PayBlok is a cryptoasset that incentivizes B2B payments within the InstaSupply platform ,, InstaSupply is introducing PayBlok, a token aimed at solving SMB cash-flow problems InstaSupply have spent time building and refining a robust workflow that captures, digitizes, and automates all the back-and-forth interactions that proceed payment. Whilst disruption of the problems in business related to ordering, delivering, invoicing, and accounting have been a key focus, managing payments has always been the company end game since inception. InstaSupply provides a workflow for buyers and suppliers to manage their payments and collections respectively. With over 2,000 businesses currently using the platform, over $60 million worth of invoices are passed through InstaSupply on an annual basis. By creating a business network between buyers and suppliers, the platform collects data from both sides. InstaSupply empowers users to create and place purchase orders, track deliveries, and match orders to corresponding invoices; this enables buyers to track, manage, and control their spend.
The InstaSupply platform
Aiming to improve how quickly businesses pay and get paid, InstaSupply is a cloud platform which allows businesses to track and control spend across suppliers. We bring together purchase ordering; approval workflows; budget control; delivery tracking; supplier and product management; secure invoice and credit document storage and data collection; accounting reconciliation; and payment control.
The InstaSupply platform is already supporting the trade of over 2300 businesses, and is growing daily. By allowing businesses to match purchase orders to deliveries, and finally to invoices, we provide them an opportunity to control which of those invoices should be paid, and which require further investigation. What's more, with our Payment Run product, businesses can group together the approved invoices, apply any outstanding supplier credit, and generate a list of payments to be made to suppliers through their traditional banking services.
Features
Mobile interface
The full platform accessible on mobile.
Record all transactions
Control of all orders and deliveries across the business.
Real time tracking
Real time tracking of all spend & payment activities across currencies & location.
Custom supplier onboarding
Custom onboarding and training for your suppliers.
Expert customer success
Our customer success team are always there throughout your time with us.
Custom approvals
Custom mapped approvals for all purchases and invoices.
PayBlok Tokens
PayBlok is a crypto-asset (token) that allows its owners/holders the access to exclusive benefits inside the InstaSupply platform and it will be developed under the ERC20 Token Standard. Ownership of PayBlok tokens does not entitle owners to any right in regards to InstaSupply as a company, including but not limited to: profits, vote, or employment. As an asset, the initial sale of tokens will be subject to sales taxes according to each market. Following this, a token belongs to its owner and can be traded without restriction or the need for consent or participation from InstaSupply. Creation of the PayBlok token enables InstaSupply to offer a range of products that solve the problems faced by SMBs as outlined in section 3 (“SMB Problems”).
Theses products consists mainly of:
• an Integrated Payment Solution
• Supply Chain Financing
• Asset-Based Lending
The PayBlok Network Incentives
Users will receive PayBlok tokens as an Incentive for:
- Paying invoices using InstaSupply:
The payer receives 0.5% of the total value of the invoice, receiving payment in PayBlok to their wallet.
- Approving/verifying invoices early + Taking an early-pay discount
When an invoice is successfully paid early and the whole transaction is settled before the invoice due date, both Payer and Payee receive PayBlok into their wallet corresponding to 0.5% of the original transaction.
- Referrals to InstaSupply/PayBlok as the payment gateway for its transactions Businesses referring other businesses will receive tokens for 1% of all payments that the new business processes during the first 6 months after the signup. This incentive will accelerate the growth through the Partnerships.
The PayBlok Wallet
Every vendor on the InstaSupply platform will receive a virtual wallet to hold their PayBlok tokens. Any tokens issued within InstaSupply as rewards will automatically be transferred into this wallet. The PayBlok wallet will be built as a centralized virtual wallet within the InstaSupply application, specific to each business vendor (buyer or supplier). Users will be able to transfer PayBlok into their wallets from external sources using standard blockchain, and will also be able to transfer PayBlok back out again. Since PayBlok will be implemented as an ERC-20 token, the InstaSupply PayBlok Wallet will also be able to store ETH in order to allow gas payments for transfers on the Ethereum blockchain. The wallet will also allow temporary storage of fiat currencies gained through cash-out actions, which can then be transferred to a bank account.
The Distribution The distribution of tokens will break down as follows:
60% Token Sale (150,000,000)
15% Blocked for future use (37,500,000)
18% Company, Team and Advisors (45,000,000)
5% Incentives | Rewards (12,500,000)
1% Referral Program (2,500,000)
1% Bounty Program (2,500,000)
For more information visi:
Website https://payblok.instasupply.com/
Twitter https://twitter.com/instasupply
Facebook https://www.facebook.com/instasupply
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