Did you feel the technology did not get enough in the food industry? Stay calm, this has become history, thanks to a group of software developers and lawyers who have joined the Laos fruit producers. That's how Bananacoin appeared
Bananacoin is a utility token based on Ethereum, linked to the export price of one kilogram of bananas. Among other things, it is the first blockchain option in the world that involves the production of organic bananas in Laos, and the producers are boasting that they are able to change the banana industry in the same way that Uber revolutionized the taxi industry.
Bananacoin is a crowd funding model where you exchange investment in Laos banana farms for digital "tokens." Their value is equal to the export price per kilogram of bananas.
The Bananacoin goal is commendable, however absurd it is to banana speculation in the future. If you did not know, the common banana, known as Cavendish, is endangered by a mushroom. The team's mission is to help stop the banana disappearance by increasing the quantities of a sweet species called Lady Finger, which will be exported to China, where demand is high.
Even so, this did not prevent people from ridiculing the impact of cryptocurrencies and the best joke was that "At least it makes you rich in potassium."
The team behind Bananacoin includes two Russian entrepreneurs and a Thai agronomist who produce bananas in Laos's Vientiane Province. They hope to use Bananacoin's investment to expand its current size of 100 hectares to 360 hectares over the next 18 months. In addition, "chips" are not expensive. Since November 29, approximately 3.4 million Bananacoin out of 14 million have been sold at a price of $ 0.5.