The world has experienced a lot of great changes in some sectors like information and communication since the onset of digital transformation and also there are plans to digitize many more aspects in our daily lives ,most especially the aspect of payments, peer-to-peer lending, remittance, and philanthropy. The Blockchain technology has been widely adopted mainly because of the hype on Cryptocurrencies which as influenced a lot of startups to launch their own cryptocurrencies even without compelling fundamentals.
The TraXion platform on the other hand is of different vision, and it's focused on building an ecosystem where businesses will be very friendly for common good, and creating a world where profit businesses meets with non profit organization into a whole Crypto economy mutually benefiting and frictionless financial transactions.
TraXion aim to solve the following problems
There is little or no speed in making transactions. That is, the average time required to complete a cross-border transactions is three to five business days which includes the final mile transfer through domestic payment network.
The chargers required during transactions is very alarming as it increases as transfer go through the bank where sender request to, then another additional charge going through the Central Bank, and another accumulation when going across the border to the recipient's country's central and local banks respectively.
There is no transparency in making transactions from senders to receivers and this leaves the people speechless about the possible problems that may happen along the way, like longer rollouts, whatnot and server failure. The existence of intermediaries is also a big blow and can likely leads to other problems in the system like bribery which later can leads to lack of data integrity and lack of transaction accuracy, and lots more.
Visions Of TraXion
One of the main vision of this project is to provide truthfulness, accountability, and transparency during depression in any community so as to give more and help more people around the world. Hance, creating a better world for the future generation using the power of Blockchain technology.
With TraXionpPay, using simplified merchant onboarding, any small business owners can receive payments even when customers don't have bank accounts. Mobile payments through QR codes will be utilized to access users' HyperTraxion Wallet and transact efficiently and quickly.
The platform is aiming to out an end to poverty through the introduction of smart contracts which has made the platform more comprehensive and versatile to deliver financial services and aid monitoring.
Traxion aims to be a better bank in a blockchain-driven environment, enabling its community to load, send, save, spend, lend, borrow, and more using a secure, simplified yet compliant application. It is an environment where for-profit meets non-profit sectors and develops a synergy towards corruption-free social impact activities.
The current Blockchain Market
The current blockchain market is emerging at the speed of Light and as allowed a lot of industries to realize the importance of Blockchain in changing times and requirements of businesses and communities and it is illustrated below
Use Cases
TraXion ICO and Token Distribution
To achieve these objectives, an initial coin offering (ICO) will be conducted. The offering will be a virtual currency tokens known as a Traxion Token or TXN. Funds raised will be given as grant to a foundation situated in Southeast Asia (GavaGives Foundation Inc.) to facilitate the development of Traxion’s projects.
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all image sources from the Whitepaper
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