Introduction
There is an interesting ICO scheduled to start on October 15th, 2017: PayPie. The project’s whitepaper can be found at https://www.paypie.com/Content/files/PayPie-Whitepaper.pdf. Its 23 pages are simply a must read document for everyone interested in participating into the crowdsale of PPP Tokens.
For those of you who have not made up your mind yet about reading the whole whitepaper or not, I will present a short, straight to the point analysis of this project. First of all, you need to know that PayPie is a decentralized accounting platform. Many possibilities will emerge out of it, as summed up in the following sections.
You can see in the image below how PayPie can be useful in giving accurate, timestamped, tamper-proof information about all transactions.
In this example, a single transaction is made: Company A buy something from Company B. There are several opportunities: the buyer may need credit in order to buy the goods, the supplier may need credit to produce the goods, there may be a need for insurance and the invoice could be discounted by a invoice factoring company. All of these players may use good quality information provided by an integrated blockchain between Companies A and B. As a matter of fact, double-spending of such invoices (or even double-usage for guarantees interests) would be made impossible.
Opportunities in detail
On the following sections, I will quickly summarize PayPie's potential of generating income.
Credit risk assessment
One of them is credit risk assessment based on immutable and transparent data about the company’s transactions. Several parties will make use of PPP tokens: lenders such as banks or other companies, insurance companies or by invoice factoring companies to buy such assessments.
Credit opportunities and invoice factoring
Another use cases are credit itself and invoice factoring, which is generally referrred to as a kind of credit. For example, transactions will be registered in the ledger and will make possible invoice factoring. What is key here is the fact that such invoices are acknowledged by both parties, both the buyer and the seller (as long as both companies use PayPie’s decentralized accounting platform).
Live financial audits
The double entry system solved the problem of companies knowing whether they could trust their books. Nevertheless, frauds unfortunately happen, which leads to the necessity of financial audits to win the confidence of outsiders. They verify the company’s financial information (balance sheet, income statement, cash flow statement, etc.). Any bank requests such audits, which can easily reach $100k for medium-sized companies.
The PPP token
Regardless of how good a project is, remember you are buying a token, not a share of the project. So you need to know what the purpose of the token is and, most importantly, its real value.
What is the PPP token?
PPP Tokens will be based on Ethereum ERC20 standard, a blockchain-based distributed computing platform. PPP Token is just like an app token, not a dividend earning token (it is not a security). It is the utility token which provides access to the PayPie platform for certain transactions and services. Each PPP Token will grant the holder the right to access services including the purchase of invoices and access to credit histories of SMEs.
How to participate of the token sale?
If you are interested in buying PPP Tokens on October 15th, please read the whitepaper carefully. All details regarding the token sales can be found at the official website https://www.paypie.com and the official channels (you can find the list in the website).
Feel free to contact me here of at bitcointalk for more information: https://bitcointalk.org/index.php?action=profile;u=889769
Thank you very much. Great text! I definitely got to read the whitepaper. This is so futuristic
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