Ico Start Date: 16-Jun-18
Ico End Date: 16-Aug-18
Using the latest IBM Hyperledger Fabric technology, we provide seamless integration and connectivity among networks, businesses and 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. There are start-ups trying to focus on a niche and would not take advantage of economies of scale, which is one of the main advantages enjoyed by traditional financial institutions that may not be as technologically advanced. 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.Banking
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. There are start-ups trying to focus on a niche and would not take advantage of economies of scale, which is one of the main advantages enjoyed by traditional financial institutions that may not be as technologically advanced. 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 plans to have significant infrastructure in place prior to the initial coin offering (ICO). To date, Traxion has built four (4) of the six elements in the proposed economies of scale: Payment Platform, Wallet, Personal Finance Platform and Fundraising Platform. These four platforms will soon be on TraxChain – connecting people to effectively transact payments, lower the cost of peer-to-peer lending and remittance, transparently account for philanthropic activities of non-profit organizations and enable insurance and investments processed more efficiently using smart contracts. Traxion is building a crypto-economy to last, therefore, the focus will be on the scale, elimination of middlemen, and decentralizing legacy systems. To achieve these goals, Traxion will offer white-label platforms across the globe and connect them in a distributed, permissioned and secured blockchain. It will be used by banks, operators and agencies in key jurisdictions to process in different fiat currencies and facilitate cross- border transactions without the need for counterparties while also enabling all players donate to causes this blockchain trusts. Traxion aims to fill the gap between the existing financial system and emerging non-user-friendly technologies by presenting a secure and simple way to use payments and banking architecture that aims to lower financial inclusion barriers and provide financial services to the banked and unbanked. Through the planned integration with Master Card Service Provider, we will build the wallet that enables our user to store or transfer money to any card in the world. The sender and the receiver transact in the local currency and needs no awareness of cryptocurrencies or blockchain technology behind. To achieve these objectives, an initial coin offering (ICO) will be conducted. The offering will be a virtual currency tokens known as a Traxion Token or TXN. Funds raised will be given as grant to a foundation situated in Southeast Asia (GavaGives Foundation Inc.) to facilitate the development of Traxion’s projects.
Initial Coin Offering.
Traxion Wallet Capability. Supports fund transfers using disbursement gateway and peer-to-peer transfers to prepare for full remittance solution. This will hold all 3 functions: payments, remittance and donations.
SMARTER Fundraising. Enhancement of existing fundraising platform to apply smart contracts that will measure performance of nonprofit organizations through its giving score and blockchain analytics.
Crypto Trading on Wallet. Aside from payment, remittance and donation capabilities, Traxion wallet will launch cryptotrading facility supporting major cryptocurrencies like ER20, Ripple, NEM, etc.
Whitelabel Remittance Portal. To scale the business, a whitelabel solution for remittance business will be offered to existing agencies and brokers. Using Hyperledger technology, transactions will be faster, cheaper and more secured.
Peer-to-peer Lending. Wallet users will be able to lend to other users using TraXion KYC, Credit Score and Microfinance Solution.
Strong team! Good vision and product. Good luck, guys!
Each year businesses send about $150 to $300 trillion for payment across national borders. Fees for those transactions average around 10%, and the money transfer takes about two to five business days. Similarly discouraging, financial institutions currently spend about $500 million just to keep up with KYC and AML regulations. For the past couple of years, there has been an extraordinary amount of hype around the potential of the blockchain or distributed ledger technology (DLT) to transform the banking industry. The reason for this hype is DLT has given us the opportunity to profoundly transform the financial industry. The Traxion project aims to be a better bank enabling its community to load, send, save, spend, lend, borrow and even more using a secure, simplified yet compliant application. It is an environment where profit targeted sectors meet non-profit sectors. Traxion plans to offer traditional financial products in a blockchain-driven environment, eventually becoming crypto-economy for payments, peer-to-peer lending, remittances, savings, insurance, investments, and philanthropy. The Traxion platform uses the latest IBM Hyperledger Fabric technology to create a permission-based distributed ledger. This new technology allows for easy, frictionless yet enterprise-grade solutions for industries that need to comply with data protection regulations. To date, Traxion has built four of the six elements in the proposed ecosystem: Payment Platform, Wallet, Personal Finance Platform and Fundraising Platform. These four platforms will soon be on TraxChain – connecting people to effectively conduct payments, lower the cost of peer-to-peer lending and remittance, transparently account for philanthropic activities of non-profit organizations and enable insurance and investments processed more efficiently using smart contracts. Moreover, an integration with Master Card Service Provider is planned, that will enable a user to store or transfer money to any card in the world. The sender and the receiver will transact in the local currency and there will no need for any awareness of cryptocurrencies or blockchain technology behind. The whole project goal is to bridge the gap between the new difficult to use cryptocurrency technologies and traditional finance systems. Traxion is well on their way to providing a complete new banking solution for everyone. The Traxion ecosystem is also a party to the Seamanpreneurs Consumers Cooperative, an organization that promotes financial literacy and business activities among its Filipino seafarers community that totals up to one million. Traxion will provide the SeaPay Wallet which is exclusively developed for the benefit of the cooperative. It gives its users simplified yet secured access to financial services. Further to this, Traxion project entered into partnership with the Union Bank of the Philippines and the digital platform provider GlobalLinker to help local micro, small and medium enterprises make online transactions. The Traxion project onboarded flexible healthcare (BayaniHealth) and life insurance (Azurrance) service providers as partners to further aid this mission. The Traxion Token (TXN) will be issued on the blockchain operated by a smart contract. The TXN ICO Pre-Sale is set to open on May 1, 2018, with 250M tokens being offered for crowdsale that will start on June 15, 2018. From this amount, 10M tokens are allocated for private sale with maximum 50% discount and 40M tokens will be available on pre-sale. TXN is a token that will allow users to access the service provided by the TraxionChain platform. The TXN token does not have the legal qualification of a security since it does not give any rights to dividends or interests. Funds raised will be given as a grant to GavaGives Foundation Inc., a foundation situated in Southeast Asia to facilitate the development of Traxion’s ecosystem. After the ICO, the Traxion project is going to move to various countries within Southeast Asia and replicate the partnerships made in the Philippines. Emerging countries with high percentage of unbanked population will be prioritized, then the rest of the world. This is really a challenging project. The idea to pull together traditional financial products, blockchain technology and cryptocurrency is understandable. There is a clearly defined and understood business idea - to develop a platform where profit businesses meet non-profit organizations into one whole crypto economy mutually benefitting borderless and frictionless financial transactions. The WP does a good job of transmitting the main concept across and there is a lot of background information to provide a backdrop to the reasoning behind this project. It is properly structured with a well-divided index and a classic format. It is not exaggeratedly long neither is it oversimplified. However I found some discrepancies in it, e.g. in the token sale table there is a target ICO amount of 94M USD, whereas on the following page the WP says that the Hard Cap is 60M USD. The website has a simple structure and a menu of options that allows everyone to keep investigating about this ICO. Unfortunately, it is offered just in English. The website contains a lot of facts and information, much like the WP. These illustrate the case at hand and why a solution is needed. There is a roadmap in the website and WP, explained in a clear way and it has detailed information. The website lists a professional core team and advisors of 23 persons with security, blockchain, legal, finance, marketing and commercial expertise. A brief bio is displayed with every photograph but not all persons have a link to LinkedIn profiles. This is really important for knowing who is behind the ICO. Nowadays any blockchain project can succeed only when it is supported by a sufficient number of people. The number of participants in the Telegram chat - 42 members, Twitter - 419 followers, Facebook - 519 followers. This ICO does have a presence on Reddit and GitHub. These figures are inadequate, therefore the team should spend time thinking about Social Media and how to expand the company’s reach through as many outlets as possible. I think Traxion is an amazing project that really stands out among ICOs. As long as the market sentiment is strong, Traxion platform should do well out of the gate.
Great team - more women-led projects are needed in this space. Use of Hyperledger is novel and nice. They will likely see more support from incumbents in the financial world with use of Hyperledger. Good whitepaper.
Very good project with a strong team in place
A strong dedicated team, interesting project
First class team! Very impressive vision
I really enjoyed the presentation (video), the implementation of Hyperledger technology and the way in which the TraXion team helps educate the user, not only on their project but the underlying technology they're using. It seems as though this team, if executed properly will effectively tackle the industrial market and be a first mover in implementing industrial grade blockchain technology. "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." The TraXion team realizes the goal they are tackling is ambitious however they understand the wide range of potential verticals this technology can disrupt. Very excited to see where they go with this.
Great to see the hyperledger finally being used to bring value to the blockchain!
Great to see woman at the helm! Such product really need blockchain with permissioned ability
Team - strong, experienced and with relevant expertise. Vision - interesting idea that is among the few projects that utilise IBM Hyperledger. Product - already launched several elements of the ecosystem, including: Fundraising Platform, Payment Platform, Wallet; while others are being developed. All above being said, I recommend passing KYC to assure investors, and add more tech-oriented people to the team.
It's impressive to see hyperledger being used in crypto space in terms of value becoz till now developers tried to stay away from crypto but only talk about Blockhain.
Strong team with good advisors, just don’t forget to pass KYC. I like the vision for combining technological advantages of Blockchain with world-scale traditional financial services. That can lead the project far beyond the competitors. I will keep an eye on that one.
Team: The team is strong and competent enough (looking at LinkedIN profiles and their experience) to create the product; however, lacks well-known industry experts Vision and Product: Very interesting idea which will create "flexibility" in handling the complex processes. So far the communities are not very active e.g. only 700 people on Telegram channel. Need to create more buzz and hype among potential investors.
Strong Team: ★★★★★ Vision: ★★★★★ Product: ★★★★★ Traxion is a financial institution in the interchange where for-profit meets non-profit, where banking as we know it meets blockchain. Designed, on Hyperledger Fabric is creating a chain of banking services and promising because of the design a synergy towards corruption-free social impact activities. Based on the concept of a White Label Bank that can be deployed and adapt not only to existing "systems" and societies but for the rest of the world as well! Conclusion: Solid Five ★★★★★ Project
TraXion: The vision of TraXion is different to other start ups; they are focused on building a complete ecosystem where businesses will be very friendly for the common good. Imagine a world where for profit businesses meet non-profit organizations, forming into one complete crypto economy mutually benefitting borderless and frictionless financial transactions. Their impressive Whitepaper states the above as they focus on building infrastructure for everyday users. A blockchain- driven environment that changes how people do business by enforcing data integrity, accountability, transparency, and trust. Their combination of Blockchain and world-scale traditional financial services is a desired solution to the banking system. An interesting project. Hyperledger Fabric: An open-source blockchain endorsed by a consortium of large tech enterprises such as IBM, Cisco, SAP, Intel and Oracle. This will already gain them traction moving forward. Team: Reviewing the team profiles via LinkedIn shows they are more than competent for this project. Advisors: Strong advisory board to compliment the team Social Media following: The community is growing rapidly as more and more people find out about what they are looking to achieve. Impressive Team, Impressive Vision Impressive growing product
Really interesting using of blockchain, with a strong team
Interesting project. Let's see what will come out of it.
Team: ++ Special shout-out for Ann who has been trying to get rid of corruption from Non-profit/ social activities thru Blockchain and AI + - Good team however CTO is a contractor, which is huge negative for me. You have to have in-house technical team in order to succeed in such high-tech field - - Except Nathan no adviser mention TraXion on their LinkedIn Vision: ++ Combination of Blockchain and IBM`s Hyperledger (Already very successful) is going to have huge impact on the Banking/ Charity/ Non-profit sector. Product: ++ Already launched 4 out of 6 elements of the ecosystem: Personal Finance, Fundraising, Payment, Wallet Misc: -- $100M is too big an amount for an ICO.
Some team member missing profile. But really a strong and mature team. Good luck!
Great team and vision, not convinced about solving the problems listed in the WP with a corporate project like this one.
Great team ... very interesting ideas .... best of luck team ...