What do you get when you combine the varied talents of software developers, lawyers, and fruit farmers in Laos? Bananacoin, that's what.
As Bitcoin, and cryptocurrency in general, continue to come under scrutiny, a new player in the digital currency arena has emerged, putting its own spin on the trend. According to their website, Bananacoin is "a utility token based on Ethereum, pegged to the export price of 1 kg of bananas."
... to grow organic and healthy variety of bananas known as "Lady Finger" in our plantations in Laos and to export them to China where demand is greater than supply.
Touted as "the world’s first blockchain option for participating in the production of organic bananas in Vientiane province, Laos," Bananacoin has been known by cryptocurrency miners for awhile now — long enough to sell nearly 4 million of the total 14 million tokens — but has just recently received widespread notice by the public at large, thanks in part to this Tweet by tech industry, start-up founder Zack Bloom:
Twitter had plenty to say about it. From somewhat supportive:
To outright skeptical:
To total mockery:
Apparently, Bananacoin wasn't the first to introduce a banana coin, as some commenters pointed out:
But Dana Al-Radhwan said what many people were thinking:
Only time will tell if Bananacoin will be a success. But it already has a-peel!
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