Treon (TXO), provider of the world’s first-ever “Utilities Token”, introduces a new way to securely and seamlessly connect consumers around the world at Bloconomic: Blockchain Economic Summit in Kuala Lumpur.
Co-founders Khaled Khorshid and Hesham El Metainy presented the keynote. The company’s goal, they described, is realising the value of blockchain technology where it is most needed.
The need of emerging economies throughout the world in making utilities payments easy and secure even for the world’s 1.7 billion unbanked mobile users are what drive the company toward its mission.
Khorshid said in their press release:
“Investors and blockchain experts are looking for evidence of where blockchain will change the world, but they often skip over the people that need this groundbreaking, decentralised, security of transactions the most.”
The African-based startup claims the unbanked population of global utilities customers has gone largely unrecognized up until now – left to wait in line at local utility offices to pay using hard currency.
El Matainy added that the process of paying for the basics alone can easily eat up 20 hours of a customer’s month. Also conditions are often uncomfortable or unsafe.
But, they have the answer to the problem, he said:
“Treon has a solution, letting these and all utilities customers make payments with Treon Tokens, securely from their own home in a matter of minutes. What seems commonplace in some countries will be a life-changing shift in paradigm throughout parts of Africa and Asia and throughout the world.”
The startup aims to enable consumers to pay their utility bills through one consolidated dashboard using Treon’s TXO tokens. There are two ways to buy TXO: You can either use BTC/ETH or your credit card. Then all you have to do is scan a QR code on their website and the transaction process will begin.
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