Populous is a global, peer-to-peer (P2P) platform that uses a blockchain protocol to provide small and medium-sized enterprises (SMEs) a trading platform for invoice finance.
Populous cryptocurrency (PPT) is used for investing in invoices through Liquidity Pools.
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Read on to learn everything you need to know about the Populous protocol and the PPT token.
What Is Populous
Populous is a P2P invoice platform that uses blockchain technology and smart contracts to provide SMEs with a more efficient way to participate in invoice financing.
Populous aims to reduce the need for third parties in invoice transactions and allow enterprise owners to receive up to 90 days of invoice liquidity. The goal of Populous is to help businesses secure cash flow quickly and efficiently by connecting invoice buyers directly to invoice sellers. Sellers can sell their outstanding invoices at a discount to quickly free up some cash through the Populous platform. Buyers who provide short-term liquidity and compete to fund an invoice seller take it over and receive the money when the client pays.
Populous uses blockchain's distributed ledger technology, XBRL data, and the Altman Z-score formula to expand invoice financing globally and create an overall improved system.
Populous Founders
The Populous team is headquartered in London. Populous was founded in 2017 by two twin brothers from South London, Steve and Sam Williams. Steve Williams graduated from London Metropolitan University and is the CEO of Populous, and Sam Williams is also the founder of The Trend View and Zloadr.
In his interviews with the British daily Evening Standard and the Metro newspaper, Steve Williams described the obstacles he and Sam faced growing up.
"It was very difficult in terms of gang violence," Steve explained. "You had no choice: you either got bullied, or you pretended to be part of one of the gangs to safeguard yourself."
Steve reportedly served 18 months of a three-and-a-half-year prison sentence in 2008 after he was found guilty of fraud – dishonestly receiving funds.
He described it as a major wake-up call to turn his life around and work hard to achieve a good life for himself and his family. Steve also decided to give back by helping youths on the streets and those involved in street crime.
How Does PPT Work
Populous aims to create a global invoice market by connecting business owners with invoice buyers worldwide. Invoice finance is a form of funding that allows buyers to buy invoices at a discounted rate to unlock their cash instantly. Once invoices are paid by invoice debtors, invoice buyers receive the amount previously agreed upon.
Populous uses the Altman Z-score formula on real-time XBRL data to analyze the credit risk of invoices. The Altman Z-score Formula determines whether the administrator rejects or approves the invoice sales inquiry. It's a financial modeling tool that determines three risk factors:
- Probability a business will be bankrupt within two years
- Whether the business will default on obligations
- Control measure for financial distress.
The invoice auction begins once your invoice is approved, and it lasts for 24 hours. Upon successful completion of an auction, the seller receives the funds from the buyer in the form of Pokens, the digital currency within the Populous platform. Each Poken is pegged directly to the equivalent amount of fiat currency, and sellers can then exchange these for fiat currency if they wish.
To offer funds to invoice sellers, Populous maintains a Liquidity Pool that is tied in with the Populous cryptocurrency (PPT). When you invest in an invoice using PPT, your tokens are used as collateral for the investment. In exchange, you receive Pokens, which Populous automatically uses to buy the invoice. Once the invoice is repaid, you receive the Pokens profit and your original PPT investment.
PPT tokens were distributed during the Populous Initial Coin Offering. Only about 53 million PPT will ever be in circulation.
To buy invoices, you also need to get approval from the administrator and provide KYC information.
Where Can You Buy PPT
PPT can be traded on several cryptocurrency exchanges, including:
- Binance
- OKEx
- Bitrue
- Mercatox
- ProBit Exchange.
