XinFin – XDC Private Blockchain For Trade & Finance Supply Chain?
XINFIN is a non-profit foundation that collaborates with the governments to bridge the worldwide $5 trillion infrastructure deficit. The organization was established due to the need to help governments finance infrastructure projects by the use of XDC tokens.
The organization felt that governments the world over are struggling to afford basic facilities such as clean energy, hospitals, sanitation, and roads. Developing countries especially have it rough when they want to access readily available financing with favorable conditions.
What Is XinFin?
XINFIN was created by the Ethereum open source platform with a goal to provide a blockchain solutions platform. It has launched a marketplace that is meant to help build and trade global infrastructure.
The platform is driven by Xchange Infinite Development Contract (XDC) tokens allowing users to enjoy the perks of cryptocurrency operations through merging smart contracts between financiers, sellers, and buyers. Another advantage is that the marketplace will promote instant cross-border transactions using XDC.
One of the unique features of the marketplace is a crowdsource which enables people to invent a project that can benefit the general public and lobbying support and promoting on crowdsource.
When a project is well received by people and has been voted by a minimum number of people, it qualifies to be open in the marketplace where project management consultants will bid for a chance to take part in the management process from the idealization to implementation.
Once the project has been given the green light to proceed and voted on by the community, financiers will be at liberty to fund it for a 25% return on investment.
XinFin Incentives For Financiers
Presently, the global supply chain investment depends on the sellers and buyers ratings. This means that it is entirely impossible to have an excellent project funded and executed just because it is viable yet it has a low or no buyer and seller ratings.
Another obstacle that project implementers and financiers face is the lack of international financing tools and settlement.
XINFIN counters this problem by giving financiers incentives in the form of smart-exchange resources over the XDC for risk-hedging and equity investment so that they can fund the projects with the poor seller and buyer rating. XIFIN is dedicated to reducing the infrastructure deficit, thereby reducing the gap between the rich and the poor.
XINFIN is set to be launched soon, together with their largest ICO where anyone who is interested can buy XDC tokens. During the launch, the public will witness as the ICO is launched with a white paper and they will also showcase the ICO in use by making real world transactions with regulated institutions.
The XDC blockchain is famed as being able to process transactions fast. APIs that will incorporate sell, buy, receive and send will also be launched soon.
The head of Xinfin’s Marketing Alex Mathbeck pointed out that the target market of the platform includes developing countries that want to maximize on their tourism, hospitals that want to acquire machinery, countries that require farming equipment and affordable tools to build their infrastructure as well as farming institutions that are in need of training and e-learning so that they can protect themselves against external risks.
He also explained that Xinfin decided to run XDC on a privately distributed network because public blockchains have high latency time which makes instantaneous payments impossible.
Getting Involved With XinFin
As at now, 80% of XDC has been mined already. Xinfin.org will release a white paper that contains the algorithm for mining. The community has to vote for miners so that they can build and safeguard their reputation. Xinfin.org uses this system so that miners can be held accountable and ensure that they can be audited by authorities or regulators if need be.
In addition to getting involved in the mining process, potential investors can also buy XDC using any type of currency. After creating a wallet to safely store the currency, investors can buy XDC for an exchange rate of one XDC per .0003 USD.
Those seeking to get into the Xinfin platform should turn to their website to receive more detailed instructions on how they can help with the projects ongoing within the company.
Xinfin provides a new solution to a pervasive governmental problem. With infrastructure demands often crushed under the weight of increasing restrictions and funding barriers, Xinfin allows governments all over the world to crowdsource funds to develop and enlist the help of new technology to improve their infrastructure.