XinFin at WhitePaper Circle | Event Synopsis | Blockchain at Berkeley
One of the main cultural pillars of ‘Blockchain at Berkeley’ is the commitment of constant learning. The members believe in community learning, and often group together to discuss relevant subjects and learn from one another the various emerging topics in the blockchain space. One such hosting is the Whitepaper Circles, in which all of their members select technical papers, examine them closely, pose questions, and engage in stimulating discussions.
This week’s topic was on Hybrid Blockchain and it was Presented by Alan Lai, a student member of Blockchain at Berkeley. While blockchain is slowly becoming a technological revolution, many enterprises have hesitated to integrate this technology due to the lack of privacy and security risks. This is where hybrid blockchain comes into play! Hybrid blockchain uses a combination of both public and private blockchain to ensure that confidential information stays private. Alan descriptively explained the current projects like Hyperledger, Ripple and XinFin. XinFin is the first fully-fledged implementer of the Hybrid blockchain.
Atul Khekade, Co-Founder of XinFin, was the guest speaker in their first Whitepaper circle and gave an overview of XinFin and its hybrid Blockchain approach.
He began by explaining the origination of brand name XinFin from ‘Exchange Infinite’, envisioned as building a network which could interact with anything, and could enable an infinite exchange of values between centralised as well as decentralised networks. Any asset value should be liquid and secure at the same time.
Mr. Khekade restated the purpose and the business case for the Hybrid blockchain and mentioned XinFin’s consortium is aimed at making work applications in the enterprise environment. That way they do not land up creating a generalised system but real-world use cases.
Mr. Khekade also explained TradeFinex, XinFin’s enterprise-ready hybrid blockchain for global trade and finance using a public and private blockchain.
XinFin has surpassed the whitepaper stage and is currently in the alpha-stage, transitioning into beta-stage, and aims at an eventual production by Q1 2019.
Global businesses have begun to appreciate the power of XinFin’s Hybrid Blockchain, and the technology got the shoes ready to cater the deserving spot for the ‘concept of Hybrid’ and make it functional in every field.
Quoting Atul Khekade, “Extreme centralisation is as bad as extreme decentralisation but both the markets have to coexist, Hybrid is the way.”
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