|ICO Timeframe:||11/29/17 – 02/28/18 (ICO)|
|Token Supply:||1,800,000 BCO|
BananaCoin is blockchain project aiming to achieve a core modification of the global banana production industry. BananaCoin is using the proven TGE crowdfunding model, allowing backers to invest in expansion of production and become holders of Bananacoin tokens (BCO), which can be exchanged after project launch for goods or funds and we are told will more than double in value in 18 months’ time. After the realization of the project, Bananacoin tokens will be exchangeable for a certain amount of Lady Finger bananas or equivalent monetary compensation. Because the token is backed by the market value of 1 kilogram of bananas, participants have some certainty as related to the success of the project, as the demand for bananas is constant. Environmentally friendly technologies will be used in the project to ensure goodwill amongst local stakeholders.
PROS: Management team that has worked together for quite some time, relevant industry experience, existing business, asset-backed.
CONS: Essentially a commodities/land development investment, other than sourcing capital through and ICO does not leverage blockchain technology.