Africa’s Treon to widespread blockchain technology in the developing world
24 August 2018
Treon (TXO), provider of the world's first “Utilities Token” that securely and seamlessly enables consumers around the world, has delivered a keynote presentation at Bloconomic: Blockchain Economic Summit in Kuala Lumpur treon blockchainIn societies where high-speed internet access is already the standard, currencies are stable and secure transactions are readily made online, blockchain can bring improvements.
The keynote was presented by Khaled Khorshid, co-founder of technology and Hesham El Metainy, co-founder of strategy and commercial for Treon. They described the company’s goal of realising the value of blockchain technology where it is most needed - in emerging economies throughout the world and in making utilities payments easy and secure even for the world's 1.7bn 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, decentralised, security of transactions the most,” Khorshid said.
“The unbanked population of global utility customers has gone largely unrecognised up till now. They have been left to wait in line at local utility 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,” El Metainy commented.
Treon aims to enable consumers to settle their utility bills through one consolidated dashboard using Treon's TXO tokens. For the world's utilities customers, Treon focuses on eradicating 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 aims to provide a solution for the unbanked that constitutes a considerable percentage of 76 per cent of the total number of mobile users globally.