XinFin a non profit organization and Blockchain startup is set to expand its hybrid Blockchain initiative to Africa. This move comes after series of meetups in Asia, Europe and the United states with a recent Africa meet up held in Zimbabwe on September 01,2018.
XinFin’s mission statement in partnership with different international governments is tailored towards improving the deficit in global infrastructure with the aid of Blockchain technology and establishing secure cum transparent transactions for cross border trade and international fund transfer. On a larger scale, XinFin looks to provide a platform to allow investors bid and finance infrastructure projects without major hassles attributed to paper work and previous financing mediums.
The company which looks to expand its tentacles to the African market has recorded from its previous projects relative success particularly with its XinFin (XDCE) tokens now used by several companies for making payments. Its desire to explore the African market is linked to the suitability of its TradeFinex platform which provides a mechanism for peer-to-peer financing for infrastructure investments.
From statistical references the African infrastructure market is worth over $24 trillion but is still largely inefficient and expensive for participants, with most governments who wish to carry out infrastructure projects having to borrow domestically or internationally which is consequently expensive. This consideration and an attendant need for massive infrastructure development in Africa, only serves as more emphasis on the need to adopt the TradeFinex platform.
Through TradeFinex, African governments will have access to a peer-to-peer lending mechanism which offers cheap and efficient utility. The XinFin company also looks to unlock other potentials of this trillion dollar market, exponentially increase utility of XinFin (XDCE) tokens and profits for XinFin (XDCE) investors.
Even as questions are raised on the possible success of this project in the African market especially as Blockchain technology is yet to be harnessed by the region , past success by XinFin especially in the United States and its Asian projects prove the company is sure to dominate as it remains focused on strategic partnerships in the global infrastructure market. Also its team, project fundamentals and expanding market is larger than most other blockchain projects.
The project’s success is sure to set the pace for more Blockchain activity in Africa.