Populous Blockchain Invoice Eco-System
Populous is a decentralized blockchain platform for direct invoice financing between businesses and creditors without having to use third-party services. The invoice system works on smart contract base. Some of the significant advantages of this system are its global reach and almost instantaneous ability to transfer funds, so typical of cryptocurrency world.
How Does Populous Work?
To sell your invoice, you will first need to register your company on the Populous system and get approval from administrators. After you submit your invoice proposal and set the minimum sales goal, the system will use multiple algorithms to determine your credit rating. If the system approves your invoice, a 24-hour auction starts.
Pokens and PPTs
Upon completion of the successful auction, your company receives the funds in Pokens – internal system’s currency that is tied to a fiat currency. For example, being a UK company, Populous has its GBP Pokens valued at 1 GBP per token. Another Populous token, ticker symbol PPT, was introduced during an ICO to raise funds for running the platform. The maximum amount of PPT is restricted to 53 million tokens, so they are more of an investment tool rather than Pokens.