What is PayBlock?
PayBlok is a token aimed at solving small and medium size business cash-flow by offering an early payment function on top of the existing features within the InstaSupply platform, which already supporting the trade of over 2300 businesses, and is growing daily. The PayBlok wallet will be built as a centralized 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 methods, and will also be able to transfer PayBlok back out again.
Payblok using the system interface or transfer Ether or PayBlok from an external wallet. The system gives up to 6 hours for this external transfer to be completed and if unsuccessful, the invoices return to the pool waiting for new funding. At the invoice due date, the buyer should make the payment using the integrated payment gateway and the funds will be transferred to the investor’s wallet, net of fees, instantly. InstaSupply manages the risk associated to the transactions getting the buyer’s confirmation on the invoices, tracking the buyer’s credit rating and applying interest rates that are competitive for both the seller and the investor according to each country market condition.
The PayBlok payment gateway will extend the Payment Run feature by allowing direct dispersal of PayBlok as payment to suppliers on completion of a buyer payment run. This will also automate the marking of invoices as paid, and the generation of remittances for each supplier. Payments will essentially be converted to PayBlok in the background, with the supplier then being able to cash out to fiat currency whenever they choose. This also then enables purchase of the invoice assets using pools of PayBlok introduced by Investor users. Since all payment transactions will involve conversion to PayBlok for transfer between wallets, this also means that all payments will be recorded on Ethereum as true ERC-20 token transfers.
Project Team:
Token Details:
PayBlok is a crypto-asset (token) that gives its owners/ holders exclusive benefits on the InstaSupply platform. It will be developed under the ERC20 Token Standard. 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.
Token PBLK
Price 1 PBLK = 0.10 USD
MVP/Prototype Available
Platform Ethereum
Accepting ETH
Soft cap 1 000 000 USD
Hard cap 5 000 000 USD
Country UK
Whitelist/KYC KYC & Whitelist
Restricted areas USA
Verdict:
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. Funded through rounds of investor financing since formation, the company has built a team of deeply experienced professionals who develop the platform, onboard and sustain thousands of businesses and have processed over $60 million in transactional value.
Important links:-
Website: https://payblok.instasupply.com
Whitepaper: https://payblok.instasupply.com/documents.html
Telegram Group: https://t.me/joinchat/HZSTLA9rcKJJZKXUHlHkfA
Twitter: https://twitter.com/instasupply
Facebook: https://www.facebook.com/instasupply
ANN: https://bitcointalk.org/index.php?topic=3740408
Bounty: https://beta.bounty0x.io/hosts/PayBlok
ETH: 0xCc538c6335203Cd2e771F27d12F4c90695366407
BTT: https://bitcointalk.org/index.php?action=profile;u=1495664
