[ANN] PayPie - Blockchain-Powered Risk Assessment

[mexi.db]

This project could be good and could be bad, to speak as a baby. It could help the companies to prove they are transparent but it could also help the states to see if everything is going on perfectly well. Anyway, it's stay a brillant idea that could be very usefull but things has to be done correctly.

I really don't see any negative outcome in your message. Any format that keep companies transparent, and hinders the ability to manipulate data will be beneficial to everyone.
 It  will guarantee that government funded incentives is allocated to the companies that actually deserves it. It will stimulate growth by encouraging investors to eagerly buy into a company because the transparency promoted with diminish fraud. So it's a win situation for everyone

Exactly! this is the basic aim of the paypie project. A situation that gives SMEs access to much needed liquidity and funding, and credit risk scoring that enables investor decision making and ensures consistent returns. everybody wins.

By the way, a fun read is get a better grasp of what paypie is trying to accomplish is the Momentum accounting and triple-entry bookkeeping by Yuji Ijiri. Anyone interested in block chain should give it a read at least once

will definitely locate and read as i'm really excited about what paypie is planning to accomplish

[1713883562]

1713883562

[1713883562]

1713883562

[mexi.db]

There are any competitors in sight?

the main competitor is just the old accounting system way of doing thins

Nope, I know that some others companies are thinking about triple entry accounting via the blockchain.

One example is Fizcal 

Yeah, Fizcal seems interesting as well. I've not decided yet which one I'm going to invest. Fizcal says that Ethereum won't be scalable enough for their need, but this project is going to use Ethereum. Would love to know what are PayPie's developers thinking about this? I know blockchain will revolutionalize accounting and if most companies start putting their data to Ethereum chain, this might be a lot of traffic.

However, this project looks a bit more professional to me.

Like I said before in the ANN, but I don't think I had an answer,  I think that the main argument of Paypie is the Credit Risk Algorithm to distinguish themselves from competitor like Fizcal. They really enhance the fact that with the blockchain they'll obtain the most accurate one possible.

And if we're talking about this, I don't know any competitor in the credit risk field using blockchain technology.

Is the credit risk algorithm already done? And more importantly is it proven? Can we see stats that it works, since it seems that this is a key feature of their product.
Is it possible for the devs to make a blog or youtube video about how the algorithm works? I am not technical enough to read a code of it.

I can't find that position on their roadmad but research is done so they should have it, it's a very important part.

According to the PayPie team, "The accounting framework of it is fully built and that’s the most demanding part. Our risk management team is currently working on the risk part and we are getting more and more comfortable with the data that we feed to the risk algorithm. We believe that we will meet the timeline that we have proposed in our whitepaper in advance."

[CHRISBIN702]

You had me at single ledger approach..... But, seeing as how making a decision based on one clever line of text would be irresponsible at best. I took a deeper look into this, overly technical, white paper. It's great to be thorough. My opinion, for what it's worth, is you should stay away from repetitive descriptions and make sure your investors don't need Academic knowledge in Fin-tech. I read white papers every day. It's part of my job. I find it a more enjoyable experience when I want to read through the white paper again, not when I have to, to understand it.

[areschen]

There are any competitors in sight?

the main competitor is just the old accounting system way of doing thins

Nope, I know that some others companies are thinking about triple entry accounting via the blockchain.

One example is Fizcal 

Yeah, Fizcal seems interesting as well. I've not decided yet which one I'm going to invest. Fizcal says that Ethereum won't be scalable enough for their need, but this project is going to use Ethereum. Would love to know what are PayPie's developers thinking about this? I know blockchain will revolutionalize accounting and if most companies start putting their data to Ethereum chain, this might be a lot of traffic.

However, this project looks a bit more professional to me.

Like I said before in the ANN, but I don't think I had an answer,  I think that the main argument of Paypie is the Credit Risk Algorithm to distinguish themselves from competitor like Fizcal. They really enhance the fact that with the blockchain they'll obtain the most accurate one possible.

And if we're talking about this, I don't know any competitor in the credit risk field using blockchain technology.

Is the credit risk algorithm already done? And more importantly is it proven? Can we see stats that it works, since it seems that this is a key feature of their product.
Is it possible for the devs to make a blog or youtube video about how the algorithm works? I am not technical enough to read a code of it.

I can't find that position on their roadmad but research is done so they should have it, it's a very important part.

According to the PayPie team, "The accounting framework of it is fully built and that’s the most demanding part. Our risk management team is currently working on the risk part and we are getting more and more comfortable with the data that we feed to the risk algorithm. We believe that we will meet the timeline that we have proposed in our whitepaper in advance."

Looks have a big dev team have multi stream to develop different part of this big system, looks great, looking forward it

[Piggy]

In how many country is the system compatible by law to operate? I know there could be issue about the nature of the information.

[pynetx]

In many scenarios companies have to prove the viability and legality of their account , register ect.... And it's not always easy to prove all these kind if things but with an infrastructure like PAYPIE it will can become easier.

Agree with you on that but the reliability of the algorithm is still questionable.
They should give some demo of the platform showing it's reliability.

Status and several other ICO'S millions without a working prototype. Been 50% complete is ahead on the game in this space. It would be ideal to have a demo for the public but in the crypto world, things operate a bit differently.

Well, I didn't invest in status and several other million ICOs. I am not asking for a complete platform. Just a demo or demo video would be nice like centra did. Just a showcase video of the working platform.
It helps in gain trust of the people who are not just here for money but for tech also.

[Frickeladm]

In how many country is the system compatible by law to operate? I know there could be issue about the nature of the information.

Really? Which country do you think of where such kind of a system could not be compatible with current law? Pretty every bank i know of is using such a system rright know to determine if a customer is eligible for a credit.

[belechau]

I read the enchanted white paper. work in centralized Accounting and risk prevention is the primary goal in any organization or individual. the decentralization of the segment will bring many benefits and can be replicated in any country. Congratulations on the project. I will be following closely. our investments appreciate the idea

[Voltaje]

There are any competitors in sight?

the main competitor is just the old accounting system way of doing thins

Nope, I know that some others companies are thinking about triple entry accounting via the blockchain.

One example is Fizcal 

Yeah, Fizcal seems interesting as well. I've not decided yet which one I'm going to invest. Fizcal says that Ethereum won't be scalable enough for their need, but this project is going to use Ethereum. Would love to know what are PayPie's developers thinking about this? I know blockchain will revolutionalize accounting and if most companies start putting their data to Ethereum chain, this might be a lot of traffic.

However, this project looks a bit more professional to me.

Like I said before in the ANN, but I don't think I had an answer,  I think that the main argument of Paypie is the Credit Risk Algorithm to distinguish themselves from competitor like Fizcal. They really enhance the fact that with the blockchain they'll obtain the most accurate one possible.

And if we're talking about this, I don't know any competitor in the credit risk field using blockchain technology.

Is the credit risk algorithm already done? And more importantly is it proven? Can we see stats that it works, since it seems that this is a key feature of their product.
Is it possible for the devs to make a blog or youtube video about how the algorithm works? I am not technical enough to read a code of it.

I can't find that position on their roadmad but research is done so they should have it, it's a very important part.

According to the PayPie team, "The accounting framework of it is fully built and that’s the most demanding part. Our risk management team is currently working on the risk part and we are getting more and more comfortable with the data that we feed to the risk algorithm. We believe that we will meet the timeline that we have proposed in our whitepaper in advance."

Looks have a big dev team have multi stream to develop different part of this big system, looks great, looking forward it

The ethereal blockchain may be a little slow now that a LOT of companies are creating ICOs, thus a lot of congestions in transactions are happening, especially during ICOs, but ethereum will solve all of those problems when they go Metropolis, which should occur next year tops, when that happens, the blockchain will be VERY fast and better, so I think they made the right choice about ethereum, they could have used NEM, but NEM doesn't have a solid technology in smart contract yet to create the credit risk algorithm in it, NEM may be faster, but it's still behind if we compare to ethereum, I imagine they already made their investigation to decide which blockchain will meet their needs, so don't worry about it, ethereum is still the king of smart contracts .

[Rune]

Just took a look at this project looks very interesting will keep an eye on this one.
I like that more projects are using Ethereum

[pynetx]

In how many country is the system compatible by law to operate? I know there could be issue about the nature of the information.

Almost every country which exists has this system of credit score. Some of them may call it with different names like in India it's called CIBIL score.

[kkjack789]

Been waiting for this one to get posted!This made me curious to keep following future development anyway.

[paragon07]

done joining to your facebook campaign.

i will use your signature when the campaign will start. thank you.

[mexi.db]

You had me at single ledger approach..... But, seeing as how making a decision based on one clever line of text would be irresponsible at best. I took a deeper look into this, overly technical, white paper. It's great to be thorough. My opinion, for what it's worth, is you should stay away from repetitive descriptions and make sure your investors don't need Academic knowledge in Fin-tech. I read white papers every day. It's part of my job. I find it a more enjoyable experience when I want to read through the white paper again, not when I have to, to understand it.

Thank you Chris for your feedback. the team is well aware of this and is currently working on a better whitepaper and a blog to fix this challenge

[mexi.db]

In many scenarios companies have to prove the viability and legality of their account , register ect.... And it's not always easy to prove all these kind if things but with an infrastructure like PAYPIE it will can become easier.

Agree with you on that but the reliability of the algorithm is still questionable.
They should give some demo of the platform showing it's reliability.

Status and several other ICO'S millions without a working prototype. Been 50% complete is ahead on the game in this space. It would be ideal to have a demo for the public but in the crypto world, things operate a bit differently.

Well, I didn't invest in status and several other million ICOs. I am not asking for a complete platform. Just a demo or demo video would be nice like centra did. Just a showcase video of the working platform.
It helps in gain trust of the people who are not just here for money but for tech also.

The entire PayPie platform isn't complete yet. But you can watch the explainer video on the site https://www.paypie.com/
You can also try out Slickpie which is Paypie's core accounting platform at https://www.slickpie.com/

[Jay2408]

I am not so good with this extrem technical stuff, but I have a question about your project.

You stated that the PPPs are used for accessing the PayPie Platform, paying on the Marketplace etc. These are currently options just for the interest of companies, which need to wage the risk of their clients. Will there be a field of application for normal user like me? Or is the "only" value for individuels the potential value rise?

Wish you good luck with the project

same here but  i think this is a good sign this means they have a qualified team and thought about their project not like some other   ico's where i read it: and i'm like wth? not because i can't understand but because of wtf why or just lol

The field of application for regular PPP token holders like you is that you'll be able to participate in the PayPie pool. The pool will buy invoices at a discounted rate & provide SME with the money within 24 hours while waiting for the customer to pay the pool original amount as per the term sheet. Once the lending process is complete, the original amount you invested is returned to you + net profit.

What will be the approx. discount rate? Is it fixed? Or depending on e.g. credit score, etc.? 

[Islapdonkey]

In how many country is the system compatible by law to operate? I know there could be issue about the nature of the information.

Almost every country which exists has this system of credit score. Some of them may call it with different names like in India it's called CIBIL score.

Well, that the interesting aspect about blockchain decentralization. It's breaks down borders and creates a cohesive marketplace. So for example, a company/individual in India could easily apply for a loan with a company based in Canada and since their credit worthiness is easily verified with Paypie, there won't be any restriction due to differing locale regulations.

[the_donald]

Project looks interesting and it was only a matter of time till someone brings the benefits of the blockchain in use. I'm just not 100% sure why a PPP token is needed. Wouldn't it be possible to access the PayPie platform by just paying for it (with BTC for example)?

PPP tokens will be required to interact with the smart contracts on which the PayPie platform will be built. PPP Token is the utility token which provides access to the PayPie platform for certain transactions and services. Each PPP Token grants the holder the right to access certain services including the purchase of invoices and access to credit histories of SMEs.

What happens with the tokens spent to access the platform? Does the company keep them? Resell them?

[windreamteam]

PayPie is creating the first decentralized accounting platform for businesses that will provide real-time
insight into financial data to achieve 100% accuracy for a credit risk algorithm. This analysis will be
conducted using a single ledger approach and will consider businesses’ all-time historical financial data to
safeguard and transform the way credit risk is assessed by lenders, investors, banks and other financial
institutions while building a blockchain-backed accounting ecosystem. It will change the way to lend and give equal luck for persons.

[pynetx]

Project looks interesting and it was only a matter of time till someone brings the benefits of the blockchain in use. I'm just not 100% sure why a PPP token is needed. Wouldn't it be possible to access the PayPie platform by just paying for it (with BTC for example)?

PPP tokens will be required to interact with the smart contracts on which the PayPie platform will be built. PPP Token is the utility token which provides access to the PayPie platform for certain transactions and services. Each PPP Token grants the holder the right to access certain services including the purchase of invoices and access to credit histories of SMEs.

What happens with the tokens spent to access the platform? Does the company keep them? Resell them?

What happens to the money you give a shopkeeper when you buy goods? The same thing will happen here.