Populous announced that it sold its first invoice on its blockchain invoice financing platform.
This could be really something, enabling people around the world to take advantage of the lucrative invoice financing market.
What will be interesting will be the quality of the assessment of risk through Populous’ XBRL platform. For those interested, this is documented in it’s white paper, available at https://populous.world/index.html
A populous competitor, paypie, is setting up links directly to the business’s accounting system in order to assess risk. The success of these platforms will come down to the success of their risk assessment, assuming the technological is functional, as there is a big market for invoice financing that is pretty much locked up with financial institutions.
Populous is still in beta and it’s slack channel shows it is still developing it’s onboarding process for people wanting to invest in invoices.
It’s a super exciting project so let’s hope it gains traction and works effectively.