Review on Populous by Fanuel PORPORTY
What is Populous?
Populous is a peer-to-peer exchange project that uses blockchain to provide small and medium-sized enterprises (SMEs) a more efficient way to pay their bills. Having enough cash to be able to meet all of its expenses is a recurring problem for SMEs. Companies of this size generally have fairly limited net working capital and must request additional time to be able to pay supplier invoices. In most cases, paying a bill with a delay is more expensive than paying it immediately.
The Populous project wants to offer the possibility to actors external to an SME to be able to take care of certain invoices in exchange for more advantageous costs for the SME. When an invoice is issued, these external actors pay the invoice directly to the suppliers and the SME will then have to pay these actors instead of the suppliers.
On Populous, there is a kind of exchange platform that allows SMEs to sell their invoices to external actors. They can buy them through an auction system. In order to be able to sell an invoice, the SME has the obligation to register on the platform. Once done, it will be necessary to wait for an administrator of the Populous network to approve this application. When the company is approved on the network, it can then put up for sale its invoices by fixing the minimum amount that it hopes to draw from it. This step will also need to be approved by an administrator.
Pros
- There is no serious competitor in the same field using blockchain.
- Blockchain makes it possible to do without intermediaries and offers more transparency, speed and security at the same time.
- Thanks to its system of 3 tokens, Populous, via the poken, allows to do without financial institutions.
- Once the different accounts are approved, transactions are carried out quickly.
Cons
- The invoice redemption system is still limited. This is limited to transactions within close geographic areas.
- Well-established companies in the non-blockchain environment exist.
