Completely bananas: Bananacoin backed by actual bananas’ price invented

Two businessmen leading the banana business company have apparently decided to play on the current hype around the blockchain and cryptocurrencies which still exists even after the huge market collapse which led to the notable change of price of major cryptocurrencies. They now issue Bananacoin, a cryptocurrency backed by the price of 1 kilogram of bananas.

This move will undoubtedly draw the attention of the market towards them and their company, which reminds of that story about Long Blockchain - and, as the statistics data shows, the price of shares of this company, previously known as Long Island Tea, has already faded. Same might happen to the interest of the market towards Bananacoin in the near future.

While this digital coin can be called promotional, it is actually a working concept, whereas the messages about some diamond-backed cryptocurrencies we have seen promoted during the past year still do not show any signs of progress. They do not enter the market and disrupt it, as the founders initially suggested. In case with D1 Coin this can be explained by the roadmap which tells that the trades on Bitfinex and other major exchanges will start only in April this year, but Copernicus Gold seems to have been launched and went largely unnoticed since autumn past year, which might indicate that this technology is not disruptive at all.