According to information from open sources, the daily budget of 1 billion people is less than two dollars a day. About two billion people do not have access to the banking system. It is unprofitable for banks to enter some jurisdictions – the costs will be higher than the profits. With the advent of blockchain, the situation has changed radically. Now it is not necessary to create physical branches of the Bank in order to provide services to the population.

Traxion is a complete solution, electronic Bank without borders and global payment system. It is a platform that unites payment providers with a built-in customer verification system to counter fraud.

Traxion's mission is to provide equal opportunities for access to financial services for all people, regardless of social status or country of residence.

Problems and solutions

The developers have identified the main problems that need to be overcome. They strive:

• Fight poverty through the dissemination of financial instruments. The content of the online Bank is much cheaper, which reduces the cost of services for customers.

• To decentralize credits via Google wallet HyperTraxion. It will be possible to find a borrower or lender. A system of smart verification will be organized, the purpose of which is to monitor the behavior of market participants and assign them a trust rating. Thanks to this, lenders will be able to assess the risks, and borrowers will be able to choose the appropriate conditions. With the help of open API you can join the system and receive payments and transfers.

• Speed up payments. International transaction can take from 3 to 5 business days. There are many intermediaries and a high level of bureaucracy in the market, which slows down the process. Because of the opacity of the algorithm calculating commissions, transfer fees sometimes up to 10% of the amount transferred. In this case, the transaction is difficult to track, especially if you have entered the wrong details.

• To make the activities of state and non-state charitable foundations more transparent with the help of blockchain and smart contracts. It can be difficult for foundations and philanthropists to track where the money directed to charity falls into their hands.

Principle of operation

The basis for Traxion will be Hyperledger Fabric Blockchain. This development is supported by companies such as IBM, Cisco, SAP, Intel and Oracle. It is already being used in the banking and financial sectors.

In fact, it is a blockchain with built-in authorization and the ability to regulate access rights (for example, only reading blockchain data, reading and moving assets). Since POW and POS are quite expensive consensus algorithms, the developers plan to use the task of Byzantine generals, which will increase the speed of transactions. The system is convenient for consortia, as it will be possible to create private blockchains with the ability to exchange data with other chains, if necessary.

Thanks to the partnership with MasterCard, the platform plans to combine cryptocurrency assets of users with debit cards. It simplifies P2P payments and will give customers access to 130 thousand ATMs in 196 countries of the world. IBM, another key partner, will ensure service scalability.

Details of the ICO and the distribution of coins

The issue of the token will be 500 million. 50% of the coins will be sold within the ICO. At the stage of private sale, which has already passed, the token bonus was 50%, it was planned to realize 10 million coins (TXN).

Presale was held in may and consisted of four levels, each of which had to sell 10 million tokens. The bonus, depending on the level, ranged from 40% to 10%.

Within the crowdsale, which will last six weeks, starting from the first of June, it is planned to sell 200 million tokens without a bonus. One token costs 0.001 ETH, claimed by hardcap - $50 million.

Tokens will be distributed as follows: 20% will be given to the team, 20% will be put in reserve for the upcoming costs, 5% is allocated to stimulate developers, partners and strategists, 3% - for the bounty program, 2% - for corporate social responsibility.

Distribution of funds: 35% will be spent on the development of the platform, 30% will be given to business development, 20% will spend legal costs, 15% will be operating costs.

Conclusion

The goal of Traxion is to command respect. Compared to other startups in this direction, this platform is comprehensive, it expands access to financial services for all without exception. Cooperation with renowned partners, an experienced team of developers, a great idea – these are the main advantages of Traxion.

Philippines-the starting point of the creators of Traxion. The expansion of the service will primarily affect those jurisdictions where banking services are not available to people. At the moment, the modules of the payment platform, the wallet, the platform for managing personal finances, the platform for raising funds are ready. Plan combining services using the blockchain TraxChain one ecosystem. Investors are likely to support the project, and then we will witness a revolution in the financial sector.

All additional information about the Traxion project can be found in the official sources:

WEBSITE: https://traxion.tech
TELEGRAM: https://t.me/TraxionICO
WHITEPAPER: https://traxion.tech/documents/Traxion%20Whitepaper.pdf
ANN THREAD: https://bitcointalk.org/index.php?topic=3043553.0
FACEBOOK: https://www.facebook.com/traxiontech/
TWITTER: https://twitter.com/Traxiontoken
MEDIUM: https://medium.com/traxion-tech
YOUTUBE: https://www.youtube.com/channel/UC7dCqbfGAc_-2VZ1ZvNv2IA
LINKEDIN: https://www.linkedin.com/company/traxiontoken/
GITHUB: https://github.com/Traxioncoin

MY BITCOINTALK USERNAME: klimenok1991
MY BITCOINTALK PROFILE: https://bitcointalk.org/index.php?action=profile;u=1238493