Bananacoin Organic ICO Review

I understand that if anybody saw ico, technology, the blockchain, and banana in 1 sentence would instantly feel that one of those words is odd and quite weird to be put among others. But these are popular in the digital world words. As more and more ICO projects emerge we see how diversified their ideas and money usages are.

General Idea

BananaCoin wants to raise money to be able to extend significantly their banana plantation. It is another example of digital coin behaving as a crowdfunding mean to get an actual, constructional job. The coin’s worth will probably be related and depended on the food marketplace.

The blockchain from the food industry

When you look at this from a banana perspective, there’s not anything new or revolutionary. This is a multi-million food industry. There are numerous plantations spread across the world and bananas are imported for centuries. However, this time that the blockchain technology will create this “standard” banana farm quite radical in its own way as it’s going to be the first of it’s type that is going to be publicly funded, in addition to accounted on the transparent blockchain. A lot of people associate this tech with Bitcoin and payment methods, but it doesn’t only work as a fancy coin deployer, but also happens to be the best data storage now available. It will become a great advancement in the handling procedure for the entire import and business component of the plantation project.

Banana areas

Right now, the company owns 100 hectares of land that is being used for banana plantation. To maximize the proceeds, it is good to keep your entire plantation in one spot, however, the purchasable property can be sprinkled over a large area and it is costly to maintain all of these in that manner. Thus the company wants to utilize the benefits of the area they’ve chosen for their initial plantation and extend it using raised funds, eventually creating one major plantation.

They are located in Vientiane province of Lao PDR. As a result of the floodplains which are nearby, the dirt is efficiently fertilized and most of the water supply’s costs are considerably reduced. The climate is ideal for the plantation with average air temperature. There’s also a relatively cheap energy for agricultural producers. The place was chosen very nicely and is the strong advantage of this undertaking.

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