Populous

Populous is a global P2P (peer-to-peer) invoice discounting platform built on Blockchain technology. The platform use smart contract to directly pair invoice sellers and lenders to transact and without third parties.
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What is Populous?

Populous is a global P2P (peer-to-peer) invoice discounting platform built on Blockchain technology. The platform use smart contract to directly pair invoice sellers and lenders to transact and without third parties.

Invoice financing is a very common way for corporates to fund them themselves. In simple words, it is the selling of invoice collectibles to third parties at a discount. The benefit for the seller is the immediate availability of funding and for the buyer the discount they enjoy in getting the collection.

How does Populous work?

On Populous, buyers and sellers trade invoices through auctions using smart contracts.

For sellers, they can submit the request to sell an invoice to the system which will be approved by the administrator. The administrator will evaluate the credit risk of invoices using a formula which applies data available publicly. Populous has developed their own in-house credit rating system to rate the quality of the invoice. Once the invoice sale request has been approved, the auction process will begin, which will last for 24 hours.

As a buyer, you will gain access to the platform using the PPT token, which is available on the exchange.

There are two native tokens on Populous – PPT Token and Pokens. The PPT Token is the access token, which could be converted to Pokens after you have access. Pokens will be used to bid for invoice. Pokens are pegged to GBP at a ratio of 1:1.

The buyer will take part in the 24 hours auction using Pokens to bid for the invoice. If the buyer wins, your Pokens will be paid to the Seller and the seller could either keep the Pokens or convert that back to fiat. The buyer will receive the invoice payment when it is due. If you lose the bid, your Pokens will be returned to you.

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