It is known that SMEs represent one of the most important economic pillars in the world. And it is that these are responsible for generating many jobs and moving large amounts of money. Thanks to companies like Populous, today SMEs can access more and better tools.
And it is that these are responsible for generating many jobs and moving large amounts of money. That is why more and more institutions and governments are focusing on their empowerment. A perfect example of how technology can take SMEs to the next level can be found in the Blockchain like this.
▶ What is Populous?
Considered as unique and exclusive, Populous is a platform focused on providing financing solutions to SMEs, that is, small and medium-sized companies. This through mechanisms that allow them to obtain much greater liquidity without having to wait a long time to receive cash flow.
This works thanks to the fact that Populous has created a shared billing system which operates through a Token, PPT. In this way, this platform has set itself the goal of solving some of the most common problems of SMEs, such as the lack of liquid cash and financing solutions.
The construction of Populous is based on the already known blockchain or Ethereum Blockchain which incorporates improvements known as Feautures. An example is in the use of a new programming language, XBRL which is extensible from XML. The use of smart contracts is also incorporated.
In addition, the use of smart contracts, Blockchain and XBRL, allows Populous to operate with two tokens. The first is the PPT, the currency launched pre ICO financing, the second virtual currency is called Poken which is used for bill payment and exchange for fiat money.
▶ Differences between Populous and other digital currencies
- Two Token: One of the main features of Populous is the fact that it operates with two currencies. On the one hand, we have PPT, virtual currency which is used within the ecosystem. On the other we have Poken, which is used for transactions, exchanges and to convert into fiat money.
- Without third party intervention: Another feature worth mentioning about Populous is the fact that authorization of transactions is done without the intervention of a third party. This thanks to the use of smart contracts and the Ethereum blockchain.
- Scalability: Unlike industry giants like Bitcoin, Populous does not face scalability issues. This means that you can make transactions at high speed regardless of size or your geographical location. Also, the transaction processing time is noticeably improved.
- Transparency: Finally, to avoid misuse of invoices, Populous records all the information within the blockchain. This helps to reduce the risk of some type of fraud, bad processing, system failure or an error at the time of making the transaction.
▶ The bases of Populous
We could say that Populous is based on the Ethereum Blockchain which he used as a starting point to develop his own solutions. And it is that this platform is an open source P2P which was created from an existing chain.
The ecosystem built on the Blockchain allows companies and buyers to meet in order to resolve the collection of invoices. Associated SMEs can sell their unpaid invoices at a lower price to buyers. This allows them to receive Clash Flow while the buyer can collect the invoice later at a higher price.
In Populous programming we find the use of a meta programming language called XBRL which is based on XML. What's more, Populous has introduced a Back-End which helps create an internal referral credit.
Another of the ways in which Populous works is in the use of smart contracts and the Z-Core formula, a multivariate analysis which allows to calculate the possible solvency of companies. In this way, the purchase and sale of invoices and Cash Flow are much more efficient and secure.
Thanks to the use of Populous technology, we can find that two different Token are used here. The first is PPT, the initial token that was used by Populous for the launch of its financing ICO. This token works as a collateral for Poken, the other token.
Pokens are based on the famous Ethereum token, ERC20. These work as the internal currency of the platform and are responsible for carrying out the purchase and sale transactions of the invoices. In the same way, the Poken are backed by funds deposited to finance the invoices, which gives them greater stability.
You should know that neither the PPT nor the Pokens are possible to mine them, this because Populous maintains full control of your coins. This in order to keep the value stable and avoid an excess supply in the market.
By having control over the tokens, Populous decides how much and when to release them. That is why we currently find about 37 million coins in circulation on the market. It is estimated, according to experts, that in the future the platform will launch more Token to the market, although there is no exact date.
▶ How to get it?
If you want to enter the Populous environment then the easiest option is to buy Token directly. In the main brokerage houses you can find PPT, the ICo de Populous currency, which will be your access key to this Blockchain ecosystem.
The PPT can be exchanged for Pokens to carry out transactions such as purchase and sale of invoices within Populous. You should know that Poken cannot be exchanged for fiat money, they only work internally. Also, you can only buy Populous token with virtual currencies, conventional money cannot be used yet.