TRAXION - The Token that makes Finance Fair and Accessible for All
Hello to all readers of my blog. Today I would like to present to your attention an overview of another very promising campaign. Go.
WHAT IS TRAXION?
Traxion is a rather interesting concept and cryptocurrency project that is trying to take full advantage of the Hyperledger Fabric, which is something that has been avoided by a number of projects, up until now. However, we clearly need to explore exactly what it is that they are planning on doing to determine if there is a future for it or if they are completely missing the point.
TraXion sets as the purpose creation of the cryptocurrency bank including all services and advantages of the existing banking system in combination with modern technologies. On this platform it will be possible to store means, to pay off with them, to take on credit, to invest or create campaigns for fund raising. Non-profit organizations and startups can develop now finding funds for the projects without excess bureaucratic red tape.
TraXion focuses on building infrastructure for everyday users. Blocked environment changes how people work together by implementing information integrity, responsibility, transparency, and trust. Traxion has already built 4 platform elements out of the proposed 6. These elements are the wallet, payment platform, gathering pledges platform, and personal finance platform. They are attempting to build an enduring platform for cryptocurrency and are concentrating on eliminating middlemen, adaptability, and a decentralized system. The whole objective is to bridge the hole from new hard to use cryptocurrency technologies and customary finance systems.
Traxion hopes to solve a number of problems that regular budgetary foundations have. One of these problems is that numerous grown-ups everywhere throughout the world are as yet abandoning any sort of ledger. Traxion can add greater accessibility to managing an account. Speed of exchanges can likewise be a large problem, often taking several days to complete an exchange. I experienced this recently while completing an ACH finance transfer. I needed to hold up pretty much a week to have access to my assets. Blockchain subsidize transfers can happen in a split second by and large. Cost can be another significant problem for regular managing an account with numerous high fees. Once more, blockchain cryptocurrency transfers can cost just pennies, and some are even free. Moreover, blockchain exchanges are completely transparent.
TraXion has begun to create the platform before ICO start. And today 4 of 6 basic elements of the platform are already created:
WHY TRAXION?
WHAT ISSUE DOES IT SOLVE?
Have you ever wanted to pay for your meal with cryptocurrency? How about sending a cryptocurrency payment to your local power company for the electric bill? As it stands now, cryptocurrency still has quite a few risks and isn’t the most trustworthy form of payment. TraXion wants to fix this by creating a platform and community that’s based on trust. They plan to do this through their smart contracts which provide clear and concise data about each transaction.
PROJECT INNOVATIONS
The movements of means will become simpler. In existing banking and payment service provider there is a set of shortcomings due to the lack of integration between all her members, closeness and opacity. At fee or attempt to take the credit to clients it is necessary to pass through paperwork in several instances, to have a set of accounts in different currencies and so on. The bank platform on a blockchain will help to solve all these problems. Except this TraXion will help to avoid the risks connected with roguish operations and clients receiving at the same time benefit from financing of payments.
The movement to poverty eradication. Digitization and decentralization of the platform will make a series of records of all of transaction every second which don’t demand intervention. Thus TraXion limits corruption and will help to solve a poverty problem as on places and all people can have equal access to all opportunities and privileges. It isn’t realistic to say a little that the blockchain will become the end of poverty as it is very extensive problem but disposal of corruption and open transactions will go to the benefit. Set of channels of receiving help.
The power of a blockchain is boundless. The charitable organizations will feel advantages of the automated “clever contracts”. Various funds and certain philanthropists will see as well as where their means arrive that creates more trust in such system. System better and more perfectly it is possible to create a blockchain with use.
THE TECHNICAL ASPECT OF TRAXION
The new project is built on the Ethereum platform, so that in itself is a good start for its development. What they have done is create a number of different platforms that are all connected but also capable of operating individually.
What they have is a section for personal finance, another for fundraising, yet another for making payments and so much more. Each platform and product that they operate and produce will then appear on what is known as the Traxion Chain and it is hoped that it will allow people to connect and form a community with their products at the heart of it all.
Each transaction, whether it be personal finance products, insurance, investments or donating money to an organization, is controlled by the use of Smart Contracts. Their intention is to create a crypto-ready economy which is completely decentralized in nature and allows for a greater sense of control for the individual rather than them being told what has to happen and when.
Also, by using the blockchain, they are going to eliminate the need for third-parties which, in turn, reduces costs with these savings then being passed onto the customer rather than lining the pockets of the financial institution.
So, the actual process side of things runs along familiar lines with people stating what they want to do and the information being placed on the blockchain and public ledger. This cannot then be altered with the Smart Contracts that are in place providing a sense of security for each party involved in the transaction. From this point of view, they are doing nothing different from the norm.
THE ADVANTAGES OF USING TRAXION
It is pretty clear that there are various advantages of using the platform that the project is seeking to create. Obviously, the security that comes with using this technology is huge, but aside from that, the way in which the different platforms are all inter-connected and yet also working independently is a good move.
The way that third-parties are removed from the equation is also an advantage as that alone can make a huge difference to the fees that have to be paid, and by using Smart Contracts there is less chance of you losing money due to a scam.
TRAXION WALLET
Combine existing fintech and insurtech applications in a single ecosystem. We provide white-labeled purses for business associations that need to move their budgetary assets at no cost through the tokenisasi of their nearby currency. TraXion, a scalable, unchanged and allowable platform, which enables smart contracts, enhances business and provides free data viewing. The team wants to use the latest IBM Hyperledger Fabric technology to provide network, business and connectivity integration among people. In bad words, working on the TraXion platform, for example, payments will be secure because it integrates KYC from clients and hosts; Furthermore, systematic payments will be cheaper with smart contracts. TraXion wants to reach out to everyone who does not stand up and let them adopt this technology by keeping their money safe in TraXion’s wallet, so it works like a bank system that is as real and unbelieving as it deletes any intermediary.
TRAXION CHAIN
Create an inter-business blocking answer for closed networks. We provide customized business answers for conglomerates that require interoperability, information integrity, and asset following in the store network.
TRAXION CONTRACT
Implement Intelligent Contracts on work processes for good governance. We can fundamentally improve data integrity, improve performance management, and reduce waste and debasement.
Traxion has a partnership with MasterCard in order to permit people who hold tokens to connect their wallets to a prepaid MasterCard. Payouts can be made directly to the prepaid card and afterward used for payment at numerous locations. Only a few of the advantages of Traxion payments are they are cheaper, faster, worldwide, scalable, agent less, borderless, and smarter.
Traxion is well on their approach to giving a complete new managing an account answer for everyone. They are currently holding a token sale. On the off chance that you have further interest in learning about Traxion, I have provided interfaces below for you to view.
TOKEN SALE SUMMARY
TraXion is building a blockchain to last by focusing on scalability, elimination of middlemen and decentralization of legacy systems. We will raise initial funds to achieve these goals through a token sale for our TraXion token (TXN).
TOKEN DISTRIBUTION
FUND ALLOCATION
ROADMAP
TEAM
ADVISORS
PARTNERS
FOR MORE INFORMATION PLEASE VISIT:
Author: Feryperrot
