(Rejected) Finhaven Launches its Blockchain Finhaven Distributed Network to Empower Investors Holding Securities

Financial services platform Finhaven released its private blockchain Finhaven Distributed Network (FDN) and has minted FINToken, the token of its public blockchain Finhaven Chain.

Finhaven is a financial services and technology company with a capital markets platform built on Distributed Ledger Technology (DLT) and digital securities.

In traditional securities trading, most banks and investment dealers hold assets, while users escrow their assets to the platform. The Finhaven Distributed Network (FDN) launched this time is different from the traditional form of investment securities, and aims to provide users with the power to own securities.

The company hopes to develop its FDNs into Oracles in the third quarter of this year.

Oracles are intermediaries or ‘middleware’ that acts as a bridge between several parties during the transfer of data on and off the blockchain. Oracles verify and transfer real-world data so it can flow in and out of various blockchain ecosystems.

Decentralized finance (DeFi) is the most common use case for oracles, as these platforms require the most accurate and reliable data sources. So companies will be able to apply decentralized ID and NFT use cases through its Finhaven Distributed Network.

The company said that it will use the Finhaven Chain to be released in 2023 to strengthen cross-border securities settlement, and allow all sectors involved in securities settlement, including regulators, dealers, banks, etc., to enter the field of blockchain,

One billion FINTokens have been minted so far, with plans to deliver 20% of the total supply (about 200 million tokens) by the end of 2022. By 2023, 20% will be supplied, with a total of 400 million tokens invested in liquidity

In the near future, Finhaven will also launch a white-label Finhaven investment platform for investors and issuers.