[ANN] PayPie - Blockchain-Powered Risk Assessment

[jhannlenris]

If I understand correctly this platform will be also a wallet for PPP tokens and surely their price will be changing that means, you will have to constantly change the price of services on the platform accordingly. So if I buy a supply of PPP tokens and its value goes up in the future, I could be using some features on the platform for a "discounted" price? Just like most tokens, the idea is to hopefully acquire it at a reduced rate, then utilize it at it's peak rate to maximize profit.

[magisterr]

If I understand correctly this platform will be also a wallet for PPP tokens and surely their price will be changing that means, you will have to constantly change the price of services on the platform accordingly. So if I buy a supply of PPP tokens and its value goes up in the future, I could be using some features on the platform for a "discounted" price? Just like most tokens, the idea is to hopefully acquire it at a reduced rate, then utilize it at it's peak rate to maximize profit.

Where you find price for services? I can find fixed price. May be they will have fixed price in $ by current rate?
If you find price list - give me link, or which page in whitepaper?

[levyashin]

Actually, the company that created the project is a legit software accounting company with many years of experiences, so yeah, they have all the competencies for a project like this, they know the market and know what it needs to be improved.

Sure, I believe the company is legitimate too. No doubt, there is no issue of scam. But this is not my point.
Every transaction involves risk, and a mechanism needs to be in place to significantly reduce, if not eliminate, such risk.
So far I really don't see any mechanism in place to deal with such risk.
Like I said before, it means nothing to do risk scoring and/or KYC on the SMEs selling the invoice, because they are not the weakest link.

PayPie is basically just trying to indirectly monetize its SlickPie customer base through blockchain.
Everything else is hype.
No doubt its customer base may grow.
But the issue here is the quality of the invoices that will be traded at PayPie market/platform/exchange.
How will PayPie try to prevent and/or recover any default?
Sure all transaction has risks, but if no mechanism is in place to reduce the risk, then you can bet things will 100% go out of control.
I say it again, risk scoring and/or KYC on the SMEs are irrelevant.

Edit:
The kind of competency I meant relates to legal competency, not accounting software competency.

Edit #2:
Waiting for the SMEs' invoices to default (and cause token holders to lose money) before we know who to stay away from, is a very bad approach.
If 1000 of SlickPie's customers unknowingly submit $100,000 worth of invoices to sell that will end up default, that translates to $100 million of loss.
And without any mechanism in place to enforce the quality of invoices to sell, SMEs (regardless of their credit scores) will naturally try to sell the ones with lowest chance of recovery.
And the worse part of PayPie's mechanism is that such junk invoices will actually be sold based on bidding process (!) as if the bidders would know any better.

Edit #3:
What makes Populous stands out is that there is no transfer of ownership of the invoices (unlike PayPie) and so the SME will still have obligation to do the recovery for the buyers.
And Populous shifts the weakest link from the entity-debtor to the SME-seller, put a risk scoring on it based on the proven Altman Z-score metric with insurance, guarantee, and/or debenture for safety.
No doubt Populous will have a much harder time trying to penetrate larger market share with such strict requirement, but rest assured most (if not all) invoices that will be traded at Populous will be high-quality stuffs.

Wow what a post. Actually, I am not understanding all the thing you wrote. Some of them beyond my language and technical knowledge.

I hope paypie team read here and make necessary answers to things you pointed or just upgrade the project.

I am really looking forward to it. But thanks for your contribitiun. A good community don't just brag, it also point out the shortcomings.

[Mystic90]

the website is offline for me, are their any issues at the moment ?

Any updates on the ICO, (since i cant see it right now)

[pynetx]

the website is offline for me, are their any issues at the moment ?

Any updates on the ICO, (since i cant see it right now)

Working fine for me but throwing SSL certificate error. Admins should secure their website by using a valid SSL certifiacte.

[sockpuppet1911]

when to wait for the exchange of coins?

ICO not over and people start asking for exchange listings. Just give the team the time they need to developd a good product insead of waiting to instadump your tokens as fast as possible.

Well, that's how the market is now. People willing to invest waiting immediate returns. That's how it is, and it allows projects to raise important funds so they must play the game too.

In everiy ico that has ever been, there has been some amount of people looking for a quick 2x. And i can't blame them, waiting or learning technical analysis is hard.

[Frank37]

the website is offline for me, are their any issues at the moment ?

Any updates on the ICO, (since i cant see it right now)

ICO is in 11 days 4 hours, no update needed.
But I guess you mean the presale, no update so far.

[cantdecide]

the website is offline for me, are their any issues at the moment ?

Any updates on the ICO, (since i cant see it right now)

ICO is in 11 days 4 hours, no update needed.
But I guess you mean the presale, no update so far.

Still time for the pre-sale update. But I wonder if it is just a short announcement, one day sale and then go on to the ICO maybe?

[Elkmar]

Its a mess one, big mess costly too until u win the court hearing,if u win in the first place ..Legal system all around a world is messed up,complicated as f*&$ maybe paypie will influance and fill a gap in legal system,at least we can hope for that :d

Sorry I did some addition info to my original post before your quote.
Yes, they are fucking messed up, but remember PayPie is an accounting software vendor working on blockchain-based.
It is not a legal firm and cannot be assumed to have the right competency.

Actually, the company that created the project is a legit software accounting company with many years of experiences, so yeah, they have all the competencies for a project like this, they know the market and know what it needs to be improved.

Exact: the existence of a legit company is a huge plus (see OMG...)

I saw your post on Elix, and read others: your are truly one of the fews here with common sense and understanding of the crypto markets.
I am glad to see you on PayPie and Napoleon, both ICOs I am looking to at the moment.

Cheers.

And if you take into account the arrival of Antonio in the team, it brings a lot of trust into the project. Quite hard to imagine that this project is a scam right now, and they covered some conferences.

[ubercool]

the website is offline for me, are their any issues at the moment ?

Any updates on the ICO, (since i cant see it right now)

ICO is in 11 days 4 hours, no update needed.
But I guess you mean the presale, no update so far.

Still time for the pre-sale update. But I wonder if it is just a short announcement, one day sale and then go on to the ICO maybe?

If thats the case then it will be tight as there will be a good amount of competition for the buying and discounts will attract more crowd.

[bitsurfer2014]

the website is offline for me, are their any issues at the moment ?

Any updates on the ICO, (since i cant see it right now)

ICO is in 11 days 4 hours, no update needed.
But I guess you mean the presale, no update so far.

I'm pretty sure many investors are excited and gearing up for PAYPIE's ICO becuase this is one of a kind and one of the best crypto project in 2017.

[Elkmar]

the website is offline for me, are their any issues at the moment ?

Any updates on the ICO, (since i cant see it right now)

ICO is in 11 days 4 hours, no update needed.
But I guess you mean the presale, no update so far.

I'm pretty sure many investors are excited and gearing up for PAYPIE's ICO becuase this is one of a kind and one of the best crypto project in 2017.

Well, it's the presale which interest me, I would like to know about the bonus we will have if there is one.

[stormcleric]

the website is offline for me, are their any issues at the moment ?

Any updates on the ICO, (since i cant see it right now)

ICO is in 11 days 4 hours, no update needed.
But I guess you mean the presale, no update so far.

I'm pretty sure many investors are excited and gearing up for PAYPIE's ICO becuase this is one of a kind and one of the best crypto project in 2017.

Well, it's the presale which interest me, I would like to know about the bonus we will have if there is one.

No presale available, just the ico at a price of 1 PPP = 0.0011 ETH. At least it does not appear in the charts.

[alphashotgun]

Actually, the company that created the project is a legit software accounting company with many years of experiences, so yeah, they have all the competencies for a project like this, they know the market and know what it needs to be improved.

Sure, I believe the company is legitimate too. No doubt, there is no issue of scam. But this is not my point.
Every transaction involves risk, and a mechanism needs to be in place to significantly reduce, if not eliminate, such risk.
So far I really don't see any mechanism in place to deal with such risk.
Like I said before, it means nothing to do risk scoring and/or KYC on the SMEs selling the invoice, because they are not the weakest link.

PayPie is basically just trying to indirectly monetize its SlickPie customer base through blockchain.
Everything else is hype.
No doubt its customer base may grow.
But the issue here is the quality of the invoices that will be traded at PayPie market/platform/exchange.
How will PayPie try to prevent and/or recover any default?
Sure all transaction has risks, but if no mechanism is in place to reduce the risk, then you can bet things will 100% go out of control.
I say it again, risk scoring and/or KYC on the SMEs are irrelevant.

Edit:
The kind of competency I meant relates to legal competency, not accounting software competency.

Edit #2:
Waiting for the SMEs' invoices to default (and cause token holders to lose money) before we know who to stay away from, is a very bad approach.
If 1000 of SlickPie's customers unknowingly submit $100,000 worth of invoices to sell that will end up default, that translates to $100 million of loss.
And without any mechanism in place to enforce the quality of invoices to sell, SMEs (regardless of their credit scores) will naturally try to sell the ones with lowest chance of recovery.
And the worse part of PayPie's mechanism is that such junk invoices will actually be sold based on bidding process (!) as if the bidders would know any better.

Edit #3:
What makes Populous stands out is that there is no transfer of ownership of the invoices (unlike PayPie) and so the SME will still have obligation to do the recovery for the buyers.
And Populous shifts the weakest link from the entity-debtor to the SME-seller, put a risk scoring on it based on the proven Altman Z-score metric with insurance, guarantee, and/or debenture for safety.
No doubt Populous will have a much harder time trying to penetrate larger market share with such strict requirement, but rest assured most (if not all) invoices that will be traded at Populous will be high-quality stuffs.

thanks for all the details!!!!

[Wapinter]

Check your emails
 Full content of the email:
edited
Greetings!
 
Just dropping by to share some relevant info, videos, and articles with you guys. If you've seen it already, awesome. If not, jump right onto it and catch up with some legit feedback from the experts.

First things first, the pre-sale date will be announced within 48 hrs!

Reminder: join us on Telegram now and don't miss on any updates.


So here you go:

Videos

Clif High and Jsnip4 - https://youtu.be/xMJ-gSKP-wM?t=7640

Mike B - https://www.youtube.com/watch?v=bcJNyJ5H9Cc

BTCBusinessconsult - https://www.youtube.com/watch?v=lM4f2EDMZjA

Articles

Huffington Post - http://www.huffingtonpost.com/entry/why-blockchain-accounting-is-your-best-bet-in-financing_us_59adb488e4b0c50640cd6133

TokenMarket - https://tokenmarket.net/blog/paypie-introduces-worlds-first-credit-risk-assessment-based-on-blockchain-accounting/


Also, PayPie was just featured on Clif High's latest report published today! If you're a fan, check it out!

Very Important Hint: if you have any tokens just sitting around and waiting to be traded to buy PPP, do it now! The time is now! Be ready

PS - Our only official website is https://www.paypie.com/

From now on, don't trust any emails you get unless they come from the help@paypie.com address (like the email sender address showing up on this email you're reading right now).

Cheers,
 
Yohan Varella
CMO

[Korsakopf]

Hi guys, a nice positive boost for the project. You were mentioned in Clif High's report, he was quite positive about the project. He is a very well respected cryto analyst.

Great news, I respect his opinion. Where can I find complete information?

It is in a report you have to buy: https://www.halfpasthuman.com/Hph_reports.html he mentions several promising ICO's. I don't want to post exactly what he said here since that might be plagiarizing  But he mentions several positive aspects, like the qualifications of the founders. They are people who have been in the accounting sector for a long time and with Slickpie have a client database.

[SEELE^^01]

https://www.youtube.com/watch?v=xoxoSuCohNA

everyone, please check out clif high's report on paypie it is a very nice video and there are some good questions in there, too !

[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...

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.

so there it is a date,15th october is ok for me i have time to organize me for investment and don t miss the bonus,i will invest from the first day...

[Mystic90]

the website is offline for me, are their any issues at the moment ?

Any updates on the ICO, (since i cant see it right now)

Working fine for me but throwing SSL certificate error. Admins should secure their website by using a valid SSL certifiacte.

Works again now. For sure never visit a website that doesnt have SSL certificate, quite dangerous for your own security. Probably they had some issues, i did not get the SSL error
when i just visit their website

[Rigorous]

And if you take into account the arrival of Antonio in the team, it brings a lot of trust into the project. Quite hard to imagine that this project is a scam right now, and they covered some conferences.

It is not a scam, but a legitimate business with high profile team members can still have weak spots.

Remember, there are 3 parties involved.

1) SME = Invoice sellers = small and medium enterprises
2) Token Holders = Invoice buyers = lenders who pay the SME in advance in return for their invoice
3) Customer companies = Invoice debtors = whom the token holders have to get money from

PayPie's credit risk algorithm seems to be mainly focused on the SMEs, who are connected through their software to the PayPie platform, instead of the customer companies, who may not be on the PayPie platform yet poses the most risk to the token holders.

Still, PayPie's whitepaper mentions the customers companies a couple of times:

We know their customers, vendors, income, expenses, and money in the bank as live bank feeds pull data on a daily basis.

You will have best possible financial data on the companies whose invoices you are buying and their customer companies who owe you money.

But as Dorky said before, PayPie's risk management of the customer companies is primarily data driven, not legally enforced or insured.

It seems to boil down to "These customers paid the SME in the past, so they are likely to eventually pay this invoice too. You can pay the SME in advance if you do not mind waiting to get you money back including interest. Disclaimer: we do not guarantee you will get your money back without dragging them to court."

So I think it would be a good idea if PayPie could address some of these concerns.