Populous takes advantage of blockchain technology to build an invoice and trade finance platform. With the power of smart contracts, it will enable a trading environment for buyers and sellers from around the world. Users can quickly trade, and most importantly pay invoices using crypto-coins. This removes the need for frustratingly slow SWIFT wire transfers for international clients. Now you can see in real-time when payments are made.
How are these payments made? It’s by using custom stable currency tokens (pokens) which are pegged 1 to 1 with international fiat currencies. Pokens can be either exchanged for fiat currency or transferred to an Ethereum wallet. Since the trading platform is based on the Ethereum Virtual Machine, this offers faster processing time, and less expensive transactions than Bitcoin.
Populous takes things a step further using the power of a reward-based crowd-funding platform. Using this platform can enable funding for startups.
Another benefit of this trading platform is it enables SMEs to sell invoices or receivables to individual investors regardless of location at a discount for working capital. All the smart contracts are then recorded on the blockchain.
The team behind this project is well versed with Ethereum Development, and includes a chartered accountant. The platform has been in development for over 2 years, and is almost ready for prime time. Investors who want to take advantage of this should visit www.populous.co
The token is in pre-ICO mode as of June 8th, 2017, and the official launch of the ICO Is July 16th, 2017. In the first 2 days of the pre-ICO, $330,000 has been raised. ICO information is available on this page.