Thanks to the Ethereum Network it is now possible to create your own currency and and ICOs to raise funds without having to design a blockchain network from scratch. It has become a popular among blockchain start-ups. Such funding solution allows to collect the resources necessary for their project. But many existing nowadays tokens may seem abstract. It can be difficult to imagine their use in the future. But not with Bananacoin.
Idea of using tokens to raise funds for a real business came to a Russian entrepreneur who’s decided to use ICO mechanism to expand a banana plantation in Laos.
Demographic and economic growth of China is now a news. Having many productions itself China is a great target market for bananas. The thing is Laotian environmental standards are higher than Chinese.
Use of pesticides in Chinese plantations has led to the contraction of diseases and disturbing symptoms for some Laotian workers. As a result in April 2017 the government of Laos has decided to close several Chinese plantations located on their territory.
This lead to deficit of bananas in China and shortage of jobs for the population of Laos.
Bananacoin, the eco-friendly farm
All of that made a Bananacoin plantation grow and develop into a successful business.
Bananacoin has always been in accordance with Laotians regulations, 100% organic and chemical free.
And since the demand for its products has increased, the only logical and economically reasonable thing to do was an expansion. That’s how an ICO idea came to the table.
Basically Bananacoin project is like a fundraiser, which allows donors to receive tokens in exchange.
Characteristics of Bananacoin plantations :
New lands for Bananacoin are still untouched areas located far enough from old Chinese owned plantations. These lands have never been cultivated, which is perfect, because some chemicals can stay in a soil for up to 100 years making soil unusable for agriculture.
Especially it’s important for the sort of bananas Bananacoin grow – Lady Fingers. The most elite, expensive and in demand in the rich Chinese market.
Red = old Chinese plantation
Blue = Bananacoin plantation, when you click on pic it leads to googlemaps address of the plantation
How funds will be used ?
Each hectare can hold up to 3,616 banana trees and requires an investment of $ 20,350.
Thus every 6$ invested is a banana tree planted is Laos.
The team set itself the goal of planting between 100 and 360 hectares of banana trees at the end of this ICO.
For the moment, nearly $ 2 million has been raised since the end of November and the ICO continues until the end of February.
You can find Bananacoin’s investment plan here: bananacoin.io/plan
What is the future of Bananacoin ?
At the moment Bananacoin token is 0.7$.
It also 1 kg of elite Lady Fingers bananas, the retail price of which goes up to 6$.
The market price of bananas has been increasing for several years due to the population growth and now stands at $ 3.45 per kg.
Although in the end of ICO Bananacoin investors will be able to exchange their tokens to bananas, not all of them prefer fruits. So Bananacoin will be trade at Coss and bought back by the company itself.
So if you are looking to make a profit of a real business your are welcome to The Bananacoin Family – https://bananacoin.io/
Become a part of the project Got questions left? Welcome to Bananacoin official telegram chat https://t.me/bananacoineng
Bananacoin (BCO) :
Bananacoin is a token ERC20 may be stored on an Ethereum wallet.
Official Website: Bananacoin.io
Libération – 19/10/2015 – “The government sold the north of Laos to China” – French article about Chinese/Laos issue on banana farm The Diplomat – 14/04/2017 – “What’s Behind Laos’ China Banana Ban? ” – Same but English resources
RFA – Lao Province Issues Banana Ban – More Chinese-Owned Banana Plantations to Close in Laos Same but English resources