Blockchain DeFi News

DeFi Enabled, Enterprise Grade Hybrid Blockchain, XDC Network, Gains Compliance Edge

DeFi Enabled, Enterprise Grade Hybrid Blockchain, XDC Network, Gains Compliance Edge

BIGG Digital Assets Inc. Subsidiary Blockchain Intelligence Group secures $213,800 contract from XDC Network

BIGG Digital Assets Inc., owner of Blockchain Intelligence Group, a global developer of blockchain technology building a secure future, is pleased to announce a partnership with XinFin, developer of the enterprise-ready hybrid blockchain network, XDC.

The partnership enhances the real-world legitimacy of the XDC Network by bringing it into Blockchain Intelligence Group’s compliance tech ecosystem. Current and future regulations in markets where the XDC Network is used are more easily fulfilled using the on-demand compliance solutions.

“Blockchain Intelligence Group and XinFin share the same values around real-world utility for blockchain, transparency and innovation,” said Lance Morginn, President, Blockchain Intelligence Group. “Blockchain Intelligence Group and XinFin both seek to build a secure future for enterprises looking to benefit from blockchain, crypto and tokenization adoption.”

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The XDC Network and Blockchain Intelligence Group together help create a more scalable, transparent and compliant future for this technology. The overlap in their missions to create transparency in blockchain is rooted in the common goal of facilitating the regular use of this technology within global trade markets. XinFin is using the XDC Network to facilitate real-world decentralized finance (DeFi) using tokenized trade finance assets and non-fungible tokens (NFT) within regulatory boundaries. On Sept 21, TradeTeq completed the world’s first trade finance-based non-fungible token (NFT) transaction, on the XDC network.

“Tokenization platforms running on the XDC Network, specifically those supporting Trade Finance instruments, will eventually invite competition among financiers in emerging DeFi ecosystems,” says Bill Sebell, Director of Ecosystem Development North America, XinFin. “These competitive platforms will provide more visibility to SMEs, create better opportunities to fund projects and facilitate better rates for participants. To accelerate the adoption of this technology, our efforts to increase transparency must match our efforts to further innovation.”

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Blockchain Intelligence Group will support XDC addresses and transactions on its crypto investigation platform, QLUE™. Customers will have the ability to query for address and transaction scores, flags and entities using BitRank Verified®.

These developments reflect the XDC Network’s efforts to increase blockchain accountability, even on protocol level. This recently published whitepaper discusses the XDC Network’s proposed upgrade to its decentralized consensus engine (XDPoS 2.0) and forecasts a network with forensics capabilities, accountability and attributability. The upgrade would create the ability to identify malicious actors with cryptographic integrity directly from blockchain records.

This collaboration arrives on the back of the XDC Network’s listing as a member of The Trade Finance Distribution Initiative (TFDI). The TFDI is a consortium of trade originators, credit insurers and institutional funders on a mission to boost automation and transparency in trade asset and risk distribution. The XDC Network is the first blockchain solution to join the consortium.

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[To share your insights with us, please write to sghosh@martechseries.com ]

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