Populous is an invoice and trade finance platform built on the Ethereum blockchain. Populous uses XBRL data, Z Score formula, Smart Contracts, Stable pegged tokens and more to create a unique global trading environment for investors and sellers to trade invoices from all around the world. We at Populous believe we are creating the next generation invoice finance marketplace. Please read our whitepaper for a more technical overview of the platform.
Because Populous is built on the Ethereum Virtual Machine, this has given us the opportunity to create a platform that allows everyone to participate in an alternative finance marketplace which is currently available only to banks, financial institutions, wealthy individuals, family offices and governments. So by allowing investors to use cryptocurrency on our platform, investors from any part of the world, can invest in an invoice sold buy an invoice seller from any part of the world. For example a investor from China or Japan can invest in invoices sold buy UK businesses and vice versa. In order to create a stable trading environment, we use pegged tokens which are Ethereum ERC 20 token standard. While banks and other financial institutions join force together to create financial platforms on the blockchain, Populous is unique in its approach to finance on the blockchain, in a sense that we are not held to abide by the same regulatory rules which prevents banks and other financial institutions from using cryptocurrencies in a blockchain environment.
The flow of funds within the platform is realized by the usage of custom stable currency tokens (Pokens) pegged 1 to 1 with worldwide government’s currencies. Pokens are backed by the funds of investors who deposit funds on the platform to finance invoices. Once invoices are financed by investors, pokens are sent to invoice sellers also known as the borrowers. Pokens can either be exchanged for fiat currency or transferred to an external Ethereum wallet.
The platform manages an internal ledger with the balances of each borrower’s and investor’s accounts for each currency.
Outside the platform we provide a publicly accessible smart contract for each token, implementing the Ethereum ERC 20 token standard (external token contract).
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