Blockchain utility payment startup Treon eyes Africa with its payments solutions

Treon (TXO), a “Utilities Token” that securely and seamlessly enables consumers around the world, including the unbanked, to easily manage and pay for their telecom, energy, and water usage is focusing on Africa and the developing world where its services are highly needed.

According to Khaled Khorshid, Co-Founder | Technology and Hesham El Metainy Co-Founder | Strategy & Commercial for Treon, there is a real need to be solved in Africa where the true value of blockchain technology is most needed. The firm aims to make utilities payments easy and secure even for the world’s 1.7 billion unbanked mobile users.

“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, decentralized, security of transactions the most,” Khorshid said. “In societies where high-speed internet access is already the standard, currencies are stable, and secure transactions are readily made online, blockchain can bring improvements, but it is not truly revolutionary to what is available to users. In emerging economies, blockchain startups like Treon truly can change and improve lives.”

Treon will enable consumers to settle their utility bills through one consolidated dashboard using Treon’s TXO tokens. The opportunity to partner with Javvy and leverage their wallet capabilities along with Treon’s dashboard would be a great value-add for Treon customers.

For the world’s utilities customers, Treon will eradicate the need to make costly trips to utility companies, waste time waiting in long lines, and run the risks associated with unstable local currency. The Treon Token is a definite solution for the unbanked that constitutes a considerable percentage of 76% of the total number of mobile users globally. From now on, they will join the rest of society and have access to the same digital system to pay their utility bills.

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For utilities companies, Treon will make it easier to make payments and share resources, ultimately reducing costs for the companies and for users. Treon has compliance built into its blockchain smart transactional system and its policies are compliant with Sharia Law.

The Treon ICO has garnered attention throughout the crypto and traditional financial worlds. Both private and institutional investors have expressed their growing interest in this much needed secure and easy method of utility management and payment. A complete discussion is available in their Whitepaper here.

“The Unbanked population of global Utilities customers has gone largely unrecognized up till now. They have been left to wait in line at local utilities offices to make payments in hard currency. Conditions are often uncomfortable or unsafe and the process can easily consume 20 hours of a customer’s month, just paying for the basics,” El Metainy 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.”

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