TraXion: the global financial system on Blockchain
We see that our world is changing, we have become differently transmit and store information, pay for purchases and even communicate. We are trying to digitize everything. Why not apply this in the sphere of payments. There was a blockade with its capabilities and financial systems began to actively introduce this technology into the work. And this is correct, because if there is something better, why torture with the old schemes, especially since they are already ineffective and spend a lot of resources. Now you can easily pay, transfer or exchange funds. The only pity is that for daily use it’s still a bit difficult. But there are many platforms that seek to fix this and make life easier for us. Each sphere gradually introduces these technologies, especially it touched the financial industry. TraXion is one of such projects, which aims to achieve success in spreading the block technology, creating a global financial platform.
1. What is TraXion?
2. Goal of the project
3. What problems does TraXion solve?
4. Advantages How does the platform work?
5. Details ICO
6. Conclusion
What is TraXion?
TraXion is a scalable, authorized platform for business users. The team is configured to create the ideal infrastructure for daily use. With the help of blocking technology, the integrity and security of data storage, reporting, reliability and transparency of all operations will be ensured. The platform is set to increase the level of trust between users due to smart contracts. Using TraXion, you can quickly and inexpensively carry out transactions, even with small starting capital, while not worrying about security.
Goal of the project
The goal of the TraXion project is to improve the banking system and become a leader in this field, creating its global platform without borders for blocking. The creators conceived that it will not just be financial transactions, but also that the platform participants will contribute to the development and favorable environment in this. What I mean: all organizations within the platform will have one crypto-economy, mutually beneficial and unlimited.
What problems does TraXion solve?
Using the Blockchain technologies, the platform can solve a number of problems that exist in the current banking systems, let’s see what these problems are: Low speed of transactions, especially when it comes to participants from different countries. High transaction costs. Again, if it concerns international payments, then a commission for the exchange rate is added to the standard commission. For example, you sent money to another member, but you can not trace their way of travel. You do not know where they are, how many more they will be on the road and how much they will eventually have to pay. Transactions require many intermediaries (brokers, banks, etc.) that complicate the whole process, while increasing the cost of operations and reducing the effectiveness of the system.
Advantages
Solving all these problems, TraXion offers an improved financial system that will make all operations easier and more reliable for users around the world. Here are the advantages of the platform: No boundaries. Wherever you are and with users from whatever countries you collaborate, you do not need to worry and overpay. Low cost. Avoiding intermediaries, the platform saves you money and offers minimum commission fees. Speed. Increasing the speed of transactions, you do not need to wait for hours before the payment. Audit. There is an opportunity to audit, view reports and do their work more efficiently.
How the platform works
Now let’s take a closer look at how the platform works. Here are the main components it will contain: TraXionWallet Within this component, fintech and insurtech applications will be combined. That is, you will be provided with financial services and maximize efficiency by using the latest technologies.You will be able to transfer and exchange assets without commissions if you use system tokens. Also provide analytical reports and summaries and a system of rewards, for which you can follow in your wallet.TraXionConnect This component will be responsible for executing workflows, using smart contracts to manage more effectively, increase the level of trust and more holistically store data. The records of the transactions carried out can not be changed. TraXionChain TraXionChain is a component that creates solutions for closed networks. It will provide customized business solutions for companies, providing systems interaction, data integrity and allowing you to track how your assets move in the chain. Open API The public API will allow sellers, even those who are not platform participants, to participate in the ecosystem, receive payments, money transfers, donations and so on, using the HyperTraxion wallet. By the way, with the help of this purse will be the possibility of Peer to Peer lending. Using machine training will reduce risks, because credit scores will be based on the history of transactions, how you paid for them and other factors of behavior. Authorized network The authorized TraXion network allows you to make transactions public or hidden and supports smart contracts. Using this network, it is possible to increase the bandwidth and conduct about 100 transactions per second.
Details of the ICO
Token: TXN The beginning of the public sale: June 15, 2018 Completion: July 31, 2018 Price of the token: 0.001 ETH Hardhat: 100,000 ETH
The proceeds from the sale of the tokens will be distributed as follows: 35% will go to further development of the platform; 30% - for business development; 20% - compliance with all regulatory requirements; 15% will account for operating expenses.
To support the project will be released its own platform tokens. The creators emphasize that they do this not to achieve a speculative goal, but to raise capital for the development of the platform. As you might guess, tokens will be used for all operations, interaction between participants, interaction with the platform and commission payments, and the platform will reward its users for certain actions.
Conclusion
TraXion aims to create an improved financial platform that will be more comfortable to use and less expensive. It will provide limitless transactions, transparency and other benefits that everyone can appreciate: organizations, associations, individuals and many others. The creator of the project Ann Cuisia has more than 20 years of experience in information technology, co-founder Tamer Maher has more than 20 years of experience in software, and Fernando Contreras Jr is another co-founder who has more than 30 years of working with technology behind him, it is he who founded IPhil Communications, which is one of the first Internet services. Something, but the team does not cause doubts. Follow the news on the site, there you can find many more useful information.
ETH: 0x9bc91B53149F76324065a8A8bf245562e157898f
