Since the beginning of man, there has always been one form of exchange of goods and services, the most primitive form of exchange known to man was trade by barter but as man revolutionized currency for trade where established. Today we have global trades across international boundaries in which goods and services are imported or exported and settled with financial transactions. As a result of distribution of natural resources and economic advancement, the Global trade and cross border transactions has continued to surge over the years but nevertheless, the uneven economic development has limited the presence of basic infrastructure required to raise finance to partake in global trades.
The Traditional financial systems have been unable to provide lasting solutions to the evident gap in trade needs and available trade finance due to global regulatory issues, difficulties with cross border payments, risk and governmental uncertainties, and the absence of a technology that will smoothen and provide requisite services for trade financing.
Introducing XinFin
XinFin is a blockchain technology company aimed at improving the global trade and finance industry and with the blockchain, numerous features XinFin provides an auditable, immutable, efficient, decentralized and a secured book record keeping environment for the perpetuation of trade financing. The XinFin solution is designed to implement smart contract in the place of digital contracts, facilitate swift cross border and domestic transactions, real-time payments and settlement in a marketplace compassing of financers, suppliers and beneficiary ,and lastly XinFin takes asset (goods or services) digitization to the next level by not just tokenizing its value on smart contracts but facilitating traceability using the internet of things(IoT) devices.
Xinfin application are highlighted in the image below.
Core Features of the XinFin Platform
Tradefinex is the XinFin marketplace solution for the trade and finance sector. The XinFin marketplace creates a hub where financiers and financial projects can readily exchange and perpetuate seamless financial transactions using the XinFin Blockchain. Tradefinex creates a non-restricted, IoT integrated, digitized, transparent, cost effective and incentivized center for global trades. To further understand how tradefinex works check out the video below.
https://m.youtube.com/watch?v=bYIJETgOY_g
XinFin Enterprise blockchain is a fork of both the ethereum and quorum blockchain allowing the XinFin blockchain to exhibit both the characteristic of a private and public blockchain. The XinFin architecture which is called XDC01 protocol gives room for privacy of sensitive financial data stored on the private state of the XinFin network while the public state gives room for transparency and accountability. XinFin blockchain is also renowned for its high transaction per seconds (TPS), smart contract functionality, interoperability with public chains and lastly asset tokenization which in contrast to other blockchains with support for token deployment is superior due to the implementation of an IoT layer on the XinFin blockchain architecture. To learn more about Asset tokenization on XinFin click the link below.
https://medium.com/xinfin/mycontract-smart-contracts-tokens-issuing-asset-tokenization-and-icos-made-easy-1879d523341
The utility currency of the Xinfin platform is known as XDC. The XDC has a maximum supply of a 100 billion unit with all token premined. Even though the Xinfin supports payment in fiat currency, the XDC serves as the cryptocurrency for all form of transaction which includes Deployment of smart contracts and distributed applications, carrying out high-performance financial transactions using the XinFin blockchain, issuing of digital assets as well as other p2p transactions. In order to curb the effect of price fluctuation on the XDC token, the XinFin platform institutes a hedge pool in which the XDC is backed against established cryptocurrency such as bitcoin,litecoin, bitcoin cash, and ripple. With the hedge pool, users of the Xinfin platform are safe from the sudden decline in value arising from the crypto-market volatility. XinFin also boasts of an erc-20 token called XDCE token which is swappable on a 1: basis with XDC. XDCE is mainly used for trading across different exchange and derives value from the XDC token.
Conclusion
The Xinfin platform use-case is limitless and can influence various sectors of the global economy if properly harnessed by the different level of participants in the global trade and finance. With further services such as distributed ledger solutions offered by the XinFin platform, the XinFin platform services will definitely be in high demand in the nearest future.
For more information on the XinFin platform check out the following channels.
WEBSITE : https://xinfin.org
TELEGRAM: https://t.me/xinfin
MEDIUM : https://medium.com/xinfin
TWITTER : https://twitter.com/XinFin_Official
LINKEDIN : https://www.linkedin.com/company/xinfin/
YOUTUBE: https://www.youtube.com/channel/UCQaL6FixEQ80RJC0B2egX6g
GITHUB: https://github.com/xinfinorg
Writer's information
Name : Ukoba Isaiah
email : [email protected]
Telegram name : Mrniceguy222
Twitter handle: Henryspark94