(For Immediate Release) As a part of it’s global infrastructure deficit gap bridge initiative using blockchain and IoT connectivity, Xinfin recently organized an event with Government officials and businesses in Botswana, an African country with a strong promise.
XinFin is shortly launching it’s decentralized global marketplace powered by it’s blockchain network that enables peer to peer financing between Businesses and lenders located across geographies. In an information session arranged by it’s representatives in Africa, XinFin presented it’s Internet of Things and IoT architecture that can connect critical infrastructure projects to it’s global blockchain platform that can transact and secure financing on it’s blockchain platform.
The meeting which was aimed at introducing Xinfin to government officials and contractors in Botswana in order to assist them in using the platform to finance infrastructure development and procurement of essential equipment and materials was attended by 75 contractors and government officials from various departments.
“The XinFin platform is dedicated to bridging the global infrastructure deficit which is in the region of $5 trillion, and it is a huge opportunity for developing countries like, Botswana, to take make good use of,” said Alakanani Itireleng, Director of Satoshi Centre who has been representing XinFin decentralized marketplace in Botswana.
XinFin platform incentives for financiers with 25 percent bounty of it’s native XDC tokens which are inflation resistant and gives smart-exchange resources over XDC for equity investments and risk-hedging to fund projects with a low buyer and seller ratings.
“You know very well how it is so difficult to access funding for projects in third world countries like ours, but we are eliminating that by using the XDC token. We are creating a marketplace with a crowdsource feature that allows individuals, governments and institutions to initiate a project of public importance and promote it with crowdsource and support. When the project is given the nod by a minimum number of votes, it is then open in the marketplace for project management consultants who will bid for the process of administration from conceptualization to execution. The complete workflow from design to sourcing of materials will also be available on xinfin.org in a transparent manner.” added Alakanani.
“The XinFin platform is building it’s proprietary repayment module that structures a fiat currency to XinFin XDC swap every fixed interval that ensures the financiers are getting a robust repayment mechanism. The architecture, once proven successful can be implemented to finance any public infrastructure project from a Solar Power plant to even a toll road.”
XinFin is currenly organizing it’s information sessions with Governments across the world as a part of it’s platform awareness program.
“This is a God sent opportunity at a time most of us are struggling to finance various contracts we have won from the state and private entities,” Cara Ishmael, Secretary of the Botswana Contractors Association related.
However, some government officials were a bit confused about the whole process. A government official who spoke to the participants on anonymity was like it is too good to be true. “Finance for infrastructure with lower interest rates is unheard of but we are going to scrutinise it and take the necessary action,” she said.
Another official who spoke on record was of the view that the Blockchain seems to be a panacea to many problems since he read somewhere that there are some cryptocurrencies that are dedicated to energy supply. “It is all about engaging with the XinFin people further to learn more. I have read about how the Blockchain and some cryptocurrencies are providing cheaper electricity,” Thu So, a government official expressed at the event.