We are kind of getting more used to being able to pay different things via cryptocurrency and the blockchain, so the idea of paying out utility bills in this manner is hardly a leap forward in our imagination. However, that is the very thing that Treon is going to focus on with their project, and there is no doubt that this is going to be a huge market for them to then tap into.
What is Treon?
So, the idea of the new platform is that they have created a token that can be used to pay bills via the blockchain. They are also creating their own e-wallet, but their primary focus is certainly going to be on the utilities market which has often been at the forefront of using different technology to allow people to pay.
Their main concern will be electricity, telecom, energy and gas with them hoping to capture a significant part of the market in just a few years. Of course, there will still be a number of people that feel unsure about using this technology, but with the claim that it speeds up transaction times while also cutting fees, then it should be an attractive proposition to most people.
They also claim that by using their interface that it will be easier for individuals to keep track of their bills at all times. Clearly, this is something that does have some real potential.
The Technical Aspect of Treon
The new platform has been built on the Ethereum platform, and that does mean that there is that sense of stability and security that tends to come with that platform. Also, the token that they have created is an ERC20 token, so that opens up additional possibilities thanks to the way in which any Ethereum wallet can be used to store the tokens.
Consumers will be able to log onto the Treon platform where they will be shown their different level of consumption allowing them to see where they perhaps need to cut back on expenditure. The fact that they cover every type of utility does mean that this should be easier to control since it is just on the one screen.
When it comes to paying, they click on the bill in question, and tokens are used to complete the process. This is done via Smart Contracts which shows that there are enough tokens to cover the cost before it is put on the blockchain and processed. From this respect, they are not doing anything different to so many other projects out there, but it is the product and service that they are offering that changes everything.
The Advantages of Using Treon
There are a number of pretty obvious advantages of using the new blockchain based platform, one of which has to be the ease with which you can keep track of everything. By being able to view your consumption levels at each stage, it reduces the chances of you over-spending or being hit by a surprise bill that is higher than you thought. Also, the use of tokens will cut expenditure and fees as well as transactions being made in an instant thanks to the blockchain. This does away with the delays that often surround utility bills, so you can just be sure that it is paid and off your shoulders in an instant.
The Financial Aspect and the ICO
During the ICO phase, they are going to be able to accept both ETH and BTC but if you are in the United States, then you are going to be restricted from taking part. They also have their own soft and hard cap in place for the ICO with the soft cap being set at a total of $4 million while the hard cap is higher at $25 million.
At this point, there is no mention of there being a minimum investment figure, but they have established an exchange rate of 1 TXO costing $0.11. There are also 429,700,000 tokens available at this time, and that represents 43% of the total number that has been produced for the project. Those that are not sold will then be destroyed to give the final total of tokens for the entire project.
Full details can be found on their website:
Overall Conclusion About Treon and the ICO
From an idea point of view, there is no doubt that it could be a good use of blockchain technology, and those that are more technologically aware would certainly consider switching to this form of payment as they would just find it easier to do. However, it will take some persuasion for the other part of the market to make the switch.
The success of the project will depend upon if they're able to convince enough users to use their new platform but ofcourse this is the problem facing most new ICOs. With a large advertising budget from a successful token sale they should have as good a chance as any of the other token sales currently available.
ANN Thread: https://bitcointalk.org/index.php?topic=3403731.msg35625366