Populous is an invoice and trade finance platform built using the latest in blockchain technology.
Populous uses XBRL, Z Score formula, Smart Contracts, Stable tokens and more to create a unique
trading environment for investors and invoice sellers from all around the world. Read more
We at Populous believe we are creating the next generation fnancial marketplace. Please read our
whitepaper for a more technical overview of the platform.
XBRL is a global standard for exchanging business information which is freely available. It's also
currently used to define and exchange financial information, such as a company’s financial
statements. XBRL allows the expression of semantic meaning commonly required in business
reporting. Since the announcement in April 2011 that UK companies are required to file their
annual accounts and corporation tax returns in this format to the Companies House and HMRC.
Some 1.9 million companies are now successfully filing the ir financial statements in this format
each year. The accounts range from complex ones from large organizations to simple reports from
small companies. They vary significantly in format and presentation, since they are filed under
principle - based accounting standards which do not prescribe the layout of accounts. HMRC uses
XBRL data to assess accounts and tax returns, help guide tax risk and policy decisions, judge the
consequences of legal challenges and gain a better understanding of the business population.
With the UK’s Companies House making 6 years of XBRL data freely available for over 1.9 million
UK companies. We have a good starting point to analyzing past financial data and forecast credit
risk on companies over various different in industries and sectors. Before this can be attempted
we developed a method of extracting the XBRL data from its current document form into our
database, this has given us roughly over 2.8 billion points of data yearly which is updated daily as
soon as a company files their account to the Companies House for which enables us to perform
credit risks analysis.
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This article is just copied and pasted from their website. Read a more serious analysis here: https://steemit.com/cryptocurrency/@globalvanguard/alert-populous-ico-a-word-of-warning