[ANN] PayPie - Blockchain-Powered Risk Assessment

[SzeChun]

This project is good for bank to check company finance. Government will love this project too.

But many company have a bad business results will not like it. Think about when they need loan money from bank. In traditional way they will make a fake accounting balance sheet.

So let these company die... It's make world better. no more bad debt for bank.

In my country. Some small bank still give weak company loan. Because some bank worker need to reach their target. So they help weak company make fake finance data to have accept from bank.

[Jay2408]

This project is good for bank to check company finance. Government will love this project too.

But many company have a bad business results will not like it. Think about when they need loan money from bank. In traditional way they will make a fake accounting balance sheet.

So let these company die... It's make world better. no more bad debt for bank.

Often esp. small companies just need some short-term credit to bridge a liquidity shortage while waiting for their invoices getting paid. In this case a project like Paypie could really help these companies in purchasing these invoices and provide them quickly with money.

[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?

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

I though so, was just wandering if there's a deflationary feature in this token.

[levyashin]

I thing they are going to sell them. If they burn them there won't be any coin on the market. If they hold them, they will get bankrupt because they won't earn any money at the end.

[bitsurfer2014]

This project is good for bank to check company finance. Government will love this project too.

But many company have a bad business results will not like it. Think about when they need loan money from bank. In traditional way they will make a fake accounting balance sheet.

Conversely, many company also are doing good but they need additional funding to expand and grow their business, then they can utilize PAYPIE's platform
so that they can obtain a good credit standing from their potential creditors.

[Sozialtourist]

This project is good for bank to check company finance. Government will love this project too.

But many company have a bad business results will not like it. Think about when they need loan money from bank. In traditional way they will make a fake accounting balance sheet.

Conversely, many company also are doing good but they need additional funding to expand and grow their business, then they can utilize PAYPIE's platform
so that they can obtain a good credit standing from their potential creditors.

This. Especially when a business needs an interim credit as soon as possible (for example to finish an order), I can imagine fast, even real-time, credit scoring like PAYPIE offers is a great thing. So creditors can help out.

[sarriyan]

This project is good for bank to check company finance. Government will love this project too.

But many company have a bad business results will not like it. Think about when they need loan money from bank. In traditional way they will make a fake accounting balance sheet.

Conversely, many company also are doing good but they need additional funding to expand and grow their business, then they can utilize PAYPIE's platform
so that they can obtain a good credit standing from their potential creditors.

Agree! and think more about future. My company can get money from a bank in other country just by prove My company finance on Paypie platform.

[matjas]

So you will need Paypie tokens to access different aspects of platform. Will you be able to buy your tokens directly in the platform with fiat, or you will need to transfer it from some exchange?

[FIEX]

So you will need Paypie tokens to access different aspects of platform. Will you be able to buy your tokens directly in the platform with fiat, or you will need to transfer it from some exchange?

There will be an option to buy from the platform.
This platform is also for people who arent in the cryptoworld.

[toolucky98]

I though so, was just wandering if there's a deflationary feature in this token.

I thing they are going to sell them. If they burn them there won't be any coin on the market. If they hold them, they will get bankrupt because they won't earn any money at the end.

Im not sure but i think they wont burn the token, instead they will add some additional tokens just for some reasons.
Whitepaper :
Token Supply: 110,000,000 PPP tokens are available for distribution. Only 82,500,000 PPP are for sale to contributors. Rest 27,500,000 are for the team, advisors, bounties etc. Additional 55,000,000 PPP tokens will be generated and kept as reserve for one year solely to develop partnerships and future acquisitions to become a dominant market leader.

[no-ice-please]

How will this project actually get off the ground? You are targeting the SME space, but the SME space isn't actually the space that is most eager to adopt blockchain technology. If you want to provide a 100% accurate risk assessment, you need a 100% transparent picture of the company. And therefore you need 100% of all assets and liabilities being accessible for you. And therefore you need a double layer accounting system with a data feed infrastructure between the double entry and the triple entry layer. And that again is adding complexity in the first place, which many of those companies will not want. Are you actually targeting companies that are about to be newly incepted or established companies that you want to get to transfer their double entry data into triple entry accounting infrastructure?

[bitsurfer2014]

This project is good for bank to check company finance. Government will love this project too.

But many company have a bad business results will not like it. Think about when they need loan money from bank. In traditional way they will make a fake accounting balance sheet.

Conversely, many company also are doing good but they need additional funding to expand and grow their business, then they can utilize PAYPIE's platform
so that they can obtain a good credit standing from their potential creditors.

Agree! and think more about future. My company can get money from a bank in other country just by prove My company finance on Paypie platform.

I do hope someday soon PAYPIE's platform will be the ultimate standard on company credit scoring and will be embraced by the business community.

[windreamteam]

Happy to be amoung the world's first blockchain accounting platform. What i found good in this project is that all over the world anyway the type of business many companies could find this service very usefull.  Companies financial is a hard thing to keep update for exemple, here everything will be clear, transparent, safe what can be very usefull if a company need a credit, if a company need to apply for an inssurance, or even if a company want to be sold. Many applications are possible.

[wonderfullife]

The project is intersting for companies because it saves time and money and avoids duplicate spots, fraud and expensive audits and ensures the continuity of the business by converting cash problems.

[Trrrt]

The better things in PAYPIE is that the algorithm will agregate the data, so the more data we give to the soft the more will be accurate the risk analysis. So the algorithm will become better each new day and each new data he take. And financial compagnie has a lot of data to agregate, and with the good algorithm and the good analysis you can have a very accurate risk prediction and manage your business better. And the algorithm will work in a lot of other domain than finance, like in retail, where risk is very important, applicate this data to a nice management control and you can improve your benefit !

[Heimer]

This project is good for bank to check company finance. Government will love this project too.

But many company have a bad business results will not like it. Think about when they need loan money from bank. In traditional way they will make a fake accounting balance sheet.

Conversely, many company also are doing good but they need additional funding to expand and grow their business, then they can utilize PAYPIE's platform
so that they can obtain a good credit standing from their potential creditors.

Agree! and think more about future. My company can get money from a bank in other country just by prove My company finance on Paypie platform.

I do hope someday soon PAYPIE's platform will be the ultimate standard on company credit scoring and will be embraced by the business community.

Nice perspective, maybe in the future? Everything will be so much easier for companies and accountants 

[areschen]

I think through this platform can be implemented Lean financial management,  It is  very helpful for small company.

[Korsakopf]

The founders are some real heavyweights if you check out their Linked in profiles. Always good to see that on a new project, gives me faith in it's succes!

[Islapdonkey]

How will this project actually get off the ground? You are targeting the SME space, but the SME space isn't actually the space that is most eager to adopt blockchain technology. If you want to provide a 100% accurate risk assessment, you need a 100% transparent picture of the company. And therefore you need 100% of all assets and liabilities being accessible for you. And therefore you need a double layer accounting system with a data feed infrastructure between the double entry and the triple entry layer. And that again is adding complexity in the first place, which many of those companies will not want. Are you actually targeting companies that are about to be newly incepted or established companies that you want to get to transfer their double entry data into triple entry accounting infrastructure?

You might actually be surprised that a lot of SME will appreciate this service. As I aforementioned, if this service becomes the norm, it will break down barriers and encourage universal lending. So a SME in South Africa might not be able to apply for a loan with a bank in Australia. Because the bank has no way to prove their credit worthiness, with Paypie, the bank can easily verify their assets and liabilities. Thus enabling a process that was priorly deemed impossible.
As for does complaining about companies with shady paperwork, well Paypie is not meant for them and honestly, those shady companies shouldn't get funds that could be allocated to another company operating in an honest fashion

[Voltaje]

This project is good for bank to check company finance. Government will love this project too.

But many company have a bad business results will not like it. Think about when they need loan money from bank. In traditional way they will make a fake accounting balance sheet.

Conversely, many company also are doing good but they need additional funding to expand and grow their business, then they can utilize PAYPIE's platform
so that they can obtain a good credit standing from their potential creditors.

Agree! and think more about future. My company can get money from a bank in other country just by prove My company finance on Paypie platform.

I do hope someday soon PAYPIE's platform will be the ultimate standard on company credit scoring and will be embraced by the business community.

Nice perspective, maybe in the future? Everything will be so much easier for companies and accountants 

That would be excellent for the project, but that will also generate another small market, because of this, new competition will arise, or the companies and banks will invest in creating their own solution similar to pay pie, regardless all of that is good for the market itself, and will, of course, bring even more companies for pay pie, mostly because very few companies are big enough to create their own blockchain, the rest will have to pay for the service.