[ANN] PayPie - Blockchain-Powered Risk Assessment

[kraterion]

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

Companies with shady paperworks are the majority out there (in my country this is true) but banks and companies are ok with that, if they adopt this algorithm many many companies will go down

[Jay2408]

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

Companies with shady paperworks are the majority out there (in my country this is true) but banks and companies are ok with that, if they adopt this algorithm many many companies will go down

I'm not sure if such companies are the majority. There are certainly countries where accounting is handled loosely and it is ok, but in countries with relatively strict tax laws (and equivalent tax authorities  ) companies have to do proper accounting sooner or later.

[imtiazmahmood]

project going very well. i think this project going to be listed on big exchanges. because paypie is reputed project. this will be gonna bring revolution in crypto world. what you think guys.

[kraterion]

project going very well. i think this project going to be listed on big exchanges. because paypie is reputed project. this will be gonna bring revolution in crypto world. what you think guys.

If banks are going to use this algorithm is not a revolution in crypto world, it's a revolution on economic world. The more and more projects like this popping up, the more we're seeing blockchain use cases in real world. And we're only in early stages of that, if you really think about that we're lucky to be part of this

[Cauchy]

Has there been any pre-ico/pre-sale and if so, what amount was raised? Thanks in advanced. Best of luck with the Project.

[Sozialtourist]

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.

Doesn't that mean the potential growth of the price for the token is limited. I guess the operators of the PAYPIE platform don't want their services to be too expensive. Or will they adjust the price to access the platform to the market prce of the PPP tokens?

[mexi.db]

Has there been any pre-ico/pre-sale and if so, what amount was raised? Thanks in advanced. Best of luck with the Project.

there hasn't been an ico or presale yet.

[Elkmar]

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!

Wow, I did not even check this. And that's really impressive. Most of the time I don't dig too much into this, but that's true that bring some trust to invest in this project 

The team must perfectly know what they are doing !

[mexi.db]

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.

Doesn't that mean the potential growth of the price for the token is limited. I guess the operators of the PAYPIE platform don't want their services to be too expensive. Or will they adjust the price to access the platform to the market prce of the PPP tokens?

the tokens will be traded on the exchanges or between individuals or organisations. therefore, the tokens will increase in value with time as the platform gains wider adoption and there is increase in demand for the tokens.

[Rigorous]

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.

Yeah, I don't know about that. Financial incentives might nudge them in the right direction, but you might be surprised how many businesses are running Windows XP in 2017. And often not even out of laziness or disinterest, but because they rely on proprietary legacy software or simply lack the funds to upgrade.

http://www.techrepublic.com/article/windows-xp-refuses-to-die-but-windows-10-adoption-is-slowly-gathering-pace/

I wonder if the blockchain software even runs on those systems. Either PayPie needs to take support for older Windows versions and 32-bit into account, or hope business will finally upgrade. But even the ransomware attacks that hit the headlines this year costing millions didn't really change a lot in that respect.

[Pajulapoiss]

So...

How do they get all the data, or accounting information? That they are providing?
I've got a missing link, I can't understand how this thing works.  

Thanks

/Also what is achieved by the purchase of invoices?

PayPie obtains data from the input of a company financials, which is the journal entry data that is being entered manually or automatically in an accounting or ERP software. The data is used to calculate income, expense, payables, receivables etc. and ultimately all financial reports like retained earning, balance sheet, total assets or liabilities of a business.

The purchase of invoices helps to solve the problem of liquidity and financing for SMEs. SMEs struggle to create new opportunities, implement existing plans, pay salaries, manage working capital to buy new equipment, and negotiate the best terms with their suppliers. Most business payments get  paid only after 90-120 days and cost them in billions in lost opportunities. Cash is given to the SME against outstanding sales invoices instantly by an investor at a cost that creates a solution where everyone benefits. The investor as part of the paypie pool will buy invoices at a discounted rate & provide SME with the money within 24 hours while waiting for the first customer to pay the pool original amount as per the term sheet.

Thank you for these detailed explanations.
But I must be a bit dull on the accounting subject, cuz It's still a bit blurry


So, how or where does PayPie get the financial data from? - are they using credit check databases? So they dig up the data they need on a company, if someone requests it on their platform, then they save it there for future use too? and gradually increase their database size?



 And how can they be sure, that the data they have, is accurate, if some of it is being entered manually?

[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.

Yeah, I don't know about that. Financial incentives might nudge them in the right direction, but you might be surprised how many businesses are running Windows XP in 2017. And often not even out of laziness or disinterest, but because they rely on proprietary legacy software or simply lack the funds to upgrade.

http://www.techrepublic.com/article/windows-xp-refuses-to-die-but-windows-10-adoption-is-slowly-gathering-pace/

I wonder if the blockchain software even runs on those systems. Either PayPie needs to take support for older Windows versions and 32-bit into account, or hope business will finally upgrade. But even the ransomware attacks that hit the headlines this year costing millions didn't really change a lot in that respect.

Blockchain/cryptocurrency is still in an infantile stage. So, I don't anticipate a mass adoption for awhile but it's inevitable. At first, the service offered by Paypie will garner support in the first world countries (though I hate the idea of denoting a country as a second/third world, reality bites) these countries tend to value transparency, their citizens are more inclined to bolster their credit and officials will go to extreme lengths to punish anyone suspected of committing a fraud. Anyway, with time the idea is bound to be adopted by other places. With blockchain implementation, transparency is bound to be norm and companies will either have to concede to grow or refuse and stay dormant, if they choose to stay dormant, it will inevitably lead to its demise.

[lvsca]

i will ask something, maybe my question can be added to Q&A section.

where this platform will be applicable? for little agency such as school?
is platform will be sell or rent? how much pricing needed to purchase this platform?

i'm waiting the answer for this question, if i got detail about this, i will promoting this platform in my agency after launch 

[belechau]

The terms algorithm and prevention matched very well. Surely the Paypie has a brilliant start and an even better future. With the new era introducing itself, it only adds more value to the project and therefore we increase the guarantee and our investments.
Paypie has enough potential to be a worldwide benchmark for cryp o investors. Surely holders of your currency will have excellent earnings and investing in Paypie will be wise. I always look for projects with good vision for the future. Surely Paypie has this profile this will take place the light of the moon

[magisterr]

They have some parthership or arragemens with some financial companies already? Can you tell me with which, if yes.

[Rune]

They have some parthership or arragemens with some financial companies already? Can you tell me with which, if yes.

I am also interested into knowing I am not finding the information anywhere but maybe I did just not look correctly.

[Frickeladm]

I dont know much about blockchain and accounting but I can sense that you guys are creating something cool.Looking forword to this ico.I will keep visiting for updates

[Islapdonkey]

i will ask something, maybe my question can be added to Q&A section.

where this platform will be applicable? for little agency such as school?
is platform will be sell or rent? how much pricing needed to purchase this platform?

i'm waiting the answer for this question, if i got detail about this, i will promoting this platform in my agency after launch 

The platform is geared more to SMLE and Banking institutions. A singular individual might benefit from it but its core users will be the aforementioned. As for schools, I don't see any reason why they wouldn't benefit from the platform especially if it's an educational center with a for profit agenda. Schools accrue liquidities and liabilities just like any other SME, so it will benefit from the service provided by Paypie.
 With regards to price, you will be able to use the Paypie token (PPP) on the platform to order/pay for services rendered. So, technically you pay for the services, but you not renting, neither are you buying. Cos you don't return the service provided back to Paypie and paying for a service doesn't transfer ownership of the proprietary service to you.

[the_donald]

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?

I'm sure you'll be able to do that. It would be silly otherwise. I think the platform holders will sell the tokens on both exchanges and the platform itself.

[pynetx]

It's a revolutionary platform and it can be used not only by banks but, also by governments to keep an eye over the tax frauds.