COMDEX AND IT’S RECENT LAUNCH
As far back as 2018, Comdex foundation was built and it was accompanied with a vision of creating a product that would increase accessibility to financial services all over the globe coupled with the focus on financial inclusion which belief in an interoperable tomorrow and a potential success. However, this first phase of foundation seemed like a natural first step in realizing this goal and making it come to manifestation.
Along the line, dots coming together with dots forming a line, the journey didn’t fail to stay alive as The road to was a tough one, a tough one in the sense that there were challenges which was expected of a new project.. they’ll always come. However, The cryptocurrency bear market of 2018 brought forth a new set of challenges that affected the market as a whole; a decrease in retail interest, there was no iota of significant institutional adoption, or any meaningful acceptance in general. However, During that time, Cosmos was still very young and fresh and far from the robust. Even in the face of this adversity, the team continued to build toward the inevitable future that was known to be sitting right beyond the horizon.
So during that time, still talking about the challenges faced, those times When the Covid pandemic took hold in 2020, it literally put to halt the global supply chain to its core, further exacerbating problems in an already strained commodities industry. This as a result was initially a $1.5 trillion financing gap ballooned to $3.4 trillion. Realizing that the world was shifting right before our eyes, it wasn’t at its normal balance at all, so the team decided to broaden the scope of addressable problems in order to control or reduce this additional strain placed on the marketplace. To do this, Comdex aims to create a holistic range of interoperable solutions that resolve the industry’s problems and drive value to all stakeholders which is still very relevant.
Now this brings us back to the aim of this article , “Comdex and its recent launch”, Not to forget, the Comdex mainnet launch on November 20, 2021, so, now is the right time to shift the focus from building a single comprehensive solution to a suite of distributed and interoperable solutions that work seamlessly together. However, This approach better addresses current issues being experienced in the real world and aligns with the ideology of the Cosmos ecosystem as a whole. And as said earlier, Comdex began developing its business trading platform in 2018 to promote efficiency and trust in commodities trade and trade financing for SMEs and MSME merchants. SMEs or MSMEs are important to any economy, as they help in generating employment, increase exports, and enhance economic development. The SMEs and MSMEs are the same concepts. SMEs stands for small and medium enterprises. For every country, there is a separate definition of SME. In India, as described above, the SMEs are defined under the MSMED Act,2006 as MSMEs. We can say that the SME is a basic concept, and MSME is its definition in an Indian context. In European countries, these SMEs are classified into small and medium enterprises based on the number of employees. Therefore, if a company has less than 50 employees, it will be considered a small enterprise. The medium enterprise is the one where the number of employees is less than 250. Thus, in India, the classification conforms with the level of investment while in Europe, it depends upon the size of the workforce.
Prior to this, in relation to Comdex objective, which is to develop financial markets and provide investors more access to various asset classes while providing a safer investment option. Their Mainnet launch is critical to constructing a DeFi-CeFi capital flow gateway. After bringing in almost 50 validators on their testnet, Comdex, a decentralized synthetics protocol aiming to bring efficiency, transparency, and confidence to the $17 trillion commodities trading and trade finance sectors, is now deploying its mainnet. So, Comdex’s enterprise trading platform uses the Persistence SDK to create and trade tokenized community assets, addressing concerns of trust and efficiency to let SMEs and MSMEs access finance. However, In the Cosmos ecosystem, users may mint synthetic assets as collateral and trade them on the decentralized synthetics market. Gold, silver, and crude oil are examples of synthetic assets.
Moving forward, Comdex is essentially building a comprehensive ecosystem that lets liquidity from the DeFi market flow into safe and well-structured investment instruments. These instruments give steady fiat returns, allowing DeFi customers to manage their entire portfolio risk. A cryptocurrency portfolio is software that manages your inventory of online currency investments. It helps you track each coin’s performance and provides you with analytical tools.
In fact, Many portfolio management systems provide live feeds and pricing updates from cryptocurrency exchanges. They may even alert you about significant market activities. So, Comdex has developed a comprehensive set of interoperable solutions that address industry issues while benefiting all parties. Its permissionless approach makes it easier to tokenize real-world assets than conventional derivatives markets. Its corporate trading platform also produces real-world commodity NFTs on the Persistence blockchain, allowing users to safely and easily trade ownership of NFTs representing commodities on-chain. In addition to providing liquidity to CeFi debt assets, its ShipFi platform facilitates the digitization of trade finance debt products. However, The digitalization of trade finance is driving down the cost of trade finance transactions and increases the transparency for all parties involved. This can result in reduced credit risk, enhanced cash flow forecasting, and better allocation of working capital. By providing a global electronic counterpart made up of many interconnecting and intelligent networks, the trade finance market can become digital. By doing so, digital trade finance has the potential to be offered by a larger funding pool and to a much broader market, including SMEs.
As it were, in summary, Today’s investors have limited access to a wide range of financial assets. Money may travel freely between asset classes using synthetic assets, regardless of region or law. So this allows users to move capital much more freely between financial markets, which could hold profound implications for the future of finance.