The initial coin offering background is home to a very wide spectrum of distinct startups. Many platforms are incredibly successful, some are not, and a few are bizarre. Within the following guide, we will have a sneak peek at Bananacoin, among the most popular ICOs in recent months.
What Is BananaCoin?
The BananaCoin ICO is focused on developing a brand new Ethereum-based token that’s tied into the cost of a single kilogram of bananas around the global market. Even though this might appear entirely different, looking deeper to this Bananacoin platform shows there’s a method to its madness.
The core aim of this Bananacoin system would be to enlarge the dimensions of this Bananacoin plantation, that is now sized at approximately 100 hectares. Bananacoin intends to boost plantation holdings at the Vientiane province of Lao PDR, together with the end goal of exporting “Lady Finger” bananas- that the most beneficial banana breed on the planet- neighboring China. Bananas, astonishingly, are a fantastic investment in the technical analysis perspective. Within the last 7 decades, the global price of a 1 kilogram of bananas has improved by between 4 percent and 10 percent each year, producing bananas a comparatively steady investment.
The Bananacoin Token
The purchase price of the BCO is going to be tied into the worldwide price of one kilogram of bananas. Banancoins are not only going to be a tradable asset but also provide owners with profit share at the Bananacoin project implementation.
Even the Banancoin token pre-sale has already concluded, successfully selling one million tokens. A private sale, that is currently underway, can be combined through the platform website.
At the moment, the business already possesses 100 hectares of land that is being used for the banana farm. To maximize the profits, it is good to keep your entire plantation in 1 location, but the purchasable land is often scattered over a huge area and it is expensive to keep all them in that way. Therefore the provider would like to utilize the advantages of the area they have chosen for their initial plantation and extend it with increased funds, finally creating one massive plantation.
The blockchain in the food industry
When you look at this from a banana point of view, there’s not anything new or revolutionary. This is a multi-million food market. There are many plantations spread across the world and bananas have been imported for hundreds of years. However, this time that the blockchain technology will create this “standard” banana plantation quite revolutionary in it’s own way because it’ll be first of it’s kind which is going to be publicly founded, as well as accounted on the transparent blockchain. Many individuals associate this technology with Bitcoin and payment methods, but it doesn’t only function as a fancy coin deployer, however, also appears to be the best data storage now available. It will turn into a great improvement in the managing process of the entire import and business part of the farm project.
Although the assumption of Banancoin may seem strange, it is backed by strong financial planning and aims to corner an existing and profitable sector. If you’re interested in ICOs that aim to destabilize real-world product industries, then the Banancoin ICO is certainly looking.