The adoption of blockchain technology by enterprises is an important long-term goal of the cryptocurrency community, because the integration of digital currency and daily business activities will bring new users to the ecosystem and promote activities on the chain.
One protocol that has received attention in terms of enterprise adoption is the New Financial Network (XDC), an enterprise-ready hybrid blockchain solution specifically designed to optimize international trade and finance.
The three reasons behind XinFin’s growth momentum are the addition of the XDC network to the global TFD program, the release of LedgerMail, a decentralized email solution, and the growing ecosystem of partners and listed exchanges.
Adopted by the global trade network
One of the most important developments of the XDC network is its participation in the Global Trade Finance Distribution (TFD) initiative, an alliance of trade sponsors, credit insurance companies, and institutional funders whose mission is to improve asset trading and risk allocation. Automation and transparency.
XinFin XDC Network-a network utility that provides smart contract technology to produce encrypted tokens-the first blockchain company to join the global TFD program.https://t.co/NaOaRGuhOZ pic.twitter.com/kTKEMmQfZp
— ITFA (@ITFAworldwide) August 23, 2021
According to André Casterman, Chairman of the Financial Technology Committee of the International Trade and Forfaiting Association (ITFA), the addition of the XDC network “enables the organization to transfer 19 trillion yuan through tokenization and digital assets. The U.S. dollar trade finance asset class is linked to any type of funder.”
The importance of this integration to XinFin cannot be overstated, as it cooperates with some of the largest global financial institutions and leading service providers, such as AIG, Santander Asset Management, ING Bank, International Chamber of Commerce, Standard Bank, Commonwealth Bank of Australia, Texel Group and Lloyds Bank.
The overall goal of the TFD initiative is to create a stronger trade finance ecosystem by defining market practices and transaction data specifications based on new technologies to help improve the accessibility and transparency of trade flows.
LedgerMail becomes the world’s first decentralized email solution
Another reason for the surge of XDC is that after the release of LedgerMail on August 4, LedgerMail is “the world’s first decentralized email solution” and is supported by the XDC network.
The Industrial Revolution 4.0 is officially launched!
-LedgerMail (@LedgerMail) August 4, 2021
According to the project’s Twitter feed, its mission is to “provide the highest level of security, privacy, encryption, and prevention of email attacks in a decentralized manner.”
With the increase in the total number of registrations, the demand for this service began to boom Beyond In the first week, 50,000 new users register and get 10 free XDCs.
List of partnerships and exchanges
The adoption rate of XDC has also increased in recent weeks, partly due to the network’s new partnerships and several new exchange listings.
One of the larger partnerships is its Integration Shopping.io is an e-commerce project that allows users to use cryptocurrency to pay for goods on Amazon, eBay, Walmart, and Etsy. As an added benefit, purchases made with XDC can enjoy a 2% discount, and users who hold Shopping.io’s native SPI token can get an additional 12% discount.
XDC is also working with HAPI, an on-chain network security protocol for decentralized finance (DeFi) products that helps improve security and helps prevent hacker attempts.
We are happy to announce that the HAPI protocol will be integrated into @XinFin_Official
XinFin’s XDC network is a leading hybrid blockchain protocol designed to support institutions’ use of asset tokenization and decentralized finance.
The details are here: https://t.co/trZNwiq9tw
— Happiness | DeFi’s on-chain network security protocol (@i_am_hapi_one) August 17, 2021
HAPI is a set of cross-chain smart contracts embedded in DeFi products, which enables them to reach a new level of security.
The recent listings on several exchanges have also benefited XDC, as the increase in visits has led to an increase in its 24-hour trading volume.Including July 8 Add to SimpleSwap and July 31 Integration And simplex.
The views and opinions expressed here only represent the views of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading action involves risk, and you should conduct your own research when making a decision.