What is Populous?
Populous is a peer-to-peer (P2P) platform that was created in June 2017 by an English team led by Stephen Williams.
It uses blockchain technology to provide small and medium-sized enterprises (SMEs) with a more efficient means of financing bills.
Be aware that late bill payments cost small businesses billions of dollars each year in fees.
With Populous, companies can sell unpaid bills at a discounted price to quickly release money. The investor who buys the bill actually takes over and receives the money when the customer pays.
For example, Populous uses blockchain technology, XBRL data, and the Altman Z-score formula to extend global bill financing and create an improved system.
The team of Populous
The Populous team is a small, fairly secretive team based in London.
Stephen Williams is its founder and leader. He also founded Olympus Research.
Jahi Grant is the communication officer for the team.
Zvezdomir Zlatinov is the developer.
Jason Tuang is the financial consultant.
Jonathan Pillards deals with the risk financing of invoices.
As for John Morton, he is the IOC.
To remedy this problem, several solutions are available to cryptocurrencies.
How it works ?
To understand how Populous works, let’s take an example:
Michel has a business in France.
When he sells a product to a customer, he gives him an invoice. This invoice will be the official document asking the customer for payment within a specified period.
But sometimes the bills are not honored on time. This will cause Michel a period of unavailability of liquidity during a certain period.
How will Michel pay for his employees, his suppliers and all his expenses during this period?
Normally, he should turn to a bank or financial institution to apply for a loan. But it takes time and has a high cost besides it will require guarantees from him.
In fact, that’s when Populous comes in.
Investors from all over the world will be able to lend Michel’s company the amount required, almost immediately.
Invoices will be auctioned at a reduced price, and buyers will be able to outbid other buyers to pay those bills. Moreover this process does not involve any third parties such as banks or other.
Finally, the buyer will receive his money when the customer has paid his bill.
For Michel, here is the procedure to follow to sell his bills:
First, he will have to register, so that Populous examines his bill and approves it.
From this moment, the auction will begin and will last 24 hours.
Michel will then have the choice either to accept the best offer, cancel the auction, or start over again.
Finally, if Michel accepts an offer, he will receive the funds from the buyer in the form of Pokens which is the crypto currency of Populous. It should be noted that these Pokens are worth 1 to 1 with the Fiduciary currencies. That is, for example, 20 Pokens will be equivalent to 20 Euro.
After that, Michel will be able to exchange his Pokens against the currency of his choice.
As a result, he will have the cash he needed, quickly and cheaply.
As for the buyers, they act like a bank whose customers are the companies.
Why Should I Invest in Populous?
Buying or investing in any cryptocurrency carries risks since the entire market is not regulated. Because of this, the market is extremely unstable and volatile. Still, Populous and its concept have the potential to be a lucrative investment. Here are a few good reasons to invest:
- The service provided – The possibility for SMEs to regain some liquid cash flow and sell off their unpaid invoices. SMEs can use the auction as a tool and opt for the buyer offering the highest price.
- Financing a project quickly, without a loan – Instead of acquiring a personal loan, developers can acquire funding by buying customer debts that are auctioned off.
- A deflationist PPT – During the ICO in July 2017, a total of 53,000,000 were issued. The developers plan to eventually reduce this number, causing a spike in value for the PPT tokens.
So, is Populous a profitable cryptocurrency?
Populous is a cryptocurrency that is not part of any ultra-competitive markets such as Bitcoin with its thousands of Forks. And, by ranking as one of the top 30 cryptocurrencies, Populous has made itself not only a major player but also a leader in the industry. Buying Populous seems to be an investment in one’s own future.
Companies Who Use Populous
The innovation that Populous brings to the table comes in response to an unsatisfied market. Back in September 2017, the English exchange platform signed a $1 billion-dollar deal with Luxure Global Citizen, a company sells luxury products around the world.
Luxure has a clientele of roughly 750,00 customers who buy their products from nearly 300 different brand names. On the list are some big names like Rolls Royce and Cartier. Steven Williams, the founder of Populous, recently made a statement about the partnership and said, “This deal represents an important milestone for Populous and all those who hold PPT. Investors will now have access to first-rate bills, which they can then use to invest and earn a profit.”
First, Populous is a combination of Ethereum Blockchains and RSK.
In addition, it relies on XBRL technology, smart contracts, Stable tokens and the Altman z-score formula. With these technologies, it creates a trading environment for investors and bill sellers around the world.
Three technologies are the basis of the system: banking, auctions and external tokens.
The bank manages the internal book for all accounts. It also manages connections between internal Ledgers and external tokens.
The platform manages the auctions. Investors can outbid individually or band together to bid.
The bid module is connected to the IPFS Distributed Web Site.
Tokens are based on the ERC 20 standard.
Thanks to smart contracts, customers can withdraw their funds outside the platform. This allows them to access their tokens completely independently.
Populous, Pokens and PPT
Populous issues two kinds of cryptocurrency that should not be confused.
Pokens that serve, as we have seen, to buy bills and get cash.
While the PPT, is the token that has been distributed for the Populous ICO and is mainly used as an investment vehicle.
They are integrated into the platform and have a utility, which is not always the case for tokens.
53 million PPTs must be put into circulation. 37 million have already been issued.
Today (February 2018) PPT’s market capitalization is $ 1.7 billion and its price is trading around $ 32.
PPTs can also be used to invest in invoices. If you use them for this purpose, they will be put in guarantee for the investment. In return, you will receive Pokens. Once the invoice is refunded, you will receive the Pokens benefit and your original PPT investment.
How to buy PPT?
You can not buy PPTs on simple exchanges.
You have to, like for many other Altcoins, go through bitcoin.
To do this, you can use for example platforms like Binance, Coinbase, Cexio or Changelly.
But PPT is mainly traded on EtherDelta which is a somewhat complicated platform to use for beginners.
If you want to keep PPTs in a wallet, you can use MetaMask or MyEtherWallet.
You can also use hardware portfolios such as Trezor or Ledger Nano S.
The Populous platform should also soon offer a portfolio for PPTs.
The Evolution of Populous
Just days after the ICO, PPT coins started their steady progression towards a higher value. Still, between August and October of 2017, this growth was not exactly regular. In fact, as of August 28th, 2017, a PPT was worth $3.80, which then dropped to $2.99 by September 18th. Then, throughout October, it managed to climb its way back up to about $3.50
Then, in November, the progression started to gain momentum and by the end of the month, Populous had increased its value to an astounding $9.07 per unit. By December 11th, 2017, Populous was trading at $27.38, which is three times as much as the previous month. As of January 23rd, 2018, Populous, again had tripled its value and was trading at $43.31.
Populous is for three types of people:
Companies that are tired of waiting to pay their bills.
People who want to download the bills and pay them within 24 hours.
People who want to have quick access to money by selling their bills.
This industry already exists on the internet where it thrives.
In sum, Populous has adapted the Blockchain technology to invoice sales, facilitating international transactions. It has made them faster, cheaper and in a decentralized and transparent market.
Populous has already 3 million companies in its database.
As for its crypto currency, PPT, it allows its holders to reap profits only by owning them.
Since it is relatively new, it is difficult to predict its future.
But it offers services powerful enough to be interested in it.