Mark Binns reports
DEFI ENABLED, ENTERPRISE GRADE HYBRID BLOCKCHAIN, XDC NETWORK, GAINS COMPLIANCE EDGE
Bigg Digital Assets Inc.'s Blockchain Intelligence Group has formed 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."
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 (NFTs) within regulatory boundaries. On Sept. 21, 2021,
the world's first trade-finance-based 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," said Bill Sebell, director of ecosystem development, North America, XinFin. "These competitive platforms will provide more visibility to SMEs [small and medium-sized enterprises], 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."
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 a protocol level. A recently published
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 financers 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.
About Bigg Digital Assets Inc.
Bigg Digital Assets believes the future of crypto is a safe, compliant and regulated environment. Bigg invests in products and companies to support this vision. Bigg owns two operating companies: Netcoins and Blockchain Intelligence Group.
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified software at the heart of its platform and facilitates crypto trading through a self-serve crypto brokerage portal at the Netcoins website.
Blockchain Intelligence Group is a global developer of blockchain technology building a secure future. Financial institutions and crypto companies depend on Blockchain Intelligence Group's technology to monitor risk from crypto transactions. Investigators and law enforcement quickly identify and track illicit activity. The crypto forensics technology was designed by investigators for investigators. Blockchain Intelligence Group is trusted globally by leading financial institutions, crypto companies, fintech, regtech, law enforcement and regulators.
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