[ANN] PayPie - Blockchain-Powered Risk Assessment

[the_donald]

They have any competitors right now? Or this niche still free? TaaS is a competitor or no?

I haven't seen any competitors of paypie in crypto world. Taas is a bit different and they are working with only crypo companies, Paypie will be on everywhere. They will work with companies not only in crypto world.

This is nice in this way. If they dont have competitors, they have more chances for succes  

Not necessarily. Having competitors is good, it means you're idea has been tested and found to be successful. You don't always wanna be first to market, 'cause that means doing all the due diligence for project success.

[nelson4lov]

They have any competitors right now? Or this niche still free? TaaS is a competitor or no?

I haven't seen any competitors of paypie in crypto world. Taas is a bit different and they are working with only crypo companies, Paypie will be on everywhere. They will work with companies not only in crypto world.

This is nice in this way. If they dont have competitors, they have more chances for succes  

Not necessarily. Having competitors is good, it means you're idea has been tested and found to be successful. You don't always wanna be first to market, 'cause that means doing all the due diligence for project success.

I agree. Having Competitors is healthy as it creates room for more improvement in either of the competitors who is performing badly. On a lighter note though, Paypie is the first accounting platform on a distributed ledger(Blockchain) and at such, It has the first mover advantage in this regard.

[tiger5056]

are you going to have white listing fo ICO? looks like trend now a days. 

[Elkmar]

They have any competitors right now? Or this niche still free? TaaS is a competitor or no?

I haven't seen any competitors of paypie in crypto world. Taas is a bit different and they are working with only crypo companies, Paypie will be on everywhere. They will work with companies not only in crypto world.

There is Fizcal. It's a project which plan to integrate triple entry accounting via the blockchain in a software too.

But Paypie have major arguments like the credit risk assessment, which is very interesting.

[tiger5056]

is ICO or pre-ICO price announce?

[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?

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

But that does not fully answer my question. How are you making sure that all assets and liabilities are correctly captured on the blockchain in order to reliably assess credit worthiness? Does that only work for companies that start their business more or less newly and completely on the blockchain?

[bitcoin-shark]

i think there is no similar ico/project so for now this project have no competitors,i see in first page that it will be possible make investments only with ethereum i appreciate this...

[bitsurfer2014]

So is this truly decentralized? Everybody in the world can get a credit according to their score, or is it focusing on a specific land? Indeed an interesting project!

PAYPIE's platform is truly decentralized as it resides on the blockchain. Not everybody gets to access the credit rating of individual companies as it depends per end user of PAYPIE;s marketplace.

[Buchi-88]

@Team yo also have a German Thread and Whitepaper?

[toolucky98]

is ICO or pre-ICO price announce?

Price per token: 1 PPP = 0.0011 ETH
But things like discounts or bonuses have not been announced yet.

[Islapdonkey]

So is this truly decentralized? Everybody in the world can get a credit according to their score, or is it focusing on a specific land? Indeed an interesting project!

This is the point I keep bringing up. It will facilitate a lending offer to occur btw business in different parts of the world cos their liquidity and liabilities can easily be verified on the blockchain.

[mirx]

So is this truly decentralized? Everybody in the world can get a credit according to their score, or is it focusing on a specific land? Indeed an interesting project!

This is the point I keep bringing up. It will facilitate a lending offer to occur btw business in different parts of the world cos their liquidity and liabilities can easily be verified on the blockchain.

What is most important is that blockchain platform is 50% ready. Most ICO projects don't have anything other than idea and a white paper. I see that this project is different.

[no-ice-please]

So is this truly decentralized? Everybody in the world can get a credit according to their score, or is it focusing on a specific land? Indeed an interesting project!

This is the point I keep bringing up. It will facilitate a lending offer to occur btw business in different parts of the world cos their liquidity and liabilities can easily be verified on the blockchain.

Yes but isn't that the case only for businesses that are completely based on a blockchain already? All other businesses would have to transfer their assets and liabilities onto the blockchain and get the data audited. Otherwise, why would a business from Country A trust the data of a business in country B?

[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

But that does not fully answer my question. How are you making sure that all assets and liabilities are correctly captured on the blockchain in order to reliably assess credit worthiness? Does that only work for companies that start their business more or less newly and completely on the blockchain?

Oh! I see what you mean. But I do anticipate that there will be kinks to work out in the beginning. They might enforce that liquidity/liabilities be completely verifiable but this will require governmental assistance to enforce. That's why i believe this platform will gain a stronghold in first world countries where the supplemental needs are already in place, and as other partsof the world embrace growth/ blockchain, their government might consider adopting the platform cos ultimately it helps guarantee that basic citizens and businesss are paying the required amount of tax

[levyashin]

So is this truly decentralized? Everybody in the world can get a credit according to their score, or is it focusing on a specific land? Indeed an interesting project!

This is the point I keep bringing up. It will facilitate a lending offer to occur btw business in different parts of the world cos their liquidity and liabilities can easily be verified on the blockchain.

Yes but isn't that the case only for businesses that are completely based on a blockchain already? All other businesses would have to transfer their assets and liabilities onto the blockchain and get the data audited. Otherwise, why would a business from Country A trust the data of a business in country B?

I believe they will / should work with loval companies. All countries regulations are different so i don't believe it can be done from just a country. Maybe they start with European Union and work they way to other countries but even european union all countries regulations are different. So there is two methods we can discuss, open lots of branch in different countries or work with local companies. I believe in that, first they will work with local companies after that they will open branches in lots of countries.

[Heimer]

is ICO or pre-ICO price announce?

Price per token: 1 PPP = 0.0011 ETH
But things like discounts or bonuses have not been announced yet.

Probably there will be some bonuses at presale stage and first weeks (or days) of main ICO stage as usual. Just be patient and wait for official announcements and news 

[ParRus]

is ICO or pre-ICO price announce?

Price per token: 1 PPP = 0.0011 ETH
But things like discounts or bonuses have not been announced yet.

Probably there will be some bonuses at presale stage and first weeks (or days) of main ICO stage as usual. Just be patient and wait for official announcements and news 

how many all coins will be released?

[Islapdonkey]

is ICO or pre-ICO price announce?

Price per token: 1 PPP = 0.0011 ETH
But things like discounts or bonuses have not been announced yet.

Probably there will be some bonuses at presale stage and first weeks (or days) of main ICO stage as usual. Just be patient and wait for official announcements and news 

how many all coins will be released?

According to the Ann that's on the first page. Total Token Pool Size Including Reserve: 165,000,000 PPP

[cantdecide]

Still trying to get a full understanding of your project.

In your whitepaper you stated:
"PayPie pool will buy that invoice from you at a discount & then wait for Nike to pay the original sum to the pool. This allows you to make payroll, purchase new materials, hire new people & grow faster."

In other words the PayPie pool will just buy something like 'certificate of indebtedness' just on a level before. How much will the discount be to buy this? And will there be a variable of percentage for the discount, up to what rating the company has on the platform?

I already asked this question as well, but no answer so far. Would be good to know as this is one way to use your PPP token and make profit.

I asked a member of the team and got this response.
"We will just provide credit risk score along with history. Discount rate will be decided by the token holders based on the investment opportunity they find to match their trading style."
So, it'll be a market for invoice financing. Discount rates will be variable and negotiable, IMO.

As I can understand you have a market place, where everyone who holds PPP tokens can participate and can buy invoice financings. Is it then like an "auction" or something? Where someone can put an invoice on the marketplace and some people can make discount offers, so that the seller is able to decide which offer he want to take?

Would love to hear an answer from one of the devs

[Elkmar]

is ICO or pre-ICO price announce?

Price per token: 1 PPP = 0.0011 ETH
But things like discounts or bonuses have not been announced yet.

Probably there will be some bonuses at presale stage and first weeks (or days) of main ICO stage as usual. Just be patient and wait for official announcements and news 

Yes, it would be weird to have a presale without any bonus. Even some big projects which tried to so finally changed their minds and put a bonus on the presale.