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TraXion (TXN) ICO Review – ICO Token News

TraXion is a project that takes the benefits of new cutting-edge IBM Hyperledger Fabric Technology to provide seamless integration as well as outstanding connectivity among different varieties of networks, businesses and individuals. The company is focusing on introducing a better bank which is powered by advanced blockchain technology.

All about TraXion

TraXion is targeting to provide improved bank in a blockchain-driven environment that helps the community to send, save, spend, load and borrow in a secure and simple way with a compliant application. They are offering a platform where profits meet with non-profit sectors and build a synergy towards corruption-free social impact activities.

The company is planning to provide traditional financial product in a blockchain-driven environment to make crypto-economy as a key element for payments, remittance, saving, investments, peer-to-peer lending and philanthropy. They have launched various products and services to encourage the crowd to participate in the accomplishment of their mission. TraXion has developed four of the six elements in the proposed economies of scale that includes Wallet, Payment Platform, Fundraising Platform and Personal Finance Platform.

All these platforms will be soon come on Traxion Chain to helps people in connection with each other and allow effective transact payment with reducing cost of peer-to-peer lending & remittance, activities of a non-profit organization and transparently account for Philanthropic activities of a non-profit organization. Moreover, it also allows insurance and investment processed efficiently by utilizing smart contracts.

Traxion

The company is endeavoring to develop a crypto-economy with aim of eliminating the role of middlemen and decentralizing legacy system. To achieve this goal company will provide a white-label platform around the world and linked them in one distributed and secured blockchain.  This platform will be utilized as a key jurisdiction by banks, agencies and operators to process in varied fiat currencies and provide cross-border transactions without any need of counterparties as well as also allow all players to denote for the cause of this blockchain trusts.

By providing TraXion solution, the company wants to build a bridge between existing financial system and developing non-user friendly technology. They are presenting a secure and simple method for using payment and banking architecture that helps in reducing financial inclusion barrier and offer financial services to banked and unbanked.

To achieve the target, a company is going to launch an Initial Coin Offering (ICO) to raise the funds. For this, company will offer virtual currency token abbreviated with TXN.  If you are also interested to participate in this ICO but new in the crypto world then you should read the ICO Beginners Guide that helps you to know more about it. However, nowadays many companies provide airdrops before launching their ICOs (such as AuctusBunnytoken,  SealUplineDenCity)   to attract investors’ attention for their project promotion.

Prime Vision of TraXion

To Ensure Send & Receive Payments Seamlessly

Payment gateway providers are still troubling with the issues of gruesome integration that required complex codes and procedures. By providing TraXion pay, the company wants that small business owner can easily receive payments even if customers don’t have their own bank accounts. They can do mobile payment by using QR codes which will be used to access user’s HyperTraXion wallet and transact in an efficient and quick manner. Most of the time merchants experience fraud and interrupted the flow of capital while accepting online payments. To eliminate this issue TraXion platform offer know-your-customer (KYC) solution that helps business on the system to get protected from fraudulent transactions and customers. In short, TraXion will offer white-label platform linked with various payment options on a blockchain with built-in KYC for onboarding merchant as well as also utilized by any chain of merchants and its subsidiaries.

Stepping Ahead To End Poverty

The introduction of digitization system will raise numbers of networks and provide a series of records in every second of all transactions which are tamper-free. In this way, TraXion will restrict the rate of corruption and also help in resolving the poverty as a field level and people will get equal access to all financial services and benefits. Blockchain is a playing well in shaping the technology and it could help for a social change. But, we can’t say that blockchain will end the poverty. We all know, poverty is a complex problem that requires a holistic solution.  In this situation, TraXion solution is capable of influencing the several factors responsible for causing poverty.  The platform is at least affordable, quick and provides a transparent mean of transacting which is promising to benefit the poor. TraXion is using smart contracts that make it more comprehensive and versatile to provide financial services and monitoring.

Transparency of Aid

TraXion is aiming to deliver trustfulness, transparency and accountability at that time when any community is troubling with depression. Any assistance from corporations and individuals should not be wasted or worse by any corrupt system of government and non-government organization which are tasked to distribute it. In this situation, cryptocurrencies and blockchain can prove beneficial.  The charities can benefits through automated “smart contracts” with their grants receipts which mean they receive funds only when listed grant conditions are met.  The blockchain technology proves beneficial for foundations and social impact investors by providing more robust and transparent tracking and measurement systems. Foundation can also issue their own digital currency or operate charity focused cryptocurrency exchanges. The platform is aiming to develop a better world for future generation by utilizing the power of blockchain technology.

Traxion wallet

Why to choose TraXion?

Has Competent Team with Excellent Skills

The company is supported by a talented team which has average combined experience of 20+ years in different industries that includes cybersecurity, business development, entrepreneurship, financial technology and blockchain.

Work on Proof of Concept and Relevant Products

The traditional financial products and donation channels are innovated and easily available with the help of TraXion’s distributed financial infrastructure. This will help in aiding candor, eliminate corruption and financial inclusion.

Has Current Contracts and Partners

TraXion will be the first distributed platform that builds on Hyperledger Fabric technology. It has well-developed working ties with various financial technology services for an all-in-one financial solution

Network of Users and Organizations

All individuals, merchants, conglomerates and non-profit organizations are connecting at one single infrastructure that allows crypto economy free from fraud, bureaucracy and obstruction.

What Makes TraXion Different From Others?

The blockchain technology is grabbing huge attention among tech community as well as in individual investors. It is also gaining popularity in those groups across the world who wants to innovate in the financial technology space and develop a blockchain based platform to resolve the prime issues faced by traditional financial systems.

In the decentralized banking sector, TraXion is also vision like other platforms which are endeavoring to revolutionize the public access to financial products and services. The platform is stepping ahead with the goal of creating a frictionless banking system that runs on a transparent and shared ledger. This will allow financial transaction including lending, investments, lending, etc.

In comparison to other budding solution with same models, TraXion’s provide great benefit in term of developing a complete platform where both unbanked and banked can enjoy the equal empowering opportunities with easy access to resources. The platform is using Hyperledger Fabric that makes the solution more enterprise-grade as well as allows the business to migrate and pledge to a system with the outstanding support of a vast network of transactions with clients and non-profit organizations related to the diverse network. Apart from this, it is an Open Banking Model where all people across the world can enjoy the benefit of secure and concrete infrastructure comprises of all financial service required.

The banking systems can become portable if users can utilize wallets in their smartphones without any need to go the physical banks. Even, if users don’t have TraXion token they can use fiat currencies initially on the public interface and token holders can exchange tokens with other cryptocurrencies when they want.

Apart from it, TraXion solution also expands the impact of charity.  A token holder can donate as per their wish for social, personal and charitable cause as well as send aid during the time of emergency. The best part is that they can track their donation completely from start to end.  This will develop the confidence in the donors because now they can see that how their donations are used for helping people who really need it.

What Problems TraXion Is Solving?

The platform is designed with the aim of resolving the prime issues which are discussed below:-

1 – Speed

According to research and analysis of proprietary McKinsey in 2015, all the cross-border payments take the average time of three to five business days to complete cross-border transaction that includes final mile transfer through domestic payment network like Automated Clearing House.

2 – Cost

A next issue is the fees which accumulate along the process of money transferring to the end receiver. The money transfer charges increasing when a transfer is going through with bank where senders request to then another additional charge going through a central bank and next one is accumulated when going across the country to the recipient country’s central and local bank, including the foreign exchange fees in the process. The average charge is generally below 10% on a cross-border transaction but if the volumes are high then charges are not fixed and transparent.

3 – Bureaucracy

There are numbers of intermediaries, agents and brokers exist that allow the presence of bureaucracy in various workplaces.  Currently, the involvement of multiple agents in the system for data verification makes the process more complex and complicated. Due to the slow process and complex work, many systems are facing various issues such as shortcuts and bribery that affects the data integrity and accuracy of transactions.

4 – Transparency

This is a common issue that comes when transactions are in transit and a process is not traceable. The senders and receivers are just hopeful that money will be delivered on time at low charges. There is no transparency occur during the process of transfer from sender to a receiver that ultimately leaves the people dumbfounded regarding the possible hazards that can happen along the way like server failure, longer rollouts, etc.

TraXion solutions are efficiently designed with the vision of eliminating all the above-listed problems. For example, TraXion payment system is specifically developed to simplify the way through which funds are exchanged across the world and also reduce the time from days to seconds for the settlement process.  Once the payment is recorded it is immutable and settlement instructions are provided through smart contracts on Hyperledger Fabric. By eliminating the role of counterparties and intermediaries they will make financial transaction process faster and cheaper.

Soon, the company is launching its ICO to expand business and raising funds for its project development. Do you want to know how to invest in ICOs then read ICO marketing guide and ICO planning guide to understand the ICO concept.

Traxion tokens

ICO Details

  • Start of Pre-Sale : 1st May 2018
  • End of Pre-Sale : 31st May 2018
  • Start of Crowd Sale : 15th June 2018
  • End of Crowd Sale : 31st July 2018
  • Total TraXion Token : 500,000,000
  • Token symbol : TXN
  • Token Price : 0.001 ETH
  • Hard Cap : 100,000 ETH
  • Exchange : 1TXN = 0.001ETH (As of April 1, 2018)

Token Distribution

  • Pre-Sale : 8%
  • Crowd Sale : 40%
  • Reserve                : 20%
  • Team : 20%
  • Community : 5%
  • Bounty : 3%
  • CSR : 2%
  • Seed : 25

Fund Allocation

  • Legal & Compliance : 20%
  • Operations : 15%
  • Platform Development : 35%
  • Business Development : 30%

Summary

TraXion project wants to fill the gap between existing financial systems and emerging technology which are not user-friendly as it could be. In order to do this, the project is representing a simple and secure platform to utilize banking system and doing payments which will reduce the cost of overall financial inclusion barriers. The company is going to launch the ICO to raise funds which they will use for further development of the platform as well as for scaling its business and add benefits in the projects so that participants get an reap utmost value of the system. Moreover, the profit portion will also provide to selected charities in the blockchain which are performing well through donor votes and scoring.

If you are looking for best ICO to invest then TXN ICO is a good option where you can invest to reap positive result in the future. However, checking ICO stats and ICO ratings is one of the efficient ways to verify the position of any ICO in the market.

Team

  • Ann Cuisia
    Ann Cuisia
    Ann Cuisia
    With her 20+ years of information technology experience, she has led several women startup founders. Prior to entrepreneurship, she has advanced in the corporate scene of banking and finance and have spent a good number of years in payments and donations. She has been a pioneer in the Philippines for helping non-profit organizations achieve its digital transformation and online giving facilities. She is passionate about social impact and is now leading the whole TraXion direction on blockchain for the common good.
  • Tamer Maher
    Tamer Maher
    Tamer Maher
    Possesses 20+ years of experience in the software field, ranging from working as a software developer, project manager, product manager, scrum master, Chief Technology Officer, and VP Of Finance and Operations. Tamer has worked on consulting in different industries on different scales and helped numerous companies and entrepreneurs turn their business ideas into successful working companies. He also has global experience working with companies in US, Europe, and MENA region. In addition, he is PMP certified and holds an MBA.
  • Fernando Contreras Jr.
    Fernando Contreras Jr.
    Fernando Contreras Jr.
    Fernando Contreras Jr. is a serial entrepreneur with over 30 years of experience in electronics and open source technology. He founded IPhil Communications, one of the first Internet service providers in the Philippines, and several companies including Imperium Group of Companies. He was a founding member of and held top positions in various trade and industry groups on Internet services and open source related technologies, was recognized by both local and international press on his work and achievements, and was part of the Top 10 Most Influential Filipinos on the Internet.
  • Roberto Calida
    Roberto Calida
    Roberto Calida
    He has been in the banking and financial industry for over thirty years. Roberto is a Management Consultant and also a Certified Public Accountant. He has deep knowledge about the processes and techniques of financial intermediation, securities trading, and the dynamics of making and getting purchases. He is the CEO of Doulos Subic Inc., a consulting company specializing in financial services and project development assistance. He also has been the CFO for Subic Bay Marine Exploratorium Inc. (SBMEI) back in the years 2007 to 2010.
  • Miguel Pilar
    Miguel Pilar
    Miguel Pilar
    He is the President and CEO of Pilar Corp, an IT consultant and Real Estate holding firm. An entrepreneur, Stock, Forex, and crypto trader, and a resource speaker in the cryptocurrency space since 2015 in North America and Asia. Miguel is a very driven business developer and is in charge to create waves of enthusiasts for TraXion group.
  • Alvin Veroy
    Alvin Veroy
    Alvin Veroy
    Alvin has over 20 years of experience in IT and Engineering products focused on IoT. He co-founded several start-ups specialized in biomechanics and holds several product prototypes based on Arduino, OpenCV, and other machine learning libraries. A regular attendee of BSides Las Vegas and DEFCON, and founded a group called Lonelyhackers in Southern California. He is in charge of TraXion’s infrastructure and data privacy. He has come home from the US to be full time with TraXion.
  • Jason Dela Rosa
    Jason Dela Rosa
    Jason Dela Rosa
    With over 18 years of development and management experience in the Tech, eCommerce, eLearning and Business. One of the founders of MyCareBuddy, a prepaid telemedicine and telehealth service. He is currently also working on ventures and innovations in the Travel and Human transport industry, Logistics, eCommerce communities, Digital Entertainment and Streaming Platforms (Bayaniradio.ph). He finished BS Management Information Systems at the Ateneo De Manila University.
  • Jojy Azurin
    Jojy Azurin
    Jojy Azurin
    He actively promotes entrepreneurship in the region as an adept mentor. Jojy is a notable speaker at technology and business events. He already made two exits from his previous tech startups. He is also the Manila co-director Founder Institute, the world's biggest incubator for startups. He is in charge of TraXion’s strategic partnerships and white-label opportunities.
  • Raymonde Sawal
    Raymonde Sawal
    Raymonde Sawal
    Raymonde is a multilingual, half-French and half-German professional. She is highly accomplished in business development in the European Markets for over twenty years. With her management consultancy in sales, she specializes in products needing explanation and critical target groups for B2B. She has also authored different books for sale acquisition. In her blogs, she pictures out the way of life in the future. And for her, TraXion will be part of it in making the world better.
  • Jon Margalit
    Jon Margalit
    Jon Margalit
    He has dedicated his career in building profitable businesses, innovating sales processes, and increasing lead conversion to multiply revenue. Holds Bachelor of Arts in Business Management from San Diego State University in addition to a Hubspot Inbound Marketing Certification and a Salesforce University Certification. He earned 1st Place in CyberTECH’s Pitchfest in 2015. Exited 3 startups.
  • Iurii Znak
    Iurii Znak
    Iurii Znak
    Iurii is a founder of Respect Studio, a digital marketing agency that elaborates effective digital strategy and helps businesses attract B2B customers. He has more than 6 years of experience in purchases attraction starting from governmental industry as a senior specialist in attracting purchases, to the Token Sale projects where he helps to engage investors in the campaign.
  • Jourdan Sebastian
    Jourdan Sebastian
    Jourdan Sebastian
    He is a movie director and humanitarian activist. He has done pioneering work in the field of crowdfunding and disaster response spearheading initiatives like Operation Airdrop that led helicopter and airplane aid and relief delivery during super typhoon Haiyan. An advocate for the Common Good and an evangelist of financial inclusion which TraXion is what for.
  • Christopher Asinas
    Christopher Asinas
    Christopher Asinas
    He is currently the Junior Account Executive of Gava Gives, the Philippines’ leading crowdfunding platform for social good. He co-founded Chief Entrepreneurs’ Organization of Mapua University to foster the startup culture in the campus and establish an incubation program for budding Mapuan-led startups in the future. He also served as a Student Ambassador of TechShake and is a thought leader with the goal of inspiring the next generations to create and innovate.
  • Michael Samonte
    Michael Samonte
    Michael Samonte
    Michael Samonte is a Full-Stack Web, Mobile, and Ðapp (Blockchain) developer. He has been a developer for 5 years with experience in web development ranging from multiple international and local websites, websites for Gava Gives, Globe, Unilab, and Century Pacific, and created mobile applications and games for Phoenix Petroleum, B'lue, and Vigan City.

Milestones

  • 1
    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
  • 2
    Launch of Payment Platform
    Completed
    TraXionPay.com supports payment integration for merchants’ use. Kickstarted partnerships with various payment gateways and marketplace networks.
  • 3
    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.
  • 4
    Token Sale
    May 2018
  • 5
    TraXion Wallet Capability
    Q2 2018
    Supports fund transfers using disbursement gateway and peer-to-peer transfers to prepare for full remittance solution. This will hold all 3 functions: payments, remittance and donations.
  • 6
    SMARTER Fundraising
    Q3 2018
    Enhancement of existing fundraising platform to apply smart contracts that will measure performance of nonprofit organizations through its giving score and blockchain analytics.
  • 7
    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.
  • 8
    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.
  • 9
    Peer-to-peer Lending
    Late 2019
    Wallet users will be able to lend to other users using TraXion KYC, Credit Score and Microfinance Solution.

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