Place/Date: - April 16th, 2020 at 11:17 am UTC · 3 min read
Contact: Traxalt, Source: Traxalt
Citizens around the globe are advised to stay at home and only step out for essential items. It is also recommended to refrain from using cash as much as possible because it catches the strains of the virus.
It is no brainer that global finance is currently suffering. Despite various economic boosters and stimulus, the global economy is heading towards depression. In fact, experts are predicting that the U.S unemployment numbers may touch 20 Million.
Citizens around the globe are advised to stay at home and only step out for essential items. It is also recommended to refrain from using cash as much as possible because it catches the strains of the virus. In these tough times, when traditional systems are giving up, researchers around the globe are proposing Blockchain as a solution that may help fight various issues that humanity is currently facing.
Researchers propose the following use case: Blockchain will help in record management; A Blockchain healthcare surveillance system can provide the means to prevent and control future outbreaks; Blockchain could be used for tracking public health data surveillance, particularly for infectious disease outbreaks; Blockchain can also help in donation tracking and Insurance claims; And most importantly Blockchain could facilitate a sound Global Payment Network.
A Blockchain-enabled model to further support banks and institutions in delivering a single frictionless real-time payments proposition is what is required for Finance 3.0.
And this is what Traxalt, a blockchain-based solution is doing. Traxalt aims to transform the Global Payments Network. The Traxalt is built on top of the STELLAR blockchain, that allows enterprises and companies to reduce costs, achieve faster transaction times, and handle transparent information with a system that offers scalability with data growth and less use of third parties.
The platform recently reported that its user base has finally touched the mark of 1,000,000 (Q4 2019 was 820,083, indicating a 22.5% quarterly increase). It is exciting that an ambitious crypto project has been successful in onboarding hundreds of thousands of users in these market situations.
Recently, the company had announced that it secured a deal with a project that ranks under top 20 in coinmarketcap. This deal was said to enable Traxalt to be used by 1050 merchants around the globe as part of their daily business operations. On being asked about any recent developments to the last story, A senior executive from the company said,
‘’We are all ready and set, just waiting for the coronavirus situation to settle. Once this settles down, we will start rolling vendor integration.’’
Traxalt’s underlying token TXT generates a whopping $150,000,000+ in daily volume, and it will be fascinating to see the mainstream adoption of the company’s products.
Currently, the world requires a global payment network that allows movement of money to every corner of the world, facilitates instant settlement, and that is reliable and cost effective. Not only Traxalt, if any project that achieves these value proposition characteristics, then be ready to see it in the top 5 crypto projects in 2020.