Populous is a block-chain technology platform that allows you to control your cash flow and sell your invoices online. The company is using bill chain technology to reinvigorate billing and trade financing.
The online platform on Populous.co is a blend of blockchain and invoicing financing. XBRL relies on block-chain technologies such as smart contracts, hard tokens to create a unique trading environment for investors and invoice vendors around the world. Using Populous (PPT), companies can quickly sell their bills, then use their own Populous digital Tokens for real-world fiat currencies. You can do this cheaper, faster and more transparently than is available in traditional billing markets.
Populous’s overall goal is to create a new, next-generation financial market. Until now, Populous is the first and only billing and trading finance platform in the Ethereum blockchain. It allows you to buy and sell bills globally.
The ecosystem is based on the use of ordinary tokens called Papulous’s Pokens. Pokens are converted into individual banknotes all over the world. The value of Pokens is backed by investors investing platforms in financing their bills.
You can sell your bills for Pokens, then convert these Pokens to money using real-world currencies. It’s like selling a full-on-the-spot bill, but there are also cheaper transaction fees and faster transaction processing thanks to blockchain technology.
Populous (PPT) is based on the distribution of Pokens.
Once investors finance the invoices, Pokens is sent to invoice vendors (also known as debtors). Pokens can be exchanged with price money or transferred to an external Ethereum wallet.
Pokens works in two different ways: inside and outside the platform. Within the platform, Populous (PPT) manages each borrower and investor, an account book for each currency with an account book. Outside the platform, Populous (PPT) offers a smart contract for every Token that everyone can access.
The tokens are based on the ERC20 token standard. Populous (PPT) block chains are a combination of Ethereum and RSK block chains. Other technologies that are used with Populous (PPT) include XBRL, Z-Score formula, smart contracts, hard tokens, and others.
The benefits of Populous (PPT) are mainly financial opportunities offered by small and medium-sized businesses that are only applicable to large businesses in traditional financial markets. Lenders generally charge fees for these services; which makes the cost of borrowing unavailable to many SMEs. Removing agents from the centre ensures that all businesses enter the financial arena evenly.
In addition, the opportunity to increase invoices to the highest bidder allows SMEs to receive immediate funding instead of waiting for customers to pay for the bill for 45 to 90 days. And for a small business with a low-profit-margin, advanced payment capability can make a big difference.
This, combined with the global scale of blockchain technology, provides a more diverse and dynamic marketplace than traditional credit applications.
In the populous ecosystem, there is an extreme main party including the manager, debtor, and investor. The administrator approves and manages the accounts and transactions of the clients. The borrower sells invoices on the platform (Customers may register as a debtor if they want to sell the invoice). Investors bid on the sales of the products with a clear increase. (Customers may register as invoices when they want to purchase invoices).
These three parts interact with the three main technologies of the Populous system.
The bank manages internal accounting for all platform accounts, including links between internal books and external tokens.
The augmentation platform manages the augmentation processes. Administrators may make explicit auctions based on data provided by the borrower. Investors can create investor groups through the open auction platform, or open quotations can be found in the proposal. The augmentation unit is logically linked to the web that is being IPFS distributed. In other words, in each invoice enhancement, IPFS has mixed references linked to the documentation that is uploaded on the web.
Each world-wide government currency supported by the platform has a clever contract. These external tokens rely on the ERC20 Token standard. Using smart contracts, customers can withdraw funds from their funds, allowing them to access Tokens freely.
| In the end, Populous is for three groups of people. |
|---|
| For people who are tired of waiting for customers to pay their bills |
| Users who want to upload their bills and make a payment within 24 hours |
| Those who want to make quick cash by selling invoices as soon as possible. |
Billing sales industry is developing on the internet. Populous wants to introduce a block-chain technology to the invoice market that will facilitate faster, stronger, easier and cheaper international transactions in a decentralized and transparent marketplace.
The concept of Populous was spent in November 2016. The company’s technical report came out in February 2017, while ICO started in July. By September, Populous hopes to get XBRL integration ready for a public beta release in November 2017.
Populous’s important supporters and founders are Stephen Williams (Founder and Chairman), Zvezdomir Zlatinov (Solidity Developer), Jason Tuang (Financial Consultant) and John Morton (CTO).
The company is located in London.
Stephen Williams is the founder and chairman of Populous. Zvezdomir Zlatinov, Chief CTO and Smart Contract Developer, and economist Jonathan Millar, is an Invoice Risk Financing Specialist. A talented and creative young developer works with the team.
