PayBlok is a token aimed at solving small and medium size business cash flow problems by offering an early payment function on top of the existing features within the InstaSupply platform, which currently connects buyers and suppliers, matching purchase orders, deliveries, and invoices. Payblok is a new cryptocurrency that is created under the ERC-20 standard and integrated payment solution that ensures swift and early payments, supply chain financing, asset-based lending. The platform is basically a place where suppliers and buyers can connect and do business.
The business-to-business (B2B) payments landscape totaled $18.5 trillion for 2016 in the United States alone, and relies heavily on credit. There are already 2000+ companies using InstaSupply every month, with the volume of transactions exceeding $60 million per year. The new early payment function will enable hosting of over $200m of transactions in the first year of deployment.
InstaSupply was founded in late 2014 . InstaSupply is a platform designed to reduce SMBs credit gap. SMBs can benefit from this as the integrated payment solution can 'settle an unlimited number of invoices, send remittances and update their accounting books in a single transaction,' reducing the need for the workforce as its all automated and decreasing the likelihood for human error. SMBs credit gap is caused by delays in payment by their suppliers as they have weaker negotiable power than their suppliers so 'credit sales fail to be paid their due date.
InstaSupply have spent time building and refining a robust workflow that captures, digitizes, and automates all the back-and-forth interactions that proceed payment. InstaSupply where the PayBlok utility token is used, The platform was created to eliminate the problems experienced in business, By using the PayBlok token, buyers and suppliers will be able to make quick payments. It serves as an incentive, suppliers and buyers will get credited with the tokens, when they make their invoice payments using the InstaSupply gateway.
PayblockToken and platform consists mainly of: (1) an Integrated Payment Solution; (2) Supply Chain Financing; (3) Asset-Based Lending.
Integrated Payment solution: This removes the need for the workforce to record invoices directly or by using other accounting platforms which will reduce the risk of human error so that transactions are made faster and more efficiently. The integrated payment solution will also create 'a payment portal within the platform' that will encourage 'user-managed 'Automation Policies"' so that invoices can be approved automatically, without the hassle of going through different levels of communication per transaction.
Supply Chain Financing: Due to the blockchains nature of being decentralized, profusing transparency, suppliers can benefit by 'receiving early payment', or 'within 24 hours', 'without it affecting payment terms for buyers.' Buyers can also benefit as PayBlok can 'provide longer payment times for buyers without suppliers having to wait for their payment.' This is down to the integrated payment solution and automatic invoice approvals of Payblok and InstaSupplys platform.
The PayBlok wallet will be built as a centralized virtual wallet within the InstaSupply application. Users will be able to transfer PayBlok into their wallets from external sources using standard blockchain, and will also be able to transfer PayBlok back out again.
Buyers will be able to exchange PayBlok as part payment against Payment Runs in the InstaSupply platform.
Asset-Based Lending: PayBlok can provide InstaSupplys platform with a form of collateral if businesses fail to repay their loans. The borrowing business must have '60% of the required loan value in custody as PayBlok tokens to provide guarantee collateral.
Token PBLK
Price 1 PBLK = 0.30 USD
MVP/Prototype Available
Platform Ethereum
Accepting ETH
Country UK
Restricted areas USA
Main WebCite: https://payblok.instasupply.com
Whitepaper : https://icorating.com/upload/whitepaper/s0Y4lwifjZuEGIMUxdjp0QolRu8Fnw4B4NMQTKir.pdf
More Review
https://icoranker.com/ico/payblok
https://icobench.com/ico/payblok
https://www.trackico.io/ico/payblok/
https://icorating.com/ico/payblok-pblk/
This article was created in exchange for a potential token reward through Bounty0x.
Bounty0x username: airdroparena
