Ireland-based company Pluma Technologies Ltd together with its Philippine partner Gava Technologies Inc. are raising $4M worth of Ether through a pre-sale for its TraXion tokens.
TraXion.tech Chief Executive Officer Ann Cuisia said that the company’s token sale would pave the way for TraXion to become the go-to crypto-economy for payments, peer-to-peer lending, remittances, savings, insurance, investments, and philanthropy.
“TraXion.tech offers an open source inter Blockchain ledger platform that aims to transition people business and governments to crypto ready society using IBM’s Hyperledger Fabric. We will focus on developing TraXionWallet, white-labeled e-wallets for business organizations who want to move financial assets at zero cost through tokenization of their local currencies; TraxionChain, business solutions platform for conglomerates requiring interoperability, data integrity, and asset tracking within the supply chain; and TraxionContract, which provides SmartContracts on workflows for good governance.”
The TraXion token pre-sale began last May 1, 2018 and the Initial Coin Offering (ICO) will start on June 1, 2018, respectively. TraXion tokens are currently valued at 0.001 ETH.
Founded in 2017 by Pluma Technologies, Traxion.tech focuses on building infrastructure for everyday users. For TraXion, a blockchain-driven environment changes how people do business by enforcing data integrity, accountability, transparency, and trust. One of its products, TraXionWallet, is currently used as a white-label wallet solution with gavagives.com. The wallet currently enables the efficient transfer of funds collected by non-profit organizations to their chosen bank accounts through a disbursement gateway. This same wallet enables users to see all donations listings, data analytics as well as other reports.
Seamanpreneurs Consumer Cooperative (SEACOOP), a community of seafarers driven by entrepreneurship and investing, founded by Seaman Entrepreneurs Advocacy Center Inc, a non-stock non-profit organization, has partnered with TraXion to onboard up to a million seafarer members on the TraXionWallet. This partnership will ease the cooperative and its members’ mode of membership payments, investments, life and non-life insurances, and remittances. Using TraxionWallet, SEACOOP members will enjoy lower transaction fees and quicker transaction time.
Business Personality and TraXion Advisor Anthony Pangilinan, meanwhile, affirmed the importance of integrating blockchain technology in governments and businesses.
“The distribution of database system or blockchain is happening all over the world. Top brands and companies are already employing it. It is a platform for greater security, safety and speed in doing business today. Now the only question is how enterprises will utilize this technology,” he said.
“Blockchain is here to stay, the sooner we embrace it, the faster we will get in that community and make most out of it,” he added.
Furthermore, Cuisia, explains “blockchain is going to change all areas of business and even personal lives. In the late 90s, people were saying the Internet is going to change the world. Now, everyone is saying blockchain would be doing the same thing – we totally agree with that.”
Consumers and businesses find many challenges working within our current financial system. For instance, transaction and remittance fees are just too high. Also, with much bureaucracy, everything is slow with very limited-to-no-transparency in transactions. These issues will be resolved with the use of blockchain technology.
Traxion.tech aims to be one of the companies to make blockchain ubiquitous with normal consumers unaware that it is running in the background but enjoying its many benefits.
Cuisia, who is the country’s top blockchain advocate, tells, “we do not intend to work as a silo ecosystem. We are very much aware that there will be other crypto-based ecosystems that are not ours. We are ready to connect with them as well. The objective is to connect everyone – not compete.”
She also added that they do not plan to compete with the banks. Traxion.tech plans to use their eWallet as the banks’ ‘Nth’ branch where its products and services are being used on a consumer mobile phone.
ICObench, an ICO rating platform supported by investors and financial experts, gave TraXion a rating of 4.8/5.0.