Populous is a cryptocurrency as well as an invoice Marketplace, built with the latest in blockchain technology. It adopts Blockchain’s distributed ledger system to provide a global invoice financial trading platform. The Aim of Populous is to reduce and eliminate the requirement for a third party in invoice transactions. Populous creates an in-house classification system to evaluate debts and also to create an auction system based platform by connecting invoice buyers and sellers on a global scale utilizing the speed, transparency, and security of blockchain technology by combining XBRL data and the Altman Z-score. The Beta Version was launched in the First of May, 2018. Populous works less as a Blockchain, but rather, it could be classified more on the side of an Invoice Financing Company. Blockchain opens new prospects for invoice financing; this includes lower fees and higher speed. For the medium-sized enterprises, this is a rather efficient method for participating in invoice financing with Populous’ p2p platform.
Populous was established in 2017 by Stephen Williams with the idea of creating a platform for customer acquisition and invoice discounting using "Big Data." The idea was initially conceived in late 2016 when the Bitcoin hype caught the attention of Stephen, who after researching and testing the Blockchain technology, decided to combine it with the Invoice discounting platform. It was intended to revolutionize the invoice marketing industry, and launched a pre- Initial Coin offering (ICO), raising funds from investors to further develop the platform as well as cover all the upfront costs. Populous is based in London and is headed by Stephen Williams as the CEO and the Founder.
In Populous, buyers and sellers communicate and exchange invoices which are done through auctions using smart contacts. To use Populous for selling invoices, you will first be required to sign up your company, after which you will be needed to await approval from the administrator. After receiving approval as a seller, you can now submit your invoice along with a minimum sales goal. Buyers can select the invoice they would be interested in financing and bit on them, setting up interest rates. The seller is free to confirm on any bids, and once the confirmation is made and the invoice sold, the seller receives the money in the form of Pokens and the transaction is complete, and can also use these cryptocurrencies to exchange for actual Fiat currency. After this, the buyer will also receive their return. The auctions period lasts for twenty-four hours, and if within the allotted time the sales goals aren’t met, you have the option to accept the best bid available, restart or cancel the auction. You will also need approval from the administrators if you want to buy invoices. You will be required to enter KYC information if you wish to purchase invoices using Fiat currencies. If however, you want to use cryptocurrencies for this intent, this information isn’t necessary.
Populous uses the ‘eXtensible Business Research Language' (XBRL) to analyze and assess credit risks, using real-time XBRL data and the Altman Z formula. The analysis is based on information such as the Value of Debtors and creditors due in the coming year.
Populous features their own XBRL policy which is also available to any business owners and businesses in general in the form of Business Intelligence. Populous also features an XBRL Database which provides information regarding decisions in the interests of companies.
The Altman Score
This is a platform that provides information that determines risks that are involved in the invoice financing business. The Risks included are the probability of an industry facing bankruptcy in two years, control models for the management of financial risks and the likelihood of a company going back on their obligations. The approval of an invoice is dependent on the Altman score, thus effectively making the system credible.
This is a buyer exclusive feature. Bidding groups are essentially bidders who gather and enter an auction as a single entity to make bids. You can either join a bidding group or start your bid alone.
Global Peer-2-peer Invoice Discounting
The comprehensive p2p invoice discounting formula enables sellers and buyers of invoices to communicate and transact invoice deals regardless of their geography or currency, all without the requirement for a third party: a significant advantage in the invoicing industry.
Low-cost services with quick transactions
Using the blockchain platform, Populous provides a high-speed operation with immediate funding and without third party requirements. The smart contracts also perform autonomous financing of users to collect and release payments.
Safety and security
Populous uses the Ethereum Blockchain facility; Populous reduces the chances for errors and foul use of information by recording the transactions transparently onto the blockchain.
There are two kinds of Populous cryptocurrencies, and this can be somewhat confusing for most people. These are Pokens and PPT (Populous platform Token). The primary investment vehicle is the Poken, and you can use PPT to invest in your invoices.
The Internal currency circulated within the Populous platform is Pokens. These are ERC20 Tokens, and they are used while purchasing invoices. Fiat currencies like USD, GBP, Yen, and EUR can be used to buy Pokens directly from Populous. But other currencies which aren’t supported will have to purchase and exchange their other cryptocurrency coins for Pokens. You can buy Pokens from different cryptocurrency exchanges including Cointree, Okex, Coinswitch, Binance, and Okex.
The purchased Pokens can be stored in any supported wallets, which need to be Ethereum enabled since Pokens are Erc20 tokens. You can either save your Pokens in MyEtherWallet, Ledger Nano S, Parity, Trezor or Metamask.
In July 2007, Populous held their ICO (initial coin offering) during which they raised over USD 10,000,000. The Market Cap of Populous is $135, 464,604 USD which equals to 21,416 BTC. Within the Community, the total circulating supply is 37,994,027 PPT. The Value of one PPT is USD 3.61.
|Genesis Date||July 09, 2017 (8 months)|
Source: The Merkle - 2 months ago
Most of the current cryptocurrency price momentum seems to indicate major gains loom on the horizon. Especially when it comes to the altcoins, things are heading in a very interesting direction right now. Populous, for example, notes very impressive gains across the board and is now on the verge of entering the cryptocurrency market cap […]
Source: NEWSBTC - 10 months ago
FOMO Moments The picture is pretty bleak during this morning’s Asian trading session. South Korea’s blockade of anonymous trading accounts has caused another selloff and a sea of red confronts traders today. It is that bad that we have to go a long way down the list, which is all hemorrhaging, to find an altcoin
Source: NEWSBTC - 10 months ago
FOMO Moments The markets are green again for another day, driven by momentum during the Asian trading session. News that Japanese exchange Coincheck will be refunding all of its investors with their stolen XEM would have been a positive influence. One altcoin however is standing apart again with gains of over 16% on the day
|Huobi Token (HT)||$1.09732||-7.21%|