Argentine mining industry plans to use Cardano blockchain technology to tokenize lithium

Odaily reports that Cardano has partnered with Atómico 3, Zengate, and Alto Grande to launch what is claimed to be the world's first lithium tokenization project in Argentina, scheduled for launch in Q1 2025. The project will use Cardano's blockchain technology to convert the ownership rights of lithium into digital tokens, allowing investors to trade fractional shares of the mineral without the need for physical handling or ownership. This process aims to democratize resource access through secure and immutable blockchain transactions, increase liquidity, and facilitate international trade. Argentina hosts the world's largest lithium deposits, with the majority concentrated in Catamarca, Salta, and Jujuy. This metal is not only the cornerstone of electric vehicle (EV) batteries and renewable energy storage, but also crucial for the global transition to clean energy. Some analysts estimate that the value of the EV industry alone could reach $1.3 trillion in the next three years, driven by growing global demand. (CryptoPotato)