Paypie is a credit assessment tool powered by the Ethereum blockchain. The platform wants to be the world first credit Risk Assessment on blockchain accounting. Paypie brings ultimate transparency and trust to the financial markets by using the Blockchain technology to create a decentralized ledger and a triple-entry accounting that provides a new single ledger and finally the risk score algorithm that feeds reliable financial data from their party and other businesses applications to marketplace players. Overall, Paypie has one goal in mind, to create a new credit score-style system that is built on the blockchain.
How does PayPie Work?
The pay technology works in three different categories. The categories help in making the platform more safe and transparent. The technology work on:
- A blockchain technology to create a decentralized public ledger that guarantees users authenticity of all the transactions starting from the past, present, and future transactions.
- Triple-entry accounting to create a solution that cryptographically seals accounting entries and overcome shortcomings by providing a new single ledger.
- Risk score algorithm that feeds reliable financial data from other people to a third-party application to marketplace players.
The end goal of the pay Pie is to create a decentralized accounting platform for everyone in the business industry, the accounting platform will provide real-time insight to achieve 100% accuracy for a credit risk algorithm usable globally.
PayPie platform also acts as a marketplace that is designed to facilitate fraud-proof opportunities. The marketplace is a comprehensive space for lenders, SMEs, investors, and buyers. These people can find and offer financial opportunities secured by PayPie’s unique risk score algorithm. The marketplace allows each transaction on the platform to go through a smart contract, including the seller, buyer, price and other details. All transactions are digitally signed and IPFS hash that links them to further documentation.
The symbol of the Paypie token is PPP. The token is Ethereum ERC20 compatible that provides access to the platform and access to certain services and transactions on the platform. PPP grant holders the right to access services such as credit histories of SMEs and purchase on invoices. 1 PPP token equals 0.0011 ETH.
The PayPie team is an international team with the ability, openness, and vision, thinking and management skills. Key members of the team are Jag Barpagga (Cofounder and CIO), Nick Chandi (Cofounder and CEO). Other team members are equipped with marketing knowledge, and developers coming from various backgrounds such as the blockchain, IT, finance and accounting. Headquarter is located in Vancouver, British Columbia Canada.