Most of the people who were born before the 1980s remember buying everything they ever wanted with either cash or cheque. Then came credit cards and debit cards which got termed as plastic money. So now there was no need to carry cash anywhere, you could just pay the required amount by swiping your cards and using your pin. And then came mobile wallets which were another type of payment mechanism in which money from your bank account was stored in your mobile and you could make your regular payments using it. So even if you forgot your wallet, you still have money with you. So many people have seen the payment ecosystem grow and evolve into what it is right now for the betterment of people. The purpose of every new innovation or change is to get more benefits from it in some way or the other. But yet all these changes in the payment and retail ecosystem hasn't really found solutions for some of the basic problems regarding the traditional payment methods. Even if the speed for domestic and face to face transactions might have increased, it almost takes 2-3 business days to complete a cross border transaction. The cost of transactions also tend to be high due to a lot of intermediaries and payment gateways. There is bureaucracy involved which gives rise to corruption and there is also less transparency in the payment which in return creates lack of trust. The reason why a lot of people have actually not evolved from the traditional cash transactions in a lot of parts of the world is because of these limitations that they face. Hence to solve these problems and create a platform which is fast, cheap, efficient and traceable, a company called Traxion is set to revolutionize the payment ecosystem, digitally, forever.

What does it do?

Traxion is creating platforms which are powered by hyper ledger fabric Blockchain technology and aims at creating a seamless and smooth crypto currency transactions ecosystem with real time buying and selling of both crypto and fiat currency. It has created a lot of platforms like payment platform, wallet, fund raising platform, etc. The aim is to create a digital ecosystem where normal people can use crypto currency for any daily use as a tender currency. So basically if you're on the traxion platform and you go grab a coffee from a shop, you can pay then in terms of traXion token which you could buy in exchange of your national currency and the coffee shop owner who is the receiver can sell them back in exchange of national currency. The traXion platform has three major aspects namely traXionwallet, traXionchain, traXioncontracts. The KYC process and anti-money laundering laws would make sure that there is less corruption and more trust.

TraXion token

The functioning of the TraXion platform are based totally on the TraXion tokens. Also known as TXN. It would be essential to buy things, get into contracts, initiate new platforms etc. One of the major benefits of holding a TXN is that it helps us be a part of the TraXion platform. It makes us eligible to use it as a utility token when and if needed. Also, as more and more people start coming to this platform, and due to limited supply of tokens, their prices are expected to rise considerably. This would also prove beneficial form the investment point of view.

Conclusion

TraXion is set to revolutionaries the functioning of an economy for the good. It would create a verified, fast, traceable and trust worthy platform for the people as well as institutions. It would make sure that all the transactions are verified and traceable by you if you want. It would reduce the number of frauds and would increase the growth of the virtual money market. Hence, there are no second thoughts in saying that TraXion is a new digital ecosystem in the making.

Website - https://www.traxion.tech/

Whitepaper - https://www.traxion.tech/landing2/documents/Traxion%20Whitepaper.pdf

ANN - https://bitcointalk.org/index.php?topic=3043553.0

Telegram - https://t.me/traxionICO

Published by - Etheran

Profile - https://bitcointalk.org/index.php?action=profile;u=1108165