What is bananacoin? People interested in cryptocurrencies and initial coin offerings are asking this question. Bananacoin is a cryptocurrency token that supports the production of organic and eco-friendly bananas in Laos. Let us look at some of the prominent features of this project.
Simply put, this is a crowd funding initiative. Funds raised from the token sales will be used in growing bananas. Yes, this project produces organic bananas. Unlike hundreds of other new tokens, banana coin directly supports a real life business. People behind this project are running the first eco-friendly banana plantation in Laos. You can even visit the banana plantation that is located somewhere in Laos. Farm’s site address is available at banana coin’s official website.
According to the white paper, this project intends to decentralize the business by taking it beyond the conventional financial setups. The project identifies China as their target market, where the demand for bananas has increased after the closure of several local banana plantations due to regulation violations.
This project clearly furthers the fact that blockchain technology can be utilized in solving a number of real life problems. Crowd funding is just a one application of the blockchain technology. It can be used in solving countless other issues in real life.
Token sale for bananacoin has already started from 29th November 2017. The token generation event is going to end on 28th February 2018. From April 2018, the collected funds are going to be used in creating new banana plantations.
The team behind bananacoin claims to use no chemicals in their banana plantations. Bananacoin supports completely eco-friendly and organic banana production.
Bananacoin grows Lady Finger banana. This banana is said to be in high demand, particularly in China. It also sells at a higher price compared to other types of bananas.
Why Should I Invest?
According to bananacoin whitepaper, the price of one bananacoin is protected by the price of 1kg banana. The team behind bananacoin thinks that the price of the token will be preserved by the value of the product itself. Moreover, increased sales will positively impact the price of bananacoin in the near future. The total number of bananacoins is capped at only 14 million tokens. You can buy bananacoin using bitcoin, ethereum or bank/paypal transfer. Find a complete guide on how to buy bananacoin here.
If you like bananas, and care about the production of organic bananas, then this might be a good project to invest in. Another positive thing about bananacoin is that it stands out among other ICOs. Simply because it supports a real life business. Bananacoin produces value in real life, which in itself is a great model for decentralized economic activity.
So what is bananacoin? It is a digital token that supports the production of organic bananas in Laos.