Business
Dúté Island – The world’s first asset-backed NFT marketplace for the gem & mining industry
Momentro and The R-Factory in partnership to create the first asset-backed NFT platform for the gem and mining industry.
While the global gem and jewellery industry is currently valued at 85.2 billion dollars, around 90% of the industry in mining countries remains dominated by traditional, family-run businesses. The resultant market has taken on an undemocratic nature, where authentication and certification are the major barriers to entry. If the industry is to be impactfully modernised, a shift of trust and authority seems incumbent. This is where Dúté Island, a partnered project by Momentro and the R Factory, enters the picture with a vision to transform this market through a state-of-the-art combination of blockchain technology, non-fungible-tokens and a decentralized, democratic standpoint.
Dúté Island is a partnered project by the world’s first Gem and Mining Registry that converges the digital and physical worlds with a tokenized NFT marketplace. Using blockchain technology to provide both provenance and security, Dúté Island employs web system algorithms to provide digital certification for precious stones. This would immediately change the distrustful climate of the industry and open doors to the new possibilities of today’s tokenized online economy.
In the early days of the internet, Web 1.0 saw an information economy, where users simply read information online. This was followed by a platform economy with more interaction in Web 2.0 and now, the users of Web 3.0 are keen to read, write and execute transactions online. In the years to come, markets that embrace the rapidly growing revolution of tokenized economies are positioned to take the lead.
Explaining further, Saliya Withana the founder and CEO of Momento said, ‘’We are committed to creating practical solutions for industries using some of the latest web3 technologies. Dúté Island is one of many solutions in our pipeline that will help a high-value legacy sector to embrace the positives of a tokenized economy.’’
By combining traditional stock market principles with a blockchain-based asset registry that guarantees authenticity and proof of origin, Dúté Island is at the forefront of early adaptors to join this revolution as the world’s first asset-backed NFT marketplace for the gem and mining industry. It will provide a simple, user-friendly frontend web interface that will not require above-average knowledge of IT or cryptocurrency for it to be accessible.
“When we developed the structure of this platform, our ethos was to build a very simple structure for both sellers and buyers in order to make it seamless and simple even for the technologically not so savvy. We used special front layer functionalities with blockchain-based database technologies which help users to use the platform without even having a crypto wallet,’’ explained Harsha Mahes, CTO, R-Factory.
Dúté Island will be a platform that the Gem and Mining Industry can depend on in the future and a place where the trust and authenticity behind all transactions are irrefutably genuine.
Momentro provides global growth solutions and strategies for various sectors by way of a total ecosystem approach from ideation to execution and has worked with global brands such as Petronas, Honeywell and MSD Pharma. The R- Factory is an award-winning software design, development organization that currently works together with Momentro on the latest blockchain technologies. Discover Dúté Island today.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
