Bananacoin, I know that if anybody saw ico, tech, blockchain and banana in 1 sentence would immediately feel that among that one word is completely odd and weird to be set among others. Especially these popular in the digital world words. As an increasing number of ICO project are emerging day by day we see how diversified their ideas and money usages are.
The Blockchain In The Food Sector
When you look at this from a banana perspective, there is nothing new or revolutionary. This really is a multi-billion food industry. There are many plantations spread across the world and bananas are imported for hundreds of years. However, this time that the blockchain technology will make this “ordinary” banana farm quite broad in its own way as it’s going to be the first of it’s kind which will be publicly set up, as well as accounted on the transparent blockchain. A lot of people associate this tech with Bitcoin and payment procedures, but it does not only act as a fancy coin deployer but also appears to be the best data storage now offered. It will turn into a fantastic advancement in the managing process of the whole import and business component of the plantation project.
Right now, the business already owns 100 hectares of land that is being used for banana farm. To maximize the proceeds, it is great to keep your entire plantation in one place, but the purchasable land is often scattered over a huge area and it is costly to keep all these in that manner. Therefore the company would like to utilize the benefits of the region they have chosen for their first plantation and expand it using increased funds, finally creating one big plantation.
They are located in Vientiane province of Lao PDR. As a result of the floodplains which are nearby, the soil is effectively fertilized and the majority of the water supply’s prices are considerably reduced. The climate is ideal for the plantation with high average air temperature. There’s also a relatively cheap energy for agricultural producers. The place has been chosen very well and is the powerful advantage of this project.
The Banana Enterprise
They focus their plantation on the banana known as “Finger Lady”, which can be one of the most demanded and highest valued species.
On the 100 hectares they are able to plant 361,600 bushes. A single bush gives 12.5 kilograms of export natural crop. After all of the calculations that the profit of single harvest can grant even $4,520,000. And it is all provided the cost per kilo is at $1 and as we can see at the chart it can go up even to $4 depending on the season and the need. They would like to concentrate their export on the Chinese market and generally exchange in the Asia region. The exports of bananas to China rose from 42% in 2011-2012 to 88 percent in 2014-2015. And it seems like this tendency is constantly and steadily raising.
The Token Also It’s Price
Bananacoin (BCO) is an Ethereum based token. This means you’ll be able to store it in any regular Ethereum wallet. It’ll be tradable on various exchanges. The most interesting characteristic of the token is the simple fact that it is the market price is signaled by the food market’s cost of the kilogram of bananas. It might sound funny for an investor to trust a banana with their money, however when we consider the stats we can observe that over the past 7 years, the purchase price of 1 kg of bananas has been rising by 4-10 percent per year, making it not just a stable and secure investment but also a steadily growing one.
Not only the token will act as a tradable asset but in addition, it makes the proprietor eligible to find the profit share of the project execution.