Kaldi Company Ltd, a pioneer in combining blockchain, Web3, AI, IOT-enabled traceability, and a novel crypto economy to revolutionize the coffee value chain and alleviate poverty amongst millions of smallholder coffee farmers globally, announced today that it has received regulatory approval from the Financial Services Authority in the Isle of Man for Kaldicoin, its new digital currency.
This milestone permits Kaldi Company to engage in a range of activities related to convertible virtual currency, including issuing, transmitting, transferring, providing safe custody, administering, managing, and trading the Kaldicoin digital currency under the supervision of the Isle of Man Financial Services Authority.
The global coffee industry is a rising $450+ billion annual market marred by inequalities. 44% of the world’s 12.5 million smallholder coffee farmers, who collectively produce 80% of the world’s coffee, live in poverty. 22% of these farmers and their families are enduring extreme poverty, surviving on less than $1.90 per day.
Kaldi Company is the first company to provide an integrated platform, KaldiMarket™, utilizing blockchain, Web3, AI, IOT-enabled traceability, and a novel, partially but significantly asset-backed crypto economy that creates profitability for smallholder farmers while also providing a higher dollar return for their crops.
It delivers this by linking smallholder farmers directly to global wholesale buyers and passing on savings generated through logistic automation to the farmers. KaldiMarket also addresses critical problems of cost transparency, supply chain inefficiencies, and price volatility within the global coffee industry, so smallholder coffee farmers, their families, and communities can make a profitable and sustainable living from coffee farming.
An innovative crypto economy underpins the coffee trading process on KaldiMarket, where new Kaldicoins (the platform’s native digital currency) are minted based on actual USD-denominated coffee sales on the platform and distributed as rewards for participation to coffee farmers and buying roasters. Kaldicoins are awarded to farmers in addition to the USD income from coffee sales and to buyers as a reward for purchase.
Only farmers can initiate the Kaldicoin minting process by selling their coffee on KaldiMarket, and they receive the largest share of the newly minted Kaldicoins, opening new opportunities to profit from their crops and enabling them to participate in the marketplace’s macro trading success across the rapidly growing green global coffee market.
Daniel Ball, CEO of Kaldi Company, commented, “Today, the crypto-regulatory environment is navigating challenging yet necessary growth. Trusted regulatory oversight is essential for market confidence, and we are pleased to achieve regulatory approval in a respected jurisdiction. This regulatory milestone reinforces our commitment to rebalancing the economics of coffee through our unique supply chain solution and new crypto economy and signals the trustworthiness of our brand in this space.”
Kaldi Company Founder and Chair, Professor Stefan Allesch-Taylor, added, “Kaldi Company is at the forefront of harnessing blockchain technology and tokenomics to drive meaningful global financial impact for millions of the world’s poorest coffee farmers. Kaldicoin is a powerful economic participation unit and profit multiplier designed to capture the money lost in the system to an inefficient supply chain and to pass this wealth to the KaldiMarket participants, the sellers (farmers), the buyers (roasters), and all Kaldicoin holders. This regulation strengthens our commitment to delivering financial empowerment, financial inclusion, and a profitable, sustainable future to smallholder coffee farmers worldwide.”
