Heat the oil to 325°F. Using a flat, sharp peeler, make long strips of taro root and place them into a bowl of cold water.
In a medium mixing bowl, combine the potato starch, garlic powder, onion powder and 1 tsp. salt. Pat the taro strips dry with paper towels then dredge them into the potato starch mix. Shake off the extra coating, place onto plate and carefully drop the taro into the heated oil. Cook for 2 to 3 minutes, until golden crisp. Drain well on a wire rack and season with salt immediately.
Add the olive oil, garlic and shallots to a medium saucepan and cook 1 to 2 minutes over medium high heat. Add the tomato paste and chili pepper flakes and cook for 2 minutes, stirring with a wooden spoon or spatula to avoid burning or scorching. Add the bananas, then the tomato juice and vinegar to deglaze the pan; stir to cook evenly. Turn down the heat and add salt and pepper to taste. Cook 8 to 10 minutes or until bananas are soft.
Pour the mixture into a blender or use an emersion stick blender to purée until smooth, with the same consistency as bottled ketchup — but this one is all natural, and spicy!