A peer-to-peer invoicing marketplace launched in 2017, Populous World harnessed blockchain’s distributed ledger to facilitate a worldwide trading platform for invoice financing. The platform’s architects endeavored to diminish the reliance on intermediaries in invoice dealings. Invoice sellers and buyers were the primary participants on Populous.
Employing blockchain’s distributed ledger capabilities, Populous World emerged as a peer-to-peer invoicing platform with global reach. The focus of Populous was to assist small and medium-sized enterprises (SMEs) by offering dependable short-term finance solutions. It enabled businesses to liquidate their invoices at a reduced rate for prompt cash flow. Buyers and sellers on the platform conducted transactions using Pokens, a currency converted from Populous’s own cryptocurrency, PPT. Since mid-2022, Populous’s online presence has diminished, with its website down and social media stagnant.
Populous’s objective was to either minimize or eradicate third-party involvement in transactions, challenging the traditional role of financial institutions in moderating such exchanges.
The Populous ecosystem consisted mainly of invoice sellers and buyers. Sellers, also known as borrowers, presented invoices with specific terms via the Populous platform. Buyers, acting as investors, selected and invested in these invoices.
Invoice buyers assessed available invoices to choose their investments, initiating bids with set interest rates. Sellers would then review and accept the bids before exchanging the invoices for funds. Ultimately, when invoices were reconciled later, buyers received their payments.
Global Aspirations
The concept of invoice markets is widespread globally, yet they often operate within confined local areas. Populous aimed to expand the global impact of invoice trading by connecting all businesses with worldwide invoice buyers, fostering a global market for invoices.
Among its advantages, Populous claimed rapid processing and minimal expenses. Sellers could obtain instant funds from buyers, ensuring security and confidentiality without intermediaries.
A December 2017 white paper by the company highlighted research indicating that 46% of the UK’s SMEs faced cash flow challenges and later payments. Populous perceived substantial potential in addressing these persistent SME difficulties.
To secure funds for sellers, Populous reportedly maintained a liquidity pool associated with its cryptocurrency, PPT. Investors initially purchased PPT, securing it throughout the transaction process.
Invoice trade involved Pokens, which were interchanged for PPT and served as the currency and liquidity pool contributor within the marketplace.
Understanding Populous Crypto
Populous World (PPT) was a blockchain endeavor aiming to centralize global invoice financing but did not garner sufficient interest.
Though inactive, the project still sees over 53 million PPT circulating, maintaining a 24-hour trading volume upwards of $219,000.
Blockchain primarily underpins cryptocurrencies and decentralized finance applications, offering various business and industrial benefits.
Though Populous World sought to revolutionize invoice financing globally, it struggled to captivate user interest.
Please note that the insights and analyses contained in this article are solely for informative purposes. For more details, refer to our additional resources. As of writing, the author holds no cryptocurrency assets.