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Treon – a platform on the Ethereum blockchain

Treon (TXO) is an Ethereum blockchain-based utility token and e-wallet for paying utility bills using a robust technology in a completely decentralised and secure fashion. The utilities sector has had intermittent customer-centric innovations over the years. Disruptive blockchain technology utilised by the TXO e-wallet offers vast opportunities for utility providers to drive cost-efficiency and increase profitability while giving consumers greater control over their usage and wider financial inclusion and convenience. With Treon, they will make your utility bill payments a convenient one-click experience – anytime, anywhere. Treon (TXO) is focused on providing an exciting value-added service that will simplify the utility management and payment process like never before: consumers will effect their payments instantly using a simple consolidated dashboard. Moreover, Treon (TXO) is on its way to bring a large number of new users into the crypto space by connecting billions of utility customers to the blockchain. Their vision is to reach a point in the near future where utility consumers around the world use the Treon token (TXO) as their currency of choice and preferred payment tool. They are set to convince utility companies to accept Treon tokens (TXO) from customers because it is faster, more secure, and less costly to operate and use.

Treon Vision

Treon aims to become the new “Utilities Money” to transact on and off utility networks. They envision a world where banked and unbanked consumers are equally enjoying the convenience and security of knowing and paying for what they used from minutes of voice calls, gigabytes of data, kilowatts of electricity, thermal units of natural gas, or gallons of potable water. All from one online and consolidated dashboard running on their smartphones and paying for such usage using the currency of their choice — crypto or fiat — by few simple clicks. Treon team designed a robust and unique digital platform, smartphone app and a wallet to enable customers to manage their services from one place with utility providers and pay for their usage through a consolidated application, which is connected to each provider through open and secure interfaces. In  addition, to grow this new ecosystem, Treon will reward customers every time they use Treon tokens (TXO) to top-up their utility accounts or settle their utility bills.

Market Potential

According to the latest figures from the GSMA, over 5.0 billion people from around the globe are mobile users. It has become the single most important “life-line” to connect, conduct business, entertain, buy and sell, and pay their way through their daily life. Treon will use the mobile phone as the bridge for customers to harness the power of blockchain technology and cryptocurrency. According to the World Bank and GSMA, 3.8 billion of the mobile users are unbanked. Treon token aims to bridge the digital divide for the unbanked, giving them opportunities to participate in the fast-growing online economy. This fast-growing digital economy is an unexplored potential across the different utility sectors. Their yearly market sizes are in the Trillions of dollars whether in telecom, electricity, natural gas, green energy or water and Treon is set to capture its fair share of this market. The following will illustrate the market opportunities and how Treon is poised to capture scalable and sustainable growth in the next 5 years.

Treon Digital Platform & API

The initial version of the Treon app architecture which they are currently working on is relatively centralised and relies on the Treon Server. To start using Treon and accepting TXOs as a means of payment, the utility company would need to register through the TPP Server to receive an API key. In turn, the TPP Server would communicate with the utility’s SDK where the rules for the transaction would be set. These rules would then translate into a “BillContract” targeting the client’s wallet. To be able to access the details of the “BillContract” available in the wallet, the customer would need to scan a QR code generated by the utility company for his/her account and associated to their profile. If the information contained in the “BillContract” is compliant with the parameters set in the customer’s wallet, he or she then digi- tally signs it off and the data is automatically sent to the TPP Server to execute the payment. The TPP Server would authenticate the transaction, which would then be published on the Blockchain. Ultimately, the “BillPayment” transaction would take the form of a Smart Contract on the Blockchain network. The next iterations, Treon is aiming to evolve into a truly decentralised payment system designed per the utility company requirement.

Source: youtube/Treon Official

For more information, visit the WEBSITE or read the Whitepaper.

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