CHICAGO, May 3, 2022 /PRNewswire/ -- Café Holdings Inc. [OTCPINK: COFE] today announced it has concluded the development of blockchain technology that the Company believes will be a revolutionary disruptor to the current and growing $50 billion a year global green coffee market. All coffee is green coffee pre-roasting.
It is widely understood that the global green coffee market requires urgent change to protect the livelihoods of coffee smallholder farmers, of which over 5.5 million of the estimated 12.5 million global smallholder farmers have been assessed as living in poverty with almost a quarter of that number living in 'extreme poverty' according to research houses Carto and Enveritas. These smallholder coffee farmers represent over 70% of global green coffee market.
Café Holdings, Inc., entered into an agreement with blockchain and crypto specialist Ag-Tech developer Iron Sight Industries, Inc., led by former US Army Intelligence professional and entrepreneur Daniel Ball to develop and maintain the new blockchain platform. The new platform has been designed to bring equality and sustainability to millions of smallholder coffee farmers around the world, whilst maintaining the highest environmental, social and governance standards for buyers under increasing pressure to protect the livelihoods of their suppliers and to reverse the current unsustainable and damaging trading system.
The Company has entered into a conditional agreement to licence the platform to a newly established not for profit Company, Kaldi Foundation, for an annual fee which will include the running and oversight of the blockchain platform. The term is for an initial 25 years. Kaldi, through a separate and newly regulated entity, will be engaging in an ICO within the coming months.
Café Holdings, Inc. intends to change its registered name to Coffee, Inc. subject to FINRA approval, during the month of May. The ticker symbol will remain COFE.
SOURCE Cafe Holdings Inc
