Populous (cryptocurrency)

Populous was founded in 2017 by Stephen Williams. Populous is a platform built for selling and buying invoices online using blockchain technology. The trading ecosystem is based on different blockchain technology such as XBRL, Stable tokens, smart contracts, and others.

Populous uses Pokens as its digital currency. Poken value is 1 to 1 with fiat currencies across the globe. Invoices are sold and bought with Pokens, which in turn can be redeemed with real world currencies.

Invoices between buyers and sellers are exchanged through auctions that utilized smart contracts. Sellers are required to register a company to obtain approval from a Populous administrator. Invoices are analyzed using XBRL data from an Altman Z-sore formula, which checks credit, and available cash of the debtor. Once a credit score is fit for approval an invoice auction will be available for twenty four hours. Auctions only end when they are successful, when there aren't any bids on it within a full day, or the if user ends it early.

In order to offer funds to invoice sellers, Populous maintains a Liquidity Pool. This is tied in with the Populous cryptocurrency (PPT). An investor securitizes PPT by making an initial purchase. PPT is then held in escrow as collateral throughout the process. Transactions between invoice buyers and sellers take place with Pokens, exchanged for PPT and used as the currency for buying and selling invoices, either drawing from or contributing to the Liquidity Pool in the process. As a result of this built-in liquidity component, Populous at this point requires no transaction fees. In fact, the only fees levied are those associated with late payments. Populous invoice transactions can cover a huge array of industries, including many which are not typically available to traditional financing companies.

The PPT tokens not released during the ICO were retained by the founding and development team. PPT can either be held or used as collateral to invest in Populous invoices. In exchange for collateralizing, you’re given an amount of Pokens based on a percentage of market value. Currently it’s the lesser of 50%, or a 30 day market average. These are automatically used to purchase an invoice. If the invoice is repaid, you receive both your PPT investment and Pokens profit.