From Internet Pioneer to Blockchain Visionary: Ritesh Kakkad’s XDC Network Is Redefining Global Finance

At the World Trade Center in New York, leaders from finance and technology gathered to talk about the future. Among them was Ritesh Kakkad, co-founder of XDC Network, a blockchain built on three key promises of speed, cost efficiency, and sustainability.

Kakkad’s journey began in the early days of the internet. “If the internet digitized information, the next step had to be digitizing value,” he explained. That insight drove him toward blockchain more than a decade ago. However, instead of replicating Bitcoin or Ethereum’s energy-intensive models, the XDC Network focused on a new path.

The network runs on proof-of-stake consensus, which reduces energy consumption by 99%. Transactions settle in two seconds with near-zero fees, a dramatic shift from the days-long settlement cycles of traditional banking. “Money and value should move instantly,” Kakkad said.

Building for Inclusion

Beyond efficiency, Kakkad sees blockchain as a tool for financial inclusion. With 1.5 billion unbanked people worldwide, he believes blockchain wallets on mobile phones can unlock access to financial services where banks and ATMs can’t reach. “The technology can give dignity and opportunity to billions,” he noted.

Institutions Catching Up

As regulations clarify globally, from Japan to the U.S., institutional adoption is accelerating. Fortune 500 firms, once cautious, are now racing to integrate blockchain for stablecoins, tokenized real-world assets, and cross-border settlements. “There’s a FOMO among big players now,” Kakkad said.

The U.S. regulatory landscape has been particularly encouraging. Kakkad points to the Genius Act, which ensures U.S.-issued stablecoins are fully backed by treasuries or fiat. “It’s a landmark decision that gives confidence to fintechs and institutions alike,” he emphasized.

Expanding to Wall Street

After launching an ETP in Europe, XDC Network is now eyeing an ETF in the U.S., a move Kakkad calls critical for unlocking trillions in traditional capital. “ETFs give easier access for both institutions and retail investors. It’s the bridge we need between legacy finance and blockchain.”

The company is also finalizing a New York office, positioning itself in the world’s financial hub to work closely with custodians, exchanges, and regulators.

Tokenizing Commodities

Beyond finance, Kakkad is bullish on commodity tokenization. Through a partner project, Comtech Gold, XDC has already tokenized 150 kilograms of gold. Tokenization allows investors to hold fractional amounts, down to 0.001 grams, while enabling seamless liquidity. “The commodity market is worth hundreds of trillions. Even a 1% shift into tokenization is an $8 trillion opportunity,” Kakkad said.

What’s Next

With regulatory clarity, institutional buy-in, and a proven model, Kakkad believes blockchain’s inflection point is here. “We’re building not just for efficiency, but for trust, inclusion, and a more sustainable financial future.”