Smart Contracts are decentralized yet legally binding documents which trigger rolls according to set conditions. It enables users to transfer and settle value in real time and permits transparent access by all parties. Ziddu is the only marketplace for decentralized smart contracts.
What Is Ziddu?
Ziddu was initially owned by a Singapore based online advertisement service providers Meridian Tech Pte Ltd. The portal initially had described itself as “an empowering free cloud storage, global wallet, social commerce & social gaming platform startup” but later changed it to “a Blockchain technology empowered solutions provider. Ziddu was then acquired by LongFin Corp.
Ziddu uses their own algorithm while following the core principles of Smart Contracts. Ziddu Ethereum ERC20 Blockchain Token uses a technology stack in which Smart Contracts run in distributed virtual machines, which in turn run on a Consensus Settlement Algorithm (CSA). This enables it to act in to ways:
- Everyone can see the copy of open ledger, decentralized verification and transparent execution
- Everyone can see the result of contract execution
Ziddu’s Decentralized Smart Contract Solution
Warehouse Financing/International Trade Finance:
This industry is worth over $ 6 Billion. Local Banks act as escrow agencies in International Trade and Warehouse Financing, but they charge non-trivial fees for this privilege. Ziddu consensus settlement tokens turns this around by eliminating the need for Banks. Funds can be released in real-time, subject to Bill of Lading, Origination Certificates, Insurance and Delivery of Logistic Systems.
The peer-to-peer lending market such as Circle Back lending, Lending Club, Peerform, Prosper and Upstart will grow tremendously and will post an impressive of CAGR of more than 53% by 2020. In addition to increasing the growth opportunities of different customers, peer-to-peer or P2Plending also helps companies reduce costs and claims.Ziddu Smart Contract provides disintermediation and potentially balanced reduction of institutional lending. It is coded in such a way that it allows multiple parties to lend to other parties.
FX OTC Derivatives:
Foreign Exchange swaps and forwards, which are widely used by corporations to hedge their currency exposure, account for a growing share of the $5 trillion-a-day forex market. Ziddu Smart Contracts can settle real-time derivatives between Buyers and Sellers in OTC/FX Options. The post trading settlement costs are heavy to clearing houses and Swift Networks are serving as intermediaries thus eliminating the middle man.
Once proof of concept is committed as a Smart Contract in Ziddu Ethereum Blockchain, it is very difficult to undo it. Whole Bullion Smart Contract converts the Trade / Work Flow into Electronic legally binding representation. As soon as you agree to the legal terms, you can represent anything you want.
Fixed income securities generate regular income, reduce overall risk and protect against the volatility of a portfolio. The structured products of fixed income smart contacts are about $15 trillion. Lehman Crisis, The Counter Party Risk has been the biggest threat to the industry. Ziddu Smart Contracts can create Structured Notes that don't have access to client funds, but still allow participants to settle the Pay-offs. Enabling people to create Structured Notes without putting trust on the central party, Ziddu Smart Contract settles the payoffs by passing clearing houses / Banks who charge significant amounts.
Ziddu Crypto Marketplace Conclusion
Owing to the wide range of application of their smart contracts, Ziddu is one of the hottest possession in the blockchain world. This has been demonstrated by the fact that stock value of LongFin Corp skyrocketed from $5 to $70 as soon as they purchased Ziddu.
One can find out more about Ziddu here: ziddu.com/