Unusual Movements in the Business Market with BlockChain
We’re finally seeing what the hopeful few have been talking about for years, business adoption of crypto. An ICO I thankfully invested in early in 2017, HIVE is doing incredible. Now my wife asked I look into something called Banana Coin. If you’re at all like me, you immediately assume this is another trash token made as a joke by someone to see how much money they can get from morons. It turns out; this is in my mother-in-law’s home province. A company has been growing bananas in Vientiane, Laos for approximately three years now since early 2015 and they want to expand. I don’t know much, anything, about commodity stocks, but this token seems to have a legitimate purpose very similar to the conventional investment arena. Their ICO is ongoing and from my perspective is a community service with potential for profit.
This is by far the most straightforward token I’ve ever had to explain. One token represents 1 Kilogram of bananas from the company. Seriously, that’s it. Their primary export market is China, which we all know is economically growing at near the speed of the U.S. during the 1950’s. The token can be exchanged for bananas on site, but also allows for trade just like the wheat or oil market. It is important to note that commodity markets can be extremely volatile. For instance, if China decides to place an embargo on Laos, there is nothing we can do but cry. As the primary market, the company would likely fail, and this token would become worthless. If China puts some economic help in place to encourage more importation of bananas from Laos, we may see a massive spike in price. The only reason to hold this token is in hopes of a big price spike. There is also no guarantee that it isn’t a scam. Just because they say they will accept the token for bananas doesn’t mean the company will after they get enough money to buy the land they want.
Bottom line, if you have the money, want to take the gamble of potentially doubling it, and want to support a growing 3rd world economy, throw some money at it. If that isn’t you, then I’d advise staying clear. Until I see some more documentation and communications from the company, this remains at a C, invest at your own risk. I threw in .5 ETH, but only because I can afford to lose it, not because I NEED the potential double or triple profits.
My referral link if you want to invest AND support the show: https://bananacoin.io/referral/eba97f855693a5d1ed81a584b3489552
Business is shifting
You might be wondering why I’m talking to you about a commodity token, and especially bananas. This goes to show the ever-shifting crypto market and the adaption of business to it. We’re starting to see the international market adopt crypto. This brings me to our next spotlight, HIVE. They have done for companies the other side of what PROOF has done. As a business, PROOF allows you to tokenize and ensure your business with ease. HIVE, on the other hand, will enable you to get a loan, give credit, or accept loaned crypto in exchange for retail products. After the transaction complete, you are rated. This process, without the rating, is incredibly typical in the retail industry, but HIVE has taken it a step farther.
Ways to support the Show and get a top-notch product:
Want to start into crypto safely and comfortably?
Securely store your crypto with a Ledger Nano S
Need to do a crypto exchange
A VPN is surprisingly important, support the show and start surfing securely.
Check out Binance, one of the most diverse exchanges on the market.
With HIVE you have Lenders, people with money that want to make more of it by letting retailers borrow it. You have borrowers, retailers that need capital for things like a Spring Clothing line and can’t get the small loan from a bank. HIVE has created a platform that facilitates lenders and borrowers working together. You as a business owner can now start building your business credit score while initially paying a higher interest rate, but still getting the working capital you need. I as a lender can do my due diligence and research you, utilizing some of HIVE’s work and decide to lend you working capital. You get your spring clothing lineup, and I get my money back in monthly payments, just like a credit card or bank, but with a little higher of interest because of the risk.
Now, you have been using the system for a few months and successfully paid back your loan. Now it’s time for the winter clothing line up, and you received a favorable rating from your last lender because of on-time payments, now you get a lower interest rate. There is a lot more to this, but I will get into a full review of HIVE next week. I’ll give away free HIVE tokens to anyone who made it this far, if you post a comment/question, rate the podcast, or follow the FB group and send me a screenshot to Josh at BuildingCrpyto.Today. It’s a surprise how many, but it will be a couple hundred, ask and see…
Interested in getting started with Bitcoin or Crypto in general?
Looking to learn more about starting in crypto, check out the ultimate beginner’s guide.
Listen to the Building Crypto Podcast & connect with us at:
Also published on Medium.