Alexander Bychkov is the co-founder and CEO of Bananacoin – the world’s first blockchain option for participating in the production of organic bananas in Vientiane province, Laos.
Human Asia eagerly spoke to Alexander recently.
Can you tell those of us who are not already familiar – what is Bananacoin?
Alexander: Bananacoin is a tokenized crowdfunding to expand banana growing business in Vientiane province, Laos PDR. Incorporated in Laos, we experience problems with funding our business ideas, because banks always have their own criteria and private financiers usually don’t deal with the southern regions. Finally we found solution, to use blockchain community to solve agricultural problems. Originally Bananacoin was a local project, but now after trips around the world we are willing to become a global eco-system to help farmers all around the world who have the same problems as we do. And we also add real blockchain features, like proof of quality tracking. We will need a whole-chain build, from the farmer to the final consumer.
Tell us about your team.
Alexander: Our team consists of very different people, not all of them have background in crypto. We work 24/7 and this is why we need people all around the world. Our main crypto head is Evgeny Khashin, IT developer and entrepreneur. Eugene specializes in Big Data and Stateful services and occasionally plays drums. In Bananacoin, Eugene is responsible for smart-contract and our personal account section.
Holders of 1 BCO token are entitled to 1 kg of bananas. Please explain further.
Alexander: Bananacoin (BCO) is a utility inside our plantation. One BCO is 1 kilogram of bananas that we will grow on the plantation, and funds are collected during ICO. Token holders can trade the token at the plantation, and they need to think about delivery themselves. Step by step, we will try to develop delivery as well but right now it is ex-plantation. If the token holder does not need the actual product he can make additional agreements with us, such as selling their bananas at export price to China and compensate the cost. Pretty simple.
What do you think about government regulations of ICO ?
Alexander: From my point of view, it is just market games. The whole crypto idea was made decentralized and I don’t think it will be possible to regulate it really. On the subject of scams – it exists everywhere in all markets, it’s just the blockchain community is a new and innovative market, so that’s why people talk about scams here.
What are the major challenges that you have encountered so far?
Alexander: The main challenge was getting as much attention as we can as we are a startup. To tell people who we are and our goals for the future. From my point of view, I think we have done well in this regard.
Read also : Mary Northmore – Giving the Gift of a Smile
What is your plan in the next few years?
Alexander: As I mentioned before, our aim is to become a global eco-system to help banana farmers all around the world, and increase the value of Bananacoin with adding more projects inside it, and to make a fruit trading company. We have a very bright future, I am sure.
Alexander, please tell us about yourself, your background and what were you doing before starting Bananacoin?
Alexander: I am 35 years old, and a father of 4. I have been involved in establishing companies in wholesale and retail sales “from scratch” for over 17 years. My responsibility in Bananacoin is marketing and communications.
How did you get involved in the crypto space?
Alexander: I’ve heard about crypto for many years, but actually never got close to it. We started Bananacoin in January 2018 and after that I studied the industry intensively, traveled the world and obtained a good reputation in the blockchain space.
What are you most proud of about your work with Bananacoin?
Alexander: I am proud that we created this project from the scratch. Working 24/7, together with a partner at the beginning, and we’ve gone a long way.
What has been your biggest lesson learned since your ICO?
Alexander: Only work with trusted people, we lost so much money working with people we didn’t know well at the beginning.
Any tips that you would give to aspiring entrepreneurs?
Alexander: Never give up. It may sound simple, but if you are going down, come back more stronger than ever!
You can visit Bananacoin at https://bananacoin.io/
For similar stories, follow us at www.facebook.com/thehumanasia