Enterprise-grade Blockchain solutions platform, XinFin is all set to launch its institutional financial marketplace. The platform, fueled by native XDC cryptotokens offers all the goodness of cryptocurrency systems through integration of smart contracts between buyers, sellers, and financiers. It also facilitates instant cross-border payments and settlements using XDC. As a part of its development roadmap, the platform has also announced the upcoming XDC Pre-ICO token sale where all interested parties can purchase some of the Xchange Infinite Development Contract (XDC) tokens.
XinFin, through its institutional financing marketplace, introduces Blockchain technology to real-world applications involving various institutions, projects, and transactions. The platform is designed to address the existing issues between industries, financier rating systems, and real-time settlement mechanisms. In order to fit the evolving needs of various existing business models, the XinFin team has incorporated several changes to the Ethereum open source architecture. These changes have resulted in the development of a Blockchain infrastructure suitable for a private distributed network of participants spread across the world.
The growing XinFin network comprises of institutions seeking global or local procurements for their projects and suppliers with proven products capable of meeting the requirements, but lack sufficient reputation for financier backing.
Benefits of XinFin Blockchain Marketplace
The XinFin team has listed four specific benefits of Blockchain technology which are leveraged by its marketplace for the following reasons;
a. To be an instant cross-border settlement mechanism through its native token XDC
b. To map smart contracts to real world contracts
c. To use XDC to incentivize financiers to fund projects with low buyer and seller rating
d. To build an equity exchange over XDC for projects that want to raise capital
The Head of Marketing for XinFin Alex Mathbeck, explaining the implementation of smart contracts for real-world applications said,
“We have interest from hospitals looking to acquire machinery, low-income countries who want to build their tourism spots, counties seeking efficient farming equipment, new techniques and cheaper ways to build rural roads and transport, and farming institutions that want training and e-learning programs or alternative ways to hedge weather risks.
Our team of over 30 financiers worldwide is working on mapping smart contracts to real-world contracts and laying the groundwork for all stakeholders to get the projects underway.”
Global supply chain financing today is either dependent on the ratings of sellers and buyers. There is no way to execute promising pilot projects based only on project viability with a low or non-existent buyer and seller ratings. Also, the lack of global real-time settlement and financing mechanisms makes it hard for both project creators and financiers to implement and fund the potential high-risk projects respectively.
Xinfin.org platform incentivizes the financiers by giving smart-exchange facility over XDC for equity investments and risk-hedging through the underlying inflation proof XDC token. The company’s target is to bridge the global $5 trillion infrastructure financing gap that has created a huge disparity between the rich and the poor. Currently, traditional fiat currency financing mechanisms allow projects with high rated buyers and suppliers to leverage their ratings multiple times. However, it totally ignores viable projects with a low or non-existent buyer and seller ratings.
Alex also explained the reasoning behind the choice to run XDC on its own private distributed network, stating,
“The latency time of public Blockchains like Bitcoin, Ethereum, and other crypto coins makes it difficult to build any real-time payments dependent use case. We see great promise in the architecture that has followed, and XDC will be run on a private distributed network. It takes only 5 seconds to complete a transaction on the XinFin XDC network.”
The decentralized Blockchain-based marketplace will not just be limited to the institutions but will also be open for individuals who want to take up the leadership in identifying and initiating projects, crowdsourcing for support and completing the trade and finance over the xinfin.org XDC network.
The underlying Blockchain uses proof-of-stake mining, though a large portion of XDC has been pre-mined. The mining will be available to credible institutions worldwide. The architecture is derived from the Ethereum open source platform; However, it is entirely independent of ether and gas. Xinfin.org is releasing open APIs to use XDC as a settlement and payment mechanism for global remittances, reward points and trading of unutilized inventories.
The Xinfin Foundation is building a strong team of over 100 financiers, Blockchain programmers, functional experts and business development personnel all over the world and all the team bios will be available at the time of marketplace launch. The project has opened its pre-ICO token offerings in limited numbers for its early backers. The native Blockchain token XDC, powering the xinfin.org platform is being listed on various exchanges.
- Storiqa Makes Cryptocurrency Closer To The World – Usual E-shop With A Few Peculiarities For Unusual Currency - November 17, 2017
- American Express Cuts Deal with Ripplenet – Giving Visibility and Speed to Global Commercial Payments - November 16, 2017
- CapLinked Named One of 20 Most Promising Collaboration Technology Providers By CIO - November 16, 2017
- Global Blockchain Technologies Corp. Announces $20M Fund to Invest in Steem SMTs - November 16, 2017
- Augmate Announces First IoT Device Management Platform Using Distributed Ledgers - November 16, 2017
- BitDegree Teams up with Zcoin to Develop Cryptography Course - November 16, 2017
- With Backing from the Biggest Poker Names, CoinPoker Launches Pre-ICO - November 15, 2017
- Jeff Garzik – Metronome GitHub is now public - November 14, 2017
- Livestreaming Pioneer YouNow Doubles Down on Decentralization with Storj Labs Partnership - November 14, 2017
- OriginTrail – Winner of Walmart 2017 Food Safety Innovation Award Announces Presale - November 14, 2017
- Revain Announces Release Of The First Test Version Of The Platform - November 13, 2017
- PikcioChain Receives Huge Pre-ICO Boost by Winning a Place on BNP Paribas’ Fintech Accelerator - November 13, 2017
- Fluree PBC Launches FlureeDB — Scalable, Blockchain Cloud Database - November 13, 2017
- CoinTracking – The Personal Portfolio Monitoring Tool and Tax Tracker for Digital Currencies - November 13, 2017
- OTC Exchange Network Announces that DMALINK has Joined their Early Adopter Program OTC Exchange Network Announces that DMALINK has Joined their Early Adopter Program - November 13, 2017
- Leondrino Exchange, Issuer of Digital Branded Currencies, Announces Its Own Digital Currency XLEOLeondrino Exchange, Issuer of Digital Branded Currencies, Announces Its Own Digital Currency XLEO - November 13, 2017
- Blockchain Executive and Cryptocurrency Investor David Drake joins eSport and Gaming platform Play2Live Advisory Board - November 13, 2017
- UHUB.IO Seeks to Bring Their Decentralized E-commerce Platform to Life - November 13, 2017
- Eidoo Hits 100,000 Downloads As Cryptocurrency Customers Seek A Simpler Way To Store And Use Their Assets - November 13, 2017
- Ethereum Goes to Hollywood – Award-Winning Crypto Film Project Premieres in Hollywood - November 13, 2017
- Santa Claus Is Moving To Blockchain! Bye, Bye Chimney! - November 13, 2017
- Safinus Platform Wants to Unite Investors and Traders in One Place - November 13, 2017
- Exscudo Uses Multisignature Technology To Protect User Accounts - November 13, 2017
- Lykke To Support ERC20 Tokens In Latest Lykke Wallet Release - November 13, 2017
- Can Blockchain Revolutionise The Third Sector? Introducing The World’s First Recycling Intiative - November 13, 2017
- JBOX Announces Initial Coin Offering for Blockchain-Powered Decentralized Video Platform - November 13, 2017
- Perkins Coie Selected as a Founding Steward in Self-Sovereign Identity Network - November 13, 2017
- Waves Claims it Will Become the Fastest Blockchain Platform in the World - November 13, 2017
- Binary.com Announces ICO - November 13, 2017
- Finova Financial Announces The JOBS Crypto Offering (JCO): A Path To A Regulated Public Securities Offering for Non-Accredited Investors Using Cryptocurrency - November 13, 2017
- Dash Transactions Now 215 Times Cheaper Than Bitcoin After New Network Upgrade - November 13, 2017
- Tech Bureau’s mijin Opens Applications for Powerful New Enterprise Blockchain - November 13, 2017
- Human Discovery Platform Launches Token Sale to Build the Largest Storage of Human Behavior Powered by Blockchain - November 13, 2017
- CarFix Will Repair Your Vehicle For A Fraction Of The Price, With Help From The Ethereum Blockchain - November 13, 2017
- Neufund, Receives 10M Euro In Funding To Create ‘Equity Token’ - November 13, 2017
- Beenest Begins Decentralized Future For Short-term Housing Rentals - November 13, 2017
- CanYa Wants to Eliminate Crypto Volatility within Online Gig Economy Marketplace - November 13, 2017
- Allianz Pioneers Blockchain Prototype for the Captive Insurance Market - November 13, 2017
- Third Generation Cryptocurrency SkyCoin Aims to Shake up the Market - November 7, 2017
- DAO PlayMarket 2.0 – a New Era of Mobile Applications - November 7, 2017
- The International Scientific and Practical Association Jus Naturale – The first NGO with Blockchain-Based Membership - November 7, 2017
- Outlier Ventures Becomes Lead Investor In Botanic Technologies And Seed Token, To Decentralize Bot Creation And Deployment - November 7, 2017
- TOKIT, Ethereum Blockchain Application Launches - November 6, 2017
- Australian Blockchain Startup HCash Raises $53M in ICO - November 6, 2017
- Publicly Listed Companies on Major Capital Markets to Raise Funds via ICOs? Yes, Says Pegasus Fintech - November 6, 2017
- Quantstamp Announces Partnership with Experty for Smart Contract Auditing Consultations - November 6, 2017
- Internxt Challenges Storj on Blockchain Storage Front - November 6, 2017
- ShoCard Announces Bob Tinker as Board Member - November 6, 2017
- Streamr Announces DATA Tokens Listed on Bitfinex, the Leading Global Exchange - November 6, 2017
- UltraPlay introduces eGold, the ultimate eSports betting cryptocurrency - November 6, 2017