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Topic: [ANN] PayPie - Blockchain-Powered Risk Assessment - page 228. (Read 109500 times)

full member
Activity: 686
Merit: 101
You had me at single ledger approach..... But, seeing as how making a decision based on one clever line of text would be irresponsible at best. I took a deeper look into this, overly technical, white paper. It's great to be thorough. My opinion, for what it's worth, is you should stay away from repetitive descriptions and make sure your investors don't need Academic knowledge in Fin-tech. I read white papers every day. It's part of my job. I find it a more enjoyable experience when I want to read through the white paper again, not when I have to, to understand it.

I agree. It is really hard to understand the technical aspects as an non technical orientated person. That's maybe a problem for me (and probably a lot of other ppl) which could be interested in the project topic but then don't understand it enough and will go on to the next project, because they then know what they invest in.


You are right, the whitepaper is quite technical and for someone, like me, who has no knowledge about the topic its pretty hard to understand. But I do understand that it can be a fine line between a too technical and a oversimplified whitepaper. That's where such a thread like this comes into place, where we can ask and the developers can do an ELI5 for people like me Grin
sr. member
Activity: 980
Merit: 276
$CYBERCASH METAVERSE
I just found out there's a bounty program for PayPie, I didn't see it before.

https://bitcointalksearch.org/topic/bounty-paypie-credit-risk-assessment-based-on-blockchain-accounting-2074162

Multiple rewards are being offered.



Thanks for info, i didn't see it before. It will be my first signature and avatar bounty. I believe this project will make my time worth Smiley


Of course can't use avatar cause of my rank Sad
sr. member
Activity: 882
Merit: 277
If i had a dollar for every "had i known"
In how many country is the system compatible by law to operate? I know there could be issue about the nature of the information.

Almost every country which exists has this system of credit score. Some of them may call it with different names like in India it's called CIBIL score.

I'm not aware of such central credit score thing in Europe. I might be wrong.
I know there's a central bank system that checks if you have unpaid loans but that one you can erase yourself from.

Every country utilize a certain form of analysis to determine credit worthiness. How else do you think individuals/businesses are able to acquire loans? It's defintely not because an applicant has a great smile or posses a witty personality. so yeah, no matter where you live, a form of credit analysis is in place.
full member
Activity: 168
Merit: 100
PAYPIE will enable live auditing, end duplicate tasks, speed up Credit approvals, and improve the overall credit scoring process by disrupting business accounting landscape. Big and interesting renovation.
legendary
Activity: 1162
Merit: 1011
I just found out there's a bounty program for PayPie, I didn't see it before.

https://bitcointalksearch.org/topic/bounty-paypie-credit-risk-assessment-based-on-blockchain-accounting-2074162

Multiple rewards are being offered.

full member
Activity: 336
Merit: 112
You had me at single ledger approach..... But, seeing as how making a decision based on one clever line of text would be irresponsible at best. I took a deeper look into this, overly technical, white paper. It's great to be thorough. My opinion, for what it's worth, is you should stay away from repetitive descriptions and make sure your investors don't need Academic knowledge in Fin-tech. I read white papers every day. It's part of my job. I find it a more enjoyable experience when I want to read through the white paper again, not when I have to, to understand it.

I agree. It is really hard to understand the technical aspects as an non technical orientated person. That's maybe a problem for me (and probably a lot of other ppl) which could be interested in the project topic but then don't understand it enough and will go on to the next project, because they then know what they invest in.
sr. member
Activity: 616
Merit: 263
In how many country is the system compatible by law to operate? I know there could be issue about the nature of the information.

Almost every country which exists has this system of credit score. Some of them may call it with different names like in India it's called CIBIL score.

I'm not aware of such central credit score thing in Europe. I might be wrong.
I know there's a central bank system that checks if you have unpaid loans but that one you can erase yourself from.
sr. member
Activity: 518
Merit: 250
Project looks interesting and it was only a matter of time till someone brings the benefits of the blockchain in use. I'm just not 100% sure why a PPP token is needed. Wouldn't it be possible to access the PayPie platform by just paying for it (with BTC for example)?
PPP tokens will be required to interact with the smart contracts on which the PayPie platform will be built. PPP Token is the utility token which provides access to the PayPie platform for certain transactions and services. Each PPP Token grants the holder the right to access certain services including the purchase of invoices and access to credit histories of SMEs.


What happens with the tokens spent to access the platform? Does the company keep them? Resell them?
It depends of situation. If you will be paying directly someone for his/her services tokens will be send to this person. In other case token will be property of PayPie platform.
sr. member
Activity: 798
Merit: 262
Project looks interesting and it was only a matter of time till someone brings the benefits of the blockchain in use. I'm just not 100% sure why a PPP token is needed. Wouldn't it be possible to access the PayPie platform by just paying for it (with BTC for example)?
PPP tokens will be required to interact with the smart contracts on which the PayPie platform will be built. PPP Token is the utility token which provides access to the PayPie platform for certain transactions and services. Each PPP Token grants the holder the right to access certain services including the purchase of invoices and access to credit histories of SMEs.


What happens with the tokens spent to access the platform? Does the company keep them? Resell them?

What happens to the money you give a shopkeeper when you buy goods? The same thing will happen here.
full member
Activity: 182
Merit: 100
PayPie is creating the first decentralized accounting platform for businesses that will provide real-time
insight into financial data to achieve 100% accuracy for a credit risk algorithm. This analysis will be
conducted using a single ledger approach and will consider businesses’ all-time historical financial data to
safeguard and transform the way credit risk is assessed by lenders, investors, banks and other financial
institutions while building a blockchain-backed accounting ecosystem. It will change the way to lend and give equal luck for persons.
full member
Activity: 588
Merit: 100
Project looks interesting and it was only a matter of time till someone brings the benefits of the blockchain in use. I'm just not 100% sure why a PPP token is needed. Wouldn't it be possible to access the PayPie platform by just paying for it (with BTC for example)?
PPP tokens will be required to interact with the smart contracts on which the PayPie platform will be built. PPP Token is the utility token which provides access to the PayPie platform for certain transactions and services. Each PPP Token grants the holder the right to access certain services including the purchase of invoices and access to credit histories of SMEs.


What happens with the tokens spent to access the platform? Does the company keep them? Resell them?
sr. member
Activity: 882
Merit: 277
If i had a dollar for every "had i known"
In how many country is the system compatible by law to operate? I know there could be issue about the nature of the information.

Almost every country which exists has this system of credit score. Some of them may call it with different names like in India it's called CIBIL score.

Well, that the interesting aspect about blockchain decentralization. It's breaks down borders and creates a cohesive marketplace. So for example, a company/individual in India could easily apply for a loan with a company based in Canada and since their credit worthiness is easily verified with Paypie, there won't be any restriction due to differing locale regulations.
full member
Activity: 518
Merit: 101
🚀🚀 ATHERO.IO 🚀🚀
I am not so good with this extrem technical stuff, but I have a question about your project.

You stated that the PPPs are used for accessing the PayPie Platform, paying on the Marketplace etc. These are currently options just for the interest of companies, which need to wage the risk of their clients. Will there be a field of application for normal user like me? Or is the "only" value for individuels the potential value rise?

Wish you good luck with the project Smiley

same here but  i think this is a good sign this means they have a qualified team and thought about their project not like some other  Roll Eyes ico's where i read it: and i'm like wth? not because i can't understand but because of wtf why or just lol

The field of application for regular PPP token holders like you is that you'll be able to participate in the PayPie pool. The pool will buy invoices at a discounted rate & provide SME with the money within 24 hours while waiting for the customer to pay the pool original amount as per the term sheet. Once the lending process is complete, the original amount you invested is returned to you + net profit.

What will be the approx. discount rate? Is it fixed? Or depending on e.g. credit score, etc.? 
full member
Activity: 532
Merit: 102
In many scenarios companies have to prove the viability and legality of their account , register ect.... And it's not always easy to prove all these kind if things but with an infrastructure like PAYPIE it will can become easier.

Agree with you on that but the reliability of the algorithm is still questionable.
They should give some demo of the platform showing it's reliability.

Status and several other ICO'S millions without a working prototype. Been 50% complete is ahead on the game in this space. It would be ideal to have a demo for the public but in the crypto world, things operate a bit differently.

Well, I didn't invest in status and several other million ICOs. I am not asking for a complete platform. Just a demo or demo video would be nice like centra did. Just a showcase video of the working platform.
It helps in gain trust of the people who are not just here for money but for tech also.

The entire PayPie platform isn't complete yet. But you can watch the explainer video on the site https://www.paypie.com/
You can also try out Slickpie which is Paypie's core accounting platform at https://www.slickpie.com/
full member
Activity: 532
Merit: 102
You had me at single ledger approach..... But, seeing as how making a decision based on one clever line of text would be irresponsible at best. I took a deeper look into this, overly technical, white paper. It's great to be thorough. My opinion, for what it's worth, is you should stay away from repetitive descriptions and make sure your investors don't need Academic knowledge in Fin-tech. I read white papers every day. It's part of my job. I find it a more enjoyable experience when I want to read through the white paper again, not when I have to, to understand it.

Thank you Chris for your feedback. the team is well aware of this and is currently working on a better whitepaper and a blog to fix this challenge
sr. member
Activity: 462
Merit: 250
done joining to your facebook campaign.

i will use your signature when the campaign will start. thank you.
full member
Activity: 154
Merit: 100
Been waiting for this one to get posted!This made me curious to keep following future development anyway.
sr. member
Activity: 798
Merit: 262
In how many country is the system compatible by law to operate? I know there could be issue about the nature of the information.

Almost every country which exists has this system of credit score. Some of them may call it with different names like in India it's called CIBIL score.
legendary
Activity: 1229
Merit: 1001
Just took a look at this project looks very interesting will keep an eye on this one.
I like that more projects are using Ethereum
sr. member
Activity: 350
Merit: 250
There are any competitors in sight?

the main competitor is just the old accounting system way of doing thins

Nope, I know that some others companies are thinking about triple entry accounting via the blockchain.

One example is Fizcal  Smiley

Yeah, Fizcal seems interesting as well. I've not decided yet which one I'm going to invest. Fizcal says that Ethereum won't be scalable enough for their need, but this project is going to use Ethereum. Would love to know what are PayPie's developers thinking about this? I know blockchain will revolutionalize accounting and if most companies start putting their data to Ethereum chain, this might be a lot of traffic.

However, this project looks a bit more professional to me.


Like I said before in the ANN, but I don't think I had an answer,  I think that the main argument of Paypie is the Credit Risk Algorithm to distinguish themselves from competitor like Fizcal. They really enhance the fact that with the blockchain they'll obtain the most accurate one possible.

And if we're talking about this, I don't know any competitor in the credit risk field using blockchain technology.

Is the credit risk algorithm already done? And more importantly is it proven? Can we see stats that it works, since it seems that this is a key feature of their product.
Is it possible for the devs to make a blog or youtube video about how the algorithm works? I am not technical enough to read a code of it.

I can't find that position on their roadmad but research is done so they should have it, it's a very important part.

According to the PayPie team, "The accounting framework of it is fully built and that’s the most demanding part. Our risk management team is currently working on the risk part and we are getting more and more comfortable with the data that we feed to the risk algorithm. We believe that we will meet the timeline that we have proposed in our whitepaper in advance."

Looks have a big dev team have multi stream to develop different part of this big system, looks great, looking forward it

The ethereal blockchain may be a little slow now that a LOT of companies are creating ICOs, thus a lot of congestions in transactions are happening, especially during ICOs, but ethereum will solve all of those problems when they go Metropolis, which should occur next year tops, when that happens, the blockchain will be VERY fast and better, so I think they made the right choice about ethereum, they could have used NEM, but NEM doesn't have a solid technology in smart contract yet to create the credit risk algorithm in it, NEM may be faster, but it's still behind if we compare to ethereum, I imagine they already made their investigation to decide which blockchain will meet their needs, so don't worry about it, ethereum is still the king of smart contracts Cheesy.
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