There is an unmet market need for a trusted platform that lets businesses build a transparent financial track record that helps them obtain better access to short-term lending. Integration of blockchain technology with accounting data is a way to improve transparency, automate lending, and accelerate processes.
The clarity of events in an accounting solution along the supply chain via the blockchain is an enabler of faster payment, increased efficiency, reduced risk of fraud, and lower costs. And this is the gap that PayPie is going to fill.
PPP Tokens are based on the Ethereum ERC20 standard. The PPP Token is the utility token that provides access to the PayPie platform for certain transactions and services. Each PPP Token grants the holder the right to access certain services on the PayPie Platform and credit marketplaces that may develop using the PayPie Platform in time.
Lenders will be able to use PPP Tokens to access the PayPie Platform to access financial scoring data and real-time financial data of the SME that they are working with.
Purchase, ownership, receipt or possession of Tokens carries no rights, express or implied, other than the right to use Tokens as a means to enable usage of and interaction with Services enabled by the Ecosystem. The Tokens are not intended to be a digital currency, security, commodity or any kind of financial instrument.
API: Application program interface (API) connecting the PayPie Platform to SME enterprise resource planning (ERP) and accounting software (Accounting Data).
Analytics: Analytics calculating datapoints and metrics based on the Accounting Data.
Risk Algorithm & Assessment (CRAA): Risk assessment of SME based on the Accounting Data and datapoints and metrics.
Dashboard: Online interface enabling SMEs and permissioned users to view historical and near real-time financial metrics and Risk Assessment of SME.
We invite independent market participants that wish to utilize the functionality of the PayPie Platform to function as “Credit Hubs” and to enable SMEs gain almost immediate access to liquidity by selling their invoices. PayPie’s risk algorithm is expected to give lenders a higher level of information and confidence to lend on terms not currently found anywhere else.
We invite third parties to establish credit marketplaces (or “credit hubs”) to interface with the PayPie Platform to offer invoice financing to small businesses. Credit Hubs would benefit from seamless PPP Token smart contract execution and PayPie’s risk assessment of the SME and, as data accumulates in the PayPie database, the risk assessment of the invoice customer.