TraXion

TraXion – Frictionless with the Banks, Borderless for the People.

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 TraxionChain – 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 crossborder 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 MasterCard 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 virtual currency tokens known as a TraXion Token or TXN. Funds raised will be utilized by the TraXion team for further developments of the platform, scaling the business, and added benefits in the projects to come to provide utmost value to all of its participants in the system. A portion of the profits will go as grants to chosen charities in the blockchain that are performing well through scoring and donor votes.

In a world of digital transformation, we see great changes happen in how we share information and communicate. There are attempts to digitize many aspects of our daily lives, especially in the world of payments, peer-to-peer lending, remittance, and philanthropy.

In the recent past, blockchain technology has gained its popularity because of the hype on cryptocurrencies. Such hype has swayed a lot of startups to launch their own cryptocurrencies even without compelling fundamentals. This trend has emerged because new participants have been nimbler in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitive advantage that new players enjoy is likely to be a short-lived one as no economy of scale is put into thought.

The vision of TraXion is different; we are focused on building an ecosystem where businesses will be very friendly for the common good. Imagine a world where for profit businesses meets non-profit organizations into one whole crypto economy mutually benefitting borderless and frictionless financial transactions.

We believe that digital means distributed, hence TraXion, a brainchild of its parent company, Pluma Technologies Ltd., will issue digital tokens on the distributed blockchain as an initial coin offering (ICO) to allow supporters to contribute to the development of a purely digital ecosystem. The aim of the ICO is not to test a speculative idea, but to provide the capital to enable TraXion as a product to expand its existing services to provide more advanced solutions to existing payment gateways, remittance centers, and fundraising platforms.

Send & Receive Payments Seamlessly

Payment gateway providers have not yet crossed that barrier of gruesome integration using very complex codes and procedures. With TraXionPay, 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.

Merchants accepting payments online oftentimes experience fraud and interrupted flow of capital. With the platform’s proprietary know-your-customer (KYC) solution, TraXion will help the businesses on the system to avoid risks of encountering fraudulent transactions and customers, while benefitting from payments financing.

Ultimately, TraXion will provide a white-label platform that integrates multiple payment options on a blockchain with a built-in KYC for onboarding of merchants and be used by any chain of merchants and its subsidiaries.

Moving Towards Ending Poverty

Digitization in a decentralized system will invoke vast networks and produce a series of records of all transactions every second that are tamper-free. As such, TraXion restricts corruption and will help solve poverty as the field levels and all people can have equal access to all financial services and benefits.

Blockchain is truly shaping up to be the technology that could be the vehicle for social change. However, it’s still a bit of a reach to claim that blockchain will be the end of poverty. Besides, poverty is a multifaceted problem that needs a holistic solution. What’s exciting about TraXion is that it can influence several of the factors causing poverty.

Theoretically at least, an affordable, fast, and transparent means of transacting holds much promise to benefit the poor. The technology has also developed significantly beyond the payments advantage. The introduction of smart contracts has made TraXion platforms more comprehensive and versatile to deliver financial services and aid monitoring.

Transparency of Aid

TraXion envisions truthfulness, accountability, and transparency during depression in any community. Aid from individuals and corporations should not be put to waste or worse, to a corrupted system of either government or non-governmental organizations tasked to distribute it.

The possibilities for cryptocurrencies and blockchain for good are unlimited. Philanthropies will benefit from automated “smart contracts” with their grant recipients, which only receive funds when grant conditions are met. Blockchain provides foundations and social impact investors with more robust and transparent impact tracking and measurement systems. Foundations could even issue their own digital currencies or operate charityspecific cryptocurrency exchanges.

TraXion aims to put trust back to the community to be able to give more and help more people around the world. A better world for the future generation using the power of blockchain technology.