[ANN] PayPie - Blockchain-Powered Risk Assessment

[Palakka]

Where I can find demo-platform? cant find.. I see only demo-video. Can anyone give me link to their platform, please?

The platform is not ready yet,  it will be release if the ico is over
You can check roadmap in OP.  Seems  accounting platform Is very nice

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[T.Stuart]

It is precisely for such areas of activity that the blockchain is most needed. Project is necessary and relevant

[Korsakopf]

That whitepaper is a real brain breaker. Where i live credit scores aren't really a (big) thing, but from i guess in countries like the USA it is very important. Seems like a good concept and if they really are the first in the sector, that;s a bit plus.

[kraterion]

I'm reading whitepaper and holy **** it's a bit too technical for me (and I guess for many other people too).
Someone can ELI5 to me what is an "accurate risk score algorithm" ?

[greatteager]

What advantages and opportunities will be available in the insurance industry? Insurers will be able to sell insurance products to businesses and entrepreneurs?

[Korsakopf]

I'm reading whitepaper and holy **** it's a bit too technical for me (and I guess for many other people too).
Someone can ELI5 to me what is an "accurate risk score algorithm" ?

It is a way to calculate somebody's credit score. The credit score you have influences for instance if you want to get a mortgage. And most companies base your credit score on inaccurate data. Having a algorithm that can give an accurate credit score is important for consumers, but also very important for companies.

[Elkmar]

One threat I could see is that (small) businesses don't want to adopt blockchain accounting, because they are afraid opening their books to prying eyes may harm their business. For example, if a retailer publishes their suppliers and wholesale prices, the competition may undercut them. Information about relations and prices may be invaluable, why give it away for free? To what degree will anonymization alleviate that threat while not hampering the feature set?

Blockchains can always be made fully anonymous, just like with Monero. The whitepaper says that they be able to anonymize financial data but it depends to which degree they will be anonymous.

I never thought about that, but I don't think that triple entry accounting enable access to the blockchain ledger to everybody. I think that putting the data into the blockchain is just a way to prevent any falsification or deleting data.

[greatteager]

In our time, almost everyone carries out risk assessments, what are the advantages and accuracy of you?

[kraterion]

I'm reading whitepaper and holy **** it's a bit too technical for me (and I guess for many other people too).
Someone can ELI5 to me what is an "accurate risk score algorithm" ?

It is a way to calculate somebody's credit score. The credit score you have influences for instance if you want to get a mortgage. And most companies base your credit score on inaccurate data. Having a algorithm that can give an accurate credit score is important for consumers, but also very important for companies.

oh I see, and why they need a new token for that? Or they want to deploy their own blockchain and their own paypieVM ?

[Jay2408]

I'm reading whitepaper and holy **** it's a bit too technical for me (and I guess for many other people too).
Someone can ELI5 to me what is an "accurate risk score algorithm" ?

It is a way to calculate somebody's credit score. The credit score you have influences for instance if you want to get a mortgage. And most companies base your credit score on inaccurate data. Having a algorithm that can give an accurate credit score is important for consumers, but also very important for companies.

oh I see, and why they need a new token for that? Or they want to deploy their own blockchain and their own paypieVM ?

As I understood it, with the PPL token you pay for getting access to the financial data, credit histories, etc. of SMEs and they can be used for trading invoices. 

[niklasmato]

About the risk analysis ， is it use big data ？ but i dont know the relationship with blockchain

Yes it will use big data which resides inside the blockchain. Furthermore,the blockchain will be the immutable ledger for every transaction which occured in a company and is not in any way controlled by anyone as it is decentralized.

So if i understandit correctly, the blockchain that will be used will be the Ethereum one? Or do you plan making your own distributed blockchain?

[Smyak]

Do you have any public demo of your "Over 50% of the platform is already built" ?

[Elkmar]

Do you have any public demo of your "Over 50% of the platform is already built" ?

They had a previous platform : https://www.slickpie.com/ with a growing base of customer

It gives them financial data and I think it will be used as a base for the platform they develop.

[Heimer]

That whitepaper is a real brain breaker. Where i live credit scores aren't really a (big) thing, but from i guess in countries like the USA it is very important. Seems like a good concept and if they really are the first in the sector, that;s a bit plus.

Can I ask where do you live? As far as I know credit scores are always something very important. Paypie concepts is very good and investing in it can provide nice return 

[FIEX]

The whitepaper is very technical.
Not easy for everyone to understand all this.

Why not make a video where everything is explained how things will work. Let us see the platform.
This will attract more investors and thats what this project needs!

[Korsakopf]

That whitepaper is a real brain breaker. Where i live credit scores aren't really a (big) thing, but from i guess in countries like the USA it is very important. Seems like a good concept and if they really are the first in the sector, that;s a bit plus.

Can I ask where do you live? As far as I know credit scores are always something very important. Paypie concepts is very good and investing in it can provide nice return 

Netherlands. Maybe its cuz i never use credit cards  Of course for buying a house they will check your income, but other then that i've never had any company ask/mention my credit score.

[onlytemporary]

Does Paypie plan on expanding into the personal level credit risk analysis? I haven't seen this answered in the thread. Right now, it seems to be fully focused on B to B.

Seems like a great group of developers, experts and advisory council. Will keep an eye on this for sure.

[bitsurfer2014]

One threat I could see is that (small) businesses don't want to adopt blockchain accounting, because they are afraid opening their books to prying eyes may harm their business. For example, if a retailer publishes their suppliers and wholesale prices, the competition may undercut them. Information about relations and prices may be invaluable, why give it away for free? To what degree will anonymization alleviate that threat while not hampering the feature set?

PAYPIE platform offers privacy protection mechanism as every transactions are encrypted and only important data are published. On the other hand, access to detailed financial data  can only be granted by the company to lenders, auditors, regulators and managers as the need arises.

[Wapinter]

You can join Paypie official slack channel and ask any question to Paypie team members if you want quick reply

[windreamteam]

We know that most of companies are legit, so this kind of service that PAYPIE provides could help them to show that their company is clear and transparent but more interesting they will also be able to show everything if they wanna sell their company. A very good idea that is good for companies.