HYDERABAD, INDIA / ACCESSWIRE / November 24, 2021 / Automaxis, a provider of trade digitization solutions, has entered into a partnership with blockchain platform XDC Network, adding its electronic bill of lading (eBL), Certificate of Origin, Quality Documents such as health certificates solution to the blockchain network using cross border trade digitization platform called FDP Connect™. This platform will enable exporters to ease out their daily export formalities by digitizing their essential documents and forward them to the respective stakeholders as and when required at the click of a button, thus speeding up the transaction & reducing the time for product market reach. With the help of the XDC chain, the exporters can share the documents on the digital platform without worrying about the security of their vital and confidential documents across the globe with high-speed transactions at extremely low transaction fees.
Pratik Sharma, COO of Automaxis comments: "XinFin's XDC Network's various advantages such as a hybrid architecture (public/private), low transaction fees (near zero), low energy consumption, efficient confirmation time, double validation, and randomization for security guarantees; suits the ecosystem that needed for FDP-Connect."
He added "Also, the recently published paper, discussing the XDC Network's proposed upgrade to its decentralized consensus engine (DPoS 2.0), forecasts a network with military-grade security and performance, that hopes the XDC Network will provide a scalable, reliable infrastructure helping to provide a secure blockchain-enabled platform to digitize cross-border trade transactions."
About XDC Network
The XDC Network is a global, open-source, delegated proof of stake consensus network (XDPoS), enabling hybrid relay bridges, instant block finality, and interoperability with ISO 20022 financial messaging standards. The network's hybrid architecture is designed to support institutional use in trade finance and tokenization and is equipped to reduce the existing finance gap in global infrastructure. With interoperable smart contracts, 2000 transactions per second, and Ethereum Virtual Machine compatibility. The XDC Network provides a scalable infrastructure for enterprises and independent community contributors.
The World Trade Organization (WTO) highlighted XinFin's hybrid protocol, which supports permissionless ledgers for public verification and permissioned ledgers for limited data sharing. Recently, XinFin's XDC Network become The First Blockchain Company To Join The Global TFD Initiative
For more information about XinFin and the XDC Network, please visit www.xinfin.org.
About FDP-Connect
FDP-Connect, a product of Automaxis, is on a mission to digitize and streamline cross-border trade transactions by bringing in interoperability between the stakeholders involved at the time of cross-border trade transactions. For the issues faced by the MSME in cross-border trade, FDP-Connect is a blockchain platform that digitizes the value chain, documents & enables the cashflow between multiple stakeholders by providing them business benefits & transaction transparency.
For more information, please contact:
Pratik Sharma
COO of Automaxis
pratik@autom-axis.com
SOURCE: AUTOMAXIS
View source version on accesswire.com:
https://www.accesswire.com/673757/Automaxis-brings-Trade-Digitization-to-XinFins-XDC-Blockchain-Network
