[ANN] PayPie - Blockchain-Powered Risk Assessment

[the_donald]

Well, I can imagine not everybody is going to be happy the way this is going. I mean obviously there's still a big need for cheating the books

But seriously, yeah, disincentivizing fraud is going to be best for everyone in the long run, including the business itself.

A good accountant can always find ways to cook the books. Accounting systems are nothing new and none have made a dent in false reporting.

[toolucky98]

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.

Blockchain in an accounting software brings better visibility into the actual incomes and expenses of business thus reducing risk to lenders.  

[magisterr]

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

[abigdump]

Somebody metioned a video on paypie cant find a link in the ann anywhere or link to a web site could sombody please post them thanks in advance

[Jay2408]

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

I think they don't have a demo-platform yet. But you can check their accounting software here: https://www.slickpie.com

[stormcleric]

Looks like a project with potential. Unfortunately i dont know much about risk analysis but thats the beauty of crypto world. One idea unites us to learn about new fields, businesses, concepts, etc.
I assume when the platform will be ready in 2018, it will be translated to other languages and become international. 

Well, risk analisys explained in short: when you want a credit, a loan, a mortgage or similar, a company rates the chances of you being able to actually pay for it. In order to do that calculation, the business you're dealing with will query PayPie - so they decide to work with you or not. The parameters needed should include your incomes, your current loans and similar data.

[toolucky98]

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

I think they don't have a demo-platform yet. But you can check their accounting software here: https://www.slickpie.com

This slickpie is their project? slickpie is owned by paypie team?

White paper :
11 Team
SlickPie employs an international team with vision, ability, innovative thinking, openness, management skills, marketing knowledge, and developers coming from various backgrounds from IT, accounting, finance, blockchain, and more. Complete profile of the team is available at http://www.paypie.com .

Maybe this is a noob question, i just want to know.

[Rigorous]

Well, I can imagine not everybody is going to be happy the way this is going. I mean obviously there's still a big need for cheating the books

But seriously, yeah, disincentivizing fraud is going to be best for everyone in the long run, including the business itself.

A good accountant can always find ways to cook the books. Accounting systems are nothing new and none have made a dent in false reporting.

I'm thinking about the long term. If blockchain accounting becomes mandatory in the future and all businesses have to be connected, there's less opportunity to fraud. For example, it won't be possible to move expenditure to a different time period for tax benefits or deceiving stockholders unless both parties agree to fraud.

Although I agree there will probably be new ways to cheat.

[milenium]

Well, I just finished reading the whitepaper.

In my opinion, everything is well explained, even if it's not the easiest subject to read.

If I compare to other project related to accounting, you seem to focus on your algorithm to assess credit-risk as the main interesting feature, and I think that could interest a lot of companies.

Triple entry accounting is interesting too, but I think a lot of accounting companies will begin to develop software using the blockchain like Fizcal.

Good luck for your project  

Blockchain technology quite relevant to the accounting and auditing industry and PayPie will have a first-mover advantage in this regard. With the solid team and plan, I see this project going far.

Wow. You have now explained to me better than the developer of this platform.
Let's see how the project will develop.

[matjas]

Looks like a project with potential. Unfortunately i dont know much about risk analysis but thats the beauty of crypto world. One idea unites us to learn about new fields, businesses, concepts, etc.
I assume when the platform will be ready in 2018, it will be translated to other languages and become international. 

Well, risk analisys explained in short: when you want a credit, a loan, a mortgage or similar, a company rates the chances of you being able to actually pay for it. In order to do that calculation, the business you're dealing with will query PayPie - so they decide to work with you or not. The parameters needed should include your incomes, your current loans and similar data.

But if i understand correctly, PayPie team wont audit you, they are just offering a platform where those information's will be put together and analyzed by somebody else.

[Jay2408]

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

I think they don't have a demo-platform yet. But you can check their accounting software here: https://www.slickpie.com

This slickpie is their project? slickpie is owned by paypie team?

White paper :
11 Team
SlickPie employs an international team with vision, ability, innovative thinking, openness, management skills, marketing knowledge, and developers coming from various backgrounds from IT, accounting, finance, blockchain, and more. Complete profile of the team is available at http://www.paypie.com .

Maybe this is a noob question, i just want to know.

I'm not sure if it shouldn't read 'Paypie' employs ....  , but their WP isn't the final copy anyway.

Slickpie is a free accounting software which apparently will later be integrated in the Paypie platform.

[magisterr]

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

I think they don't have a demo-platform yet. But you can check their accounting software here: https://www.slickpie.com

thank you, ill trying this.
When they want to launch plantform?

[nelson4lov]

This slickpie is their project? slickpie is owned by paypie team?

White paper :
11 Team
SlickPie employs an international team with vision, ability, innovative thinking, openness, management skills, marketing knowledge, and developers coming from various backgrounds from IT, accounting, finance, blockchain, and more. Complete profile of the team is available at http://www.paypie.com .

Maybe this is a noob question, i just want to know.

Hello @toolucky98. You're not mistaken.  SlickPie is a subsidiary of PayPie platform and will be integrated into PayPie when the platform becomes operational.

~Snipped~
thank you, ill trying this.
When they want to launch plantform?

The Paypie platform is scheduled to be launch between March — April 2018 along with real time Credit risk analysis

[Islapdonkey]

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.

So I have a little time on my hand so I will reply to few posts relayed on this thread to the best of my ability. Anyway to the poster above, am glad that you find the project interesting, but expanding on your analogy that the token will have little use if the product is not strictly marketed to the common user, I disagree cos it's similar to stating that the Experian plc stock I own has no value cos the need for credit management is usually attributed to companies and banks

[Islapdonkey]

Looks like a project with potential. Unfortunately i dont know much about risk analysis but thats the beauty of crypto world. One idea unites us to learn about new fields, businesses, concepts, etc.
I assume when the platform will be ready in 2018, it will be translated to other languages and become international. 

Well, risk analisys explained in short: when you want a credit, a loan, a mortgage or similar, a company rates the chances of you being able to actually pay for it. In order to do that calculation, the business you're dealing with will query PayPie - so they decide to work with you or not. The parameters needed should include your incomes, your current loans and similar data.

But if i understand correctly, PayPie team wont audit you, they are just offering a platform where those information's will be put together and analyzed by somebody else.

It will be hard for a company to issue an audit, cos applicable item varies on a wide range. it's akin to expecting turbo tax to issue audit. an item applicable to one individual might be null for the next individual, so an audit is best reserved for a governmental body that has the final say.

[Trrrt]

Yes paypie will offer a platform to analyse a huge amount of data, then you will be able to audit a risk of different kind of things. For exemple the audit of credit wich is a very good market, will be a target market of PAYPIE, with a lot of data aggregate the algorithm can perform a very good analyse and give you an accurate vision of your risk. Its really a huge market and it need a huge amount of data.

[Rigorous]

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?

[Islapdonkey]

Yes paypie will offer a platform to analyse a huge amount of data, then you will be able to audit a risk of different kind of things. For exemple the audit of credit wich is a very good market, will be a target market of PAYPIE, with a lot of data aggregate the algorithm can perform a very good analyse and give you an accurate vision of your risk. Its really a huge market and it need a huge amount of data.

Oh God! you are so right Captain Obvious.

[greatteager]

Tell me more detail how will the financial report and audit be conducted and about credit services for banks, financial institutions, investors?

[hackis]

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.