Traxia (TMT), the Swiss non-profit organization, has become the first official token to launch the blockchain Cardano platform (ADA). The token was launched on Monday (March 26 2018).
Cardano, which is also known as the “Japanese Ethereum”, claims to be one of the most advanced blockchain in the market.
Cardano’s investment unit, Emurgo, has invested in Traxia. Traxia links small businesses with the retail sector. The publication said that Traxia cited the “superior technology” of Cardano, which “will allow Traxia to present a more robust solution to better tackle scalability, settlement and security.”
Traxia aims to convert unpaid invoices to smart contracts that can be exchanged for short-term assets, providing sellers of economic products with financing to continue business while they wait for invoices to be paid. Reports noted that transactions on the Traxia platform are conducted via fiat currencies not cryptocurrencies.
This ICO is scheduled to run until 9th April and the ICO price of TMT is at $0.12 per token (a 20% stage discount applies). The overall project hard cap sits at just under $41.5 million.
Blockchain technology is increasingly aimed at the trade finance space as innovators and traditional financial institutions explore how to address the $ 1.5 billion trade finance gap, according to the Asian Development Bank’s calculations. A separate analysis of the International Chamber of Commerce (ICC) last year showed a 9 percent decrease in the number of lenders that reported an increase in the trade activities.
In the future article, we will be breaking down whether Traxia is a good project to invest in. Stay tuned for more.
Disclaimer: This article was originally written Bitzamp. Apart from a few modifications, everything else is same.
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