What is Populous?
Populous is a peer-to-peer (P2P) invoice and trade financing platform, built on the Ethereum blockchain. It is designed so that small businesses can finance their unpaid invoices from their customers, with more transparency, less administrative work, and faster settlement.
P2P platforms are unique in that they connect invoice sellers (borrowers) directly with invoice buyers (investors).
One of the main competitor of Populous (which is a UK-based company) in UK is Marketinvoice. The source of funding (of invoices) in the case of Marketinvoice is UK government-back British banks.
What is unique about Populous is that because it is built on the Ethereum Virtual Machine (EVM), this has provided the opportunity to create a platform that allows everyone to participate in an alternative finance marketplace globally, which is currently available only to banks, financial institutions, wealthy individuals, family offices and governments.
So What is Invoice Financing/Factoring in a Nutshell?
There are differences between invoice financing & invoice factoring, and they're being used interchangeably. But the image below illustrate the idea nicely:
How Can You Take Advantage of Populous?
By purchasing Populous tokens (i.e. PPT) you can participate in the lending practice offered through Populous platform and earn interest on your investments.
Since I invested in PPT tokens, its price skyrocketed tenfold. The beta platform has not been launched yet (as promised to be launched in Dec. 2017). However, I believe if Populous platform proven successful the current price of PPT is a bargain at around $44 at the time of writing.
What are your thoughts on Populous?
Source:
- https://bitcointalk.org/index.php?topic=1866936.0
- https://www.pymnts.com/news/b2b-payments/2017/populous-invoice-finance-supplier-sme-small-business-alternative-lending-blockchain-smart-contracts/
- https://populous.co/populous_whitepaper.pdf
- https://populous.co/Business_Plan_Populous_final.pdf
- https://fitsmallbusiness.com/how-invoice-factoring-works/
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DISCLAIMER: I have no affiliation with POPULOUS Platform.