Control of settlements between suppliers and contractors plays an important role in the life of each enterprise. In other words, it is the control over receiving incomes and expenses. Overdue accounts receivable reduces not only the final profit of an enterprise, but also removes assets from turnover. Thus, money does not work in this condition. At the moment, companies pay little attention to the control over timely settlements due to the lack of appropriate software. Decentralized InstaSupply platform intends to solve the problem of timely settlements between buyers and suppliers, allowing to automatically generate payment documents and make an advance payment for future deliveries.
https://www.instasupply.com/
Key features of InstaSupply
The work of InstaSupply platform is based on the prepayment by a buyer for the forthcoming delivery, which allows to exclude the occurrence of overdue accounts receivable. In case a buyer does not have the required amount for the advance, InstaSupply offers to issue a loan at reasonable interest. Thus, an insolvent buyer will be calculated already with a creditor, and not with the supplier of the products.
Benefits of InstaSupply
The project is based on blockchain technology, which ensures the preservation of confidential company information and secure calculations through the platform. A personal account is created for each individual enterprise, which is a separate network node that is not connected with others, which guarantees reliable preservation of monetary funds and information.
The platform allows a supplier to fully work with the base of its supplies. You can sort your products, analyze the sales level in the context of each unit on the platform. InstaSupply allows to escape interacting directly with your customers. When you receive an order for goods, a supplier confirms the reserve of the order. When the API is confirmed, the technology generates all necessary documents, including an invoice. Thus, a supplier saves time for the execution of documents with a guarantee of the correctness of their filling.
A customer, in turn, can work with different suppliers when collecting one order. Artificial intelligence platform will pick up the optimal prices, delivery time. Now you do not need to negotiate separately with each vendor, when you confirm an order - payment documents are automatically generated. You can track the delivery phase online.
Payment for deliveries is made using the platform's cryptocurrency. In case of the lack of funds on the account, a customer can apply for a loan on the platform. Through the use of InstaSupply smart contracts, transactions are performed quickly and for an affordable commission fee. Thus, a borrower will not have to wait for the approval of an application when requesting funding as money is credited instantly. But it is important to note that a credit is limited.
https://www.instasupply.com/
The platform has been operating since 2015, and currently has more than 2,000 connected companies. The platform has proven itself as a reliable partner and allows conducting transactions with the cost of more than $60 million per year. The potential market reaches the volume of 20 trillion dollars, i.е. InstaSupply has a significant growth zone.
InstaSupply cryptocurrency
To perform calculations on the platform, PayBlok tokens (abbreviated as PBLK), based on the Ethereum ERC-20 standard, are used. A total of 250 million units have been issued, of which 60% were allocated for sale. The project’s softcap is $5 million, hardcap - $15 million. You can buy cryptocurrency for both fiat and cryptocurrency (BTC, LTC, ETH). Now the project is at the pre-sale stage where you can buy tokens cheaper. The main crowdsale starts on August 27th.
Summary
Thus, InstaSupply is an innovative project that was created to simplify settlements between suppliers and customers in order to eliminate overdue receivables and, as a result, increase profits. A convenient interface, reliable protection with blockchain technology, high transaction speed have already won the trust of many American enterprises. InstaSupply plans to enter other continents in the near future with the gradual introduction of new tools, and by 2020 the full functionality of the platform will be available.
Links:
Website: https://www.instasupply.com/
WhitePaper: https://bit.ly/2KElXQG
Telegram: https://t.me/joinchat/HZSTLA9rcKJJZKXUHlHkfA
Facebook: https://www.facebook.com/instasupply
Twitter: https://twitter.com/instasupply
Medium: https://medium.com/instasupply-blog
ANN: https://bit.ly/2OVUo8P
Author: https://bitcointalk.org/index.php?action=profile;u=980049
This article was created in exchange for a potential token reward through Bounty0x
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.