BananaCoin
BananaCoin is a blockchain-based national asset token specifically geared towards increasing capital for the banana industry in China and Vietnam, rising stars of the global banana industry. Founded by a team of largely Russian entrepreneurs and agronomists as well as agricultural exports from Thailand and China in 2017, the team sees BananaCoin as a stable market investment opportunity due to the consistent demand for bananas worldwide and the necessity for banana production to expand because of that growing demand. Bananacoin has just started selling banana coins, selling almost 700,000 credits so far. In purchasing these credits, backers can invest in the expansion of a particular banana farm or production plant and get BananaCoin token (BCO) as proof of investment, which can be exchanged after the project gets off the grounds for either a sizable amount of Lady Finger bananas or the market value of a kilogram of bananas. With BananaCoin however, what investors are ultimately driving is mass banana plantation growth, which contributes to global deforestation and the loss of native biodiversity, similar to, though not necessarily on the same scale, as palm oil production, which has been damning for native forests throughout Southeast Asia. BananCcoin does not address this critique, though in an age of heightened awareness in sustainable investment, contributing to deforestation could certainly be a drawback for investors and the wider public.
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Blockchain, Regulation
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