TradeFinex: The Long Awaited Marketplace for Global Trade and Finance Powered by XinFin
Deuteronomy is a community somewhere in the western part of Nigeria, the community is richly blessed with natural resources but nevertheless is lacking in basic infrastructures such as electricity, good road, portable water e.t.c. Matters regarding political instability and poor governance has impeded the economic development of the community and efforts taken by the community leaders to improve the fortune of the community has proven to be futile. The community wishes to embark on an electricity project which would facilitate the development of the community, provide Jobs and as well revenue for investors , but soliciting funds for the project proved to be a herculean task. Financial institutions in the vicinity and even abroad refused to finance the project regardless of the tamperproof business plan the community leaders came up it. A lot of communities, governments of underdeveloped nations, local bodies find it difficult to raise finance for projects in the conventional system of the world and this shortfall calls for sporadic improvement in the global trade Industry.
XinFin is a revolutionary project seeking to provide the much-awaited solutions to the international trade and finance industry by implementing blockchain technology at the helm of its affairs. The problem entities, communities or beneficiaries face in securing funds for projects is as a result of the absence of a Global marketplace where all parties involved such as the beneficiaries, suppliers, and financiers can participate in a transparent, secure, cost-effective, incentivized legally compliant environment. There are a lot of financier's i.e Venture Capitalist, Private Equity and financial institutions that will gladly finance viable projects like Deuteronomy electricity Project but the lack of global platform where these community projects can reach out to this financiers and also have access to reliable suppliers of products and services required for the accomplishment of this product has greatly hampered the developments of such projects.
TradeFinex is the XinFin Solution to This problem. The TradeFinex Marketplace is designed to accommodate beneficiaries searching for more options to raising funds for their project as well transacting with reliable suppliers of goods and services while suppliers of these products and service will be gains access to a global audience of buyers empowered with an efficient means of perpetuating cross border payment and remittance in the form of the XinFIn currency (XDC). Financiers can now tap into the wealth of global opportunities in an ecosystem built to be transparent, profitable, viable and acceptable risk levels. TradeFinex runs on the XinFin permission based hybrid blockchain and this allows TradeFinex harness the power of the XDC for perpetuating efficient financial transactions, the creation of legally binding smart contracts to serve as guidelines to transactions and as well provide escrow function. The XinFIn blockchain architecture also boasts of an IoT layer which allows Financiers to keep track of their investment.
TradeFinex boast of numerous advantages to all participating bodies in the trade finance industry. Beneficiaries seeking funding will enjoy a lower cost of capital, access to a non-restricted pool of funds from financiers all over the world, access to credible suppliers and financiers and lastly incentives for using the Tradefinex marketplace. Suppliers of goods and services will get to expand their market from the limitations of geographical restrictions, enjoy improved trade, cost-effective services and lastly incentive for participating in the marketplace. Financiers will not be left out of the equations with benefits such as access to global investment opportunities, efficient cross border payment using the XinFin blockchain and its currency XDC, traceability of investment health and lastly incentive for participating in the marketplace.
In conclusion, Tradefinex is the solution the global trade finance industry has been lacking over the years. The implementation of a hedge pool to backup the XDC currency is another smart move by the Xinfin platform which will go a long way in mitigating the effect of volatility when participants utilize the platform for cross border payment and remittance. Hopefully with the success of the XinFin platform and global acceptance of the TradeFinex Marketplace, projects like the Deuteronomy Electricity Project will finally get the much-needed finance for its execution.
The video below buttresses the concept of the TradeFinex marketplace.
To learn more about 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