Topic: [ANN] PayPie - Blockchain-Powered Risk Assessment - page 96. (Read 109500 times)

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

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.

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

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)

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.

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?

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.

yep, seems to be down. maybe they're updating the site for the ICO and traffic during peak hours.

Problem with the host.
Will be fixed soon so you can check the counttime timer again!

why does not their site work? https://www.paypie.com/
Something happened?

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.

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.

Yeah, Paypie's potential seems to be pretty good. I am planning to spare few ETH for crowdsale so, that I don't miss the train.

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.

Populous solved the risk of default thru insurance, guarantee, and debenture, making sure invoices trading in its platform/exchange is as good as investment-grade quality.

PayPie can adopt the same/similar solution but of course this will make PayPie more like Populous than PayPie itself.

In reality, every financial transaction has the possibility to fail and that is why business endeavor is called risk taking. Legal remedies is one way deterring other people from committing fraud. Or, is there any other way you can suggest?

Populous beats PayPie in this from the very start by introducing the requirement for credit insurance, director's guarantee, and company debenture.
I can assure you, having worked in banking and credit reporting agency in some part of my life, I can tell you these requirements are super solid stuff in preventing defaults.
While Populous is an invoice trading platform, it also employs the proven risk scoring metric that is Altman Z-score to evaluate the SME's financial health, check it out yourself.
The metric is proven to work with pretty high accuracy; there is absolutely no need for some unverified "most accurate" risk scoring metric/algorithm to do the same job.
Populous extracts SME's financial information from public official sources submitted by the SMEs themselves, so the info is as legitimate as it can get.
By using insurance, guarantee, and debenture on the invoice, Populous is shifting the weakest link from the entity stated in the invoice to the SME that sells it, and also legally securing it as well at the same time.
So any SME can sell its invoices, regardless of investment-grade or junk, safely with very low risk of default.
Populous is doing everything right.

I have experience in banking and credit reporting agency as part of my working past.
While attached to a credit reporting agency, I got to meet with countless directors and business owners sharing their stories with me on debt recovery and its problems and I can tell you its far more complicated than you think from the outside.

Yeah but maybe this accounting software will evolve to something bigger or quickens the court hearing time when it gains creditability ..Still crypto is just starting to influance the other spheres who know what projects like paypie can accomplish in long run

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.

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