Populous is a peer to peer invoice financing/bill discounting platform built on Ethereum network.If you are a small business almost all banks offers you some version of Invoice discounting depending on markets it can be called bill discounting, factoring. It is essentially a short term loan based on receivables from your customers. So if you are Alice and sell to Bob but receive payments in one month a third party bank can come and offer you short term loan based on right to take the receivable. Invoice financing helps small businesses manage short term working capital requirements.
Populous vision is to make invoice financing decentralized and enable peer peer Invoice financing reducing costs
Invoice financing is currently localized and is available only through banks and specified financial institutions. So as a business you have no option to use services of existing banks and financial institutions to avail of Invoice financing and as an individual you can participate in this transaction if you want to finance invoices.
Built on Ethereum virtual machine Populous is making invoice financing simpler and mainstream with a decentralized p2p network. Here are key pillars of populous solution
1. Connects businesses with invoice buyers in a secure, transparent and secure away.
2. Use in house risk model to appraise businesses using Altman Z score formaula
3. Smart contracts with stable flat pegged tokens
4. Cryptocurrency allows every one to take part in invoice financing.
1. Agile and Low cost network
Instant funding without any third party low paper work as smart contracts take care of all locking and releasing of money. immutable
2. Global Reach
You can sell and buy invoices globally
3. Blockchain based security and relaibility
All transactions get recorded on ethereum blockchain and hence are error free and can be easily tracked
Populous doesnot have an all star team and there have been criticism of the overall team and the fact that team retained 22 % of the total tokens available for sale. Here are the key members of the team
1. Stephen Williams - CEO - LinkedIn
2. Zvezdomir Zlatinov - Smart Contract Developer - LinkedIn
3. Jason Tuang - Financial Consultant - LinkedIn
4. Rayan Guotay - General Counsel - Linkedin
5. John Morton - CTO/Big Data Architect- Linkedin
6. Dr. Jay Best - AI and Cryptocurrency Strategy Advisor - Linkedin