Abstract:
Digital information and data are crucial drivers of progress in various industries, including
mining, where data-driven decision making optimizes resource extraction, enhances safety,
and ensures sustainability. The adoption of digital technologies like artificial intelligence (AI)
and the Internet of Things has amplified the importance of digital information. However, the
integrity and security of this information are paramount, leading to the exploration of blockchain
technology as a potential solution for secure digital value exchange in mining. This research
examines blockchain's capabilities, drawing insights from its applications in sectors like banking,
government, healthcare, and entertainment, and evaluates their relevance to mining's core value
chain processes. The study identifies blockchain's distributed ledger technology, cryptographic
security, and decentralization as unique advantages that can revolutionize mining by enhancing
transaction speed, reducing costs, and improving supply chain transparency and compliance with
sustainability standards. Blockchain's transparent and auditable records can enhance business
transparency, fostering trust among stakeholders, including investors and regulatory bodies. The
technology's consensus mechanisms and smart contracts further promote trust in collaborative
ventures. This research provides a foundational understanding for decision-makers in the mining
industry to evaluate blockchain's feasibility and potential return on investment, guiding strategic
planning and resource allocation for blockchain applications. By leveraging blockchain, mining
companies can optimize operations, improve sustainability practices, and establish a robust
foundation for future growth, positioning blockchain as a transformative technology in the sector.
