Traxion is a blockchain project that aims to create a bank type system within the blockchain. This bank will allow users to send, save, spend, lend and borrow cryptocurrency while keeping security and usability in high regard. Within the current banking system; fraud and unfair practices exist everywhere and so Traxion is trying to bring more power back to the customers and not the money hungry executives in today's traditional market.
Traxion has already started working on innovative products which include the payment platform, wallet, personal finance platform and fundraising platform. Cryptocurrency can be hard to understand and its educational barrier to enter is high, and so Traxion aims to create an easy to use and learn platform to get everyone involved and push the adoption of cryptocurrency and blockchain technology.
Traxion Explainer Video
Traxion Website: https://traxion.tech/
Traditional Banking Downfalls
In the current financial world there are a few common problems which exist in speed, cost, bureaucracy, and transparency. Sending money globally or between borders can be a hassle and according to the McKinsey research team, it can take an average of five business days which, in a world so digitally advanced, is extremely unreasonable to take such a long period. A five day waiting period can force small businesses to freeze payrolls or miss out on investment opportunities when there is no real reason they should.
Another big problem in today's financial market is the cost of transactions and making long distance trades. Although the process has been highly automated and requires minimal work involved, average transactions fees are still an outrageous 10%!
The problem with the financial system is underlined with the countless and useless middlemen that are used to facilitate transactions.
This results in the high fees, transaction wait times, and general inefficiencies within the financial markets. These fees can essentially destroy the standard of living for people in poor areas. It allows room for fraud and bribery which ruins the bureaucracy and can make the accuracy of transactions fade. Financially transparency doesn't always exist, and users are left in the dark when it comes to transaction fees, failures, longer rollouts and delivery times.
Traxion will become a solution
Traxion plans on creating a platform on the blockchain for smooth transactions, whether that be incoming or exiting transactions. In the traditional market, transactions need to go through a lot of different phases which can be costly and annoying. With Traxion, all the transactions will have all of the benefits of blockchain technology and will be seamlessly transacted avoid the pitfall of enormous fees along with allowing customers to transact who may not have a bank account. In fact, billions of people today don't have bank accounts which results in a huge market with many competitive advantages and enormous potential.
Since the transaction fees are low, and the process is decentralized which removes the need for interaction with centralized middlemen -
Traxion can offer the fairest global payment system
No matter how much money a user has, or where that user is located, everyone is treated equally. The platform is transparent having built-in smart contracts to ensure that the platform is run securely, efficient, and fair.
Traxion Token Sale
With a private sale that raised over $2.5 Million, Traxion is positioned for a successful token sale.
Currently, an ongoing presale is available until July 15th with a 30% bonus structure found through the Traxion Website
Public token sale will start on August 1st
Token Distribution Model
Additional Investor Information
Website: https://traxion.tech/
WhitePaper: https://traxion.tech/documents/Traxion%20Whitepaper.pdf
BitcoinTalk [ANN]: https://bitcointalk.org/index.php?topic=3043553.0
Medium Blog: https://medium.com/traxion-tech
Telegram Invite: https://t.me/traxionICO
Article written by @justiceforall
BitcoinTalk user: Mr.Ease
BitcoinTalk user link: https://bitcointalk.org/index.php?action=profile;u=803528
Ethereum Address: 0xEa67d5856b48925972a9f3d6D9b923593B8B16a6