Xinfin.org to launch institutional financing marketplace built over blockchain, offers pre ICO tokens
Xinfin.org is about to launch an institutional marketplace over blockchain aimed at real world integration of smart-contracts between buyers, sellers and financiers while offering instant cross border payments and settlements using its native token XDC (Xchange Infinite Development Contract)
(For Immediate Release)
Aimed at bringing the benefits of blockchain to real world institutions, projects and transactions, xinfin.org today announced that it will soon be launching an institutional marketplace that will bring global buyers, sellers and financiers to a common platform built over blockchain. Xinfin.org has made several changes to ethereum open source architecture to make it suitable for a private distributed network of participants spread across the world.
Xinfin.org has been building a network for institutions seeking global or local procurements for their projects, suppliers who have proven products but are not so well known and financiers. The marketplace uses the power of blockchain for 4 main purposes:
- To be an instant cross border settlement mechanism through its native token XDC
- To map smart-contracts to real world contracts
- To use XDC to incentivize financiers to fund viable projects with low buyer and seller ratings
- To build an equity exchange over XDC for projects that want to raise capital
Here is a link to the XDC wallet: https://ewallet.xinfin.org
Here is a Link to Executive Summary : http://www.xinfin.org/wp-content/uploads/2014/08/Executive-Summary.pdf
The marketplace will be launched at the following URL: http://www.tradefinex.org
“We have interest from hospitals looking to acquire machinery, low income counties 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 are working on mapping smart contracts to real world contracts and laying the groundwork for all stakeholders to get the projects underway” said Alex Mathbeck, head of marketing for Xinfin.org.
Global supply chain financing today is either dependent on sellers’ or buyers’ ratings. There is no way to execute pilot projects based on project viability with low or non-existent buyer and seller ratings but with promising projects and products. There is also a lack of global real time settlement and financing mechanisms. Many of the projects are also not viable for financiers due to high risk. 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. Our platform makes optimum use of the blockchain platform. Our goal is to bridge the global $5 trillion infrastructure financing gap that has created a huge disparity between the rich and the poor. For example, 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 low or non-existent buyer and seller ratings.
The marketplace will not just be limited to the institutions but also will be open for individuals who want to take the leadership in identifying and initiating projects, crowdsourcing for support and completing the trade and finance over the xinfin.org XDC network. That feature makes xinfin.org decentralised at the same time.
The underlying blockchain uses proof-of-stake mining, though a large portion of XDC which 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 totally independent of ether and gas.
“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 ripple 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” added Alex.
The Xinfin.org 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. Native blockchain token XDC powering the xinfin.org platform is being listed across various exchanges.
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.