Topic: [ANN] PayPie - Blockchain-Powered Risk Assessment - page 99. (Read 109500 times)

There is actually a weak link in PayPie compare to Populous.

Populous has Poken for internal exchange, pegged to fiats; PayPie has Pie coin for the same purpose.

But there is one advantage Populous has that PayPie has not.

PayPie requires the SMEs to submit their financials to the blockchain in order to sell their invoices, but this is not the weakest link.
The weakest link is the company that owes the SME selling the invoice!
The SME has absolutely nothing to do with it if the company does not want to settle the invoice.
If I owe you money, and you issue an invoice for that, and you sell that invoice to Mr. Noob, and I choose not to pay you, you have no worries because you already got the money from selling the invoice.
It's the buyer (Mr. Noob) that will suffer if I don't pay.
The SME submitting its financials to the blockchain is completely irrelevant.
Putting a risk score on the SME that sells the invoice is also irrelevant.
Putting a risk score on the customer that owe the SME is also irrelevant, because ultimately the SME wants the business.
In a world of stiff competition, the SMEs have no luxury to cherry-pick which customer to sell to, regardless of their risk scores.
Many here claim to be accountants, but I am surprised why they can't see through this weak link.
This is a risk of default.
Populous already solved this from the very start.

Edit:
The factoring industry is lucrative, and that's because bulk of it is related to consumer debt (sold pennies on the dollar), not corporate debt.
And recovery is usually through persistent threats.
This won't work with corporate figures.

Lots of SMEs will love this because they can finally unload their junk invoices to gullible buyers willing to bid up the price for such junk.

For me this project looks like a big experiment. I hope that ICO will be a success and then in Q1 2018 we'll see the results. The business model looks promising and I'll be closely watching Paypie in 2018.

Not sure if we can immediately say that there will be no more mistakes, but the basis will be a lot more secure at least. The blockchain itself has proven that it's quite unhackable, but projects build on top of it can still contain flaws. With Equifax it really also was human error, didn't somebody have a super basic login/password?

Pretty much every recent project required you to hold coins long term since they usually dont have working platforms to show in the beginning.
I dont really like this trend but i guess you cant do it differently.

There are some open questions still. For example I thought the remark about collateral was interesting.

Will PayPie's credit risk score algorithm be enough to protect invoice buyers from defaults?

Who dares to be the first invoice buyer when the algorithm does not have enough data to base a score on, and how do you build up a credit score as an invoice seller who is just starting out?

How do I understand this will be something like a global ledger with the possibility to consult and obtaining financial information using their tokens?

At first they should start with small companies and after they got some reputation bigger companies will also start to use it.

There isn't much to say anymore, we're waiting for pre-sale announcement and 15th october for ICO start. If you want we can discuss on this maybe https://www.theguardian.com/money/2017/feb/14/credit-rating-remortgage-equifax-experian-callcredit .No more mistakes with PayPie

Looks like an interesting project, I will have a look at this in the next time. I will have a look at the team behind the project and I will do some other researches

So many posts in here without any value. Would be happy if people would bring back some challenging and constructive discussions into this thread again.

I also can offer more promotion on Twitter. My account is twitter.com/yeswepump and had 5500+ crypto followers

There is no doubt for me about it , this project has become very popular everywhere even before the crowdsale begins.

It would be better to think that PAYPIE has got the attention and interest of Anthony, that is why he is part of the team now

Just came across this one this week.

Great so far guys!  Would love to get involved in doing some more for you guys across social media.

Let us know if you're interested!

 

this is great. atleast they will be focusing on the project and not on the money they will be raised.

Yes, I agree, Paypie looks promising at the moment. But how exactly will grow their business only time will tell. I have some doubts that they will have a lot of customers in the beginning.

Indeed, dumping the coins after release on exchanges. Happens with every ICO and then.... after some weeks the price went x15 and then they keep banging there heads agains the wall

Paypie is a project for a long hold! Hold your investments and you will have a huge profit after some years.
This project is unique and will be added on exchanges soon after ICO

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.

sure when the ico end,the dev will plane to list it in some exchages :)do not worry

But this is different because it has a team with a lot of reputation, many other projects consist out of unknown people who don't lose reputation if the project fails.