The Populous Coin is a token that can be used to make peer-to-peer payments on invoices. The developers used the decentralized blockchain architecture, which serves as a platform for payments, and fall back on the Smart Contracts, which are based on the blockchain from Ethereum.
In addition, the platform offers short-term cash flows to help small and medium-sized companies in particular with their sales. The Populous platform was only founded in 2017, so it is still a young crypto currency and the development is not yet complete. You can find out more about the crypto currency and the forecast for the stock exchanges here.
Populous Coin – What is this crypto currency according to onlinebetrug?
There are two types of coins, says onlinebetrug. One is the Populous Platform Token. This was issued in a pre-ICO to finance the coin development. The ICO is the “Initial Coin Offering”, the first issue of coins on a large scale. Within a week the developers were able to sell enough PPT’s to start working on the project. With the tokens you can invest in the network and get pokens, the second kind of crypto currency.
Pokens is the actual Populous crypto currency that will later be used to pay bills. The Poken is based on the Ethereum blockchain, so it is one of many ERC-20 tokens that are particularly suitable for Smart Contracts. Smart Contracts are digital contracts whose conditions are automatically checked and whose contents are fulfilled automatically when the conditions occur. On the platform, invoice financing via Smart Contracts is to be handled securely and simply.
The platform wants to be an alternative invoicing and financing trading platform. Using the virtual interface of Ethereum, financing trading should become possible for everyone, instead of only for banks and financial institutions, for companies and wealthy private individuals. Since the blockchains are decentralized, this crypto currency can be used to participate in invoice trading anywhere in the world.
The coin is used as a currency token and is called a “poken” by the Bitcoin trader
They are supposed to be linked 1 to 1 to the worldwide national Bitcoin trader currencies. At present, the conversion only works in pounds sterling, as the company behind the coin is based in London. In the future, users of the platform will be able to convert their pound pokens into pokens in other currencies like this: https://www.onlinebetrug.net/en/bitcoin-trader/. This will be done on the basis of the respective conversion rates as set by the national stock exchanges. This should make it possible to handle the accounting of any currency without a third party. In addition, the pokens have the advantage that they are stable and customer-specific and thus protect the buyer’s and seller’s invoices from price fluctuations.
The platform executes smart contracts between invoice buyers and sellers. Payments with the Populous Coins are confirmed only then, if all legal requirements, which were specified in the Smart Contract, were executed legally obligingly. Only then are the transactions carried out. The transactions take place by means of the Pokens, so that the sales can happen across currency borders. The populous crypto currencies that the seller receives can then be converted into his own currency. The seller does not have to first go to other financial institutions with his pokens or sell the pokens on crypto exchanges for fiat money.
On the Populous platform, Smart Contracts are protected by special technologies so that manipulation and fraud can be ruled out. The platform uses XBRL (eXtensible Business Reporting Language), a global standard for the exchange of business information. XBRL is freely available to the participants. XBRL is used to create and exchange financial documents, such as company financial reports. At the same time, Altman Z scores are used. The Altman Z-Score formula is a global standard in the financial industry and was published in 1968 by Edward I. Altman, a professor of finance. The formula can be used to predict whether a company will go bankrupt within 2 years. Through XBRL and the Altman Z Score formula, the platform is not dependent on the assessments of external credit rating firms.