Bananacoin is a Real Cryptocurrency Based on Banana Prices

Cryptocurrencies are the new-constitute love for companies all over the world, and the object of intense hatred for many governments at the same fourth dimension. Every twenty-four hour period, new cryptocurrencies popular up in the wild, but this new one is but bananas! I mean that both literally and proverbially.

A grouping of software engineers and lawyers take reportedly teamed up with banana farmers from Laos to create 'Bananacoin'. Yes, they named it that.

If it isn't obvious, Bananacoin'southward prices depend on the prices of, well, bananas. The official explanation for the Bananacoin says "a utility token based on Ethereum, pegged to the export price of ane kilogram of bananas." The creators also mention that this is the first blockchain option in the world for participating in the cultivation of organic Laotian bananas; and to top it all off, they claimed that Bananacoins will do for bananas what Uber did for the taxi industry. Whether or not they mean surge pricing is not articulate at this point only information technology's safe to say Bananacoins are aimed at people who want to incentivize the production of bananas in the world.

Naturally, Twitter has been in its ever-dark-green, unforgiving mood regarding Bananacoins, with people making all sorts of jokes, references, and comments on the new cryptocurrency. Here are some of the gems we found on Twitter regarding Bananacoins.

We live in a postal service-parody society where information technology's impossible to invent anything more ridiculous than reality pic.twitter.com/HPGekRKENz

— Zack Bloom (@zackbloom) January twenty, 2018

The tracking of diversified goods multi-actor supply chains is actually i of the more sensible theoretical usage cases of blockchains, merely "#BananaCoin" is merely inherently funny. pic.twitter.com/CIRppqk43V

— ⬢ Jens Wiechers ⬡ (he/him; prefers they/them) (@jwiechers) January twenty, 2018

Whether or not Banancoins assist the cultivation of Laotian bananas is something that is yet to exist seen. However, the idea behind making people invest in bananas in commutation for a cryptocurrency is definitely intriguing. If goose egg else, it's a good way to raise sensation.