# Introduction **Introduction** LAXMINT is a novel blockchain-based fintech initiative focused on transforming the Artisanal Small-scale Gold Mining (ASGM) industry. ASGM contributes approximately 20% of global annual gold production but remains significantly underserved by traditional financial institutions. These institutions often avoid funding these projects due to perceived risks, lack of transparency, and operational complexity. This financing gap leaves artisanal miners reliant on informal and exploitative sources, restricting growth and exacerbating environmental, social, and governance challenges. Leveraging blockchain technology and token-based financing, LAXMINT addresses the critical funding barriers faced by artisanal mining communities, enabling access to capital for crucial activities such as machinery and modern technologies, internationally accredited geological assessments and mining activities. Through strategic joint ventures with accredited artisanal mining companies, we will create transparent, fair, and mutually beneficial partnerships. ​ \ Additionally, LAXMINT will develop technology solutions to enable innovative ways of formalising the entire industry by harnessing the potential of future technology. This will empower local communities involved in direct mining activity and it will enable governments to address specific challenges which include: * Upgradation of the rural communities to bring them to the forefront of society. * Tracking of natural resources. * Additional employment opportunities. * Development of rural infrastructure and services. * Environmental preservation. * Increase transparency of the mining supply chains. Our goal is to positively disrupt this industry by setting trends for a new global standard in finance, ethical mining practices and non-exploitative sustainable industry development. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://laxmint.gitbook.io/litepaper/introduction.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.