There’s no gainsaying the fact that blockchain made positive changes since inception. We have seen its impact in many sectors of the economy such as in supply chain management and finance. For the latter, there’s usually a problem with access to funds to carry out specific operations. This is the reason why Pcore aims at being a harbinger of revolution for the fragmented procedure of acquiring and using funds by businesses/companies.
The Concept of Invoice Factoring and the Importance
Loans remain one of the best approaches to attaining liquidity for a business. When it becomes hard to access one, the result is the use of “Invoice Financing”. The implication is that the borrower (usually a business or company) temporarily gives up its invoice to the lender in exchange for revenue.
Problems with this Model
The fact that many entrepreneurs make use of this does not translate to its success. On the contrary, many issues kick against the idea of invoice factoring/financing. The first is the long duration before a payback, which usually takes around 2-3 months to complete. The second is the absence of trust because the business is conducted without a secure platform or an escrow of sorts. Third and most importantly, the lender hardly generates extra within the period because it only has the mandate to receive the loaned funds and not to generate any.
Where does Pcore come in?
This project makes use of diversified architectures on the blockchain to remodel the current model of factoring invoices. As w would discover soon, it has implementable proposals that can go the extra mile to enhance the mode of extracting revenue from both ends.
Improving the Integrity of Transactions
The first port-of-call is in the aspect of breached trust. As a solution to this, Pcore opted for the distributed ledger, which is prominent for the use of decentralized networks to facilitate transactions. Besides, smart contract technology has the responsibility of verifying documents/invoices before the transactions begin. In addition, transacting parties are sure of having swift movement and receipt of funds across the Pcore network without hassles.
Continuous Stream of Revenue
The most importance aspect of factoring is that the borrowers don't have to tender many items or pas through the rigorous stages associated with the loaning process. Instead, invoices of previous transactions serve as a better approach.
To break the barrier of the traditional model, Pcore aims at providing liquidity to both sides (lender and borrower) as opposed to the centralization of revenue-generation to the receiver of the funds.
The first aspect is that the business/company that needs funds has to tender its invoices to the platform. If it meets the requirements, the lender (called the buyer) releases the funds and collects the invoices pending the repayment. While at this, Pcore empowers the buyer to engage in credible business transactions that would generate income for them. This way, both parties will have a continuous stream of income pending the completion of the 60 or 90-day cycle before the borrower pays back the received amount.
Information on PCC Token sale
Token Symbol: PCC
Platform: Ethereum
Token Type: Utility
Standard: ERC-20
Price: 1 PCC = $0.39 USD
Soft Cap: $1 million USD
Hard Cap: $5 million USD
Country: The United Kingdom
Not Participating: The United States of America, China
The unique Team behind the Project
Final Thoughts
Pcore is an amazing project that wants to change the revenue-generation model of startups and SMEs. It would certainly go far because it has a wide range of viable features that would make its dreams come true.
CHECK OUT THE LINKS BELOW FOR MORE INSIGHT ON PCORE
Website : https://www.pcore.co/
Bitcointalk ANN thread : https://bitcointalk.org/index.php?topic=5121997.msg50244695
Whitepaper: http://www.pcore.co/assets/docs/White_Paper.pdf
Roadmap : http://pcore.co/index.php#roadmap-title
Twitter : https://twitter.com/PcorePCC
Facebook : https://www.facebook.com/PcorePCC
Reddit : https://www.reddit.com/user/PcorePCC
Join Telegram group : https://t.me/PcoreLTDGroup
Writer's info
Bitcointalk username : deodivine1
Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=1390292
