Instasupply is a platform, already servicing 2000+ plus businesses, with the aim of making businesses more financially and operationally efficient by providing a solution to manage all interactions between buyers and suppliers. Instasupply want to introduce the PayBlok utility token into their ecosystem in order to help businesses to both pay and get paid faster. This is the essential base factor in allowing businesses to increase their cash flow, in turn improving their capacity and potential for growth.
PayBlock itself, then, is the utility token which allows businesses access to the payment and financing features within the Instasupply platform.
Instasupply Platform
Instasupply is a platform which is already in existence and is fully operational, servicing over 2000 businesses every month, which allows businesses to manage the exchange of all their business interactions with their existing supplier base. These include:
- Placing direct purchase orders with their suppliers
- Documenting the proof of receipt of goods delivered from those suppliers
- Receiving any invoices corresponding to those purchases
Instasupply therefore provides an effective, efficient and complete solution… well almost. The only part of the experience which Instasupply does not already manage themselves is the payment of the suppliers’ invoices. Currently, this process is carried out using information provided by Instasupply, but is fulfilled off-platform directly between the buyer and supplier.
Instasupply want to change this, as they see this payment processing step as the ‘last mile’ in achieving a complete and ultimately effective solution for their customers. This important step would provide various benefits to both buyers and sellers within the platform, unlocking more experience-enhancing features than previously possible.
One newly possible feature within Instasupply’s solution would which would be particularly HUGE in the way of innovation within the would be the utilisation of smart contracts. Smart contracts based upon triggers, such as buyer-approved invoices, could potentially trigger instant payment to the supplier, enabling Instasupply to provide a supply chain finances solution which is superior to current traditional options.
PayBlok tokens themselves will act as an incentive for the adoption of Instasupply’s built-in payment feature. This will make Instasupply a better and more efficient alternative to any externalised payment process, and will make Instasupply a notably attractive solution for a potentially HUGE number of businesses.
Not only this, but both the buyer and supplier are actually incentivised to use the built-in payment solution using tokens: when a payment is processed through Instasupply, both the buyer and the supplier will receive tokens as a reward.
Token holders will have many uses for Payblok tokens within the Instasupply platform, the use of whivh will allow the unlocking of exclusive features, such as:
- Discounted fees for accessing the platform and supply chain finance products.
- Access to asset-based lending, where tokens will be used as collateral for guaranteeing a loan
- Using tokens to make actual payments.
Team
Find a description of each team member alongside social links at https://payblok.instasupply.com/
Anybody can write an impressive whitepaper and create a persuasive website; the idea is the easy part, it’s implementing the idea which is difficult. In the Wild West of crypto, ensuring that the team has the experience and capability required is crucial.
In the case of InstaSupply, as they are already a functioning and successful company currently servicing over 2000 businesses, their current success already lends credence to the team’s ability to accomplish their goals and effectively run a company. However it is still crucial to ensure that the team have the technical ability to carry through with the implementation of their vision for advancement.
The team at InstaSupply harness an impressive array of skills and expertise, and combined have decades of relevant experience in many areas crucial to their mission. Each team member’s credentials are impressive in their own right which is reassuring to see, with the CIO/CTO Tim Huegdon for example having previously occupied upper managerial technical positions at Amazon, Yahoo! UK, Betfair, as well as Rentokil Initial.
You can find an excellent description of each team member alongside a link to their LinkedIn profiles (and a couple of Twitter links too) on the payblok.instasupply.com website.
Token Sale Details
• Total Tokens: 250,000,000 PBLK Tokens,
• Public Sale Tokens: 150,000,000 (60%)
• Token Price: 1 PBLK = 0.30 USD
• Token Sale Start Date: 05/15/2018
Taken from the PayBlok whitepaper: https://payblok.instasupply.com/documents.html
Summary & Verdict
Business to Business payments are a HUGE industry (valued in the United States alone at a little over $18 trillion- yes, trillion), dwarfing business to consumer payments (at $5 Trillion) and consumer to consumer payments ($709 Billion) by far, making a solution such as Instasupply’s which solves the current problems in the space a very valuable concept.
Instasupply have proposed a solution which effectively and innovatively incorporates blockchain technology to provide a plethora of benefits to both buyers and suppliers using their platform. This innovative approach makes Instasupply a superior solution to current traditional options from an efficiency, experience, and technical standpoint.
Smart contracts are one of the most innovative features of blockchain technology, and what I believe will have the most profound impact on upgrading many aspects of our current everyday experiences. Business payments and financing is one of these experiences which is overtly ripe for disruption and innovation such as this proposition from Instasupply, and utilising smart contract technology for such a purpose has the potential to make the whole experience more secure, efficient, and beneficial for all parties involved.
Instasupply has a game-changing vision and are beginning their next phase from a solid platform, in the form of their currently successful solution. It will certainly be exciting to watch them develop the next blockchain-based layer of their ecosystem, and discover how the technology can potentially change the space itself.
Find out more at the https://payblok.instasupply.com/ website
and dig in deeper with their whitepaper: https://payblok.instasupply.com/documents.html
Bounty0x username: cryptoleonidas