Some time ago, we were talking about Bananacoin, a surprising ICO. The project continues on its way, but we recently had the chance to briefly discuss with Alexander Bychkov, the co-founder of the project. Find below the interview resulting from this exchange
We had presented the project a little over a month ago, Bananacoin offers the first token in the world supported by … bananas! Behind this claim, which seems absurd, lies a well-thought business model, as well as a company with a vision and an interesting ethic.
The banana market is booming in China. Demand has outstripped supply, as nearly 20 Chinese plantations have been suspended due to violations of chemical fertilizer regulations.
This is how the Bananacoin teams saw a place to take. Based in Laos, Bananacoin focuses on the production of Lady Fingers (the most popular banana variety), all using ecological and organic farming. In order to extend their business, and to take this project further, a call for investors was launched in the form of an ICO, or more precisely a TGE (Token Generation Event). Their token, the Bananacoin, is based on the Ethereum blockchain. This is a utility token whose main interest is to attract investors to finance the creation of a sustainable project.
If you want more information on their token, their business model and more, go on this article, before you start reading our interview with the co-founder: Alexander Bychkov!
What is Bananacoin?
Since banks do not really support agriculture in the South, we have appealed to private investors. That's how the idea of using a blockchain was born. We heard about crowdfunding through tokens, and we went into research. Currently, the TGE is launched.
We took more than a year to reach the soft cap on our project, starting from scratch to get in the spotlight. We have a great team, very professional people from all over the world. Russia, Laos, Austria, Thailand, China … From everywhere! To date, we have about 50 people working on the Bananacoin project.
In addition to being an eco-responsible project, Bananacoin can boast not to use chemicals, and to remain 100% organic! We are also a socially responsible project, since we are very concerned about the living and working conditions of our farmers.
Bananacoin Interview: Alexander Bychkov
Let's start with the presentations. Who are you ?
Bananacoin Interview Alexander Bychkov
Alexander: Hello! My name is Alexander, I am the co-founder of the Bananacoin project. I'm 36 years old, and I live in Vientian, the capital of Laos. In life, I grow the best bananas in the world to resell in China. The business is doing very well, so it's time to expand.
In your opinion, what are the key factors that promise success for Bananacoin in a saturated market of tokens?
Our product is a real asset, something palpable, even edible! This is an essential point that sets us apart from most other projects.
What are the main challenges that Bananacoin will face?
The key is to keep our promises, and to be a successful project. The biggest challenges lie in the future, and go with our desire to create an ecosystem that supports organic agriculture projects around the world.
So with 1 BCO, I have the right to 1 kg of bananas. Is it also literal? How do you manage the shipment?
Holders of 1 BCO are entitled to 1 kg of Lady Finger bananas from our plantation. To get your hands on it, you will have to manage the delivery yourself from our farm.
This is an advantageous solution for our resellers in China, who can get our bananas three days after the cargo leaves our warehouses. It is therefore an external delivery to the plantation. If you do not need bananas, you can still receive compensation equivalent to the export price of 1kg of bananas.
And I really have the right to visit your farm?
Yes, everyone is welcome! We are happy to meet all the holders of our tokens.
We know that the situation of cryptos in China is still unstable. Can this situation impact the future of Bananacoin?
In China, our market is not related to cryptocurrencies. We sell our bananas for fiduciary money. In my opinion, the impact of this situation could only be positive, since people will move towards more stable tokens.
From a purely personal point of view: what motivates / inspires you the most about Bananacoin?
The future. I want to create this ecosystem to help projects all around the world. When I think about it, I feel able to work 24/7.
Do you think BananaCoin can become a major player in the crypto community? Would that be useful for something?
Bananacoin is a local token, so let's say it's the beginning of something bigger. The token will never become as big as bitcoin, since it is tied to the price of bananas which is itself limited.
We are already rather known in the crypto community, I am sure we will meet a great success.
Thank you for this interview! Something to add ?
Welcome to the family ! You want to know more ? Join us on Bananacoin's official Telegram!
Attention: We promote this ICO because we find the project interesting. However, you must do your own research before investing and take full responsibility for your decisions. Scams are numerous and we strongly advise you to conduct a survey on the team and the feasibility of the project. This article is a presentation and can in no way be considered as investment advice.