The blockchain technology has gained a lot of popularity because of the hype on cryptocurrencies. Such hype has swayed many start-ups to launch their own cryptocurrency even without understanding the rudiments. This has continued because new participants have been nimbler in adopting emerging technologies compared to the incumbent who are hampered by legacy systems. However, this competitive advantage that new players enjoy is likely to be short-lived as no economy of scale is put into thoughts.
This said, the Traxion aim to build an ecosystem where business will be very friendly for common good. They envision to build a world where businesses will be very friendly, a world where for profit business meets non-profit organizations into one whole crypto economy mutually benefiting borderless and frictionless financial transactions.

THE GOAL AND VISION OF TRAXION

The vision of the traxion includes the following:
• Creates a platform that can send and receive payment seamlessly
• Moving towards ending poverty
• Transparency of Aid.
The traxion will make sending and payments seamless with the use of the traxionpay feature of the platform which will use simplified merchant onboarding, with this small business owners can receive payments even when customers don’t have bank accounts. The mobile payment through QR codes will be utilized to access users' hyper traxion wallet and transact efficiently and quickly. The traxion will also provide a white label platform that integrates multiple payment options on a blockchain with a built-in KYC (know your customer) for onboarding of merchant and be used by any chain of merchant and it’s subsidiaries.

The traxion aim to end poverty by providing an affordable, fast and transparent means of transacting so as to benefit the poor. The technology has been developed significantly beyond the payment advantage. The smart contracts introduction has gone a long way to make traxion platforms more comprehensive and versatile to deliver financial services and aid monitoring.

The traxion will put trust back to the community so as to be able to give more and help more people around the world.

THE PROBLEM THE TRAXION AIM TO SOLVE

One of the major problem that cause poverty is the lack of financial inclusion. This refers to the access of people to formal financial system that is the access to financial services like the banks that account for financial inclusion. About 2 billion adults still remain unbanked, this figure is very alarming and frustrating, to solve these problems the traxion aim to use the blockchain that is instead of erecting physical structures in the name of creating banks, the blockchain can be used to overcome the many of the banking current limitations since access to the banks is not readily available. The blockchain unlike the banks need no physical branch presence. The blockchain only works in a distributed network so there is no need for a complex and expensive private infrastructure to run. This helps to save the extraordinary costs that Banks and Telecom companies pass on to users through fee and other charges when using bank account or performing mobile transactions. With the blockchain you can be in the corner of your room and transacts.

The Traxion will also solve the problem related to speed because before now transactions across borders takes an average of three to five business days before it becomes successful. Other problem the traxion aim to solve includes the problem related to: costs, transparency, e.t.c

HOW THE CURRENT BLOCKCHAIN MARKET WORKS

Now, there are lots of advancement and industries have started realizing the importance of blockchain in the changing times and requirements of business and communities. The picture below shows how vast the involvement of several industries and dynamics that go with it.

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THE PLATFORM FEATURES

In order to save the international payments in developing countries form the state of been too costly, laborious and error-prone and to make transaction in different currencies take less time to complete instead of the previous days or weeks to complete. The Traxion payment system intends to simplify the way funds are exchanged around the world and to reduce settlement time from days to seconds. With the use of this platform, there will be no more intermediaries and counterparties and therefore it will make transaction more faster and cheaper

USED CASES

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ICO

Traxion will engage in initial coin offering (ICO) so as to allow them the opportunity to onboard participants from different region and also to incentivize participants to promotes the traxion’s product via affiliate and commission. During the ICO, the company will issue virtual currency token called the Traxion Token (Txn) on the blockchain operated by a smart contract.