PayBlok
The cryptocurrency world is booming with diverse kinds of cryptocurrencies, each with different purposes. Some cryptocurrencies have value, while some are just utility tokens to keep their respective platforms functioning, and one of such utility tokens is PayBlok (PBLK).
The PayBlok token was created to solve the problem of cash flow in small and medium scale businesses, by providing a function that allows for early payment, which is an addition to the features that are available on the InstaSupply platform. The platform is basically a place where suppliers and buyers can connect and do business.
InstaSupply where the PayBlok utility token is used, was created in 2014, with the intention of making it easier for suppliers and buyers to interact better with each other online. The platform was created to eliminate the problems experienced in business, including placing of orders, accounting, invoicing, and delivery. The platform seeks to manage the way payments are handled when transacting businesses, as it has proven to be a problem when making payments using traditional methods. Presently, the InstaSupply system is supporting more than 2300 businesses, and has been experiencing growth on a daily basis.
By using the PayBlok token, buyers and suppliers will be able to make quick payments on the platform without going through the unnecessary hassles that come with the traditional means of managing payments. Some of the benefits that come with using the utility token include:
• Creating and facilitating a payment gateway on the InstaSupply platform.
• It serves as an incentive, suppliers and buyers will get credited with the tokens, when they make their invoice payments using the InstaSupply gateway.
• Invoices will be unlocked up to 98% of their value, hence the token will finance invoices.
• The utility token can be used as collateral for loans on short-term, this is a form of lending using assets, and is a solution to the problems of cash flow plaguing the traditional system.
• After the token has been fully adopted within the InstaSupply economy, it then becomes a mode of payment.
Please note that the PayBlok is just a utility token, and should not b mistaken for a coin with value. It is just for use within the InstaSupply community and no place else.
Token Information
• Token Symbol: PBLK
• Total Tokens: 250,000,000
• Platform: Ethereum ERC-20
• Token Allocation
60% (150,000,000) – Token Sale
15% (37,500,000) – Blocked to be used in the future
18% (45,000,000) – team and Advisors
5% (12,500,000) – Reserved for use in incentivizing the economy / airdrop
1% (2,500,000) – Affiliate and Referral Program
1% (2,500,000) – Bounty Program
Between now and 2020, there are different implementations that the PlayBlok will be able to achieve, and by then, hopefully, the InstaSupply platform will become more stable.
Every good blockchain based system is never complete if it does not have the contributions of its team members. The PayBlok token has the backing of some of the best minds in the business. At the head of the team is Lee Pruit and Tim Huegdon.
Links:
Webstite: https://payblok.instasupply.com/
White Paper: https://assets.ctfassets.net/5vuk877t9hxd/3NAfrZaazmEk6emsaikqiW/87fb62e129789d978720d85d56c49e0e/payblok_whitepaper.pdf
By: tibo