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When was the last time you visited the bank? Probably last week or a week before that. But how often do you have to wait to get your job done? When was the last time when went to the bank and walk out within 5 minutes? Probably never (at least for me)? We all know that banking is one of the most important sectors of our society but how long will we compromise our time and resources to get our job done in the bank.

We believe that it&#39;s a high time that we do something about the issue. We need to ease the entire process and make it more customer friendly. Many would discourage the change in the banking system but remember people, also opposed the change when online banking was introduced. But look at now, has online baking not eased our life.

So, the change has become a necessity now and we need some to address the issues.



**Current situation and problem**

Have you filed for the loan from banks? If you have, then probably you would understand how hectic the entire process could. In fact, in developing countries like India people prefer to borrow money from friends or relative rather than going to the bank.

Let&#39;s look at few problems with the current banking system-

- Banks take a long time to process payment which can be troublesome if you need urgent money from your parents or relative living in some city
- High international transaction fees and exchange rates
- There are many intermediaries involved in the traditional banking system. This increases the overall cost but decreases the efficiency of the system
- Lack of transparency which results in people finding it difficult to track their payments.

These are some of the prime issues which limit the use case of benefits offered by the banks. But, thanks to TraXion which aims to resolve these issue soon. So, without further adieu let&#39;s dig deeper and know more about [TraXion](https://traxion.tech/)



**What is TraXion?**

[TraXion](https://traxion.tech/)is a decentralized platform based on blockchain which aims at creating a future society which will be based on four pillars- Data integrity, Accountability, Transparency, and Trust. The platform aims at providing fast and cheap transaction with high transparency and security to renew entire banking experience. The platform is trying to provide traditional banking services using a blockchain environment which will use cryptocurrency as a key element for payments, peer to peer lending, investment, and saving.

By using this platform, you will be able to send, spend, save, lend and borrow money from anyone.

Let&#39;s look at core features of the platform

- TraXion Wallet

It is similar to a saving account in the traditional banking system. Users can also analyze his/her spending using his management console. The wallet will also give an opportunity to business organizations to move their financial assets without any additional cost through tokenization.

- TraXion Chain

It aims at creating inter-business solutions for companies that require data integrity, asset tracking and interoperability in their supply chain.

- TraXion Connect

It aims at improving the integrity of information, efficiency, and performance across the organization.

**Why TraXion?**

TraXion will offer a platform which will provide

- Cheaper transactions
- Faster transfer of funds
- Agentless ecosystem
- Scalable platform
- Smarter and secure solution based on blockchain

One of the unique features of [TraXion](https://traxion.tech/)is Peer to Peer Lending through HyperTraxion wallet. TraXion will use machine learning algorithms to reduce risks by providing credit scores based on past transactions and ability to pay in the platform.

**TraXion ICO**

[TraXion](https://traxion.tech/)will organize the public sale for its token (TXN) from 15th June 2018 to 31st July 2018. However, the company will also organize a presale from 1st May 2018 t0 31st May 2018. There is a total of 500 million tokens. Out of the total available tokens, 8% is reserved for pre-sale, 40 % for main sale (250 million TXN tokens for sale), 20% for the team, 20% will be kept as reserve, 5% for its community, 3% will be for bounty. The company has also set a hard cap of 100,000 ETH tokens.

The tokens will be sold at a rate of 1 TXN token =0.001 ETH. If you want to become a part for future crypto society then get your hands on these tokens.

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**TraXion and its future**

[TraXion](https://traxion.tech/)is a blockchain based platform on Hyperledger technology which has the potential to improve our traditional banking system. It will be wrong to say that this will completely replace the traditional banks but will surely provide a better alternative to those who wish to use it.

TraXion plans to launch 6 different platforms, 4 of which has been launched which includes Payment platform, Wallet, Fundraising platform and Personal Finance platform.

But, the company not only aims at making the profit as it will also provide funds to selected charities in the blockchain.

So, don&#39;t wait for better opportunities rather create them by being part of next generation society, TraXion.

**Website**  -  [https://www.traxion.tech/](https://www.traxion.tech/)

**Whitepaper**  - [https://www.traxion.tech/landing2/documents/Traxion%20Whitepaper.pdf](https://www.traxion.tech/landing2/documents/Traxion%20Whitepaper.pdf)

**ANN**  -  [https://bitcointalk.org/index.php?topic=3043553.0](https://bitcointalk.org/index.php?topic=3043553.0)

**Telegram**  -  [https://t.me/traxionICO](https://t.me/traxionICO)

**Published by**  - dannywhelan

**Profile**  -  [https://bitcointalk.org/index.php?action=profile;u=1606458](https://bitcointalk.org/index.php?action=profile;u=1606458)