Populous PPT is another solid project gaining steam in the field of blockchain and cryptocurrency.
Designed to be a P2P (Peer-To-Peer) financial invoicing platform that expands beyond localized and limited markets, in an effort to be a truly global financial solution.
A Solution for Invoice Financing
The concept of Invoice Finance revolves around instantly freeing up cash that is tied up in unpaid sales invoices. Business owners have the ability to allow invoice buyers to buy at a discounted rate so they can unlock their cash quicker. Once the invoice is paid, the invoice buyer receives the amount that was previously agreed upon.
Populous leverages security, speed and transparency to connect invoice buyers with business owners around the globe. The token utilizes blockchain technology with XBRL (Extensible Business Reporting Language) data, smart contracts, tokens pegged to fiat currency and the Altman Z-score (credit scoring and bankruptcy) formula and K-means cluster analysis. The combination of these formulas provides a solution that leads to the replacement of third parties and financial institutions with the connection of buyers and business owners directly.
The main issue with traditional financing
The problem at a glance has to do with small businesses and their need for short-term financing. Often times these businesses will have a big need for working capital for procurement and wages. Taking out short-term loans from banks is not an ideal solution for this, and nor are traditional invoice finance companies.
Through P2P technology and blockchain, Populous has a real chance to disrupt this space by eliminating the intermediaries and connecting buyers and sellers of invoice financing. As an alternative lending platform, it is a solid concept with a promising output.
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