In a world of digital transformation, we see great changes happen in how we share information and communicate. There are attempts to digitize many aspects of our daily lives, especially in the world of payments, peer-to-peer lending, remittance, and philanthropy.
In the recent past, blockchain technology has gained its popularity because of the hype on cryptocurrencies. Such hype has swayed a lot of startups to launch their own cryptocurrencies even without compelling fundamentals. This trend has emerged because new participants have been nimbler in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitive advantage that new players enjoy is likely to be a short-lived one as no economy of scale is put into thought.
Frictionless with the Banks
Borderless for the People
TraXion aims to be a better bank in a blockchain — driven environment, enabling its community to load, send, save, spend, lend, borrow, and more using a secure, simplified yet compliant application. It is an environment where for-profit meets non-profit sectors and develops a synergy towards corruption-free social impact activities.
TraXion plans to offer traditional financial products in a blockchain-driven environment, eventually becoming the crypto-economy for payments, peer-to-peer lending, remittances, savings, insurance, investments and philanthropy.
TraXion has launched several products and services to prepare itself for this exciting event of involving the crowd in its mission.
TraXion will be utilizing the best KYC/AML process on the market that is yet to be determined. This will allow for real time identity and business verification to occur and for businesses to verify information very quickly via API or TraXion’s own free dashboard. This will allow for easy verification for identifiers such as name, date of birth, and addresses for customers of businesses using the TraXion platform.
Blockchain aims to put data integrity among systems that don’t trust each other. This is the main reason why many start-ups are moving to decentralization, transparency and financial inclusion. There is a great potential of institutionalizing these technological developments in finance given the right approach and the proper creation of economies of scale within and among these systems.
As geared towards being the complete bank in a distributed network, TraXion aims to develop features that would be beneficial for all financial needs and services the users of the platform will be looking for. To make this happen, 35% of the total fund allocation (detailed in the latter portion of this whitepaper) will beconsumed for platform development, which involves further improvements of the token utility.
- Formation of Blockchain Dev Hub (early 2017)
- Launch of Payment Platform (mid 2017)
- Launch of Fundraising Platform (mid 2017)
- Initial Coin Offering (May 2018)
TraXion’s Initial Coin Offering will launch 250,000,000 TraXion Tokens (TXN) available for sale. The token sale is divided into three parts: Private or Seed, Pre-Sale, and Crowd Sale, all of which have various bonus 30 tiers prices, and target amount to raise in US Dollars. The funds that wilF1l be raised in the entire token sale will be allocated to different key areas for the development of the platform, and to grow the business to grant the value TraXion promises for its users and clients. (see Initial Coin Offering section below to learn more)
- TraXion Wallet Capability (Q2 2018)
At this stage, TraXion Wallet expands its utility beyond payments to support fund transfers using disburs ement gateway and peer-to-peer transfers to prepare for full remittance solution. This will enable the users to remit to anyone in the world at zero cost and donate to any non-profit organization through Gavagives.com with full transparency of aid from sender to beneficiary or end recipient of donations.
- SMARTER Fundraising (Q3 2018)
The existing platform in TraXion system will be enhanced to apply smart contracts that will measure the performance of non-profit organizations automatedly through giving score and blockchain analytics. By means of these scores, users on the blockchain will be informed of the best-performing organizations, which will build trust among the donors.
- Crypto Trading on Wallet (end of 2018)
Aside from payment, remittance, and donation capabilities, TraXion wallet will launch a crypto trading facility supporting major cryptocurrencies which include ERC20, Ripple, NEM, and many more. At this stage, TraXion has completed all the licenses to make this feature possible in the system
- Whitelabel Remittance Portal (early 2019)
Hyperledger establishes TraXion as a system where all financial products, transactions, and services are available in the platform’s wallet. With the wallet’s absolute capacity, a whitelabel, enterprise-grade,remittance solution will be offered to existing agencies and brokers to equip both consumers and businesses in the given space. Transactions will be faster, cheaper, and more secured
- Peer-to-Peer Lending (late 2019)
Wallet users will be able to lend to other users using TraXion KYC, Credit Score, and Microfinance Solution. When such a feature is allowed, even the unbanked will have the facility to gain resources to build enterprises, avail insurances, gain assets, and so much more
BENEFITS OF USE
Combines existing fintech and insurtech apps in one ecosystem. We provide white-labeled wallets to business organizations who want to move financial assets at zero cost through tokenization of their local currencies.
Creates inter-business blockchain solutions for closed network. We deliver customized business solutions to conglomerates requiring interoperability, data integrity, and asset tracking within the supply chain.
Applies Smart Contracts on workflows for good governance. We can significantly increase the integrity of information, improve performance management, and reduce wastage and corruption.
SEVERAL REASONS TO CHOOSE TRAXION
- The TraXion team have an average combined experience of 20+ years in various industries from business development and entrepreneurship, to cyber security, financial technology, and blockchain.
- Traditional financial products and donation channels are innovated and made available through TraXion’s distributed financial infrastructure for aid candor, elimination of corruption, and financial inclusion.
- TraXion will be among the first distributed platforms on IBM’s Hyperledger Fabric technology, and has established working ties with several financial technology services for an all-in-one financial solution.
- Individuals, conglomerates, merchants, and non-profit organizations — all in a single infrastructure that enables a crypto economy free of obstruction, fraud, bureaucracy.
In order to fund the development of the TraXion ecosystem, 500,000,000 tokens (onwards called TraXion Tokens, or TraXion) will be created on the Hyperledger blockchain and they will be sold to the public. TraXion is a token that will allow the User to access the service provided by the TraxionChain platform.
The TraXion token does not have the legal qualification of a security since it does not give any rights to dividends or interests. The sale of TraXion tokens is final and non-refundable. TraXion tokens are not shares and do not give any right to participate in the general meeting of Company. TraXion tokens cannot have a performance or a particular value outside the TraxionChain Platform. Anyone p urchasing TraXion tokens expressly acknowledges and represents that she/he has carefully reviewed this white paper and fully understands the risks, costs and benefits associated with the purchase of TraXion.