Blockchain Platform XinFin Teams With R3 For Enterprise Blockchain Apps
Hybrid blockchain platform XinFin is partnering with blockchain consortium R3 to host its standardized and decentralized applications (dApps) on the R3 Corda marketplace.
XinFin is a blockchain technology company focused on international trade and finance. It has a scalable, secure, permissioned and commercial grade blockchain architecture that aims to eliminate inefficiencies in global trade and financing, and enable institutions to provide real time settlement as well as enabling cross border smart contracts. The company has been granted sandbox license in Abu Dhabi Global Markets (ADGM) and currently awaiting sandbox access across 6 global jurisdictions.
The partnership with R3 will see XinFin offer members of the R3 consortium standardized distributed applications, including invoice factoring, global trade and finance, instant remittances, e-wallets, liquidity relayers, university certificate issuance, asset digitization, and global air charter.
The XinFin developer community will be developing a relay bridge between the Corda private Network to the XinFin Public Network. This bridge will allow financial institutions that are using the R3 Corda platform to run distributed applications on a hybrid blockchain architecture, a combination of private and public blockchains, in a sandbox environment. It will also create the ability to relay a limited set of data and transactions from privacy channels to the public network. In addition CordApps that’s already available on the R3 Corda marketplace will be able to connect to XinFin’s Public Network.
According to XINFin, its public network is running on know your customer (KYC) and anti money laundering (AML) enforced Masternode based architecture built upon a Delegated Proof of Stake Consensus, which makes the platform an ideal, interoperable, liquid and bridging platform for deploying and transacting real-world assets such as bonds, real estate, infrastructure and trade finance instruments.
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