TraXion ( Providing fair financial access to the unbanked and underbanked ) - ICO live

ofiefrahmad (25)in #cryptocurrecy • 6 years ago

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Hi all the cryptocurrency investors, on this occasion I will explain about TraXion ICo.

ABOUT TRAXION
TraXion focuses on building infrastructure for everyday users. A blockchain- driven environment changes how people do business by enforcing data integrity, accountability, transparency, and trust.

Our solution is a blockchain platform ready for business which means it's scalable, immutable, permissioned, and has all the necessities to execute smart contracts, business provenance and data visibility.

TraXionWallet
Combines our existing fintech and insurtech apps in one ecosystem. We provide white-labeled wallets to business organizations who want to move financial assets at zero cost through tokenization of their local currencies.

TraXionChain
Creates inter-business blockchain solutions for closed network. We deliver customized business solutions to conglomerates requiring interoperability, data integrity, and asset tracking within the supply chain.

TraXionContract
Applies Smart Contracts on workflows for good governance. We can significantly increase the integrity of information, improve performance management, and reduce wastage and corruption.

WHY TRAXION?

Has competent team with relevant skills

The TraXion team have an average combined experience of 20+ years in various industries from business development and entrepreneurship, to cyber security, financial technology, and blockchain.

Has proof of concept and relevant products
Traditional financial products and donation channels are innovated and made available through TraXion’s distributed financial infrastructure for aid candor, elimination of corruption, and financial inclusion.

Has current contracts and partners
TraXion will be among the first distributed platforms on Hyperledger Fabric technology, and has established working ties with several financial technology services for an all-in-one financial solution.

Has network of users and organizations
Individuals, conglomerates, merchants, and non-profit organizations - all in a single infrastructure that enables a crypto economy free of obstruction, fraud, bureaucracy.

THE TECHNOLOGY SOLUTION
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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.

The technology is based on a standard blockchain concept - a shared, replicated ledger. However, Hyperledger Fabric is based on a permissioned network, meaning all participants are required to be authenticated in order to participate and transact on the blockchain. Moreover, these identities can be used to govern certain levels of access control (e.g. this user can read the ledger but cannot exchange or transfer assets). This dependence on identity is a great advantage in that varying consensus algorithms (e.g. byzantine or crash fault tolerant) can be implemented in place of the more compute-intensive Proof-of-Work and Proof-of-Stake varieties. As a result, permissioned networks tend to provide higher transaction throughput rates and performance.

Once an organization is granted access to the blockchain network, it then has the ability to create and maintain a private channel with other specified members. For example, let’s assume there are four organizations trading jewels. They may decide to use Hyperledger Fabric because they trust each other, but not to an unconditional extent. They can all agree on the business logic for trading the jewels and can all maintain a global ledger to view the current state of their jewel market (call this the consortium channel). Additionally, two or more of these organizations might decide to form an alternate private blockchain for a certain exchange that they want to keep confidential (e.g. price X for quantity Y of asset Z). They can perform this trade without affecting their broader consortium channel, or, if desired, this private channel can broadcast some level of reference data to their consortium channel.

This is powerful! This provides for great flexibility and potent capabilities, along with the interoperability of multiple blockchain ledgers within one consortium. This is the first of its kind and allows organizations to curate Hyperledger Fabric to support the myriad use cases for different businesses and industries. Hyperledger Fabric has already been successfully implemented in the banking, finance, and retail industries.

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.
TraXion Token holder may opt to have their wallets linked and receive their payouts directly to their MasterCard linked wallets. The TraXion MasterCard will include an app that links to your wallets and allows for digital transactions and fund movement as well. Additionally, TraXion MasterCard holders may fund their card with USD, CAD, GBP, and EUR. With individual limits to $25,000 and Business Card solutions up to $500,000.

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.

Partnership with SEACOOP

Seamanpreneurs Consumer Cooperative, a community of seafarers driven by entrepreneurship and investing, was founded by Seaman Entrepreneurs Advocacy Center Inc. TraXion will onboard up to a million seafarer members on the TraXionWallet which will ease the cooperative and its members’ mode of membership payments, investments, life and non-life insurances, and remittances.

Partnership with UnionBank - GlobalLinker

Building an e-commerce base would require easier capital mobilization to maximize profitability. TraXion will enable a seamless payments system for GlobalLinker-supported micro, small, and medium enterprises (MSMEs) in an Unionbank marketplace hosted platform which will further help the entities in the Philippines to grow in the digital space.

Platform Features

Today, making international payments in developing countries can be costly, laborious and error-prone, with transactions in different currencies often requiring multiple intermediaries and taking days or weeks to complete. TraXion payments system is intended to simplify the way funds are exchanged around the world, and to reduce settlement time from days to seconds. Each payment is immutable once recorded, and settlement instructions are provided via smart contracts on Hyperledger Fabric.

The elimination of intermediaries and counterparties will naturally make any financial transaction gets through the network faster and cheaper.
● Borderless
● Cheaper
● Faster
● Agentless
● Global
● Scalable
● Auditable
● Smarter

Use Cases
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Launched Wallet – whitelabel version
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.

The same wallet structure will be rolled out soon as part of TraXion Systems and thus will be called HyperTraXion Wallet. Such wallet will hold also payments and remittance functions.
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HyperTraXion Wallet

Analytics: TraXion wants every HyperTraXion wallet user get smarter with his own data.
Rewards System: Imagine receiving cryptocurrencies as reward for using HyperTraXion wallet to pay, remit or donate. Currently, points system is already embedded and is accounted for. Switching to blockchain will only improve the whole process and speed up posting of such rewards.
Management Dashboard: Whether user is an organization or a merchant, TraXion provides a very useful payment/donation/remittance management dashboard for management of data, users and transactions.

Very recently, it’s blockchain idea was one of the finalists (6 out of 140+ startups) in the pitching competition sponsored by some of the government’s agencies tackling disaster preparedness, resilience and recovery efforts using technology. TraXionChain as it was known addresses transparency, accountability and result-tracking.
Smart Contracts: Using smart contracts, receiving party/parties such as NGOs or even Local Government Units agree to fulfill several conditions and/or deliverables they ought to fulfill.

These smart contracts are attached to items or checklists pre-determined before the campaign or program formation. The end-users can view the copy of these agreements and make those organizations.

Crypto-Trading System
The same HyperTraXion wallet will host crypto-trading to enable users to trade their TraXion (TXN) with other cryptocurrencies.

After the ICO, the plan is to move to various countries within Southeast Asia and replicate the partnerships made in the Philippines. Emerging countries with high population of unbanked would be prioritized, then the rest of the world.

Peer-to-peer Lending
In the same HyperTraXion wallet, users can find lenders and borrowers. Built-in deep machine learning will be used to mitigate risk by providing credit score based on historical transactions, ability to pay and transact in the platform, and other behavioral parameters. It will augment its facility with known third party credit scoring system per jurisdiction.

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ROADMAP

Formation of Blockchain Dev Hub
Completed
TraXionHub.com is Manila’s hub for the development of blockchain solutions using hyperledger fabric technology that will also provide additional revenue stream for servicing other financial institutions moving to blockchain.

Launch of Payment Platform
Completed
TraXionPay.com supports payment integration for merchants’ use. Kickstarted partnerships with various payment gateways and marketplace networks.

Launch of Fundraising Platform
Completed
Gavagives.com is an end-to-end fundraising platform that empowers non profit organization improve and manage their donors and donations seamlessly. Offers more than 20 payment options and user-friendly management dashboard with analytics.

Token Sale
Ongoing

TraXion Wallet Capability & SMARTER Fundraising
Q2 2018
Develop peer-to-peer transfers for payments, remittances, and donations. Enhancement of existing fundraising platform to apply smart contracts.

Crypto Trading on Wallet
End of 2018
Aside from payment, remittance and donation capabilities, TraXion wallet will launch cryptotrading facility supporting major cryptocurrencies like ER20, Ripple, NEM, etc.

Whitelabel Remittance Portal
Early 2019
To scale the business, a whitelabel solution for remittance business will be offered to existing agencies and brokers. Using Hyperledger technology, transactions will be faster, cheaper and more secured.

Peer-to-peer Lending
Late 2019
Wallet users will be able to lend to other users using TraXion KYC, Credit Score and Microfinance Solution.

TraXion for the common good continues to soar!

TOKEN SALE
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 the company will conduct a Token Sale. The offering will be a virtual currency token known as “TraXion Token” (TXN).

Token Distribution
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Token Structure
Total TraXion Token : 500,000,000
For Token Sale : 250,000,000
Exchange : 1 TXN = 0.001 ETH (As of April 1, 2018)
Hard Cap : 50,000,000 USD

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