F.A.Q.What is ICO?ICO (Primary Coin Offer) is a model of crowdfinding that allows us to issue digital tokens in exchange for investments. Each token gives its owner the right to receive profit according to the declared conditions.
Who you are ?We are owners of the real banana plantation, you can get acquainted with infotmation about our team and developers on the main page of the site
https://bananacoin.io/, and also chat personally at the
https://t.me/bananacoineng chat telegram.
What is the address of the Bananacoin farm?Ban. NAPHONG. Distric HINHEAP.pr.VIENTIANE
gps - 18.5585025 102.19301210
you can also find it on google map at:
https://goo.gl/maps/542XdhqpETP2How can agro-industry be tied to a blockchain ?We do not tie the agro-industry to the blockchain, we use the capabilities of a blockchain to raise investment (crowdfunding) and arrange transparent payments to investors in the future.
Do you have a Bounty program?Yes, the incentive program has already started and will operate until the end of ICO.
https://bitcointalk.org/index.php?topic=2164386.0 - detailed conditions and registration forms by reference.
Why Laos, why not Vietnam or not China?Right now we are already engaged in farming in Laos, we have permits from local goverment and wide tax preferences. To conduct such business is much more expensive in China, Vietnam also refers to ecologically unfavorable territories on the agricultural sector (chemical pollution after the war).
Why bananas, why not rice or apples?We are professionals of the banana industry, and we are make money on this right now. So now it's bananas. Moreover bananas occupy the first place in terms of consumption in the world, this is an excellent business.
What will happen after September 19th?After the 19th of September we begin to prepare the site for the main sales, prepare a legal package of documents for a new land and an open contract with investors. We launch a wide advertising campaign.
What is the cost of one token?The cost of the first million BCO (PRE ICO) is 0.25 US dollars per one token. The cost of one token on the main ICO is 0.5 US dollars.
Do you use pesticides ?No, our plantations are completely ecological.
What insurance against the volatility of the crypto currency for investors? Now it is more profitable to buy bitcoins.We conduct business in the real sector and therefore price binding will be to the market value of bananas in dollars. At the expense of investment prospects - the personal choice and strategy of everyone, we are ready to share our business model.
Do you have certification for the trade and the cultivation of bananas?Of course. Confirmatory documents of local authorities -
https://bananacoin.io/plantation/Do farmers have good working conditions?When we started here were only villagers and rice fields. And nothing more, just like that. We conducted electricity, organized access to fresh water and built infrastructure. Conditions have become much better. Now we are working on the organization of high-speed Internet.
At the pre-session stage, we organize a lottery among investors, three of whom can personally communicate with farmers in Laos.
Total number of tokens, who issues them?Tokens are issued once by our developers, in an amount covering an investment of $ 7,340,000. After the redemption process, the tokens will be publicly destroyed.
What is the position of the government of Laos to the ICO, what will happen if they follow the path of China.At the moment, this issue is not regulated by the government of Laos. But even now our business is not tied to the whole of the crypto industry, so that in the future they will not be able to influence for us.
And what if the demand for bananas disappears and the price falls below $ 1?As practice shows, the price of bananas and demand is always high, primarily due to worldwide popularity.
Why sell to China, and not to Europe or Japan?China at this stage buys out all batches of bananas without a trace and it's a close neighbor, maybe in 3-4 years we will additionally enter the Japanese market.
In which country is the jurisdiction of the campaign?The company and the plantations are in Laos.
Bonuses for participation in ISOThe first million tokens will be sold at a reduced cost (during the pre-ISO), contests with prize funds (BCO) will be held among the participants of social media (facebook, telegrams, etc.), at the end of September 3 trips to Laos will be raffled. For up-to-date bonuses and conditions of receipt, you can follow on the telegram channel - t.me/bananacoineng
How can I invest?Detailed instructions are on the main page of the site, if necessary, support in the chat of telegrams can help you. The easiest way is to transfer the etherium to a smart contract from your personal wallet with the erc223 standard. The tokens return to your wallet automatically after confirmation of network.
Is the number of tokens limited?Yes.
What if the minimum amount of investment is not achieved?Preliminarily the minimum amount of investments will be closed by few real investors.
The ERC223 standard of the token, what is it?This is the most modern standard for a token based on the Etherium network. It will support the transparency of transactions with investors. Important: your etherium wallet must support this standard to obtain tokens.
Will you conduct other ICO in the field of agro-industry?We certainly do not plan to conduct animal breeding fees, but after the success of the BananaCoin project, we consider such areas as mango, avocado and coffee.
If the following year is poor or natural disasters will occur?In Laos, there is no access to open waters (oceans), so natural disasters are the exception, and most of the plantations are on highlands and hills where there are no strong winds, but there are regular rains - therefore, good yields are typical for this region.
Why did you not find for classical investors?In the course of the project, we have many proposals from potential investors not from the field of crypto, all participants of the investment will receive equal conditions.
How to find the cost of one token relative to Etherium or Bitcoin?The cost is calculated automatically at the time of confirmation of the transaction by the network based on the average value of the price on the exchanges.
I want to make payment in dollars, how to do it?For beginners in the field of crypto currencies, there is a detailed instruction on the initial page. If it is a large investment (from $ 100,000), the organizers are ready for a personal meeting.
On the main page of the site and in my personal account, various addresses of directions to the etherium, where to pay?If you pay from a personal wallet, with the erc223 standard, you can pay directly to the address of the smart contract (address on the main page), the tokens return in automatic mode. If the exchange is with a stock exchange, exchanger, etc., then it is necessary to use a personal cabinet, tokens will be credited in it.
On which exchanges will the tokens be traded?This information will be published in October, at this stage negotiations are in progress
How will the tokens be redeemed?We are developing a transparent algorithm for open redemption. Previously, this will be the redemption of tokens from exchanges, and we also consider connecting the capabilities of our site for this purpose.
Are there any restrictions for participation in ICO?By purchasing a token in the course of ICO, or in any other way you agree that you are not a citizen of the United States, Singapore, Canada, or any other country where tokens are equated to securities. Also, you must know whether you are violating the law of your country.
I want to exchange tokens for bananas, will you send them to me?The most profitable business model for us is the sale and transportation our products to the nearest neighbors. If you are in China and ready to buy large quantities - contact us. In other cases, you will have to transport yourself personally.
Why do bananas cost 1 USD in my nearest store, and do you say in your business plan that the minimum export price is 1 USD?Bananas that are sold in stores are Cavendish and Williams, the export price of which is not more than 0.25 USD. The sort of bananas Finger Lady, which we grow, is the most expensive and popular in the market of China. The export price reaches 3.5 USD per kg.
Why do not you use only classical methods of attracting investments?Good question. First, attracting private investors can lead to the consequences of Krylov's fable "Swan, Cancer and the Pike." We are professionals in our business and we know how to make a successfull banana business. Secondly, attracting money through the ICO does not give investors a share in business, it is a financial instrument, after fulfilling obligations on which the business will remain in the hands of the team. Third, the BananaCoin project for us is the start of a future large-scale project, we want to go through the business that we understand to pass the "fire of water and copper pipes" ICO in order to approach the new project in Lao PDR with the already successful case.
Are those people from the project lead on the front page actually real? Have they been verified in some way?We are real. You can anytime come to our plantation in Laos, we are making a lottery between pre sale investors - random from pre sale guys will come to our plantation and check that we are real!
How you current plantation works? Who owns land? Who works on plantation?Our company rents the land for plantation from local peasants and they also work on that plot getting paid salary for that.
