- Luminos Graha secured government endorsement for introducing the technology of blockchain to nickel mining projects in Sulawesi mines.
Singapore, 13 Sep 2021, ZEXPRWIRE, Renowned Indonesian nickel mining company, Luminos Graha, is pleased to announce the much-awaited collaboration with Sulawesi Central Government for its futuristic blockchain-based mining project, Luminos Mining Protocol. Following the collaboration, Luminos Graha has launched its first-ever cryptocurrency coin. LUMI Coin, as the coin is known as, aims to combine state-of-the-art blockchain technology and smart contracts to increase the efficiency in the Nickel supply chain, amid the global rising demand for Nickel.
Luminos Mining Protocol is a joint endeavor between Luminos Graha Group and Singapore-based leading investment firm, Geneva Capital Singapore with technological support from IdeaFactory by WIliamDevelopment.
“We are excited to share with you all that we have finally been able to win over the support from the Sulawesi Central Government for our innovative blockchain-based mining project, Luminos Mining Protocol. Our aim is to redefine and modernize the nickel mining sector by integrating the cutting-edge technology of blockchain with nickel mining. But, such a state-of-the-art project requires support from the authorities. We are grateful to the Sulawesi Central Government for acknowledging our innovative approach and rendering us the needed support required to turn our project into a reality”, stated Andri, the CEO of Luminos Graha Group.
As one of the biggest exporters of Nickel, Indonesia maintains strict control over mining companies. The company only allows mining companies with a great track record and good operational practices to conduct mining activities and avail concession access. Luminos Graha Group is one of the handful of companies to receive approval from the government.
A name of big repute in the nickel mining space today, the company has been operating for over 2 decades now. Luminos Graha has adopted a real business application approach using blockchain technology to build its own native ecosystem which is supported by offline mining work.
“We have access to the mining concessions of 8 different mining sites in Central Sulawesi. We have plans to boost up our mining operation in the coming year to meet the rising demand for nickel worldwide, especially to cater to the dramatic rise in electric vehicles. With such plans lined up, it was extremely vital for us to secure the support from the Sulawesi Central Government. We are glad that the authorities have believed in us and have stepped forward to support our vision.”
Speaking on, Andri stressed they are geared up to resolve the common problems in the existing nickel mining space. These include- unsafe working conditions; challenges faced with accessing high-quality ore; problems faced with verification of traceable activities; inability to maintain the accuracy of information; complicated mining value chain, and more.
Luminos Graha has developed multiple solutions to combat these problems. To start with, the company has developed the Luminos Mining Protocol which would work to ensure safe working conditions for workers in nickel mines. The advanced blockchain-based project will also help to ensure the quality of the ore with an authentic quality certificate.
Besides, Luminos has strategically incorporated blockchain technology with its mining project to keep transactions traceable. It will keep stakeholders connected on a single chain, thereby enabling a secured exchange of trade documents through the help of smart contracts. Also, the use of blockchain technology will work to simplify the otherwise complicated mining value chain.
Luminos Graha Group’s new approach in mining ushers in a new breakthrough in the field of global cryptocurrency adoption, while proving the application of blockchain technology is not limited to making financial transactions only, but can also be applied to mining and supply chain management.
Luminos Mining Protocol is currently live on public pre-sale, and has already raised 2.5 million USD in the previous round of funding.
For more information, please visit luminosmining.com.
Company : Geneva Capital Pte Ltd company