Topic: [ANN] POPULOUS WORLD - Invoice trading platform - PPT - page 101. (Read 277232 times)

I disagree with you. Populous team take wrong decision for sure, as release bate a big chance to test populous platform security,function etc..

I was secretly hoping for this delay to happen.
It would be to our disadvantage to release it now. Here's why:
- These weeks of crypto FUD / news is exhausting everyone, and taking the wind out of alts.
- Bitcoin correcting these weeks is sucking up investor focus out of crypto.
- The Chinese new year at 17th of February is a yearly sell-off and buyback frenzy, better to wait that storm out.
- The problems with the website security (ssl, https) is not worth rushing, let's wait for optimal security.
- Extra exchanges would help wider adoption/investor interest, bithump is coming, open source smart contract would possibly get us to bittrex. Also exchanges are having new user stops/waiting lists. Let Binance and others get their user numbers up for a few more weeks.

If we wait these obstacles out, and ride the wave after these February obstacles pass, we'll be in bull-heaven.

It seems that to go up to $15000 it still takes quite a while, bitcoin will touch $5000 this week if all panic sells.

We never doubt that bitcoin prices will soon return $ 15k (of course PPT will over $100), decentralization is commonplace like this and I'm not surprised if bitcoin prices will reach the lowest price under $ 5000.

Allright, so I'm new to this stuff (bear with me!)

I am looking at various blockchain invoice finance platforms out there and I found Hive and Populous.

Can someone explain to me how what they do is different from guys like MarketInvoice?

When there is a transfer of ownership of the invoice (i.e. a "sale" of the invoice), then by definition the transaction must be factoring, not invoice discounting. Invoice discounting is a type of loan/financing that does not involve a transfer of title. The only exception in the world is the UK, where invoice discounting/financing is basically the same thing as factoring. Here is a quote from Wikipedia https://en.wikipedia.org/wiki/Factoring_(finance)#Reserve_account:

Factoring is the sale of receivables, whereas invoice discounting is a borrowing that involves the use of the accounts receivable assets as collateral for the loan. However, in some other markets, such as the UK, invoice discounting is considered to be a form of factoring, involving the "assignment of receivables", that is included in official factoring statistics. It is therefore also not considered to be borrowing in the UK. In the UK the arrangement is usually confidential in that the debtor is not notified of the assignment of the receivable and the seller of the receivable collects the debt on behalf of the factor.

Now if you tell me that Populous is going to focus only on the UK market, which represents less than 4% of global GDP, then the transaction steps they've outlined make sense. In the rest of the world, which encompasses more than 90% of the global opportunity, the transaction as described by Populous will not work. In the USA for instance, non-notification factoring represents only 12% of the total pie, and is only available to larger companies under long term contracts and based on a pool of receivables (never one-off transactions). In addition, the due diligence that invoice sellers are put through under non-notification/confidential factoring is akin to bank lending; it's thorough and complex, thereby expensive to do.

The way that Populous imagines these transactions is completely ridiculous, and provides no protection for the invoice buyers. You mentioned that under the Populous model, the sellers will pledge corporate assets while company directors are to give personal guarantees... do you really think that Populous will pay the costs involved in international litigation to recover against sellers based outside of the UK? I doubt they will do that even inside the UK, as enforcement of these types of pledges is very expensive from a legal standpoint, and wouldn't work for any facility of less than $150,000-200,000. Again, for these transactions to work, the buyer of the invoices needs to take control of the repayment from the ultimate customer. Under Populous' current model, there isn't even a notification mechanism for the invoice buyer to be informed when the invoices have been cashed out... how then is the buyer supposed to know whether non-repayment is caused by debtor default (so that credit insurance can be invoked) or by the seller's non-compliance (so that legal action can be taken against the pledges) It makes zero sense.

Shock....could be a new Bitconnect this

Shock....could be a new Bitconnect this

PPT is one is the most ambitious projects on the market. Verry promising in my opinion Bitcoin is down to 8k - 9k so naturally that will drag the usd valuation of everything down. PPT has actually been outperforming Bitcoin for some time now. If bitcoin were back toward 15k (and i think it'll bounce back there verry soon) PPT would already have a valuation well over $100USD

Shock....could be a new Bitconnect this

no, nico said they need another month.

LoL ok if that's the case then I'm out of Populous haha, fkng joke

no, nico said they need another month.

Kidding me?

the launch of the beta will take a month. source: slack