The Digital Economy and The Blockchain

The digital economy is rapidly growing on a global scale. The adoption of the blockchain and its underlying technologies has also seen accelerated growth as well. As both of these movements continue to grow, its fair to inquire about what type of future exists for both of these paradigms. The following will discuss these movements and how TraXion is helping to bridge the two together on a global scale.

The Digital Economy

A study by the Bureau of Economic Analysis found that the digital economy was valued at $1.2 trillion dollars in 2016. And today, this number is projected to be even higher as this paradigm continues to grow. Yet, a significant barrier of entry still exists to enter into this exciting new economy. This is where TraXion comes in. TraXion bridges this gap by providing a unique solution platform that allows for the seamless transition into the digital economy. With TraXion, users can purchase insurance, gain access to financial planning, set up payments as well as other features to allow for people to enter into the new and exciting paradigm that is the global digital economy.

The Blockchain

The blockchain has allowed for a new and complete shift from the traditional way of payment settlement and remittances by significantly reducing costs. These costs can mean huge savings for migrant workers According to an analysis by Bankingtech.com, a 5% reduction in processing fees for cross-border payments will result in $16 billion in annual savings. With TraXion, these payment and remittance benefits are fully realized through the help of TraXionPay and its blockchain-based TraXionWallet. With these benefits in mind, the blockchain stands to change the way the digital economy operates.

As the blockchain and the digital economy continue to gain worldwide traction, TraXion is poised to bridge the gap that exists.

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