According to an OECD report, small and medium enterprises (SMEs) contribute 70% of the total employment and 95% of the total establishments in OECD economies. World Bank likewise confirms the relevance of SMEs in the world economy, most especially in developing countries. Formal SMEs account for 60% of the total jobs and 40% of the emerging countries’ GDP. These numbers do not even include the existence of informal SMEs, which take up almost 70% of the entire SME count. Predictably, the positive impacts of SMEs on the host economy will increase even more in the next 15 years. Yet, this business sector, according to OECD, continues to experience challenges. Apart from access to financing and regulatory troubles, SMEs also encounter difficulties in technology exploitation. For this reason, Treon, the new-age utility token, will prove to be highly valuable. It not only makes payments easier and more secure for SMEs but also allows the firms to better manage and monitor their utility consumption rates.
What is Treon?
Treon is a utility token which can be used for the payment of utilities, e.g., telecommunication, water, gas, and electricity anywhere in the world and regardless of the location of their providers. Treon tokens (TXO) operate on the Treon dashboard app and wallet, which also supports other currencies, crypto or fiat, thus giving the users the option to choose. Insofar, USD, ETH, BTC, and TXO are acceptable in the Treon app.
Treon runs on a decentralized ERC20 platform under Ethereum, a blockchain umbrella infrastructure that limits fraud and third-party interference. Such platform allows the creation of smart contracts, which are transformed into codes, stored in the system for reproduction, and monitored by a network of computers running the blockchain. This mechanism yields greater transparency and lesser middlemen interventions, unlike ordinary bank transactions.
The vision of Treon is to provide quality service to both the banked and unbanked market with convenient and secure utility payments. The GSMA reported that of the 5 billion mobile users, approximately 76% or 3.8 billion are unbanked consumers. It is exactly why the Treon app is built with a support center and user-friendly interface that even the unbanked consumers would be able to navigate so easily. This consolidated application further enables users to manage different utility accounts as Treon partners with telecommunication, water, gas, and electricity providers to custom-fit their existing payment systems into the Treon ecosystem. Since customer convenience is the topmost priority, Treon app permits users to automate their payments via scheduling, a mechanism that reduces errors in the payable amount and prevents delinquent payments. Indeed, all Treon transactions are safer, less costly, and highly efficient.
How does Treon benefit SMEs?
Treon benefits both the payers and the payee because of the significantly lower administrative charges, lesser downtime, and more secure transactions compared to banks and traditional payment centers. While Treon generally appeals to individuals (via the business-to-customer path) and utility providers (via the business-to-business path), SMEs likewise act as consumers through an authorized representative. Treon benefits the SME sector primarily through minimal transaction costs, which equate to lower operational cost and higher net income. Yet, there are many other Treon benefits.
As mentioned, the application allows easy management of different utility bills. Already, Treon has taken the responsibility to transact with the different providers, including those that have already formed agreements with each other or shared facilities. The least Treon users can do is to register their providers and pay as necessary. Because of the scheduling capabilities and smart notifications, SMEs can now avoid paying penalty rates because of delinquent payments. This means bigger savings to be invested in other income-generating activities.
With limited manpower, the finance personnel of any given SME may be overwhelmed with several deadlines. For this reason, Treon will become the best payment partner as it saves not only company funds but also company time. An average consumer wastes 20 minutes in queues for utility payments, and since electricity, water, gas, and telecom require separate transactions, a total of 80 minutes is lost in a month or 960 minutes in a year. This 16-hour loss of productivity could have been spent on other activities.
Fraudulent activities swarm all over the financial institutions. Approximately 2% of the total revenue in billions is lost in the telecommunication industry due to fraud and about 2-3% of income from mobile banking is stolen worldwide, according to Deloitte, a known authority in business audit and consultancy. The telco is only one of the four major utilities that people transact online with. Given this finding, SMEs, with limited contingency funds, could be better off using Treon since the blockchain technology is relatively more secure and transparent. In fact, some banks are turning to blockchain technology to safeguard their interests.
Lastly, Treon also has a reward system that grants payers Treon tokens (TXO) for every utility bill settlement, top-up of accounts, or use of greener sources of energy. While these are the initial offerings, the incentive system will possibly expand to include other measures, such as lower yearly consumption, early payments, and so on. Treon and the use of TXO not only bring economic benefits but also protect the environment.
How to participate in the TXO sale?
The vision is for TXO tokens to become a preferred utility token, accepted by utility providers. The 43% of its 1 billion overall supply or 429 million TXO tokens will be available on a presale which whitelisted buyers can have access of.
The sale starts on May 21, 2018, and ends on July 17, 2018. The sale stops even before the deadline once all available tokens are sold out. Smart contracts shall be issued thereafter. For more information about the bonuses and prices, get yourself whitelisted and get updates on the sale.
The future is promising for Treon. Utility bills take the biggest chunk of both personal and business income. With Treon, there will be more savings both for individual consumers and businesses like SMEs.
Get more details on this ICO and project by reading through its whitepaper and visiting the website and their social media pages:
Website: https://www.treon.io/
Whitepaper: https://www.treon.io/data/Treon-WhitePaper.pdf
BCT Thread: https://bitcointalk.org/index.php?topic=3403731.msg35625366
Telegram: https://t.me/TreonOfficial
Twitter: https://twitter.com/TreonNews
Facebook: https://www.facebook.com/treon.io/
Instagram: https://www.instagram.com/treon_official/
Medium: https://medium.com/@treon.token
Made by: Armaden
BCT Link: https://bitcointalk.org/index.php?action=profile;u=2081125