Traxion is like your one-stop-service that provides it all. So far, it has come with its own Wallet, Contract, and Chain – each is designed to promote better flow of the transaction. With the right technologies, the team believes that the future of technology can bring more good deeds instead of bringing harm. In short, a positive outcome is possible if the technology is maximized to its greatest and highest potential.
Peer-to-Peer Concept
This platform is basically about promoting peer-to-peer relationship although it looks like the better structure of a banking system. As you are well aware of, the banks provide lending program as well as money sending (and receiving) service, but in this platform, the function is elevated and enhanced – again with the focus of the peer-to-peer system.
For instance, there are two members of Traxion that want to seal the deal in a lending program. Member A needs fresh finance to start off business and member B is willing to provide the funds. This peer-to-peer lending transaction can be secured by a smart contract, containing details of each party’s obligation and rights. And it is implemented with the blockchain technology with its open and transparent system. And then, everything is done with cryptocurrency to promote fast and efficient transfer.
With these technologies, the transaction can run smoothly, fast, and honestly. No need to worry about trust issue anymore because everything is laid out in the smart contract and every activity is recorded and kept, preventing scams or frauds. Of course, lending service isn’t the only service provided in Traxion. There are many activities and services available, including donation, payment, personal finance, and lending-borrowing. As it was mentioned before, it is like your one-stop-service with advanced digital implementation and sophisticated technologies.
The Crypto Economy
With the growing popularity of cryptocurrency, Traxion wants to create a crypto ecosystem where everything is run and managed by the digital money. Not only it promotes a decentralized system, it also eliminates middlemen. A decentralized system is the one without any ultimate ruler who controls, monitors, and arranges everything. This is great for independence and flexibility, and each user is free on their own.
The platform is about connecting the advanced technologies, the existing banking system, and the modern world. It uses its own TXN token as the main currency as well as the fuel to the platform. The token is meant to share and develop social impact. Instead of depending on the traditional banking system (and they are the ones getting the profit), why not turning the funds into grants and savings that are fairly distributed throughout the platform? By using the services available on this platform, it encourages token usage, which will increase the value and help make it stable.
The total tokens produced will be 500 million, and 50% of them will be distributed for token sale. 1 TXN is equal to 0.001 ETH. Crowd sale starts from 15th of June to 30th of September 2018. Interested investors who want to grow Traxion should take part in the token sale.