What is Populous?

What Is Populous? Guide For Beginners

What generally happens? Banks and traditional lending institutions lend money out to the business owners who’s cash may be tied up as invoices.

Business owners, who are in the need of cash today, offer banks with their outstanding invoices at a discount. If you wish to solve this problem, then you must better know “what is populous?”

This invoice factoring business makes up a multi-trillion dollar like this. The financial service industry has dependably seen huge disruption in P2P (Peer-to-Peer) lending. Take SoFi, Upstart and Lending Club, for example.

However, there’s not any particular invoice factoring Peer-to-Peer consumer platform.

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When it comes to make this a reality, there are many real and valid obstacles to overcome –

  • The pre and post due diligence process is costly yet complex
  • Contract structuring needs a lion’s share of the litigation resources
  • Automating a settlement among different physical currencies

This is where the Peer-to-Peer invoice factoring smart contract blockchain, Populous along with its corresponding ERC-20 token “Poken” comes into play.

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Let’s Know The Ins and Outs of Populous

The Populous platform is centered around decentralization with a dedicated decentralized invoice factoring marketplace where both buyers and sellers of invoices can interact by swapping the tokens, rather than the traditional currencies.

Populous essentially allows individuals who are already on the platform to circumvent the traditional barriers to entry, and transact without the involvement of 3rd party lender or bank.

Situation 1

Let’s pretend that you run a small virtual-reality headset manufacturing business. Your company purchases scratch electronic components from the suppliers and puts them together to provide virtual-reality headsets at wholesale prices.

Let’s assume Company A comes along and purchases an entire inventory-worth of headsets – your largest sale!

As a result, your company draws up an invoice for the entire sale and sends it over. Now, Company A has no issues with the price but is willing to settle the payment in 90 days.

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Situation 2

Now, let’s pretend Company B comes to you on the very next day and is willing to purchase an even greater order than that of Company A.

Now, you are running short of cash and certainly nowhere near enough to purchase the scratch electronic components to build your product for the possible order.

At the same time, you are also not willing to lose the deal.

This is exactly where invoice factoring becomes a very powerful yet pragmatic financing tools for both the business owner as well as the lender.

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What’s the Catch?

Previously you, the small business owner, would only have a handful of possible lenders, primarily the typical accomplice of national banks, regional banks, and large lending institutions.

But, the Populous team offers you an option – a Peer-to-Peer invoice factoring marketplace that runs on blockchain based smart contracts.

You, as a business owner, can now elect to trust the transparent pre & post due diligence process for both your own invoice as well as your loaner’s credibility.

Besides starting from scratch with a lawyer, you opt for a smart contract developed by Populous.

And, the best of all is that you can now immediately accept an invoice offer from an invoice buyer using Poken tokens.

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How To Buy PPT?

You first need to buy Bitcoin or Ethereum on Coinbase exchange, and then transfer it into your account at Binance to exchange it for PPT. As simple as that!

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