Populous (PPT) Review (UPDATED 2018): A Beginner’s Guide | VKOOL

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AVG Rating: 7.4/10

What is Populous?

Populous is an invoice financial platform offering peer-to-peer exchanges for secure ledgering. The hope is that with this system in place, businesses won’t have to worry about late invoicing and built up fees.  They offer two kinds of tokens for different purposes.

The way it functions is by taking advantage of smart contracts, Altman Z-score, XLBR data and a stable token all meant to streamline the process of invoicing.  You’ll learn all about what Populous has to offer and how it works in our full review.

Fundamentals of Populous

Those interested in selling can register, wait for approval, and then provide an invoice with a declared minimum sales goal. Invoices are auctioned off using dedicated smart contracts to ensure it’s all processed fairly.

XLBR

This is also known as eXtensible Business Reporting language and it’s used to transmit business related data. This is already submitted to government regulators yearly and it’s used to make sure all information is thoroughly reviewable to fit regulations.

Over 2 million financial statements are reviewed under this to ensure that the data is able to factor in updates.

Altman Z-Score Formula

This was released in 1968 and is used by financial industries all over the globe. It measures 3 important key traits:

  1. Likelihood of bankruptcy within a 2 year time span
  2. Likelihood of a business defaulting.
  3. The ability to provide necessary measures in case of financial distress.

What this means for users is that they do not have to rely on external credit rating groups, preventing the need for an additional 3rd party. With this built in if there are any businesses which likely won’t succeed, they are automatically barred from filing an application.

If accepted by a moderator, the auction period begins for a total of 24 hours. The end of the auction depends on 3 different factors.

  1. The set bid is reached.
  2. Bids do not meet the requested amount and in this stage all power goes to the seller. They can decide to opt out, restart, or accept the highest available offer.
  3. The auction is cancelled altogether.

Currencies all over the globe are accessible and when the auction is completed, the dues are transmitted within a 24 hour period, all without the need for a 3rd party. Pokens are distributed as funds which can be exchanged if needed.

Invoicing

For those interested in buying you’d have to register on the official website. You simply find a business of your choosing, place a bid, and if you win you receive the interest. If you’d like to join a bidding group, you’re also available to do so, limiting the need for putting in a higher risk.

2 Tokens: Poken and PPT

There are 2 different kinds of tokens to choose from on the Populous network.

Pokens

ERC-20 tokens which are equivalent to GBP. This can be converted to the fiat of your choice, and when converted it will use the conversion rate as set forth by the London Stock Exchange.

It’s possible to buy Pokens with different kinds of fiat currency on Populous.

PPT

Known as the Populous Platform Token, this was given during the pre-ICO stage and is limited to 53 million, with 37 million currently being circulated. PPT can be used to start using Populous.

You can provide this as a form of collateral to receive an investment, which is returned to you if repaid.

Team

They are based out of London and the founder is Stephen Williams who has a background in analytics and commercial data. The Chief Technology Officer is Wisdom Oparaocha, who has a background in smart contracts and several kinds of programming languages.

To learn more about the background of their staff, they offer a direct Linked In profile button you can click to review on their website.

Marketplace

With a 53 million total supply and current circulation of 37 million PPT, they still have a lot of tokens to offer. In a little over a week they were able to get $10 million raised for their ICO.  The value of PPT peaked at around $71, and since then has still seen a boost in value when compared to how they performed initially.

Judging from the available graphs and looking at the historical trends it does appear to be making a steady rise again.

Buying PPT

You can find it on Binance, Token Store, Kucoin, OKEx, ForkDelta, Mercatox, HitBTC, and Radar Relay. The price is about the same on each exchange, and depending on the marketplace you can trade it for various options. This includes ETH, BTC, WETH, and USDT.

Storing PPT

Just like any other ERC-20 token you have your pick when it comes to storage. If you go the hardware route, you can use a Ledger Nano S or a Trezor. Also offered are MyEtherWallet and MetaMask.

Another future option will eventually be the companies own wallet.

Populous vs Hive

Hive acts as a liquidity broker, an auditor, and it helps assess the risk level of giving out a loan. Once financial data is uploaded to the blockchain, it will assess whether the credit score is good enough. This can also help modify the premium to adjust towards the credit score and make it easier to have trust in the auditing process, all with a much faster ledger.

Populous vs PayPie

Credit risk assessment is offered on the PayPie blockchain. This is meant to get rid of the potential risk involved in accounting which can lead to compromised data. With this the risk assessment of giving out a loan is determined, letting the potential creditor know if it’s worth lending money. They describe themselves as being the first to develop such a blockchain.

Populous vs Salt

Salt offers personal and business related loan which automatically liquidates collateral in the case of failed payment. The minimum to begin borrowing is $5,000 and there is no ceiling as a maximum. Loans are automatically sent to the borrower’s bank accounts and once paid off, the collateral is returned. Instead of affecting credit score all that’s put up is cryptocurrency.

Populous vs Bitcoin

Bitcoin was made solely as a way to exchange funds, and does not have the invoicing capabilities of Populous. Another main difference is the popularity surrounding Bitcoin, as well as its top spot ranking in terms of cost. This is still the major coin which is most discussed about to people who are interested in cryptocurrency.

Populous vs Truffle

Truffle is made to make Ethereum based blockchain easier, with already built-in smart contracts and the ability to customize it as you see fit. This is written in JavaScript code, and as such, is a widely popular programming language. They also say it’s made for speed since it is optimized to do so.

Populous FAQ

  1. What is the current Populous cryptocurrency price?
    It is at $22.25 USD at the time of this review.
  2. How much is the Populous ICO?
    It has officially launched and is no longer offering initial pricing.
  3. Where can I find Populous coin news?
    Their website, Reddit page, and simply looking at crypto related websites.
  4. Where is a solid Populous coin prediction?
    There is no way to determine for certain what the future will hold, but this has stabilized and had a good rise in value since it was released.
  5. What is a reliable Populous coin wallet?
    Any wallet which can store ERC-2O tokens can retain PPT. Popular choices include MyEtherWallet, hardware wallets such as a Trezor, and MetaMask.
  6. Is there a Populous Reddit page?
    Yes, you can view their page here:  https://www.reddit.com/r/Populousplatform/
  7. Where can I buy Populous coin?
    You can find it on HitBTC, Radar Relay, OKEx, Mercatox, Kucoin, ForkDelta, and Binance.
  8. What’s a good Populous token exchange?
    Most exchanges allow you to trade for popular coins, so determining which is best for you depend on what you’re looking to trade.

Summary

Populous is active on providing updates, and on February 16, 2018 they released the v2.0 version. They offer a useful tool for trade and invoice, all without the use of a third party. Their built in credit rating also ensures that only suitable businesses with a reduced risk for failure can join in. This also allows people to get money sent to them immediate after setting up an invoice, within a 24 hour window.

The ease of use makes it an attractive option for people who don’t want to work with potentially unreliable businesses, or with people who aren’t able to know for certain if the person they are invoicing is going to pay the amount. This limits the need for potential penalties and fees when invoices run late. It’s still an ongoing process though it does offer a potentially useful tool for people to use.

Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

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