LumiShare, Interview with CEO Ben Sharon

LumiShare CEO Ben Sharon

LumiShare, a Dubai, UAE-based developer of a blockchain-based digital asset management ecosystem, recently raised $3.2M in funding.

In conjunction with the announcement, CEO Ben Sharon answered our questions about the company, the services they plan to provide, the funding round and future plans.

FinSMEs: Hi Ben, can you tell us a bit more about yourself? What’s your background?
Ben: I come from Israel, a country known for its vibrant start-up scene. As a serial entrepreneur, I gained experience through various ventures such owning a digital marketing for startups and an IT & Cybersecurity company ,and in addition I advised and opened international markets for trade and investment to startups. 

Since 2016, I have been investing, trading and reading about a lot of web3, blockchain, NFT projects and I read a lot of Whitepapers of various projects, a lot of people define me as a geek. Having done thorough research across various crypto projects, I have gained a deep understanding of the current challenges in the Crypto space. To solve those challenges, I found LumiShare, a company with a broader vision promoting trust and transparency in the world of Blockchain, Crypto and Web3.

FinSMEs: Let’s speak about LumiShare. What is the market problem you want to solve? What is the real opportunity?: 
Ben: One of the main issues is the loss of trust in fiat money due to its debasement over the past decade, including the 40-year high inflation. It initially drew people towards cryptocurrencies but off late the trust in crypto is dwindling down as well. 

The cryptocurrency market has struggled to achieve mass adoption due in part, to a lack of transparency and the presence of fraudulent projects. These issues have become a major barrier in the past 3-4 years, hindering the widespread adoption of crypto. According to Triple-A, only 4.2% of people have entered the crypto market. One significant factor behind this is the lack of education and awareness about what are cryptocurrencies and how they work. Many people may not struggle to see the real value behind current use cases in the industry.

FinSMEs: What are the features differentiating the product from competitors?
Ben: At LumiShare, we differentiate ourselves through a combination of human capital, innovative technology and traditional economic principles using cash and gold. Our new economic method is driven by blockchain innovation and relies on traditional economics based on the US economy prior to 1971.

With a vision to bring transparency and trust to the crypto markets, LumiShare has launched the world’s first ‘Trust Token’ called SRG, which is backed by 3 uncorrelated assets – Gold, Cash, and Technology.  To promote 100% transparency to the world, we have also introduced the concept of “Proof of Transparency”, including “Proof of Gold” and “Proof of Funds”.

The SRG token is NOT a stable coin and its floor price will always be correlated with the all-time high market cap value, making it a unique token with limited downside and unlimited upside potential.

In addition to the SRG token, we at LumiShare are creating an asset-backed NFT marketplace that will serve as a financial ecosystem for tokenized real assets such as mines, real estate, agriculture, and renewable energy assets. The NFT Marketplace will also serve as an ecosystem for digital transactions around a community of consumers, investors and businesses.

FinSMEs: You just raised a new funding round. Please, tell us more about it.
Ben: Sure, we raised a total of $3.2 Million by selling tokens. This includes a $2.2 million investment by His Highness Sheikh Mohamed Bin Ahmed Bin Hamdan Al Nahyan from the Royal Family of Abu Dhabi who has joined as our official partner and investor.

LumiShare benefits from the valuable commercial and governmental relationships extended by our partner and will capitalize on key opportunities within the UAE at launch. We are also currently doing our Pre-sale of SRG tokens.

FinSMEs: Can you share some numbers and achievements of the business?: 
Ben: We have built an active community of over 40 thousand people across social media platforms including Twitter, Telegram, Discord, Instagram, and TikTok. We have established an ambassador program with more than 100 ambassadors from over 45 countries. In terms of recognition, we have received several awards, including the Entrepreneur Magazine’s Best Innovative Blockchain Ecosystem of the Year 2022, and listed as one of the 20 most promising companies by Global Business Leaders Magazine. I have also had the opportunity to represent Lumishare in various marquee conferences around the world, including Token2049 in London, Singapore Fintech Festival, and Africa Blockchain Summit among others. I have also been invited to speak at the World Economic Forum in Davos in January 2023.

FinSMEs: What are your medium-term plans?
Ben: First, we want to list SRG tokens on a tier 1 launchpad after the completion of our Pre-Sale. Then we plan to list the tokens on 7 of the top 15 crypto exchanges. In parallel, we will be building our assets-backed NFT marketplace. 

Given our existing relationships with some of the big players in the Renewable Energy and Agriculture Industry from Israel, UAE and Europe, we will first start with the Tokenization of Renewable Energy and Agriculture assets. We want to launch the first of its kind “green NFTs” and give the opportunity to people to participate in the generation of green and clean energy for the world, which is the most important issue threatening the whole of humankind today.

After we achieve the KPIs that we have set up for ourselves, we will move ahead and tokenize real assets from other sectors such as Gold Mining industry and Real Estate.

Also, as a second priority, given our strong relationships in the gold mining industry, we would like to tokenize the mining assets and empower our partners to easily fundraise through the marketplace.
In addition to these specific goals, we also plan to scale our team globally and raise our Seed and Series A VC rounds.