[ANN] PayPie - Blockchain-Powered Risk Assessment

[LifeOfDoge]

Yes the application will be very great, credit risk need to be improved by a blockchain, its a huge market and if PAYPIE can offer us a way to manage the enormous amount of data and manage them to have a nice working risk algorithm analysis, the value of PAYPIE will be totaly incredible. Don't forget that bank start to trust in crypto, if the algorithm work very well, maybe bank will need PAYPIE in few years. And if it is true, the value will be so high ...

Agree. Paypie is a great thought and project. Banks and all financial institutions will need them. So, better act sooner than later.

I would not be so sure about banks as those will probably develop their own system, but I can see potential for institutions without developing teams.

[Cauchy]

Is there any commitment from banks, insurerers or etc. to use the data you supply? How is the roadmap for targeting the users and generate Revenue streams? thanks and good luck with the Project.

[niklasmato]

Yes the application will be very great, credit risk need to be improved by a blockchain, its a huge market and if PAYPIE can offer us a way to manage the enormous amount of data and manage them to have a nice working risk algorithm analysis, the value of PAYPIE will be totaly incredible. Don't forget that bank start to trust in crypto, if the algorithm work very well, maybe bank will need PAYPIE in few years. And if it is true, the value will be so high ...

Agree. Paypie is a great thought and project. Banks and all financial institutions will need them. So, better act sooner than later.

I would not be so sure about banks as those will probably develop their own system, but I can see potential for institutions without developing teams.

I think a service like this can be very good for independant money lenders and incasso offices just to name a few. Banks have a central system as far as i know.

[SEELE^^01]

if i compare this to hero token, it is nearly the same on the ground, but not on the surface.

hero token does use the blockchain to, to build up a creditscore and credithistory for the customer, for their pawnshop system and also for the banks out there.

paypie, does the same, from what i read in the whitepaper. just its target are more the business sector.

[the_donald]

I dont see any bonus for early buyer of the coin. Is there any bonus planned and will the presale have several rounds?

I would also like to know this. It's important to incentivize early contributors.

[mexi.db]

PayPie has data better than banks on the financial health of a business which is very valuable for lenders, investors, banks and other financial institutions, auditors, reviewers etc.

Where did you get the "BETTER" data. You still do not have a service. You bought from someone this data?
I just do not understand how you can have better data, banks exist for 20-50-100 years, they have huge amounts of data.

It's true that banks have access to a long history and large amounts of data, but that data may not necessarily be accurate.
PayPie brings transparency to the financials of business by introducing triple entry accounting. Each journal entry and transaction will be hashed and time-stamped on secure blockchain giving PayPie better visibility than banks into the financial health of a business that can be used to make a faster decision on lending. Results are expected to be absolutely accurate one single ledger is in place and there would be no room for manipulation. Besides, PayPie already has a working accounting platform in SlickPie with a growing consumer base, and hence access to data.

They have ready platform before crowdsale? Really? Can you give me link please to their platform. Where they using platform?

Hello, you can check out SlickPie at https://www.slickpie.com

[Piggy]

To prevent defaults, all parties involved will be able to rate each other at the end of the transaction and
this history will be recorded on the immutable Ethereum blockchain to build a Decentralized Trust and
Transparency Rating (DTTR) so that others can make well-informed lending decisions. Smart contracts will
automatically amend each party’s trust rating according to an algorithm after completion of the lending
process.

is there some way to prevent a company making fake transactions with other parties that will just have the purpose to give a positive rating to boost the trust rate?

[ubercool]

To prevent defaults, all parties involved will be able to rate each other at the end of the transaction and
this history will be recorded on the immutable Ethereum blockchain to build a Decentralized Trust and
Transparency Rating (DTTR) so that others can make well-informed lending decisions. Smart contracts will
automatically amend each party’s trust rating according to an algorithm after completion of the lending
process.

is there some way to prevent a company making fake transactions with other parties that will just have the purpose to give a positive rating to boost the trust rate?

This has to be implemented, someone has to authenticate whether it is an actual trust or the companies being mutual towards each other and selling trust. Because we have seen something like this in the past everywhere.

[stormcleric]

I'm concerned about privacy. AFAIK, financial institutions need some kind of legal permission - maybe it's just a protocol - to retrieve a customer's crediticial data. That is - my butcher isn't able to know what lendings do I have, but my bank can ask for that info should I want to open a mortgage.

Then, in order to calculate the risk, you need to collect some data that may not be on the platform.

[ParRus]

found this short review, rather simple explain the concept of PAYPIE, You can watch too:
https://www.youtube.com/watch?v=YC8GozOxmGM

[stormcleric]

found this short review, rather simple explain the concept of PAYPIE, You can watch too:
https://www.youtube.com/watch?v=YC8GozOxmGM

You're always looking for Youtube videos, aren't you? 

Thanks for the contribution anyway!

[yeswepump]

PayPie is the world’s first blockchain accounting platform. The Platform provides real-time credit scores over data based on a single ledger approach comprehending businesses’ all-time historical accounting data to disrupt the credit risk industry.

this is rather important as the economy is becoming more and more globalized. local business information suppliers are already collecting these numbers, it will be great to have a decentralized international structure

[FIEX]

Everyone should check there demo!
Its a very userfriendly platform with a lot of nice features. I've checked it yesterday and I think a lot of small companies will use this.

Great idea to create something like this.
Keep it up

[jukKas]

Hi! This is very interesting project. I think that the accounting in blockchain will be the future.

Is this similar to Fizcal project? They're going to use triple entry accounting. They don't want to use Ethereum due to scalability. How about this project, do you see any issues in Ethereum scalability?

Will be reading the whitepaper later.

[magisterr]

Hi! This is very interesting project. I think that the accounting in blockchain will be the future.

Is this similar to Fizcal project? They're going to use triple entry accounting. They don't want to use Ethereum due to scalability. How about this project, do you see any issues in Ethereum scalability?

Will be reading the whitepaper later.

A lot of project on Ethereum now. And Vitalik working with scalability. So they ll dont have any problem with this I think 

[toolucky98]

I dont see any bonus for early buyer of the coin. Is there any bonus planned and will the presale have several rounds?

I would also like to know this. It's important to incentivize early contributors.

I didnt find explanation about this.
I would like to know too if there might be no pre-sale with bonus? just token crowdsale without bonus?

[Jay2408]

Since accounting is somehow predestined for blockchain technology (or is it the other way round  ), this project looks very promising and helpful from what I read  so far in first pages of White paper. But still have to go through some pages…  a rather complex subject, but concisely and well explained.

[Elkmar]

Ive read the whitepaper and have a question about this project. I understand that Paypie is creating a decentralized accounting platform for business and the target audience for the tokens are on business level (insurers/banks etc.) The tokens are used on this platform if im correct. Does that mean for a normal consumer the tokens are not interesting, because you cannot use it?

The normal consumer will have varied use for the coin but ultimately the service been rendered is suited more for business and bank. Those are the establishment that deals frequently in credit risk management. So it makes sense that they will market to that demographic

The good thing is that banks will and big companies could use the technology, but the bad part, I think, is that you are asking people to buy the tokens, normal people will not have much use of it in anything but dumping and cash out, so perhaps I'm still missing something, the token can have HUGE value, but we need people that REALLY need it for it to be traded, perhaps you could target medium and small companies? that will increase its mass adoption, or maybe I still don't' understand it much, and I'm complaining about nothing, anyway, regardless, this is a VERY interesting project, I really hope you do well.

No, what you say is interesting.

That's the problem with tokens of such specific utilization. But a lot of popular projects on the blockchain have such token, an example would be Stratis, the utilization of the token is very specific, but there is a lot of holders who speculate with it.

If holders are interested in the project and think it has a big potential, they will naturally hold the token, same like holding a share in a compagny.

The problem is more about how to prove that the project is good and has a big potential with the tons of ICO and with a subject like accounting which does not interest a lot of people.

I think the best thing would be to have a partnership with a big company, it would allow the project to gain popularity, it would bring a lot of people.

[stormcleric]

Just my two cents on the whitepaper - at least the first pages. Couldn't you use links to chapters in the table of contents?

BTW I asked about privacy. Just half a sheet in the WP? Really? Nowadays privacy is much more than that, and we're talking about cryptos. We love privacy! This section should be further developed.

[Maxre]

I dont see any bonus for early buyer of the coin. Is there any bonus planned and will the presale have several rounds?

I would also like to know this. It's important to incentivize early contributors.

I didnt find explanation about this.
I would like to know too if there might be no pre-sale with bonus? just token crowdsale without bonus?

is less attractive if there is no bonus before or after the sale
because it is almost 1 month I do not see the clarity of paype this project bonus