Treon to Bring Equality throughout utility payments to the World’s 1.7 Billion Unbanked
Treon has presented plans during a keynote speech at the Bloconomics Blockchain Economic Summit in Kuala Lumpur to broaden the availability of utility payments. Treon is to become the first provider of a ‘Utilities Token’ for consumers around the world to make payments for their energy, water and telecoms. The team believes they will be realising the ‘true value’ of blockchain technology.
Treon’s primary objective is to reach the emerging economies around the world to make utilities payments easy and secure. There are 1.7 billion unbanked mobile users that will be able to use the application on their phone potentially entering a huge market. Those users have access to other applications and so can buy bitcoin through their phone.
Many investors and blockchain projects are searching for a ground-breaking concept with the potential to revolutionise many industries. Treon is one such company that is bringing the security of decentralised transactions to mobile users. Many have access to the internet in emerging countries but not the banking system itself.
TXO are an Ethereum-based smart contract ERC-20 utility token. Users can buy Ethereum or buy Bitcoin to then purchase their TXO. The app also has a built-in cash wallet that can be used to purchase TXO as well as crediting accounts with bank deposits, credit card or PayPal. The tokens will become tradable on global crypto exchanges after the crowd sale. This will allow user to sell their tokens to buy crypto or bitcoin.
Treon will prevent the need for unbanked citizens traveling to local utilities offices to pay for bills in a fiat currency. Users will be able to use the Treon Tokens (TXO) to pay for their utilities from home. This initiative is speculated to have the biggest impact throughout parts of Africa and Asia.
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