Metallika.Inc has announced an intention to expand its footprint in the African and Asia Pacific markets with new partnerships aimed at strengthening the company portfolio of mining projects.
The blockchain-powered company that tokenizes the services of mining natural resources is still in the early stages of negotiations and thus can not disclose the names of its potential partners but the news is expected to break soon.
The information circulating now indicates that the first company contacted is based in Singapore and has a multi-billion dollar market valuation. The partnership is expected to create a lot of positive synergies between the two companies and shows Metallika’s high level of ambition for the region.
There has also been mention of a second company from Kenya that owns big copper reserves in the country. Demand for copper is assured because it is a strategic metal used in many industries including the budding electric car industry.
Demand for copper is growing so much that by 2030, it will outstrip supply by more than 6 million tonnes. An analyst from Rystad energy points out that a deficit of this magnitude would have wide-reaching ramifications for the energy transition as there is currently no substitute for copper in electrical applications.
The partnership with Metallika Inc will benefit both companies and make a difference for local communities as the implementation of the Metallika DAO platform allows them to participate in the mining process effectively utilizing the new platform’s transparency and easy-to-use interface.
The Metallika Decentralized Autonomous Organization (DAO) was created by the company to operate autonomously on the blockchain with the software rules for the smart contract and all financial transactions stored on the transaction blocks.
To ensure ownership for all the DAO participants, the Metallika team deployed distributed database technologies and secure timestamps to organize a secure digital ledger of contracts, deeds and records.
The major product of the DAO Metallika is cloud services that provide reliable and transparent communication between participants in the mining industry. These participants are enabled to form partnerships and also obtain investments at every stage of the mining cycle.
All DAO members have access to IPFS-stored documentation and can oversee approval processes for documentation created during exploration. They can also issue mineral-backed digital commodity backend tokens.
The Metallika Token serves as the utility token that enables the operation of the Metallika DAO to function by granting access to the DAO’s products and services.
One of the most important features of the token is that it can be used within the private Metalika DAO as well as other public blockchain networks such as Binance Smart Chain (BSC) and Ethereum.
The total token supply is 300,000,000 with half (150,000,000) based on the Ethereum blockchain while the remaining half will be built on BSC. The number of supported blockchains may however be increased depending on the needs of the business.