The Populous coin has been soaring – in both price and volume – over the last couple days, probably in anticipation of the final launch of the system that this cryptocurrency is part of. Populous (PPT) is a blockchain-based invoice financing platform: a freelancer or business can sell their invoice (at a discount) to a buyer in a transparent way. Small businesses lose billions every year in late invoice payments. With this platform, they can easily score some quick cash for their short-term needs.
When is it launching?
We have pretty much always known that the beta release of the finished product would be January of the current year. A date was never specified, but on January 7th we got an additional boost of confidence that it would happen by the end of the month:
The beta will be released in Jan 2018. Thank you for being a valued member of the Populous community. Please feel free to contact Mr Lee with any questions you may have regarding @BitPopulous.
— Populous Platform (@BitPopulous) January 7, 2018
But it has been 3 weeks since that tweet, and the launch must be arriving at any moment. While it hasn’t been completely launched, we did – at least – get a piece of good news from the Populous coin team. Yesterday, this cryptocurrency’s official Twitter account sent its price 32% higher by announcing that there is a simulation of the beta version people can test out:
— Populous Platform (@BitPopulous) January 27, 2018
What does the Populous coin do?
There are a lot of small and medium sized businesses, as well as freelancers, out there who are confronted with short-term liquidity issues. They have been able to turn to invoice financing marketplaces for a long time, but selling unpaid invoices is currently overpriced and slow. Plus, the intermediary platforms are clearly taking advantage.
That’s where the Populous (PPT) platform comes in. It’s a transparent and reliable, blockchain-based marketplace that has an efficient way of matching invoice sellers to buyers – as well as assessing credit worthiness. With smart contracts, all of the problems of manually processing invoices is pretty much out the window.
The Populous coin is one of two coins that works on this system. The other one is called Poken, and it is an internal currency used to buy and sell invoices. The PPT coin, on the other hand, is used for investing in invoices. They are the coins that were distributed during the ICO, and there will only ever be 53 million floating around in the universe.
This platform has massive potential
In the UK alone, there are over 40,000 invoice finance users. That’s just one tiny island country. Imagine all the subject matter exports, freelancers and small business operators around the globe.
With the ability to securely and reliably sell discount invoices and receive funds in just 24 hours for a tiny fraction of the cost of traditional invoice finance marketplaces, this platform is certainly going to be a winner. It doesn’t hurt that the Populous coin is already in the top 25 by market cap.
The price of this coin will only grow stronger as the platform evolves and becomes more and more popular.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.