global streaming TV service, Hologram USA, the original celebrity hologram and telepresence company, and the digital distribution platform Octiive. Partners include Universal Studios, Capital Cities/ABC, the House of Dior, Universal Music Group, Tyson Ranch, Indian prime minister Narendra Modi, NBCUniversal, and many more.
According to recent data compiled by Ameri Research, the global legal marijuana market was valued at USD$14.3 billion in 2016. By 2024, legal marijuana global sales are projected to reach USD$ 63.5 billion while exhibiting a CAGR of 21.1 percent from 2017 to 2024.
Download the Swissx wallet here.