UAE investors will be among the first in the world this week to join a global community built to give nickel production a greener future, while backing research to develop new nickel-based products.
The community is being created through the launch of a new crypto token by entrepreneur Safi Qurashi, CEO of NewTek, who aims to capitalise on increased demand, and shortage of supply, which make Nickel a hugely attractive commodity.
The new Nikel token’s listing tomorrow on the Digital Financial Exchange (DIFX), and on Coinstore, will give it immediate exposure to more than 1.8 million registered crypto exchange users in 175 countries.
It has been issued by NewTek’s operating arm for the token, Nikel Technology Company. Qurashi chose to launch the Nikel token in Dubai based on its emergence as a cryptocurrency hub, and his market knowledge of the Emirate, where he lived and worked for 16 years.
“The company will focus on acquiring and funding activities that are both directly and indirectly related to the production of Nikel,” said Qurashi.
“We will concentrate on mining, research and development, and product manufacturing, by partnering with specialists in this area. In the process, we will create a global community which can determine our partnerships, while ensuring a cleaner and better way to produce nickel.”
Qurashi says Nikel Technology Company plans to partner Nickel mines around the globe to ensure fair and sustainable extraction of the commodity.
It intends to engage with like-minded start-ups that use Nikel as a core component for their products and services, and will partner with Nikel research institutions to develop new products based on Nickel.
“Nickel will play an essential role in future technology markets, and we want to position the Nikel Technology Company in the centre of the hurricane,” he said.
“Our token holders will participate in this shared vision of a safe and sustainable economy for future generations. By cutting out the middle man, we give power back to our community, and allow for a transparent way to utilize this essential commodity.”
Tomorrow’s listing on DIFX, the EU-based centralized exchange, and on Coinstore, the centralized cryptocurrency exchange registered in Singapore, makes the Nikel token instantly transferable across the globe, allowing for easier and quicker trading. The token can be traded against fiat currencies as well as cryptocurrencies.
Nickel is a key base metal for building sustainable societies, and its multiple physical and chemical properties make it essential in thousands of products.
It has a major part to play in the future of electric vehicles, sales of which leapt from 450,000 in 2015 to 2.1m in 2020, with growth to 54m by 2040 forecast.
With research showing that 83% of companies saying that AI is a strategic priority for their businesses today, all electronic-based AI will depend on a secure flow of Nickel as the main heating element and resistor.
In the field of sustainable and clean energy, nickel is a key component of most major sustainability products and industries, including batteries, wind turbines, solar cells, bioplants, carbon capturing and storage of nuclear power.
Nickel-based alloys, meanwhile, are increasingly used in aerospace engineering, based on their ability to resist extremely high temperatures, corrosion and constant wear, as well as for their magnetic properties.