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.

Problem Statement

Today, consumers of telecom, electricity, and water are faced with numerous challenges:

  • Frustrating customer experience — especially the unbanked — due to the gaps between what utility companies are promising and the actual service and experience.
  • Fragmented ways to monitor, control, and pay for usage with varying degrees of sophistication, depending on the provider. One thing for sure, you have 3 or 4 different user journeys you go through just to know and pay for the basics of life: energy, telecom, and water.
  • Lack of a consolidated and simple smartphone app to manage all your utility accounts in one place and pay your usage.
  • There are no incentives for on-time payments. Little to no loyalty rewards, which is due in part to the monopolistic history of most utilities, leaving consumers with the perception of being taken for granted.
  • Little to no rewards for using eco-friendly utilities like solar energy and wind-generated electricity. How about getting rewarded with cashback for electricity consumption generated on solar grids? Imagine this becoming mainstream with its positive impact on the environment.
An average bankedconsumer manages 3 or 4 utility accounts; a telecom provider for mobile service, an electricity company to light-up the house, a water utility to pay for clean water, and a natural gas provider for heating and cooking. Each utility company has a different billing cycle with different due dates. Some accept online or mobile payment; others require cash payments at their service location, where the rest might be accepting credit/debit card payments, either on auto-pay or with manual triggers.

Treon Payment Protocol

The Treon Payment Protocol (TPP) is flexibly designed to be a protocol architected for utilities providers and other similar businesses where the customers either receives bills to settle their outstanding balance post (or after) the consumption of the service, or top-up/recharge the balance pre (or before) the consumption. TPP is similar in concept with many payment protocols already created on the blockchain, however, the important difference is that because it’s built for this industry, the lead-time, technical risks and complexities are reduced significantly for utility companies to join the Treon platform and implement TPP. Treon encourages outside input and development to improve the protocol and make it widely used among utility providers which will boost Treon expansion vision. TPP will come in built-in modules, they encourage the involvement of the community in its development, especially industry-focused groups. TPP on-chain architecture constitutes the nucleus of its functionality and it is designed for flexibility and evolution with the needs of utilities, value-added-services providers, and development community.

Source: youtube/Treon Official

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