[ANN] PayPie - Blockchain-Powered Risk Assessment

[Rigorous]

Banks are okay with that because they demand collateral to secure the loan.

But what will help secure invoice buyers from invoices sold at PayPie that will default?

The PayPie platform is centered around transparency, credit scores and smart contracts. Here are some key quotes from the whitepaper:

PayPie's credit scoring data will be indicating and assessing the risk of invoice default so that buyers can make educated decisions.

To prevent defaults, all parties involved will be able to rate each other at the end of the transaction and this history will be recorded on the immutable Ethereum blockchain to build a Decentralized Trust and Transparency Rating (DTTR) so that others can make well-informed lending decisions. Smart contracts will automatically amend each party’s trust rating according to an algorithm after completion of the lending process.

For example, if a smart contract can be written between an investor and an invoice seller to say that once the seller is victorious in reaching a particular credit score in PayPie platform, 80% of the funds will be released to the invoice seller.

I suppose you would be right to say that there is no mention of physical or monetary collateral. The main collateral appears to be their credit score and their reputation. If an invoice seller defaults that will be for everyone to see forever.

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[bitcoin-shark]

Only 12 days left for main crowdsale. And still any date of pre-sale? Im waiting announced (date, price, conditions etc)

I think presale will start on 15-October too if dev doesn't have any news update this week

There must be a news this week, that's what they said on telegram, for what I know btw, full infos on presale will be sent out 3 days before presale. About price, they already said min contribution will be 1 ETH (I don't remember how many tokens/ETH)

just wait for the official announcement of the exact date of start of presale,i will follow more closer telegram channel...

[haxllega]

For such popular and strong projects as paypie, it would be nice to have a whitelist or an individual cap like in icon so everyone can participate

Perhaps an individual cap, that will ensure nobody holds too many coins, but a whitelist is not necessary, they already decided that there will be a pre-ico, with a minimum investment size, so there is no need for more, the project is already good as it is.

Yes, a maximum cap per individual is must. This way price can not be controlled by a small group of whales.

I disagree, though is seems good at first ,you have to take into account the possibility that they may not get enough investors. that's when wales step in and compensate.

If a project has great vision then people will invest in it and they don't have to whales.
Cindicator set an example how ico should work. That was most closed ico ever and still they reached the hard cap before end date.
Less spread is always harmful.

Even though a project has a great vision, doesn't mean it will attract more investors. Without whales, almost impossible for a project to run as expected.

What are you talking about? Many project succeded befor without any whale (or at least no one was pointed out as a whale). It doesn't matter if ICO raise $20m from 2 whales or if ICO raise $20m from 2000 small investors

It is often better if the coin is distributed to 2000 investors than to 2 whales, because with many investors the risk of a big dump is not so high.  

It depends. If the whales have good economic intentions, then two whales can be really helpful.

Yes but only if they don't sell. I think the best solution is a combination of whales and smaller investors.

History of the latest ICO's have learned us that the whales who buy-in on pre-ico level dump the moment the tokens/coin hits the exchange and then buy back at lower prices so they accumulate higher levels of tokens/coins.
I think the best way to limit this behaviour is to do no pre-sales at very high discounts or limit the allowed investment, this will protect the coin/token holders more.
The downside to this is that the ICO will be less quickly sold out. (just my 2 cents)

I think only very risky project need a pre sale with big discounts over 20% ICOs like for example paypie will be even sold out with 10%

[Elkmar]

Only 12 days left for main crowdsale. And still any date of pre-sale? Im waiting announced (date, price, conditions etc)

I think presale will start on 15-October too if dev doesn't have any news update this week

There must be a news this week, that's what they said on telegram, for what I know btw, full infos on presale will be sent out 3 days before presale. About price, they already said min contribution will be 1 ETH (I don't remember how many tokens/ETH)

just wait for the official announcement of the exact date of start of presale,i will follow more closer telegram channel...

It's sure that we begin to be near the ICO date, we're waiting for the announces devs : D

[Voltaje]

Only 12 days left for main crowdsale. And still any date of pre-sale? Im waiting announced (date, price, conditions etc)

I think presale will start on 15-October too if dev doesn't have any news update this week

There must be a news this week, that's what they said on telegram, for what I know btw, full infos on presale will be sent out 3 days before presale. About price, they already said min contribution will be 1 ETH (I don't remember how many tokens/ETH)

just wait for the official announcement of the exact date of start of presale,i will follow more closer telegram channel...

It's sure that we begin to be near the ICO date, we're waiting for the announces devs : D

The date was already announced, you can check it on the website, it will be the 15th of October, so prepare for that date, you wouldn't want to miss the bonus in the pre-ico, it will be way better if you invest on time.

[Elkmar]

Only 12 days left for main crowdsale. And still any date of pre-sale? Im waiting announced (date, price, conditions etc)

I think presale will start on 15-October too if dev doesn't have any news update this week

There must be a news this week, that's what they said on telegram, for what I know btw, full infos on presale will be sent out 3 days before presale. About price, they already said min contribution will be 1 ETH (I don't remember how many tokens/ETH)

just wait for the official announcement of the exact date of start of presale,i will follow more closer telegram channel...

It's sure that we begin to be near the ICO date, we're waiting for the announces devs : D

The date was already announced, you can check it on the website, it will be the 15th of October, so prepare for that date, you wouldn't want to miss the bonus in the pre-ico, it will be way better if you invest on time.

Sorry, my bad, I wanted to say we're nearing the ICO date, so the presale if there is one should be soon too, and we're waiting for an announcement.

[ParRus]

This ICO is so hyped up, I bet it will be sold out within hours if not minutes.
And a majority of you guys may not even get in.

Oh trust me, am getting in on this one. Even, if I have to get Vitalik to personally send in my bid

Ha, I'd like to see that happening either way it does seem like this ICO is pretty hyped. hopefully that will translate into plenty of investors.

I agree, it will be not so easy to buy - I'll try to oct 15th, free up my money from other projects. now the main priority - PAYPIE

Are there any restrictions on the amount of purchase? What min and max number of tokens can I buy?

I think if there are restrictions it's for maximum - and not for minimum. at least it would be more logical to do for this great project

[bitcoinbulk]

This ICO is so hyped up, I bet it will be sold out within hours if not minutes.
And a majority of you guys may not even get in.

Edit:
Sorry, was meant to say... "And a majority of you guys may not even able to get in."

I've thought this too. There's A LOT of people excited about this one. It will be interesting to see how they do the pre-sale. If it's a free for all it could be a cluster.

[FIEX]

This ICO is so hyped up, I bet it will be sold out within hours if not minutes.
And a majority of you guys may not even get in.

Edit:
Sorry, was meant to say... "And a majority of you guys may not even able to get in."

I've thought this too. There's A LOT of people excited about this one. It will be interesting to see how they do the pre-sale. If it's a free for all it could be a cluster.

An hyped ICO isnt always a success but this is really something unique.
This system will get a lot of funds from a lot of big and small investors. Cant wait to see the pre-sale go and ICO! Really hope I would be able to buy a little

Great work team!

[greatteager]

This ICO is so hyped up, I bet it will be sold out within hours if not minutes.
And a majority of you guys may not even get in.

Edit:
Sorry, was meant to say... "And a majority of you guys may not even able to get in."

I've thought this too. There's A LOT of people excited about this one. It will be interesting to see how they do the pre-sale. If it's a free for all it could be a cluster.

An hyped ICO isnt always a success but this is really something unique.
This system will get a lot of funds from a lot of big and small investors. Cant wait to see the pre-sale go and ICO! Really hope I would be able to buy a little

Great work team!

You are right, this is really a unique project without competition with an excellent team. Who will have time to buy one will have a good profit.

[zahra4577]

they have not announcd their presale date to date.They would announce it 3 days before presale which means there wont be any presale this week.

[matjas]

This ICO is so hyped up, I bet it will be sold out within hours if not minutes.
And a majority of you guys may not even get in.

Edit:
Sorry, was meant to say... "And a majority of you guys may not even able to get in."

I've thought this too. There's A LOT of people excited about this one. It will be interesting to see how they do the pre-sale. If it's a free for all it could be a cluster.

I think this prediction is to optimistic for the current state that cryptocurrencies are in. I believe ICO will be successful but recently almost no project reached their hard cap.
But i still agree, that this might be one of the most successful ICOs in recent weeks.

[nial]

Looking forward for the ico, good project

[SzeChun]

What will happen if the project will raise less money than you expect?

[zahra4577]

What will happen if the project will raise less money than you expect?

I think they will refund the money to investors.Although I am sure that situation would not arise as paypie is much awaited project

[dunfida]

What will happen if the project will raise less money than you expect?

Depends. If they set out a soft cap and able to reach that point then it is considered successful.Some ICO don't set a particular caps which most of them doesn't really depend on what would be the outcome of the fund raising.There are ICO which if they haven't reach out the particular cap they would returns investors funds.

[Korsakopf]

Hi guys, i have a question that i hope one of you could clarify. Earlier in this thread there were mentions of using the PPP token be able to do factoring on the PayPie platform. I'm not too knowledgeable on how this would work. And if so, when will this be made available?

[sockpuppet1911]

I didn't find any information about soft cap from the whitepaper, website or from ANN, am i just blind or do you have a soft cap?

[SzeChun]

What will happen if the project will raise less money than you expect?

I think they will refund the money to investors.Although I am sure that situation would not arise as paypie is much awaited project

Thank you for your answer. I also believe paypie is a good one to invest

[kateheoa]

I didn't find any information about soft cap from the whitepaper, website or from ANN, am i just blind or do you have a soft cap?

they haven't announced yet any ICO details such as softcap/hardcap