[ANN] PayPie - Blockchain-Powered Risk Assessment - page 237.

ubercool

hero member

Activity: 1078

Merit: 504

Quote from: Piggy on August 30, 2017, 03:01:28 AM

Quote

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.

is there some way to prevent a company making fake transactions with other parties that will just have the purpose to give a positive rating to boost the trust rate?

This has to be implemented, someone has to authenticate whether it is an actual trust or the companies being mutual towards each other and selling trust. Because we have seen something like this in the past everywhere.

Piggy

hero member

Activity: 784

Merit: 1416

Quote

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.

is there some way to prevent a company making fake transactions with other parties that will just have the purpose to give a positive rating to boost the trust rate?

mexi.db

full member

Activity: 532

Merit: 102

Quote from: magisterr on August 29, 2017, 06:44:03 PM

Quote from: mexi.db on August 29, 2017, 05:35:24 PM

Quote from: milenium on August 29, 2017, 03:32:40 PM

Quote from: NickChandi on August 09, 2017, 11:38:56 AM

PayPie has data better than banks on the financial health of a business which is very valuable for lenders, investors, banks and other financial institutions, auditors, reviewers etc.

Where did you get the "BETTER" data. You still do not have a service. You bought from someone this data?
I just do not understand how you can have better data, banks exist for 20-50-100 years, they have huge amounts of data.

It's true that banks have access to a long history and large amounts of data, but that data may not necessarily be accurate.
PayPie brings transparency to the financials of business by introducing triple entry accounting. Each journal entry and transaction will be hashed and time-stamped on secure blockchain giving PayPie better visibility than banks into the financial health of a business that can be used to make a faster decision on lending. Results are expected to be absolutely accurate one single ledger is in place and there would be no room for manipulation. Besides, PayPie already has a working accounting platform in SlickPie with a growing consumer base, and hence access to data.

They have ready platform before crowdsale? Really? Can you give me link please to their platform. Where they using platform?

Hello, you can check out SlickPie at https://www.slickpie.com

the_donald

full member

Activity: 588

Merit: 100

Quote from: gawajn on August 29, 2017, 03:10:23 PM

I dont see any bonus for early buyer of the coin. Is there any bonus planned and will the presale have several rounds?

I would also like to know this. It's important to incentivize early contributors.

SEELE^^01

full member

Activity: 952

Merit: 137

if i compare this to hero token, it is nearly the same on the ground, but not on the surface.

hero token does use the blockchain to, to build up a creditscore and credithistory for the customer, for their pawnshop system and also for the banks out there.

paypie, does the same, from what i read in the whitepaper. just its target are more the business sector.

niklasmato

sr. member

Activity: 616

Merit: 263

Quote from: LifeOfDoge on August 30, 2017, 01:51:38 AM

Quote from: pynetx on August 29, 2017, 11:26:42 PM

Quote from: Trrrt on August 29, 2017, 08:28:59 PM

Yes the application will be very great, credit risk need to be improved by a blockchain, its a huge market and if PAYPIE can offer us a way to manage the enormous amount of data and manage them to have a nice working risk algorithm analysis, the value of PAYPIE will be totaly incredible. Don't forget that bank start to trust in crypto, if the algorithm work very well, maybe bank will need PAYPIE in few years. And if it is true, the value will be so high ...

Agree. Paypie is a great thought and project. Banks and all financial institutions will need them. So, better act sooner than later.

I would not be so sure about banks as those will probably develop their own system, but I can see potential for institutions without developing teams.

I think a service like this can be very good for independant money lenders and incasso offices just to name a few. Banks have a central system as far as i know.

Cauchy

full member

Activity: 364

Merit: 100

Is there any commitment from banks, insurerers or etc. to use the data you supply? How is the roadmap for targeting the users and generate Revenue streams? thanks and good luck with the Project.

LifeOfDoge

full member

Activity: 182

Merit: 100

Quote from: pynetx on August 29, 2017, 11:26:42 PM

Quote from: Trrrt on August 29, 2017, 08:28:59 PM

Yes the application will be very great, credit risk need to be improved by a blockchain, its a huge market and if PAYPIE can offer us a way to manage the enormous amount of data and manage them to have a nice working risk algorithm analysis, the value of PAYPIE will be totaly incredible. Don't forget that bank start to trust in crypto, if the algorithm work very well, maybe bank will need PAYPIE in few years. And if it is true, the value will be so high ...

Agree. Paypie is a great thought and project. Banks and all financial institutions will need them. So, better act sooner than later.

I would not be so sure about banks as those will probably develop their own system, but I can see potential for institutions without developing teams.

Voltaje

sr. member

Activity: 350

Merit: 250

Quote from: Islapdonkey on August 29, 2017, 11:40:34 PM

Quote from: Yasemin on August 29, 2017, 09:11:03 PM

Ive read the whitepaper and have a question about this project. I understand that Paypie is creating a decentralized accounting platform for business and the target audience for the tokens are on business level (insurers/banks etc.) The tokens are used on this platform if im correct. Does that mean for a normal consumer the tokens are not interesting, because you cannot use it?

The normal consumer will have varied use for the coin but ultimately the service been rendered is suited more for business and bank. Those are the establishment that deals frequently in credit risk management. So it makes sense that they will market to that demographic

The good thing is that banks will and big companies could use the technology, but the bad part, I think, is that you are asking people to buy the tokens, normal people will not have much use of it in anything but dumping and cash out, so perhaps I'm still missing something, the token can have HUGE value, but we need people that REALLY need it for it to be traded, perhaps you could target medium and small companies? that will increase its mass adoption, or maybe I still don't' understand it much, and I'm complaining about nothing, anyway, regardless, this is a VERY interesting project, I really hope you do well.

Islapdonkey

sr. member

Activity: 882

Merit: 277

If i had a dollar for every "had i known"

Quote from: Yasemin on August 29, 2017, 09:11:03 PM

Ive read the whitepaper and have a question about this project. I understand that Paypie is creating a decentralized accounting platform for business and the target audience for the tokens are on business level (insurers/banks etc.) The tokens are used on this platform if im correct. Does that mean for a normal consumer the tokens are not interesting, because you cannot use it?

The normal consumer will have varied use for the coin but ultimately the service been rendered is suited more for business and bank. Those are the establishment that deals frequently in credit risk management. So it makes sense that they will market to that demographic

pynetx

sr. member

Activity: 798

Merit: 262

Quote from: Trrrt on August 29, 2017, 08:28:59 PM

Yes the application will be very great, credit risk need to be improved by a blockchain, its a huge market and if PAYPIE can offer us a way to manage the enormous amount of data and manage them to have a nice working risk algorithm analysis, the value of PAYPIE will be totaly incredible. Don't forget that bank start to trust in crypto, if the algorithm work very well, maybe bank will need PAYPIE in few years. And if it is true, the value will be so high ...

Agree. Paypie is a great thought and project. Banks and all financial institutions will need them. So, better act sooner than later.

Yasemin

full member

Activity: 224

Merit: 100

Become Part of the Mining Family

Ive read the whitepaper and have a question about this project. I understand that Paypie is creating a decentralized accounting platform for business and the target audience for the tokens are on business level (insurers/banks etc.) The tokens are used on this platform if im correct. Does that mean for a normal consumer the tokens are not interesting, because you cannot use it?

lvsca

sr. member

Activity: 1792

Merit: 293

👉bit.ly/3QXp3oh | 🔥 Ultimate Launc

starting revolution in accounting industry using blockchain, more secure.
i think, blockchain technology must be applicable in many sector, such as accounting. and, PayPie has starting it.

Trrrt

full member

Activity: 448

Merit: 107

Yes the application will be very great, credit risk need to be improved by a blockchain, its a huge market and if PAYPIE can offer us a way to manage the enormous amount of data and manage them to have a nice working risk algorithm analysis, the value of PAYPIE will be totaly incredible. Don't forget that bank start to trust in crypto, if the algorithm work very well, maybe bank will need PAYPIE in few years. And if it is true, the value will be so high ...

Piggy

hero member

Activity: 784

Merit: 1416

Another aspect of this project we need to keep in account in order to have success is the simplicity. This is going to be a key aspect if you want to attract medium to small investors. Things can easily get complicated when you plan for an investment and sometime people prefer to have a person to speak to, persuading them is the is the right choice.

areschen

full member

Activity: 392

Merit: 100

Accounting industry need blockchain innovation, this project looks great

Coin_trader

copper member

Activity: 2800

Merit: 1179

Leading Crypto Sports Betting & Casino Platform

The concept is very good but it is a long-term investment if my understanding is right, kindly guide my thoughts about this:
After the sale and the tokens has been allocated, there is a frozen period of 12 months, so there will be no movement? no trading will occur since we can not transfer the tokens and yet no more gains will be given until the 12 month-freezing period is finished?

Mystic90

full member

Activity: 154

Merit: 100

Interesting project to say the least. Is the credit risk alghorythm already done? I can see you have an extensive team, but I only see 1 dev? Will you outsource for more devs? Are you hiring more devs or do you think that Mr Kumar should be able to handle the workload?

I will be keeping an close eye on this project before I invest, but you have my attention

Goodluck

Islapdonkey

sr. member

Activity: 882

Merit: 277

If i had a dollar for every "had i known"

When i think of a blockchain accounting platform, I think of milk on ice cream. After-all a block-chain is technically an accounting of information.
Well, back to my silly analogy. So, each is good on its own (referring to milk or ice-cream) but when utilized together, you have gooey heaven. Hopefully, am not the only one that really loves milkshake. maybe am just hungry. either way combining the two ideas presents great opportunities.

magisterr

sr. member

Activity: 1372

Merit: 259

Quote from: mexi.db on August 29, 2017, 05:35:24 PM

Quote from: milenium on August 29, 2017, 03:32:40 PM

Quote from: NickChandi on August 09, 2017, 11:38:56 AM

PayPie has data better than banks on the financial health of a business which is very valuable for lenders, investors, banks and other financial institutions, auditors, reviewers etc.

Where did you get the "BETTER" data. You still do not have a service. You bought from someone this data?
I just do not understand how you can have better data, banks exist for 20-50-100 years, they have huge amounts of data.

It's true that banks have access to a long history and large amounts of data, but that data may not necessarily be accurate.
PayPie brings transparency to the financials of business by introducing triple entry accounting. Each journal entry and transaction will be hashed and time-stamped on secure blockchain giving PayPie better visibility than banks into the financial health of a business that can be used to make a faster decision on lending. Results are expected to be absolutely accurate one single ledger is in place and there would be no room for manipulation. Besides, PayPie already has a working accounting platform in SlickPie with a growing consumer base, and hence access to data.

They have ready platform before crowdsale? Really? Can you give me link please to their platform. Where they using platform?

Topic: [ANN] PayPie - Blockchain-Powered Risk Assessment - page 237. (Read 109500 times)