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Interview with LumiShare Co-Founder and CEO Ben Sharonby@penworth
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538 reads

Interview with LumiShare Co-Founder and CEO Ben Sharon

by Olayimika Oyebanji March 28th, 2023
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Ben Sharon, co-founder and CEO of LumiShare, recently announced the successful CertiK audit of his digital asset management company. Lumi share has launched the world’s first Trust token, LUMI, which is backed up by three uncorrelated assets (Gold, Cash and Technology) Lumishare has also introduced the concept of "Proof of Transparency," including " proof of Gold"
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Israeli-born entrepreneur Ben Sharon recently took to Twitter to announce the successful CertiK audit of LumiShare, the digital asset management company he co-founded in 2021.


With Ben as the co-founder and CEO of LumiShare, the company raised $3.2 million in December 2022 in a seed round that was led by Sheikh Mohamed Bin Ahmed Bin Hamdan Al Nahyan of the Abu Dhabi royal family.


Ben and I recently sat down for this interview. Read on!


Thank you, Ben, for finding the time for this interview. What's your route to web3 and blockchain?

I come from the land of Start-ups, Israel. I am a serial entrepreneur, and prior to starting LumiShare, I had other ventures in digital marketing where we used to provide SMM services to Start-ups, beyond that, I used to have an IT & Cyber Security company.


Since 2016, I have been investing, trading, and reading about a lot of web3, blockchain, and NFT projects, and I read a lot of White Papers on various projects. A lot of people describe me as a geek. From 2016 onwards, I started to follow a lot of projects and tried to understand the market in general, and that is when I started liking the fascinating world of web3 and blockchain.


What is the story behind the founding of LumiShare?


Having done thorough research across various crypto projects, I got to know of the current problems in the cryptosphere, and hence started LumiShare to solve those problems and with a broader vision to bring trust and transparency in the world of Crypto, Blockchain, and Web3.


There are three major problems that we are solving: one, the lack of mass adoption in crypto and NFTs. The two-sided marketplace lacks a breadth of products with underlying value, and UX is still of low quality. Two, there is no efficient market for real assets funding and investing by tokenizing it via NFTs using blockchain technology. And, lastly, the lack of transparency in web3 projects.

Why is LumiShare called Gold Standard 2.0?

Through a combination of human capital, technology, cash, and gold, we have created a new economic method driven by the innovation of blockchain and relying on traditional economics (specifically the US economy until 1971).


With a vision to bring transparency and trust to the crypto markets, LumiShare has launched the world’s first Trust token, LUMI, which is backed up by three uncorrelated assets (Gold, Cash, and Technology).  LumiShare has also introduced the concept of "Proof of Transparency," including "Proof of Gold" and "Proof of Funds' in line with its vision of being 100% transparent to the world.


The LUMI 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.


Additionally, we at LumiShare, are creating an assets-backed NFT Marketplace is a financial ecosystem of tokenized renewable energy assets and digital transactions around a community of consumers, investors and businesses.


Due to these uniquenesses in our ecosystem and the use of GOLD to back our tokens transparently, we are calling LumiShare a Gold Standard 2.0

As innovators in web 3, what market gap did you discover?


As I mentioned before, I saw that there are four major gaps in the blockchain, crypto, and web3 market that no one is solving, and we want to solve that. There is a lack of mass adoption of crypto as only 5.3% of the people in the world hold crypto and NFTs.


Opensea, which is the biggest NFT marketplace in the world, reported there are 90% scam NFTs on their platform, and also we believe the two-sided marketplace lacks a breadth of products with underlying value, and UX is still of low quality. There is no efficient market for real assets funding and investing by tokenizing it via NFTs using blockchain technology. And the lack of transparency and trust in web3 projects is a major drawback.


Gold vs. Bitcoin is currently a trending topic in crypto, with relevant data showing the benefits and drawbacks of both assets. How do you describe this comparison?

The comparison between gold and Bitcoin is an interesting and complex one, with both assets having their own set of positives and negatives. I think of the comparison from 4 points of view.

One, as a Store of Value. Both gold and Bitcoin are considered stores of value, with investors seeking to preserve their wealth by owning them. Gold has been used as a store of value for centuries and is considered a "safe haven" asset in times of economic uncertainty, like the uncertainty we are seeing now due to the collapses of 3 US banks and Credit Suisse from Switzerland. Bitcoin, on the other hand, is a relatively new asset that has gained popularity as a digital store of value.

Two, in terms of supply, Gold is a physical asset that is mined from the earth, and its supply is finite. While new deposits of gold may be discovered, the rate of production is relatively slow. Bitcoin, on the other hand, has a fixed supply of 21 million coins that will ever be created. This fixed supply has contributed to its scarcity and value.

Three, in terms of portability. Bitcoin is a digital asset that can be easily transferred and stored, while gold is a physical asset that is bulky and heavy. This makes Bitcoin a more convenient asset to hold and trade, particularly for investors who are looking for a more flexible and mobile store of value.

And four, in terms of volatility. Bitcoin is a highly volatile asset that can experience large price swings in a short period of time. While gold can also experience price volatility, it tends to be less extreme than Bitcoin. This volatility makes Bitcoin a more speculative investment, while gold is often considered a more stable long-term store of value.

Is regulation stifling the growth of the crypto industry?


The impact of regulation on the crypto industry is a complex issue with arguments for and against it. Here are some points to consider:one, regulation can help protect investors from fraud and other risks associated with the crypto industry. This can increase investor confidence and attract more mainstream adoption of cryptocurrencies.


Two, the lack of regulation in the early days of the crypto industry allowed for illegal activities such as money laundering and financing of terrorist activities to occur. Regulation can help to prevent these activities from taking place and reduce their impact on the industry.


Three, regulation can help to increase the legitimacy of the crypto industry and its assets, making them more acceptable to mainstream investors and institutions. This can lead to increased adoption and growth of the industry.


Meanwhile, there are strong arguments against regulation which range from

innovation-stifling to centralization to over-regulation. It's true that regulation can slow down the pace of innovation in the crypto industry, as companies and developers must adhere to strict guidelines and regulations. This can make it difficult for startups and smaller players to enter the market and compete with established players.


It's also true that regulation can lead to centralization of the industry, as larger players who have the resources to comply with regulations become dominant, while smaller players are pushed out of the market.


Lastly, excessive regulation can also be harmful to the industry, as it can create a barrier to entry and stifle innovation. This can lead to a loss of competitiveness and innovation, reducing the potential for growth and development of the industry.


In conclusion, while regulation can have some positive effects on the crypto industry, such as increased investor protection and legitimacy, it can also have negative impacts, such as stifling innovation and centralizing the industry. Therefore, it is important to find a balance between regulation and innovation to ensure the sustainable growth of the crypto industry.

With the recent SVB collapse, is it Bitcoin's time to shine?

It is important to note that cryptocurrencies, including Bitcoin, are still a relatively new and volatile asset class. They can experience large price swings and are not immune to market fluctuations. While Bitcoin and other cryptocurrencies may provide an alternative to traditional banking systems, they are not without their own risks and limitations.

The collapse of SVB is not necessarily an indication of Bitcoin's time to shine, and investors should approach cryptocurrency investment with caution and a thorough understanding of the risks and limitations of these assets.

With security in mind today, why should the average investor trust LumiShare?

We have launched an assets-backed NFT Marketplace. With a vision to bring transparency and trust to the crypto markets, LumiShare has launched the world’s first Trust token, LUMI, which is backed up by three uncorrelated assets (Gold, Cash and Technology).  LumiShare has also introduced the concept of "Proof of Transparency," including "Proof of Gold" and "Proof of Funds," in line with its vision of being 100% transparent to the world.


The LUMI 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.

What are you bullish on? Bitcoin or Gold?

Both Bitcoin and Gold have unique characteristics that make them attractive to investors. Gold has been a store of value for thousands of years and has a track record of retaining its value during times of economic uncertainty. Bitcoin, on the other hand, is a relatively new and decentralized digital asset that is seen by many as a hedge against inflation and a potential alternative to traditional currencies.


Ultimately, the decision of whether to invest in Bitcoin or Gold (or any other asset) should be based on individual investment goals, risk tolerance, and a thorough analysis of market trends and data. It is important to note that both Bitcoin and Gold are volatile assets, and investors should be prepared to withstand significant price fluctuations.

Any parting words?

LumiShare has attracted a growing user base of informed and empowered investors. The Private Office of His Highness Sheikh Mohamed Bin Ahmed Bin Hamdan Al Nahyan from the Royal Family of Abu Dhabi has joined as the official partner and investor. LumiShare has an active community of 50K+ members across its social media platforms.


Our Smart contract has been audited by the best auditing company in the world: CERTIK


Our talented team consists of top experts from the Blockchain, Fintech and Global Banking industries, including seniors from BlackRock, Polygon, Ethereum, Meta(Facebook), J.P Morgan, Goldman Sachs, Dubai Gold Exchange, Microsoft, Google, DE Shaw, Credit Suisse, Oxford University, OpenSea, AAVE, etc.


We have recently been awarded as “The Most Innovative Blockchain Ecosystem of The Year 2022” by Entrepreneur Magazine (Middle East). We also got another award of being “One of the Top 20 Most Promising Companies in the World, 2022” from Business world magazine.