Singapore, Oct. 18, 2023 (GLOBE NEWSWIRE) — Zetrix is a revolutionary blockchain network designed to address various challenges in the digital landscape. This article aims to provide a comprehensive overview of Zetrix and its mission to solve critical problems in the industry.
Zetrix is an interoperable, decentralised blockchain network that offers privacy, security, and scalability. The platform allows developers to build decentralised applications independently while also working with governments and enterprises to establish secure blockchain infrastructure for real-world use cases like cross-border trade and supply chain financing.
The platform targets several problems in the industry and aims to provide effective solutions. One of the key issues Zetrix addresses is the lack of trust in the digital age. With the presence of bad actors, Zetrix aims to create a “trustless” environment where actions can be verified and are tamper-proof. This is achieved through the use of self-sovereign identity (SSI) and verifiable credentials (VC).
Zetrix also focuses on streamlining operations in the supply chain to create more transparent and efficient business processes. In addition, the platform aims to fill the gap of enterprise-ready solutions by offering a platform that utilizes proven technologies.
Governance issues are another challenge that Zetrix aims to tackle. The platform takes a risk-based approach to compliance and governance, aiming to provide a well-regulated environment that fosters innovation. Furthermore, Zetrix prioritizes interoperability between blockchains to facilitate smooth transactions across different networks.
Environmental concerns are a critical focus for Zetrix. The platform uses a Delegated Proof-of-Stake mechanism that is up to 99% more energy-efficient than traditional Proof-of-Work models, aligning with global net-zero carbon emission goals.
Zetrix is also committed to offering compliance-friendly solutions that align with public sector regulations, making it easier to adopt at a large scale. The platform aims to simplify and secure complex trade financing and cross-border transactions through solutions like ZTrade and ZTradeFi, making it easier for local businesses to connect with international counterparts and intermediaries such as customs and financial institutions.
Furthermore, Zetrix aims to democratize access to advanced blockchain technologies for small-to-medium enterprises through subscription-based, easy-to-use services. By doing so, Zetrix positions itself as a leader in technology innovation within the Regional Comprehensive Economic Partnership (RCEP) and aims to solve problems such as the high cost of trade, the risk of fake goods, and environmental issues.
The ZTX token is an integral part of the Zetrix blockchain ecosystem and serves various functions to power the network. It enables on-chain governance, influences the decision-making process, validates transactions, and powers the network’s economic incentive. The ZTX token also facilitates asset tokenization, trade financing, and digitization.
The Zetrix ecosystem consists of various components that work together to create a robust blockchain infrastructure. These include a public blockchain that supports smart contracts, a partnership with the Institute of Industrial Internet and Internet of Things of the China Academy of Information and Communications Technology (CAICT), connection to the Xinghuo Blockchain Interoperability Framework (BIF), inter-chain protocols, enterprise-grade features, and a developer-centric approach. The ecosystem ensures regulatory compliance, provides ongoing support and upgrades, and focuses on cross-border trade within the RCEP region.
In conclusion, Zetrix aims to revolutionize the blockchain industry by addressing critical challenges and offering innovative solutions. With its interoperable, decentralised blockchain network, Zetrix aims to provide transparency, security, and scalability while streamlining various operations and facilitating cross-border trade. The ZTX token plays a vital role in powering the network and enabling its functionalities. Zetrix aims to position itself as a leader in technology innovation and contribute to solving global issues.