Making Nuclear Markets Work Onchain | Alex Dolesky, Uranium Digital

Feb 3, 2025

Alex Dolesky, Founder of Uranium Digital, is revolutionizing uranium trading by building the first institutional-grade spot market on Solana. He discusses why uranium, a vital power source for 10% of global electricity, remains bound by outdated trading methods. The conversation highlights the surge in nuclear energy’s demand, the potential for blockchain to modernize the market, and the exciting prospects for small modular reactors. Dolesky emphasizes the importance of transparency and financialization in transforming the uranium landscape.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

ANECDOTE

Uranium Market Discovery

Alex Dolesky became bullish on uranium but couldn't find a spot market.
This led him to research the market and eventually build Uranium Digital.

INSIGHT

Uranium Market Overview

Uranium is mined mainly in Kazakhstan, Canada, Australia, and Namibia.
Its energy density is much higher than wind or solar, with a 93% capacity factor.

INSIGHT

Uranium Market Complexity

The uranium market is opaque and complicated, with trading done through private deals and long-term contracts.
Uranium Digital aims to create a transparent, efficient spot market on Solana.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

In today's episode Alex Dolesky, founder of Uranium Digital, explains why a commodity powering 10% of global electricity still trades through phone calls and decade-long contracts. After discovering he couldn't express a bullish view on uranium like other commodities, Alex set out to build the first institutional-grade spot market on Solana, bringing transparency and efficiency to one of the world's most archaic markets. Today's conversation explores uranium's critical role in powering AI data centers, why traditional institutions are finally embracing crypto infrastructure, and how modernizing markets could accelerate nuclear's renaissance. Enjoy!

- -

Help us shape the future of Empire. Fill out our audience survey and give us your thoughts: https://empire-31ed59.beehiiv.com/forms/01a0ba12-61d0-4a12-a6c6-8bbcdb3b0060

Start your day with crypto news, analysis and data from Katherine Ross and David Canellis.

Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts

Follow Alex: https://www.linkedin.com/in/alex-dolesky-005676181/

Follow Jason: https://twitter.com/JasonYanowitz

Follow Santiago: https://twitter.com/santiagoroel

Follow Empire: https://twitter.com/theempirepod

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

- -

GEODNET’s native token, GEOD, can be easily mined with a GEODNET Satellite Miner, presenting a unique opportunity to generate passive income. By setting up a GEODNET base station, you can join this groundbreaking Web3 ecosystem that is powering the future of AI and robotics.

Join the revolution today and learn more at https://geodnet.com.

- -

Unichain is a fast, decentralized L2 that’s built to be the home for DeFi and liquidity across chains.

To stay updated on news including the upcoming launch of Unichain, visit www.Unichain.org or follow @Unichain on X.

- -

Petra Earn was designed to make DeFi more accessible for everyone—from seasoned pros to DeFi beginners. Manage your balance, claim rewards and deposit directly from the app.

By supplying USDT to Aries lending pools, users have the potential to earn a higher yield compared to some traditional methods.

Not financial advice. Participating in Defi carries risks. To learn more visit petra.app/earn

- -

Get up to speed on the biggest stories in crypto each week. In five minutes.

Get the Bitwise Weekly CIO Memo delivered directly to your inbox at bitwiseinvestments.com/ciomemo/empire

- -

Timestamps:

(00:00) Introduction

(00:39) Inside the Uranium Market

(12:11) Exposure to Uranium

(20:49) KYC Requirements

(25:11) Trading on Crypto Rails

(30:38) Geodnet Ad

(31:36) Uniswap Ad

(32:26) Who Benefits from this Market?

(38:10) Evolution of Uranium Markets

(43:19) Aptos Ad

(44:03) Bitwise Ad

(44:53) The Case for Nuclear

(58:19) Architecture Decision

- -

Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.