TraXion - A Better Banking Solution Using Blockchain
Traxion will be offering familiar financial products and services while using blockchain to do it. Their plans include, but are not limited to, insurance, peer to peer lending, investments, payments, remittances, savings, and more. Traxion has already built 4 platform elements out of the proposed 6. These elements are the wallet, payment platform, fundraising platform, and personal finance platform. They are trying to build a long lasting platform for cryptocurrency and are focusing on eliminating middlemen, scalability, and a decentralized system. The whole goal is to bridge the gap from new difficult to use cryptocurrency technologies and traditional finance systems.
Traxion hopes to solve a number of problems that regular financial institutions have. One of these problems is that many adults all over the world are still going without any kind of bank account. Traxion can add greater accessibility to banking. Speed of transactions can also be a large problem, often taking several days to complete a transaction. I experienced this recently while doing an ACH fund transfer. I had to wait just about a week to have access to my funds. Blockchain fund transfers can happen almost instantly in many cases. Cost can be another major problem for regular banking with many high fees. Again, blockchain cryptocurrency transfers can cost just pennies, and some are even free. Additionally, blockchain transactions are completely transparent.
Traxion has a partnership with MasterCard in order to allow people who hold tokens to link their wallets to a prepaid MasterCard. Payouts can be made directly to the prepaid card and then used for payment at many locations. Just a few of the advantages of Traxion payments are they are cheaper, faster, global, scalable, agent less, borderless, and smarter. Traxion is well on their way to providing a complete new banking solution for everyone. They are currently holding a token sale. If you have further interest in learning about Traxion, I have provided links below for you to view.
Whitepaper: https://traxion.tech/documents/Traxion%20Whitepaper.pdf
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