as developers say, they aim to grow organic and healthy bananas "Lady Fingers" on their truly ecological plantations in Laos and export them to China.
The target audience and market is China. Project's whitepaper says that demand for banana exports in China has increased drastically from 2011 till 2015, and they claim that it will keep on growing even more in future.
Their main competitors are Cambodia, Vietnam, and Myanmar. At the moment their plantations cover 100 hectares in Laos, and developers plan to expand the land in 3.6 times.
The principal goal of the project is to moderate the production of bananas on the global scale (developers even compared themselves to Uber in their whitepaper: how Uber revolutionary changed the taxi industry). Website: bananacoin.io Analog: Simply Natural Farm Invest
How they differ from the competitors:
developers state that their location for plantations has the most comfortable conditions for banana growth. And bananacoin is the first project of this kind that wants to produce bananas on a blockchain.
How they want to make money:
they will use raised funds on buying new land for banana cultivation, the preparation will take 18 months. They will harvest and sell bananas then. After that, they will introduce tokens into the crypto commodity turnover. The team will also begin tokens' buyback from investors with guaranteed double profit in 18 months.
Market size: according to the Food and Agriculture Organization of the United Nations
, in 2014 the amount of territory for banana plantations in Luang Namtha province increased to 22 920 hectares. In 2016 the exported tons of bananas increased in 2 times. (they don't mention concrete numbers in the whitepaper though). What their token gives you:
an internal currency for exchanging for bananas and cash. Token price:
pre-sale — 1 BCO = $0,25, ICO — 1 BCO = $0,5. What will happen to tokens:
after the redemption tokens will be publicly burned.
Tokens will be issued on the Ethereum platform, and their emission will depend on the export price of bananas. The tokens will be globally traded on the market giving people the opportunity to raise their investments and become real participants in the commodity market.
But are we constantly asking ourselves — why do they need cryptocurrencies and the blockchain? They say they need them only to raise funds and pay profits to the investors in future
and after the harvest bananacoins can be exchanged for cash. But why such a complicated system?