[ANN] PayPie - Blockchain-Powered Risk Assessment

[nelson4lov]

This project looks fascinating I'll have a read through the whitepaper

How much are you hoping to raise with the ICO?

The total tokens allocated to the crowdsale is 82,500,000 PPP tokens. At a price of 0.0011 ETH per PPP, 82,500,000 tokens will equal 90,750  ETH  which is approximately $28,000,000 at current ETH price. Again, This is Just an estimation.

[1714835245]

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[1714835245]

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[1714835245]

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[toolucky98]

This project looks fascinating I'll have a read through the whitepaper

How much are you hoping to raise with the ICO?

The total tokens allocated to the crowdsale is 82,500,000 PPP tokens. At a price of 0.0011 ETH per PPP, 82,500,000 tokens will equal 90,750  ETH  which is approximately $28,000,000 at current ETH price. Again, This is Just an estimation.

Dont forget this Minimum Token Crowdsale for Platform Viability: 4,500,000 PPP (4950 ETH)

[the_donald]

When is the presale due and will it be min capped? thanks

Hello, Details about the presale (date, Min cap etc) are yet to be finalized. Once It is finalised, The information will be shared here.

In the meantime, You should subscribe to the PayPie Newsletter on the website: https://paypie.com or Join the Slack Channel: https://paypie.herokuapp.com/

On pre-sale you will have some more bonuses? Any miniimum pursache on pre-sale?

This was a message from a dev:
Details about the presale (date, Min cap etc) are yet to be finalized. Once It is finalised, The information will be shared here.

In the meantime, You should subscribe to the PayPie Newsletter on the website: https://paypie.com or Join the Slack Channel: https://paypie.herokuapp.com/

So more info very soon

They are a little bit discreet right now, probably working things out.

I hope they communicate with us more often.


For pre-ico i believe they will put a minimum contribituon limit that will force us to wait ico. But who nows, just wait now.

Don't expect a large amount of updates until closer to the ICO date. It's the most of these are done nowadays.

[levyashin]

China banned chinese to raise funds with ico, but they can invest to icos, outside of china.

So i believe chinese will look for good icos out of china and paypie will definetly interest them. Soft cap is easily will pass and i believe we will hit hard cap in a short time after icos start.

[Sozialtourist]

China banned chinese to raise funds with ico, but they can invest to icos, outside of china.

So i believe chinese will look for good icos out of china and paypie will definetly interest them. Soft cap is easily will pass and i believe we will hit hard cap in a short time after icos start.

Yes, that ICO ban offers project like this new opportunities in the Chinese market. But what they need now to get into this market is atleast Chinese translation for all the important things. Is that already done?

[Wapinter]

China banned chinese to raise funds with ico, but they can invest to icos, outside of china.

So i believe chinese will look for good icos out of china and paypie will definetly interest them. Soft cap is easily will pass and i believe we will hit hard cap in a short time after icos start.

Yes, that ICO ban offers project like this new opportunities in the Chinese market. But what they need now to get into this market is atleast Chinese translation for all the important things. Is that already done?

Yes our ANN and Whitepaper both are available in Chinese also.You can check ANN chinese version Here and hers is our ChineseWhitepaper

[bitsurfer2014]

Also how are companies incentivized to add their companies financials to the platform? Do they receive tokens in exchange for providing their data? Finally, is there a similar credit score rating contemplated for individuals?

On the slack, a similar questions were asked and got these responses which were quite insightful.
"Initially we will be attracting established companies to the marketplace by enabling east and fast lending process from anywhere, anytime. Current process with banks is cumbersome, time consuming and very expensive and can eat up to 25-30% of the invoice value in agreement cost, interest and fees. This exposes them to the benefits of blockchain accounting and create wider awareness among them. We already have and will build more relationship with organized groups like accounting and bookkeeping firms who usually advise businesses on what platform to use. The benefits like ending duplicate data entry, automated reconciliation and automatic audits are some of the huge benefits that are simply too hard to ignore because they impact your profits."

Finally, is there a similar credit score rating contemplated for individuals? What I mean is are you proposing a score that would compete with FICO for rating consumers? If so, this could have promise as well.    

"Only if person is self employed like a contractor or web developer. We will be able to build a risk score based their income, expenses  and other historical data."

Hello dev team, this is really promising IMHO and will consider an allocation as I learn more about the project and possible valuation. Is this product intended to compete with the oligopoly of S&P, Fitch, and Moodys for credit rating services? Or are you primarily targeting smaller businesses that are outside of the purview of the large rating services? It seems to me to be the latter. Either way there should be room for growth.  

They are actually targeting the big players and offering a lot of incentives to use the paypie platform
"Yes, we are not building an accounting software but an accounting platform that exposes to the many benefits of blockchain to the SMEs. It's a mix of accounting software and credit scoring companies....you can think this way because we use the blockchain to solve their cashflow problem."

you should join the slack to communicate directly with members of the team. https://paypie.herokuapp.com/

This is very good answers, and I was already aware of the accounting platform, but not the credit scoring, I thought they had an algorithm to give credit risk predictions, but it appears that it will be integrated fully in the platform, together with a complex ledger to act upon it, so that scoring algorithm is just one part of the product the project is offering to the market, this is getting good by the day .

Yes, PayPie is not building an accounting software but an accounting platform that exposes to the many benefits of blockchain to the SMEs. It's a mix of accounting software and credit scoring companies....you can think this way because we use the blockchain to solve their cashflow problem.

I've been thinking about that for some days now and you exposed it again. Maybe the title for this topic was not a good choice for newbies. I mean, when they talk about accounting they mean risk scoring. It'd make more sense to say "World’s First Blockchain Risk Scoring Platform". Don't you think?

From what I understand what you are saying makes more sense than calling it some accounting platform.

I think it would be best to call it an accounting platform rather than a risk scoring platform as "risk scoring" term is familiar only to bankers and auditors and those involve in the financial sector.

[Cauchy]

I would suggest to create a simple infographic where you describe the 1. solution and business offering 2. Investor proposal e.g. how we will benefit from holding tokens. Great Project idea!

[Rigorous]

China banned chinese to raise funds with ico, but they can invest to icos, outside of china.

So i believe chinese will look for good icos out of china and paypie will definetly interest them. Soft cap is easily will pass and i believe we will hit hard cap in a short time after icos start.

Yes, that ICO ban offers project like this new opportunities in the Chinese market. But what they need now to get into this market is atleast Chinese translation for all the important things. Is that already done?

Yes our ANN and Whitepaper both are available in Chinese also.You can check ANN chinese version Here and hers is our ChineseWhitepaper

There isn't much activity on there. Do you have other channels where you can communicate with Chinese investors? Try to make the best of this, as I can imagine they are confused which ICOs are allowed to invest in and which ones are not. If you can get the word out PayPie is safe for them, that could attract a lot of Yuan looking for a new home.

[belechau]

There is a constant complaint from the Chinese about unscrupulous users who disappear with the investment of others, but it should be noted that in projects like Paypie there is undisputed control and transparency, which goes some way in sync with what they demand . I believe that in those bands, it is something fleeting and soon they will return. let's be grateful to be on the other side of the walls, and have projects like Paypie to make us believe in better days.

[matjas]

The whole crypto community is taking a blow right now after the announcement from China. It would be interesting to see in numbers, how much Chinese are investing in foreign ICOs.

[Elkmar]

Also how are companies incentivized to add their companies financials to the platform? Do they receive tokens in exchange for providing their data? Finally, is there a similar credit score rating contemplated for individuals?

On the slack, a similar questions were asked and got these responses which were quite insightful.
"Initially we will be attracting established companies to the marketplace by enabling east and fast lending process from anywhere, anytime. Current process with banks is cumbersome, time consuming and very expensive and can eat up to 25-30% of the invoice value in agreement cost, interest and fees. This exposes them to the benefits of blockchain accounting and create wider awareness among them. We already have and will build more relationship with organized groups like accounting and bookkeeping firms who usually advise businesses on what platform to use. The benefits like ending duplicate data entry, automated reconciliation and automatic audits are some of the huge benefits that are simply too hard to ignore because they impact your profits."

Finally, is there a similar credit score rating contemplated for individuals? What I mean is are you proposing a score that would compete with FICO for rating consumers? If so, this could have promise as well.    

"Only if person is self employed like a contractor or web developer. We will be able to build a risk score based their income, expenses  and other historical data."

Hello dev team, this is really promising IMHO and will consider an allocation as I learn more about the project and possible valuation. Is this product intended to compete with the oligopoly of S&P, Fitch, and Moodys for credit rating services? Or are you primarily targeting smaller businesses that are outside of the purview of the large rating services? It seems to me to be the latter. Either way there should be room for growth.  

They are actually targeting the big players and offering a lot of incentives to use the paypie platform
"Yes, we are not building an accounting software but an accounting platform that exposes to the many benefits of blockchain to the SMEs. It's a mix of accounting software and credit scoring companies....you can think this way because we use the blockchain to solve their cashflow problem."

you should join the slack to communicate directly with members of the team. https://paypie.herokuapp.com/

This is very good answers, and I was already aware of the accounting platform, but not the credit scoring, I thought they had an algorithm to give credit risk predictions, but it appears that it will be integrated fully in the platform, together with a complex ledger to act upon it, so that scoring algorithm is just one part of the product the project is offering to the market, this is getting good by the day .

Yes, PayPie is not building an accounting software but an accounting platform that exposes to the many benefits of blockchain to the SMEs. It's a mix of accounting software and credit scoring companies....you can think this way because we use the blockchain to solve their cashflow problem.

I've been thinking about that for some days now and you exposed it again. Maybe the title for this topic was not a good choice for newbies. I mean, when they talk about accounting they mean risk scoring. It'd make more sense to say "World’s First Blockchain Risk Scoring Platform". Don't you think?

Yes, it would make more sense. There is other projects using blockchain for accounting, so that's not the world first blockchain accounting platform. The assesment of the credit risk is their main argument, so they should put it in the title 

[Islapdonkey]

Also how are companies incentivized to add their companies financials to the platform? Do they receive tokens in exchange for providing their data? Finally, is there a similar credit score rating contemplated for individuals?

On the slack, a similar questions were asked and got these responses which were quite insightful.
"Initially we will be attracting established companies to the marketplace by enabling east and fast lending process from anywhere, anytime. Current process with banks is cumbersome, time consuming and very expensive and can eat up to 25-30% of the invoice value in agreement cost, interest and fees. This exposes them to the benefits of blockchain accounting and create wider awareness among them. We already have and will build more relationship with organized groups like accounting and bookkeeping firms who usually advise businesses on what platform to use. The benefits like ending duplicate data entry, automated reconciliation and automatic audits are some of the huge benefits that are simply too hard to ignore because they impact your profits."

Finally, is there a similar credit score rating contemplated for individuals? What I mean is are you proposing a score that would compete with FICO for rating consumers? If so, this could have promise as well.    

"Only if person is self employed like a contractor or web developer. We will be able to build a risk score based their income, expenses  and other historical data."

Hello dev team, this is really promising IMHO and will consider an allocation as I learn more about the project and possible valuation. Is this product intended to compete with the oligopoly of S&P, Fitch, and Moodys for credit rating services? Or are you primarily targeting smaller businesses that are outside of the purview of the large rating services? It seems to me to be the latter. Either way there should be room for growth.  

They are actually targeting the big players and offering a lot of incentives to use the paypie platform
"Yes, we are not building an accounting software but an accounting platform that exposes to the many benefits of blockchain to the SMEs. It's a mix of accounting software and credit scoring companies....you can think this way because we use the blockchain to solve their cashflow problem."

you should join the slack to communicate directly with members of the team. https://paypie.herokuapp.com/

This is very good answers, and I was already aware of the accounting platform, but not the credit scoring, I thought they had an algorithm to give credit risk predictions, but it appears that it will be integrated fully in the platform, together with a complex ledger to act upon it, so that scoring algorithm is just one part of the product the project is offering to the market, this is getting good by the day .

Yes, PayPie is not building an accounting software but an accounting platform that exposes to the many benefits of blockchain to the SMEs. It's a mix of accounting software and credit scoring companies....you can think this way because we use the blockchain to solve their cashflow problem.

I've been thinking about that for some days now and you exposed it again. Maybe the title for this topic was not a good choice for newbies. I mean, when they talk about accounting they mean risk scoring. It'd make more sense to say "World’s First Blockchain Risk Scoring Platform". Don't you think?

Yes, it would make more sense. There is other projects using blockchain for accounting, so that's not the world first blockchain accounting platform. The assesment of the credit risk is their main argument, so they should put it in the title 

 That's actually not true. Sure Paypie will offer credit risk management, but that's just one peripheral of the offers they will provide. it's there on the whitepaper that they will provide invoice management, since it's on a blockchain, thus transparent, it will provide forensic use for a company dealing with litigation.
  So basically it's a full fledged accounting platform, emphasis is placed on credit management cos that specific aspect makes Paypie unique when compared to other attempts from other companies.

[Elkmar]

 That's actually not true. Sure Paypie will offer credit risk management, but that's just one peripheral of the offers they will provide. it's there on the whitepaper that they will provide invoice management, since it's on a blockchain, thus transparent, it will provide forensic use for a company dealing with litigation.
  So basically it's a full fledged accounting platform, emphasis is placed on credit management cos that specific aspect makes Paypie unique when compared to other attempts from other companies.

Maybe I was not clear, I agree with you  I was just saying that the credit risk part was what differentiate them from other companies, that's why they should put in the title in my opinion. Something like Triple Entry Accounting with unique Credit Risk management.

But it's true it's long 

[levyashin]

China banned chinese to raise funds with ico, but they can invest to icos, outside of china.

So i believe chinese will look for good icos out of china and paypie will definetly interest them. Soft cap is easily will pass and i believe we will hit hard cap in a short time after icos start.

Yes, that ICO ban offers project like this new opportunities in the Chinese market. But what they need now to get into this market is atleast Chinese translation for all the important things. Is that already done?

Yes our ANN and Whitepaper both are available in Chinese also.You can check ANN chinese version Here and hers is our ChineseWhitepaper

There isn't much activity on there. Do you have other channels where you can communicate with Chinese investors? Try to make the best of this, as I can imagine they are confused which ICOs are allowed to invest in and which ones are not. If you can get the word out PayPie is safe for them, that could attract a lot of Yuan looking for a new home.

Maybe with some advertisement and paid articles in chinese websites can create good publicity. I believe lots of chinese whales looking for good icos to invest right now, and if we make them aware of this great project, they will definetly make a huge contribution.

[Islapdonkey]

China banned chinese to raise funds with ico, but they can invest to icos, outside of china.

So i believe chinese will look for good icos out of china and paypie will definetly interest them. Soft cap is easily will pass and i believe we will hit hard cap in a short time after icos start.

Yes, that ICO ban offers project like this new opportunities in the Chinese market. But what they need now to get into this market is atleast Chinese translation for all the important things. Is that already done?

Yes our ANN and Whitepaper both are available in Chinese also.You can check ANN chinese version Here and hers is our ChineseWhitepaper

There isn't much activity on there. Do you have other channels where you can communicate with Chinese investors? Try to make the best of this, as I can imagine they are confused which ICOs are allowed to invest in and which ones are not. If you can get the word out PayPie is safe for them, that could attract a lot of Yuan looking for a new home.

Maybe with some advertisement and paid articles in chinese websites can create good publicity. I believe lots of chinese whales looking for good icos to invest right now, and if we make them aware of this great project, they will definetly make a huge contribution.

There is still several weeks. A month+, if am not mistaken before the ICO commences, am sure things will grow organically. The idea is already unique for the space, so everything is bound to follow suit

[mexi.db]

 That's actually not true. Sure Paypie will offer credit risk management, but that's just one peripheral of the offers they will provide. it's there on the whitepaper that they will provide invoice management, since it's on a blockchain, thus transparent, it will provide forensic use for a company dealing with litigation.
  So basically it's a full fledged accounting platform, emphasis is placed on credit management cos that specific aspect makes Paypie unique when compared to other attempts from other companies.

Maybe I was not clear, I agree with you  I was just saying that the credit risk part was what differentiate them from other companies, that's why they should put in the title in my opinion. Something like Triple Entry Accounting with unique Credit Risk management.

But it's true it's long 

Well, PayPie is a lot of things, which makes me really excited about this project each time i think of it. Like I mentioned in an earlier post, PayPie is not just another accounting software, but an accounting platform built on the blockchain and incorporated with credit risk scoring services and a marketplace for invoice financing. Not forgetting triple entry accounting and analysis conducted using the single ledger approach.

[mexi.db]

China banned chinese to raise funds with ico, but they can invest to icos, outside of china.

So i believe chinese will look for good icos out of china and paypie will definetly interest them. Soft cap is easily will pass and i believe we will hit hard cap in a short time after icos start.

Yes, that ICO ban offers project like this new opportunities in the Chinese market. But what they need now to get into this market is atleast Chinese translation for all the important things. Is that already done?

Yes our ANN and Whitepaper both are available in Chinese also.You can check ANN chinese version Here and hers is our ChineseWhitepaper

There isn't much activity on there. Do you have other channels where you can communicate with Chinese investors? Try to make the best of this, as I can imagine they are confused which ICOs are allowed to invest in and which ones are not. If you can get the word out PayPie is safe for them, that could attract a lot of Yuan looking for a new home.

Maybe with some advertisement and paid articles in chinese websites can create good publicity. I believe lots of chinese whales looking for good icos to invest right now, and if we make them aware of this great project, they will definetly make a huge contribution.

There is still several weeks. A month+, if am not mistaken before the ICO commences, am sure things will grow organically. The idea is already unique for the space, so everything is bound to follow suit

Well, that's true, the presale and ico terms are still being sorted out. While we build up to the big dates.

[Jay2408]

 That's actually not true. Sure Paypie will offer credit risk management, but that's just one peripheral of the offers they will provide. it's there on the whitepaper that they will provide invoice management, since it's on a blockchain, thus transparent, it will provide forensic use for a company dealing with litigation.
  So basically it's a full fledged accounting platform, emphasis is placed on credit management cos that specific aspect makes Paypie unique when compared to other attempts from other companies.

Maybe I was not clear, I agree with you  I was just saying that the credit risk part was what differentiate them from other companies, that's why they should put in the title in my opinion. Something like Triple Entry Accounting with unique Credit Risk management.

But it's true it's long 

Well, PayPie is a lot of things, which makes me really excited about this project each time i think of it. Like I mentioned in an earlier post, PayPie is not just another accounting software, but an accounting platform built on the blockchain and incorporated with credit risk scoring services and a marketplace for invoice financing. Not forgetting triple entry accounting and analysis conducted using the single ledger approach.

If I understood correctly, SlickPie is the accounting software of Paypie, but SMEs that use another software are able to integrate it to your platform, right?
And yes, I agree, Paypie is really a very interesting and promising project which will set standards in accounting + credit risk scoring.

[cantdecide]

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

Hey, still would love to know how your marketplace will work Will it be more like an auction or how does people negotiate?