Published 4 years ago.
About a 3 minute read.
Almond, a groundbreaking economic framework that aims to tackle the world of sustainable consumer goods, rewards those who make an effort to purchase sustainable products and help to combat cheap consumer goods.
Almond has taken the next step in its
growth trajectory by partnering with global investment platform TokenMarket.
The partnership comes as part of Almond's plans to launch its own Security
Token Offering (STO), as well as its own centralized
later this year.
Launched in the
in June, Almond is a new economic model and blockchain application
for iOS and Android designed
to incentivize consumers to live more sustainably, reverse-engineering their
wallets to become a tool in the fight against environmentally destructive
business practices. The app is aiming to help combat cheap consumer goods by
rewarding users for buying sustainable products, offering transparency in
and helping sustainability-driven businesses to grow.
Almond follows in the footsteps of apps such as
— which provides food shoppers detailed sustainability information on potential
purchases for more informed decision-making — and takes the process a step
further, by incentivizing better buying habits. The Almond Coin is a
stablecoin designed to encourage users to replace the goods and services they
buy with more sustainable alternatives, which have been approved by the Almond
Foundation. Consumers of these sustainable products will be incentivized with
Almond Coins worth 2 percent+ of the items wholesale value. To receive these
tokens, users will need to scan a unique Almond Matrix Code (AMC), located on
the packaging of the product or via a digital receipt, that will contain
information about the product's story, as well as the supply chain and products’
CO2 footprint. Since November 2018, Almond has been trialing its IoT and AMC
system with UK-based organic sparkling water brand FACT.
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Consumers are rewarded for taking positive actions through a combination of
'Almond Coins' (a fiat-backed
stablecoin) and 'Impact Points' (which improve status and unlock extra
benefits). Along with transparency, the consumer earns crypto rewards that can
be used for future purchases or, at a certain amount, cashed in via Paypal.
Almond says it will offer brands that meet its environmental and social
standards a marketplace to reach new customers, along with a robust set of tools
and services designed to scale their market access and grow sales — ex: brands
get anonymized information about the location of consumption of their product
when their items are scanned.
TokenMarket will be playing an integral role in the Almond project by delivering
a set of building blocks — including marketing, advisory services and
constructing the token issuance — which will enable the project to run smoothly.
"Almond is designed to ensure that those who are shopping sustainably and truly
changing their behaviour are rewarded for doing so,” said CEO Oliver Bolton.
“TokenMarket's vast experience in the world of token issuance, advisory and
technology meant that working with them was an easy decision. We are excited
about our partnership with TokenMarket and the future ahead."
receiving acceptance into
Cohort 4 of the Financial Conduct Authority's Sandbox in July 2018, and
new STO Service in September
2018, TokenMarket will ensure that the delivery of Almond's product is both
compliant and regulated.
"Sustainable consumerism is an issue that we feel needs to be addressed.
Almond's work is truly pioneering the way in which people can shop sustainably,
incentivizing them to know more about what they are buying and using blockchain
technology to track its supply chain,” said Ransu Salovaara, TokenMarket’s CEO
and co-founder. “TokenMarket is proud to be working with a company that can
truly help to change the way in which consumers shop."
Published Feb 20, 2019 7pm EST / 4pm PST / 12am GMT / 1am CET