The ABC of the Populous Cryptocurrency

Financing for the acquisition of a particular asset is difficult to obtain, banks usually take weeks or even months to approve the application for a loan, this is also known as factoring and it is because of this problem, where Populous appears which is a project that will unite diverse investors and lenders, in a single system, which will allow to request a loan, be much simpler and faster.

What is Populous? Everything you need to know about this ingenious project

The Populous project grows with the objective of providing entrepreneurs of SMEs (small and medium enterprises) the financing of p2p (peer-to-peer) bills for their projects, which is possible through the use of a factoring Blockchain.

The Populous platform is available to be used globally, without any limitation, this will allow you to make purchases and sales of invoices from anywhere in the world, either from the United States, Spain, China, or other countries, as long as it is used the digital currency PPT (which is the cryptocurrency belonging to Populous).

Populous is known as the project in general, but the cryptocurrency is called PPT, which will be managed on the Populous platform by the owners of the SMEs, and the investors. Those who are responsible for financing projects within the platform, will have the opportunity to make smart contracts with the owners of SMEs, to secure their assets.

One of the benefits that the Populous project brings to the SME lenders is the possibility of acquiring invoices at a reduced price and thus guaranteeing a profit for the lender, without mentioning that the contracts oblige the borrower to pay the loan , regardless of the results obtained by your company.

What is factoring?

The factoring is the financing to an entrepreneur of an SME, made with the purpose of improving the economic status of said entrepreneur, so that he can continue with the project. Usually these negotiations are usually carried out by the banks, these entities make a contract with the entrepreneur, where a contract is established that will last in time until the entrepreneur cancels his debt.

The contract mentions that, if you do not pay the amount established before the time mentioned in the contract, a tax will be initiated that you will have to pay annually or monthly, until you finish paying the loan and the interest on it. Everything varies depending on the entity with which the contract is made.

Populous will be responsible for establishing the futures contract using Blockchain technology, to facilitate the search among lenders and entrepreneurs.

In addition to this, waiting for a loan request will be null, since in the banking institutions an application must be made and then attend an appointment with a manager and wait for them to "approve" the request (which in in most cases this is rejected if the entrepreneur has a small company), by this means the entrepreneur will personally look for a lender interested in supporting him with his project and the platform will be responsible for making the contract quickly and safely .

Properties of the Populous project

The stability of a project and its evolution is mainly due to the characteristics it possesses, if the system created has acceptance by the majority of society, it will evolve and will be in constant improvement, therefore, the Populous project took charge of unite those characteristics that are most important for buyers and sellers of invoices, which are:

Billing speed
Low shipping commissions.
Financing P2P invoices globally.
Unbreakable security.
Database in real time.
Risk analysis.

In the Populous platform there is a high approval speed for the projects of the investors, that is to say: the speed in which the billing financing is conceived to the owner of the SMEs is almost instantaneous.

It is also important to highlight that the transactions made or payments with the PPT cryptocurrency, have a minimum commission fee per transaction, adding that for each collection and payment that is executed, a new intelligent contract will be initiated that will be autonomous, thus taking a record of events.

Goals for the future: Where does the Populous project go?

This project has as a future objective to transform the scope of the financing of invoices, which currently have banking entities, in this way there will be a much more democratic financing method available to the entrepreneur.

The Populous project is using the Blockchain technology of Ethereum, in order to achieve a transparent security system, thus ensuring the prevention of possible errors in the system or misuse of it, due to the implementation of this medium data can be stored of invoices autonomously, be it financing or sales.