Cryptocurrency

All you need to know about Populous, a leading cryptocurrency

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Populous is a peer-to-peer platform based on blockchain technology, which offers small to medium-scale companies with a convenient way of taking part in invoice financing. This popular cryptocurrency is highly focused on transparency, security, and overall speed, and it uses exclusive smart contracts to pair sellers and lenders to help them perform transactions without the need for intermediaries or other third-parties.

It is a London-based project that is managed by Stephen Williams. Even though he has no big name in the crypto industry, Williams is the founder of Olympus Research; a company specialized in commercial data and enterprise-grade analytics.

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How Populous works :

Populous uses blockchain technology, which is combined with smart contracts, XBRL data and various tokens, including Altman Z-scores. It is a financial tool used to determine multiple risk factors for businesses. For example, it specifies a business’s chances of facing bankruptcy in the following two years, the probability of it failing to meet its contractual obligations, and it provides accurate measurement for financial distress.

Invoice financing is a $3 trillion business with a lot of competition. Everyone from popular companies like Comdata to startups like Fundbox offers invoice financing options. Even PayPal offers PayPal Working Capital, which provides a loan based on previous PayPal sales. Amazon FBA sellers have both Amazon and third-party financing options available too.

The primary goal of this cryptocurrency is to expand invoice financing to a global scale, delivering powerful financial credit options to small or medium enterprises who want to sell invoices a lot faster than ever before. As far as now, Populous is still the only and the first invoice and trade finance platform based on the Ethereum blockchain.

PPT like Poken and PXT is an Ethereum blockchain that can be stored in any wallet, which supports ERC-20 tokens.

The highest peak for PPT was around $73.45 on January 28, 2018. Tokens were given during the Populous ICO on June 24, 2017. The PPT tokens were not released during the ICO were retained by the founding and development team.

PPTs can either be held or used as collateral to invest in Populous invoices. You’re given a set amount of Pokens based on a percentage of market value, in exchange for collateralizing. Presently, it’s the lesser of 50%, or a 30-day market average.

Introduction to Pokens :

Pokens are the in-platform cryptocurrency, which is used to transfer value from invoice buyers and sellers. Pokens are stable coins tied to the equivalent fiat currency value. You can directly purchase Pokens on Populous with four fiat currencies like USD, GBP, EUR, and JPY, in addition to PPT. However, it’s still unclear how many Pokens are available, but because it’s a stable coin, Populous World Ltd needs to have enough fiat currency on hand to back the entire supply.

PPTs can be purchased on Binance, and the others may be purchased directly on the Populous platform. PPT was a significant Populous coin to watch, back then.

How do you use Populous :

Virtually anyone can buy and sell invoices through auctions on Populous. Although, people are first required to register their companies and get approval from a Populous administrator.

The auction immediately ends when a bid matches the sales goal within the designated 24-hour period when the period in question passes, and no proposal meets the sales target, or when users choose to terminate it early. In case of both the options, users can either accept the best deal available or cancel the auction altogether. However, the second option also provides users with the possibility of restarting the sale.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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