The influence of blockchain for innovation
Since the release of Blockchain technology in January 2009, it has proved its immutable ability to secure data and transactions which are delivered through it. Fast-forward to today, Ethereum and its related smart contract protocols have been released. This reduces the resource and financial restrictions which were normally put on any organisation who aimed to build away from Bitcoin, and on to their own block chain.
In the case of Populous World, smart contract capabilities have served as extremely useful components and has delivered innovation for the block chain project.
By way of an example, Populous World is able to; release tokens, provide invoice discounting services, release a decentralised exchange and furthermore, permanently store business data on the block chain, without the need to actually build their own block chain or hire additional developers to manage these projects and protocols.
Security, transparency, immutability
Diving deeper into invoice financing, utilising block chain technology allows Populous World to keep ledger of all the invoices which have been financed via the block chain, which can then be used by other invoice financing companies before making a decision, to see if a particular invoice has already been financed. Since start-ups, entrepreneurs, and small business owners have experienced highly challenging barriers to borrow capital from traditional lending platforms, Populous World’s invoice discounting method poises a suitable funding solution for SMEs.
Furthermore, Populous World is one of the few companies accepting cryptocurrency related payments to fund invoices, which allows the fin tech-based platform to perform interesting twists on how these processes usually work.
For example, the invoice discounting platform allows an individual or group to participate in a bidding auction, to place bids on invoices, allowing the sellers to obtain the most competitive offer on the market.
Block chain technology opens the doors for everyone to participate in an alternative finance marketplace. In the past, financing was only available through banks and financial institutions which have high fees and other barriers to entry. Block chain financial technology opens the marketplace for all investors and all invoice sellers to work together for mutual benefit by removing these barriers.
Moreover, thanks to the block chain, Populous World is able to deliver the best service to invoice buyers and sellers, securing the safety of the process, the speed of transactions and cost effective solutions.
To conclude, thanks to the smart contracts and the block chain technology, Populous World have created an innovative method to facilitate invoice financing in a P2P (peer-to-peer) manner.
Lou Chan, Populous World
