VANCOUVER, British Columbia, Sept. 28, 2021 (GLOBE NEWSWIRE) — BIGG Digital Assets Inc. (“BIGG” or the “Company”) (CSE: BIGG, OTC: BBKCF, WKN: A2PS9W), owner of Blockchain Intelligence Group (blockchaingroup.io), a global developer of blockchain technology building a secure future, is pleased to announce a partnership with XinFin, developer of the enterprise-ready hybrid blockchain network, XDC.
The partnership enhances the real-world legitimacy of the XDC Network by bringing it into Blockchain Intelligence Groups compliance tech ecosystem. Current and future regulations in markets where the XDC Network is used are more easily fulfilled using the on-demand compliance solutions.
“Blockchain Intelligence Group and XinFin share the same values around real-world utility for blockchain, transparency and innovation,” said Lance Morginn, President, Blockchain Intelligence Group. Blockchain Intelligence Group and XinFin both seek to build a secure future for enterprises looking to benefit from blockchain, crypto and tokenization adoption.
The XDC Network and Blockchain Intelligence Group together help create a more scalable, transparent and compliant future for this technology. The overlap in their missions to create transparency in blockchain is rooted in the common goal of facilitating the regular use of this technology within global trade markets. XinFin is using the XDC Network to facilitate real-world decentralized finance (DeFi) using tokenized trade finance assets and non-fungible tokens (NFT) within regulatory boundaries. On Sept 21, TradeTeq completed the worlds first trade finance-based non-fungible token (NFT) transaction, on the XDC network.
Tokenization platforms running on the XDC Network, specifically those supporting Trade Finance instruments, will eventually invite competition among financiers in emerging DeFi ecosystems, says Bill Sebell, Director of Ecosystem Development North America, XinFin. These competitive platforms will provide more visibility to SMEs, create better opportunities to fund projects and facilitate better rates for participants. To accelerate the adoption of this technology, our efforts to increase transparency must match our efforts to further innovation.
Blockchain Intelligence Group will support XDC addresses and transactions on its crypto investigation platform, QLUE. Customers will have the ability to query for address and transaction scores, flags and entities using BitRank Verified.
These developments reflect the XDC Networks efforts to increase blockchain accountability, even on protocol level. This recently published whitepaper discusses the XDC Networks proposed upgrade to its decentralized consensus engine (XDPoS 2.0) and forecasts a network with forensics capabilities, accountability and attributability. The upgrade would create the ability to identify malicious actors with cryptographic integrity directly from blockchain records.
This collaboration arrives on the back of the XDC Networks listing as a member of The Trade Finance Distribution Initiative (TFDI). The TFDI is a consortium of trade originators, credit insurers and institutional funders on a mission to boost automation and transparency in trade asset and risk distribution. The XDC Network is the first blockchain solution to join the consortium.
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About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Netcoins (netcoins.ca) and Blockchain Intelligence Group (blockchaingroup.io).
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.
Blockchain Intelligence Group is a global developer of blockchain technology building a secure future. Financial institutions and crypto companies depend on its technology to monitor risk from crypto transactions. Investigators and law enforcement quickly identify and track illicit activity. The crypto forensics technology was designed by investigators for investigators. Blockchain Intelligence Group is trusted globally by leading financial institutions, crypto companies, Fintech, Regtech, law enforcement and regulators.
For more information and to register to BIGGs mailing list, please visit our website at https://www.biggdigitalassets.com. Or visit SEDAR at www.sedar.com.
About XinFins XDC Network
The XDC Network is an open-source enterprise-ready Hybrid Blockchain for Global Trade and Finance. It combines the power of public and private Blockchains with interoperable smart contracts. XinFin is fully EVM compatible. For more information on XinFin, please visit xinfin.org or learn more about XinFin in this video: https://youtube.com/watch?v=K-tHZkV6zAs.
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as may, expect, estimate, anticipate, intend, believe and continue or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGGs expectations include, consumer sentiment towards BIGGs products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
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