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Bananacoin (BCO) ICO Review – ICO Token News

The Bananacoin project is set up with a strategic goal by the initiators to decentralize business expansion process and take it far off the framework of traditional relationships. The key objective of the project is to facilitate the adoption of blockchain technology on the commodity market for its wider recognition by the crypto markets of Bitcoin, Ethereum, Waves and other altcoins. The project has a strategic goal – to facilitate core modifications in the global banana production industry, related to the production and delivery of bananas, leveraging blockchain technology. The project is envisioned to create processes in the production of bananas by implementing an organic element in the export relations of the product.

Analysis of banana production industry

The Vietnamese province of Laos has highly favorable conditions of banana production. Banana is the main export good of Laos. The central and southern regions of Laos account for 83% production of the total banana produced from the region. Commercial production of bananas in Laos started in 2005 with the opening of the first commercial banana plantation in Luang Namtha province. The project initiators are already engaged in farming activities in the region, and have obtained all the necessary permits from the government agencies.

Commercial production of bananas in Laos is steadily expanding with more investors putting in their money into the industry. Businesses have experimented with different models like state-private partnership, bringing in private agricultural organizations and home-growing household, all of them being successful only to some extent, less than the expected. Attracting funds through crowdfunding is unique and innovative for the industry in the area. It is still uncommon, and that’s what provides further element of success to the project.


Target markets for business growth

The key target markets for the banana exports are China and Thailand. Signing of an agreement between the Government of Laos and Government of China has given boost to the banana export market in Laos. The agreement set regulations related to quality control, customs and safety, with an objective to create favorable conditions for the export of bananas. In fact, the export of bananas to China has increased from 42% in the year 2011-12 to 88% in the year 2014-15. With a large share of export volume previously destined to Thailand now being diverted to China, the growth of banana exports in Laos is only going to be sustained.

The analysis of the key competitors to the project

The main competitor is China, which is investing in banana production in Laos. However, the authorities have suspended 18-Chinese supported banana plantations in Laos for violating safety regulations related to the use of agricultural chemicals. Vietnam is another key competitor; however, the bananas produced on its soil are of low grade. American-Vietnamese war of 1965-1973 has caused chemical pollution in its soil. The ecologically unfavorable conditions further are a hindrance to continue commercial production of bananas in the region with low cost.  Cambodia is another potential competitor.

The scenario for the competitors is not encouraging

However, with Chinese Government signing an agreement with Cambodia in 2014 to increase the import from the country, Cambodian producers hardly offer any challenge to the project initiators. This makes the market less competitive for the Bananacoin project initiators to thrive.

Thanks to the favorable climatic and regulatory conditions in Laos, banana cultivation in the region has high potential for growth. The current shortage of bananas in the country means, that up to 30,000 hectares of cultivable area can effectively be used for the purpose, with guaranteed sales. Once a crop cultivation cycle is completed, the same area can be used for the cultivation of a crop returning you similar profits. The crops worth consideration here are mango and papaya.

Challenges to overcome

The key challenge to have commercially viable and profitable cultivation of bananas is availability of sufficient fertile landmass concentrated at a location. It is easy to find small size plots of up to 20 hectares scattered here and there. However, for a profitable production, one should have at least 200 hectares of cultivable landmass.

So, the specialists of Bananacoin project identified territories in the Vietnamese province of Lao PDR. The territory being near the floodplains is most fertile and the water supply is plenty and costs the lowest.

The location offers many strategic and competitive advantages for banana production. Some of these are:

  • Highly fertile soil
  • High average air temperatures
  • Source of cheap water supply

Near the identified territory, 8,000 hectares of fertile land is available, all in the same valley. The initiator-company has set up a banana production cycle on a highly fertile landmass of 100 hectares. It has plans to expand its cultivation territory from the current 100 hectares to 360 hectares by sourcing funds through crowdfunding.

Goal of the project

 The project initiators have set up a goal for over 360% growth in the sale of products (bananas) in the Chinese markets, to be materialized with proportionate growth in the cultivation and production area.

Saplings of high yield Lady Finger bananas are procured from the specialized companies in Thailand. Use of fertilizers (sourced from Thailand) and the frequency of irrigation is determined keeping some parameters in mind, like the measurements of plants and the health of the soil. The most powerful shoots from the main trunk are selected to grown into the plant in next crop cycle, while the weak ones are removed from the stock. Lady Finger variety of bananas is highly popular in China, and sells at a higher price in the retail markets, compared to other varieties of the bananas.

Here are the short term and long term strategies of the project

Short-term strategy:

  • Bananacoin Tokens are to be created that will entitle the participants for future receipts of goods or get monetary compensation of equivalent value.
  • Tokens to be sold through the leading crypto currency exchanges. Bananacoin Token or BCO has been priced for one kilogram of bananas.
  • Banana cultivation is to be done for 18 months.
  • All BOC tokens can be exchanged for goods or one can even opt to have equivalent monetary compensation instead.

Long-term strategy:

The long-term goal of the company includes expanding the production area to maximum of 1,000 hectares. Cooperation with the major international and regional players and funds will be strengthened by the means of assets’ disposal.

Advantages for ICO investors

 Economic advantages 

  • Since BCO tokens are based on commodity value, they do not need banking or financial institutions to facilitate transactions. Instead, their market value depends on the company and its export activities.
  • Being commodity-based tokens, they are linked to the market value of bananas. This commodity has shown appreciation in value of up to 10 percent in the past few years. So, unlike the fiat currencies that have little protection, crypto coin tokens are well protected against inflation, so the investors could be rest assured of gaining sustained benefits.
  • Use of blockchain technology means increased transparency as the TGE participants will have access to all information related to the product, like harvesting and growth of the banana and its subsequent sale into the markets. Moreover, all financial transactions will be documented in a secure and fool-proof manner.

Technological advantages

  • Since BCO tokens are stored into tokenized wallets, these can effortlessly be transacted on the crypto currency markets, and will eventually be integrated into the existing stores. The transactions of the wallets are safely stored and cannot be altered or deleted. This way, the tokens stored in digitalized wallets remain safe and secure.
  • Emission of Banacoin tokens makes use of Ethereum based blockchain technology, which is considered most stable by the experts. Blockchain technology being a relatively new development in the field of IT, it’s quite hard for the hackers to access the account information of the investors. The efforts will be highly discouraging from financial gains points of view.
  • The project experts have taken special efforts that the Bananacoin tokens are easy to use, exchange, store, withdraw and traded for as its value understandably is equivalent to that of one kilogram of bananas. This way, even the uninitiated can use Bananacoins in a hassle-free way; one need not have in- depth understanding of blockchain technology or the knowledge of crypto coins and exchanges. 

Banancoin ICO in a little detail

Bananacoin Initial Coin Offering (ICO) or Token Generation Event (TGE) essentially involves crowdfunding, the investors will be able to invest in the token sales to fund the expansion project of the company. The ICO participants will be able to purchase Bananacoin Tokens or BCO. These tokens can be exchanged with other funds or to buy goods like Lady Finger bananas, after the project launch.

The investors can be assured of the success of the project as BCO tokens are backed by the market value of one kilogram of bananas. The demand of the Lady Finger bananas, considered best variety, is constant. Moreover, the use of environment friendly technologies in the production process means the goodwill will attract the investors and the price of the token will grow. The ICO organizers expect the value of BCO tokens to appreciate in price more than double of its current price within the next year and a half.

Bananacoin tokens will be created using Ethereum based blockchain technology, and will be emitted based on export price of one kilogram of bananas.

Estimation of the funds required:

$2,035,000 to expand the production territory by one time

$4,070,000 to expand the production territory by two times

$6,105,500 to expand the production territory by three times

$7,326,000 to expand the production territory by four times

Here are the main stages of Bananacoin ICO or TGE:


September 2017

1,000,000 Banacoin Tokens will be put for presale, with 50% discount. BTC, ETH and Visa/Master credit card can be used for the purchase of tokens.


December 2017

The raised funds will be used for the production of Lady Finger bananas.

Preparing the Land for Cultivation

November 2017 – March 2018

All documentation for the land acquisition will be completed and the area will be cleared for the production of bananas.

April – December 2018

Plants are grown that are ready to be sold the next year. 

Token Circulation

Tokens are allowed to be used for the exchange of goods or equivalent monetary value, 18 months after the closure of TGE. 

Key milestones of Bananacoin project

  • Bananacoin tokens or BCOs are issued to the ICO participants.
  • The production area is increased from the current 100 hectares to 360 hectares, utilizing the raised fund amount as per the project cost allocation.
  • The value of BCO coin will increase in 18 months due to increased sales of Lady Finger bananas in the target markets.
  • Additional Bananacoin Tokens will be made available for circulation in crypto currency stock markets.

Objective of the crowdfunding 

The Bananacoin Token Generation Event is being held with the objective to allow the participants buy a commodity option that delivers 5.5% per month. Moreover, the participants will be able to receive a financial instrument with free circulation on exchanges.

Bananas rank fifth in terms of commodity consumption all over the world. Bananacoin Token or BCO is backed by the value of produced good, i.e. banana in this case, which is in high demand all over the world and has shown resistance to inflationary and volatility forces.

Here is why you should participate in Bananacoin ICO or TGE

Bananacoin is a participant-oriented project, which aims to revolutionize the production of bananas, a future product based on blockchain technology. The Bananacoin Tokens are backed by commodity value of one kilogram of bananas to be produced by the project initiators. The company management thinks that the blockchain technology can be effectively used for the creation of commodity value-based currencies that will serve as foundation for the real economy sector.


China has a consumption volume of nearly 13 million tons each year. The consumption of bananas has multiplied by 12 times in the last 8 years. The trend is continuing unabated. The growth in population has necessitated the growth of banana production and imports in the country.

The consumption of banana has stayed relatively stable even during the times of economic crisis as it is a relatively cheap commodity.

This way, Bananacoin Tokens are all set to return good value and gain appreciation in value in the coming months as these are pegged to the price of bananas.

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