The XCF token for energy transactions creates a bridge to the digital economy and a link to a range of DeFi applications.
Currently, most forms of payment are slow and prone to failure. Transaction settlement takes a long time and can be expensive. Once energy is produced by an asset utilizing XCF, the transaction is recorded to the blockchain for fast settlement and easy billing. The system uses smart contracts and combined with local customizations to deliver a plug-and-play Fintech solution to any energy asset.
The system converts the billed amount to XCF tokens at the current rate. These tokens are deposited into the asset owner’s account seamlessly. The token recipient can then use the tokens for other internal services or take them to an exchange to redeem for local currency.
The approach is simple and can be applied to a wide array of services using the XCF token. The technology can be overlayed onto many types of new or existing projects that want to access digital payments for security and efficiency. XCF provides the bridge to the Digital Economy.
Account owners may hold the XCF tokens, they may sell them, they may export them to an address residing outside the private exchange, and/or they may trade them using an outside private exchange.
Both energy sellers and buyers can use the tokens for a range of incentives and DeFi applications in the Cenfura ecosystem.
The Cenfura Platform is available for integration with third-party owned assets, products, and services of all types. This includes the adoption of the XCF token for use by others in smart contracts, inter-application transactions, and payment settlement, which will expand the Cenfura ecosystem.