- XDC Network helps small businesses gain access to much-needed funds through decentralized trade finance solutions.
- The platform’s fast transactions and smart contracts allow businesses to settle payments quickly without extra fees.
- XDC Network is energy-efficient and supports developers in creating secure and scalable decentralized applications.
The XDC Network, which was developed by the XDC Foundation, is pushing blockchain technology forward in trade finance and enterprise solutions. It features a two-second block time and near-zero gas fees, making it ideal for real-world usage. Plus, it integrates with the ISO 20022 global monetary messaging standard, allowing businesses to modernize and streamline their financial systems.
Closing the Trade Finance Gap
In the year 2022, the international commerce funding deficit hit $1.7 trillion, especially affecting small and medium-sized firms . SMEs face difficulties accessing capital, with over 40% of trade financing applications getting rejected by financial institutions . This has left many businesses without essential financial support.
The XDC Network provides a decentralized finance solution, enabling businesses to bypass traditional banks and conduct direct purchases. This helps SMEs gain access to liquidity, particularly in emerging regions. Blockchain could play a big role in reducing the economic disparity and making capital more accessible to underserved businesses.
ISO 20022 and Faster Transactions
XDC Network’s compatibility with ISO 20022 helps it connect with financial institutions worldwide, supporting both cross-border and domestic payments. This makes the platform more useful for companies that want faster, more secure payment options.
Smart contracts within the XDC Network enable instant settlements, allowing businesses to complete transactions more quickly. This not only improves transaction speed but also cuts down on costs, making it an efficient choice for companies working in fast-paced markets.
Developer-Friendly and Energy Efficient
XDC environment also provides a good atmosphere for creators. It is compatible with the Ethereum Virtual Machine and supports up to 2,000 exchanges per second. This gives developers a flexible platform to build decentralized applications that can grow with demand.
The platform also uses a delegated stake verification system, which consumes less energy than other blockchain designs. This makes it a great option for businesses that focus on sustainability. The XDPoS 2.0 upgrade has enhanced the system’s security and accountability, making it a solid option for enterprises and designers.
The post XDC Network Transforms Global Trade with Fast Blockchain and Instant Payments appeared first on Crypto News Land.
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