Topic: [ANN] POPULOUS WORLD - Invoice trading platform - PPT - page 336. (Read 277234 times)

Ok, thanks for the reply

Why you didn't answer me? :| i've asked two times if i can do the italian translation of the ann/whitepaper/website

Hi, will get this updated today. Thanks

Please add the translations to the OP guys!

We will issue fully audited certified accounts. Once we are in full operation swing, we will then put together a time table for our buyback program. On regards to issuing share certificates or Bonds, this is an interesting topic and will be addressed at a later date.

Thanks for your comment.

Interesting idea, thanks for the comment.

Thanks for your replies.

Two things are however to be clarified:

- PPT holders have no guarantee that business profits will be solely used to buy PPT coins back. You could envisage issuing a share certificate of the underlying company for all PPT holders and leave yourself the possibility of buying back those shares/PPT. Other solution, consider PPT holders as convertible bond holders with a detailed schedule of repayments and interest paid.

- The price of buybacks transactions. Again, a detailed repayment schedule & conditions would help

Your idea has a great potential but like most ICO it is unclear for the subscribers how they will benefit from the underlying business.

If Populous™ merge with Chronobank™, this will be the most epic move in crypto since segwit was introduced. Please Dev look into this asap and carefully.

Hi, yes that's right. The two primary sources of income will be -

A. Commission charged to borrowers and lenders on the platform
B. Conversion of Pokens to fiat - 0.5%

The commission for A. is determined on what the credit check comes back with in regards of the invoice seller and their customer. This will range from 1.5% for a blue chip company who has a clear history of paying it suppliers, right down to 3%. There will also be an additional charge of 0.5% levied on investors who successfully win bids on invoices.

We will return all profit to PPT holders. If circumstances change that require us to retain funds for operational expense then we will inform PPT holders before hand.  No ICO funds will be used for buybacks. The frequency of buybacks will be determined at a later date. Our CFO will deliver at the end of our financial year a full audit financial statement for the viewing of PPT holders and non PPT holders.

Thanks for these detailed answer, appreciate them.

So am I understanding this right that there are two primary sources of income for the project -
A. Commission charged to borrowers and lenders on the platform (how much is the %)?
B. Conversion of Pokens to fiat - 0.5%

So does this mean you'll use all the revenues to purchase back and burn PPTs? Will you keep anything for operations and other expenses, or is this going to come from ICO funds? How frequent will be the buybacks? Are the revenues audit-able by the PPT holders?

Can I still join translation campaign?

Hi, I will try and make the answers as clear as possible.

1.  a)The sources of profit are from the commission charged to borrowers and investors who trade invoices on the platform. Not from trading of
    investors funds collected from the ICO.

    b) There will be an 0.5% charge to external users who wish to exchange Pokens for fiat currencies via Populous.

   We will by no means use funds invested from the ICO to trade invoices internally.

2. Profits are returned to investors in a way of repurchasing tokens and burning them, overall reducing the number of outstanding tokens in
    circulation. At some later date we will introduce other methods of distribution of profit for token holders.

3. The benefits of doing on the blockchain are:

    a) Cost- Overall reduction in cost associated with invoice finance and passing that on to both borrowers and investors.

    b) Efficiency - The whole process is automated to an extent i.e our smart contract auction/crowd-funding process. Which impacts the speeding up
    and processing of payments.

    c) Barriers to entry  - Using the blockchain allows for example: An investor from India with bitcoin or ether to trade invoices with
       someone from Denmark. This also allows investor to keep their anonymity which is one of the fundamental reason of building the platform on
       the blockchain.

   d) It is the choice of the Poken holder where they want to exchange their Pokens for fiat or any other crypto currency. The can do it with Populous
       or use any exchange of their choosing. We are not an exchange or try to be.
       We are not an exchange but an invoice platform but we are obliged to offer a service for borrowers and investors to convert Pokens back to
      fiat in their local currency.

    e) Transparency - Some investors or borrowers may want to prove actual events occurred.
    
    f) Duplicate invoicing fraud. By maintaining public ledger of asset transactions, this enables others in the industry not to refinance invoices that have currently being financed on the Populous platform

   4. In the near future we see Pokens being used for other various eCommerce and financial use cases and not just invoice trading. Currently at the
    moment I see a major use case for pegged tokens as an crypto token that offsets the volatility associated with other non pegged crypto tokens
   hence why we are able to create an invoice finance market place on the blockchain, but this can be extended to other types of short term property
   financing deals.

Hey - this is still a bit unclear.
1. What are the sources of profit for the PPT holders? Is it transaction fees for secondary trades, or do they make money in the primary market by assuming risk? Are the transaction fees or profits to PPT holders on both origination of a sale, and for secondary sale?
2. How are the profits returned to the PPT holders? Do you have a dividend or buyback? Are there details available on how profits will be shared? e.g. paid out in ETH every month or something along those lines.
3. I still don't fully understand the utility of doing this on a public blockchain. Seems like a convoluted way of pokens->fiat when it should just be possible for the parties to do this through a centralized exchange, since the money transfer is centralized anyway. What does doing this on Ethereum grant you?

Hi,
i've sent you an email for reserving the italian translation, let me know

Yes that is correct.

So what I have seen with some online invoice market places is that borrowers company identities are made available to potential investors before they actually proceed in the auction process of that borrowers invoice. Populous works in a similar way. Basically it is not possible to identify real-world identities of Poken holders via the internal or external wallet. The legal contract containing all parties to a successful invoice sale are hashed to the auction/crowdfunded smart contract and stored via IPFS.

Only the investor and invoice seller have access to the actual physical legal contract. It would be more like looking for a needle in a haystack if you were to try and piece together the identity of a borrower from a Poken trade without knowing or being apart of that trade. Plus you will still not be able to access the legal contract containing parties of the invoice sale. Secondly external wallet addresses are created by users themselves so we have no why of really knowing who owns an ETH address.

But if a user wants to cash out of his/her Pokens via Populous then identification is required at this point our KYC and AML policy come into place. Only transaction history of the flow of funds from the auction/crowdfund contracts is public. We built our system in a way that if an investor wants to remain anonymous through the auction/crowdfunding then that is possible, so long has they original enter the platform in an anonymous way i.e deposit funds via bitcoin or Ether.    

Did i understand correctly that all 50 bitcointalk bounty posts must be written by ICO date - 16th July 2017?

How easy would it be to link the transactions in Pokens to the real-world identity of the companies borrowing and lending. I ask because presumably some of them may want to remain anonymous. If they re-use a wallet, for example, all their history can be made public. Who are all the parties that have access to the information linking the ETH addresses to the real-world identities?

All trades on the platform will be made using Pokens, this makes the platform transparent to a high degree. So if an invoice goes through the platform for say $65,000 this will appear in the transaction log on etherscan. I assume in the future as more trades go through the platform and become more visible via etherscan, the true potential of the platform will emerge and in return demand for PPT will raise in accordance to the long term trading prospects of the Platform as well as profit we establish from overseas operations.