Why You Need Barcodes For Your South African Business
01 July 2022
The Best Plant-Based Bobotie
30 June 2022
3 Steps For Your Company To Go Paperless
27 June 2022
DALL-E: Image Generation By Description
26 June 2022
Trending Music Hashtags To Get Your Posts Noticed
24 August 2018
Trending Fashion Hashtags To Get Your Posts Noticed
05 April 2018
Trending Wedding Hashtags To Get Your Posts Noticed
18 September 2018
Trending Beauty Hashtags To Get Your Posts Noticed
05 July 2018
What Is Populous Coin? (PPT)
The introduction of cryptocurrency has begun to change the way we view the current financial market and it was only a matter of time before blockchain projects began to enter all facets of money. The field of finance and invoicing software is a multitrillion-dollar industry with companies like Sage and Oracle becoming the dominant players in the market with little or no disruption.
The market has been due for an upgrade and a project called Populous looks to do just that by applying blockchain to how we store, manage and organise finances on both medium and larger scales. Populous is the first and only Ethereum based platform specifically designed to cater to invoice and trade finance.
What is Populous (PPT)?
Populous is a peer-to-peer (P2P) platform that uses blockchain to provide small and medium-sized enterprises (SMEs) with a more efficient and scalable way to participate in invoice financing. Managing a reliable and consistent cash flow is a serious problem with many start-ups and SMEs and many times this can lead to overextending your credit with late invoice payments cost small businesses billions each year in fees and missed opportunities. Using invoice financing, businesses can sell their outstanding invoices at a discount to quickly free up cash immediately and gets rid of admin and obligations.
The person buying the invoice effectively takes it over and receives the money when the client pays. Populous was founded in The UK by Stephen Williams, who has had experience as an analyst in the domains of finance and big data. He had a keen interest in XBRL (eXtensible Business Reporting Language), which was rapidly revamping the way businesses had to file their annual financial reports. Williams started out by constructing a tool which extracted lists of businesses that were asset rich but cash poor. He began selling this data to financial institutions, using a primitive door-to-door method to generate sales.
The rise of blockchain technology was happening around this time, and Williams wasted no time in seizing the opportunity to migrate his business model to this technology stack. The Populous team took his business model and then constructed a real-time financial marketplace by scaling XBRL data and securing it with the use of Smart contracts on the existing Ethereum blockchain.
Why should you pay attention Populous?
The benefits of Populous lie chiefly in the financial opportunities it offers small and medium-sized enterprises which, in traditional financial marketplaces, are feasible only for larger businesses. Banks and lending institutions generally have fees on their services, making borrowing money prohibitive to many SMEs. Populous essentially takes an old finance instrument and cuts out the middlemen to ensure that all businesses enter the financial arena on equal footing.
Allowing businesses the opportunity to auction off invoices to the highest bidder allows SMEs to get immediate funding, rather than wait the 45 to 90 days for customers to pay invoices and exhaust they are run away or miss out on opportunities. For a small business with slim profit margins, this type of finance can make a world of difference.
Blockchain scalability and trustless environment
Combined a financial marketplace with the global scale of blockchain technology, allows for a more diverse and dynamic buyer and seller interactions than traditional lending practices have allowed. Using the Populous tokens small businesses can sell off their outstanding invoices as a security to anyone around the world regardless of their currency as all trades on the network are made in tokens.
Current Populous marketplace
Populous claims to have an XBRL database of 3 million companies already on board who will provide the initial inventory for the marketplace where companies can list their invoices and investors can fill them with their tokens and earn interest on the invoices. When the invoices are filled, the PPT tokens are returned to the investor in addition to the interest earned. So essentially your money invested into the tokens will not only appreciate in value, but they’ll also help earn you money while they’re sitting around in your portfolio.
What is Populous used for?
Populous is used in combination with its marketplace platform as a custom stable currency called “Pokens.” They are pegged 1:1 with the national government currencies involved in the transaction. For example, 20 GBP will be pegged at 20 Pokens. The tokens are used as the commodity for buying and selling invoices across the network.
Can you mine Populous?
No, Populous (PPT) is an ERC20 Token and cannot be mined.
Can you earn Populous?
Populous (PPT token) users can earn digital currency via exchanges. Users can earn tokens through trading on different fiat and cryptocurrencies and take advantage of market fluctuations.
Where can you buy Populous?
Populous is listed on a few international cryptocurrency exchanges and is actively traded on websites like:
Should you invest in Populous?
Populous is an interesting opportunity with huge upside potential, however, trying to compete in the accounting finance industry won't be an easy path to take. Large centralised businesses still hold a sizeable amount of the market. Without targeted acquisition through XBRL to get initial inventory and showcase its value as a medium of exchange, the Populous network will find getting organic growth very hard to come by.
For more on Populous check out their website
If you want to know more about cryptocurrency don’t be shy we’re happy to assist. Simply contact us
Disclaimer: This article should not be taken as, and is not intended to provide any investment advice and is for educational purposes only. As of the time posting the writers may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency as all investments contain risk.