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.
There are start-ups trying to focus on a niche and would not take advantage of economies of scale, which is one of the main advantages enjoyed by traditional financial institutions that may not be as technologically advanced. Traxion plans to offer traditional financial products in a blockchain-driven environment, eventually becoming the crypto-economy for payments, peer-to-peer lending, remittances, savings, insurance, investments, and philanthropy.
Traxion has launched several products and services to prepare itself for this exciting event of involving the crowd in its mission. Traxion plans to have significant infrastructure in place prior to the initial coin offering (ICO). To date, Traxion has built four (4) of the six elements in the proposed economies of scale:
Payment Platform, Wallet, Personal Finance Platform and Fundraising Platform. These four platforms will soon be on TraxChain – connecting people to effectively transact payments, lower the cost of peer-to-peer lending and remittance, transparently account for philanthropic activities of non-profit organizations and enable insurance and investments processed more efficiently using smart contracts.
Traxion is building a crypto-economy to last, therefore, the focus will be on the scale, elimination of middlemen, and decentralizing legacy systems. To achieve these goals, Traxion will offer white-label platforms across the globe and connect them in a distributed, permissioned and secured blockchain. It will be used by banks, operators and agencies in key jurisdictions to process in different fiat currencies and facilitate cross- border transactions without the need for counterparties while also enabling all players donate to causes this blockchain trusts.
Traxion aims to fill the gap between the existing financial system and emerging non-user-friendly technologies by presenting a secure and simple way to use payments and banking architecture that aims to lower financial inclusion barriers and provide financial services to the banked and unbanked. Through the planned integration with Master Card Service Provider, we will build the wallet that enables our user to store or transfer money to any card in the world. The sender and the receiver transact in the local currency and needs no awareness of cryptocurrencies or blockchain technology behind.
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.
End of 2018
$8 130 441
$2 630 441
TRAXION is a platform that creates a friendly ecosystem for crypto currency trading for a common good of all businesses.
The platform builds an infrastructure for everyday users by enforcing data integrity, accountability, transparency and trust through the use of block chain technology. These features are beneficial to all kind of businesses enabling them to earn higher returns hence I would invest in the project
SummaryTraXion is aiming to provide a way to make cryptocurrency viable as a day-to-day payment and trading method. Through their wallet, intuitive smart contracts, and by providing blockchain solutions to businesses, TraXion hopes to create a community and environment of trust around cryptocurrency. This will encourage the daily use of tokens in anything. This will open the door for increased lending, trading, and shopping in the future.Positives Smart contracts Wallet which offers zero-cost transfers Plan to create blockchain solutions for small businesses Active in the crypto community and do regular meetups and speeches. Negatives No solid product available for testing yet Most features of their platform won’t be available till late 2019
Project strong sides: brilliant-look professional-oriented team. Project weak sides: ambitious plans without any supporting by business plan, researches or marketing strategy presented; probably fake payment system website which announced in WP as launched part of project. So our position is negative, probably scam.
Differentiation: Compared to most blockchain-based projects that aim to provide financial services, the company does not adequately describe how the platform differentiates itself from the competition. There is a section in the whitepaper that discusses TraXion versus other platforms, however the discussion is vague. It is stated that “apart from other budding solutions with similar models, TraXion’s potential poses superiority in terms of creating a more complete platform where both the banked and unbanked will enjoy equal yet empowering opportunities and access to resources”. Specific platforms that aiming to achieve the same goal are not discussed.
Market Penetration Potential: The market of financial services is highly difficult to penetrate as a startup company. Especially considering the number of direct competitors that TraXion faces and the regulatory obstacles that will impede their development.
Solution Advantage: The most notable advantage of the platform is that the platform is to be build on existing products/services. Otherwise, the platform does not provide any distinct advantage to most competitors.
Long-Term Vision: The whitepaper contains multiple vague statements regarding the vision of the platform stating that the company aims to ” put trust back to the community to be able to give more and help more people around the world” and that “the possibilities for cryptocurrencies and blockchain for good are unlimited”. It is explicitly stated that beyond financial inclusion, transparency and accountability, the organization “ultimately wants to create social impact”. However, with these long-term goals do not necessarily align with the milestones set out on the roadmap.
TraXion project wants to fill the gap between existing financial systems and emerging technology which are not user-friendly as it could be. In order to do this, the project is representing a simple and secure platform to utilize banking system and doing payments which will reduce the cost of overall financial inclusion barriers. The company is going to launch the ICO to raise funds which they will use for further development of the platform as well as for scaling its business and add benefits in the projects so that participants get an reap utmost value of the system. Moreover, the profit portion will also provide to selected charities in the blockchain which are performing well through donor votes and scoring. If you are looking for best ICO to invest then TXN ICO is a good option where you can invest to reap positive result in the future. However, checking ICO stats and ICO ratings is one of the efficient ways to verify the position of any ICO in the market.