Traxion
TraXion is bank with 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.
MARKET OVERVIEW
Starting in Southeast Asia
Out of over 600 million people, almost half of the entire population are on internet in Southeast Asia,
making it one of the largest internet market in the world; Indonesia leads the race. Due to a thriving young market,
over 70% of the entire population will be internet users by the turn of the decade.
Beyond Southeast Asia
In 2015, cross-border payment flows totaled more than $150 trillion. Most of this volume was consumer
driven, but the value was largely generated by businesses. In this same period, the payments industry earned over
$200 billion in revenue from services provided to payers and payees (nearly 80% resulted from B2B transactions).
Most cross-border payments are still routed via bilateral correspondent banking relationships, a network of banks
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that use the SWIFT messaging protocol to execute transactions. Because each bank performs a function in the
value chain, fees accompany each transaction. The sum of such fees occasionally exceeds 10% of a payment’s
value,
Current Blockchain Market
This market is quickly emerging and a lot of industries are realizing the importance of blockchain in the
changing times and requirements of businesses and communities. This is the illustration of how vast the
involvement of several industries and the dynamics that go with it.
TECHNOLOGY SOLUTION
Hyperledger Fabric Blockchain
Hyperledger Fabric, an open-source blockchain is endorsed by a consortium of large tech enterprises
such as IBM, Cisco, SAP, Intel and Oracle. Hyperledger Fabric project is delivering a blockchain platform designed
to allow the exchange of an asset or the state of an asset to be consented upon, maintained, and viewed by all
parties in a permissioned group. A key characteristic of Hyperledger Fabric is that the asset is defined digitally,
with all participants simply agreeing on its representation/characterization.
Securing a Partnership with MasterCard
An initiative and a part of the roadmap of the TraXion team is to secure affiliation with banks who can
link partnership with MasterCard for its solutions to TraXion token holders for payout solutions linking their
Bitcoin, Ethereum, Monero, Zcash, Coin wallets to their own prepaid MasterCard which will enable P2P payments
as well as access to over 130,000 ATMs in 196 countries around the world.
Securing a Partnership with IBM
As a significant contributor to the Hyperledger community, IBM has the deep knowledge, experience and
scale to help get our blockchain solution up and running. The most famous example of blockchain in action is the
cryptocurrency bitcoin but companies of all sorts—including banks, tech firms, and retailers—have been building
their own “chains” in the belief they will dramatically improve supply chains and lower the cost of record keeping.
And here is where Hyperledger fabric comes in. Our chosen solution will make our integration and communication
with the bank frictionless. Our partnership with IBM, being the leading technology provider to the banks, will
greatly increase scalability of our services.
TraXionWallet
TraXionWallet is currently used as a white-labeled solution of Gavagives.com (see screencap below).
This wallet currently enables transfer of funds collected by non-profit organizations to their chosen bank account
through a disbursement gateway. The same wallet enables users to see all donations listings, data analytics and
other reports.
ROADMAP
Formation of Blockchain Dev Hub (early 2017)
Launch of Payment Platform (mid 2017)
Launch of Fundraising Platform (mid 2017)
Initial Coin Offering (May 2018)
TraXion Wallet Capability (Q2 2018)
SMARTER Fundraising (Q3 2018)
Crypto Trading on Wallet (end of 2018)
Whitelabel Remittance Portal (early 2019)
Peer-to-Peer Lending (late 2019)
More info, visit :
Website : https://traxion.tech/
Medium : https://medium.com/Traxion-tech
Facebook : https://www.facebook.com/Traxion.tech/
Twitter : https://twitter.com/Traxiontoken
Telegram : http://t.me/TraxionICO
Author : Anzal RK
My Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1115678
ETH : 0x7b56837589A428A507aB76b0Df46BfE7D2fa5C38
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