Noman Chaudhary said Blockchain is the foundation, Crypto will also develop side by side with blockchain technologies
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(Spin Digit Editorial):- Dubai, United Arab Emirates Nov 23, 2021 (Issuewire.com) – During an announcement on ORFIN Token by ORFINEX International, Noman Chaudhary talked about the foundation of Blockchain. He also explained that Blockchain can continue its development without cryptocurrency but it will be used to reimagine a business’ industry particularly in the finance sector (banking and money remittance). Nevertheless, crypto will also develop side by side with blockchain technologies to improve decentralized payment systems (since its foundation will improve) in order to be used in peer-to-peer transactions more efficiently.
Many publicly traded companies worldwide are developing, researching, or participating in blockchain projects. Orfinex Group International is also building an ecosystem for Financial Technologies especially on Forex and Crypto Trading via ORFIN Token which will be a multi-blockchain Technology. Noman Chaudhary has clearly explained the core purpose of the ORFIN (OFN) token and its benefits for Orfinex International through Blockchain Technology. The use case of blockchain is high on their agenda, I think for some sectors/branches this technology would be a massive step forward to make their business processes much more efficient. For example think about cross-border logistic companies, like bulk carriers, clearing at the customs with all the paperwork takes a lot of time, clearing paperwork through speeds up and it’s safe.
Noman Chaudhary also said that Never forget, Blockchain is the foundation of cryptocurrency, Cryptocurrency is not the foundation of blockchain. It is just one use of blockchain distributed public ledger system. So blockchain can certainly develop without cryptocurrency. Especially in any data-intensive sectors like land records, insurance records, medical records, etc. Not in the future, but a lot of governments are now trying to effectively use blockchain technology in some of their record maintenance systems.
India & Pakistan are known for their hostile mentality towards bitcoin, but even they are researching blockchain technology to make it useful for the energy and fintech sectors. So, cryptocurrency is just a practical use case for blockchain and nothing else. The reach of blockchain is much more than we can imagine at this point in time. So Pakistan and India have to work hard on the latest development of cryptocurrencies and fintech technology.
Source :ORFINEX LTD
This article was originally published by IssueWire. Read the original article here.