S.V. Sukumar, formerly of KPMG, (head of strategy and operation consulting) is now with XinFin. Here’s the press release. Here’s the XinFin white paper. XinFin is an open source hybrid blockchain protocol. Its goal is to “help address the inefficiencies that exist in the global trade and finance markets today.”
What inefficiencies? Chiefly those that result from the inabilities of micro, small, and medium-sized enterprises (MSMEs) to avail themselves of the financing that is available to the top end of the range of enterprises. Its prime use business cases include wallets, financial applications for cross-border payments, remittance sale, and so forth.
The white paper also observes that “across southeast Asia and the Pacific region, more than 120 million MSMEs, including both formal and informal ones, are unserved or underserved in terms of credit facilities.”
Sukumar is welcome aboard into a world where thinking big, on that scale, is taken for granted. The press release says that he’ll be responsible for “demystifying the underlying advantages to create concrete awareness.” That sounds like a bit of a concession that there is something mystifying about XinFin’s business plans in his absence. The best of luck to them, though, and to their new arrival.