PayBlok is a token aimed at solving small and medium size business cash-flow by offering an early payment function on top of the existing features within the InstaSupply platform, which already supporting the trade of over 2300 businesses, and is growing daily.
The InstaSupply platform Aims to improve how quickly businesses pay and get paid, InstaSupply is a cloud platform which allows businesses to track and control spend across suppliers. We bring together purchase ordering; approval workflows; budget control; delivery tracking; supplier and product management; secure invoice and credit document storage and data collection; accounting reconciliation; and payment control.
SOLUTION PROVIDED BY PAYBLOK
PayBlok is the solution by InstaSupply to help SMBs grow into larger, more successful businesses. PayBlok is a token created and specifically designed for the InstaSupply platform that ‘can be created without restriction or the need for consent or participation from InstaSupply.’ Which can also be used as ‘an integrated payment solution, supply chain financing, and asset-based lending.
Aspects
- 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. The payment portal will use ‘AI (Artificial Intelligence) to accept invoices’ that are familiar or similar ‘and if invoices are unrecognized than they can be manually implemented’ but will be remembered for future transactions. 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 can, therefore, save on labor costs and use the money elsewhere to benefit the organization.
- 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. SMBs can now plan their future and execute this plan in a more effective manner as cash flows are more likely to be certain. This reduces time wasted to have to adopt to another plan and may increase the SMBs credibility overall as borrowed money is paid promptly. Therefore, reducing costs for the SMBs as interests will be less due to an improved credit score and a reduction in time to repay the loan.
- 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.’ With interests having the possibility of only being 1% value per annum due to collateral requirements, businesses can use PayBlok and the InstaSupply as a bank alternative that could be significantly cheaper and willing to lend. SMBs can use the borrowed money to, therefore, improve the overall functionality and efficiency of the company in order for it to thrive.
Features of PayBlok
The PayBlok makes use of blockchain technology and the smart contract option to make the payment to the suppliers fast and easy. PayBlok offers the financial solution to the supply chain through this decentralized platform.
The PayBlok tokens will be used as a tool to make good use of the payment feature that is inbuilt in the InstaSupply platform.
The buyers and the suppliers will get rewarded with tokens once the payment is processed through PayBlok. These tokens can be used to get exclusive discounts and other low payment options when using the InstaSupply platform. The tokens can be used to make actual payments and this reduces the risk of cash transactions.
The approval of the invoices has used the automation process and therefore there will be less delay in clearing the payments than doing it manually.
About InstaSupply
InstaSupply is a cloud stage that enables organizations to track and control spend crosswise over providers. The stage gives buy requesting, spending control, endorsement work processes, conveyance following, secure receipt and credit report stockpiling and information gathering, provider and item administration, instalment control, and bookkeeping compromise administrations.
At present, InstaSupply is now associated with following and diminishing exceptional receivables for in excess of 2300 independent ventures. The stage was produced in 2015 and the group at InstaSupply handles exchanges esteemed at more than $60,000,000 every year. The stage enables organizations to coordinate buy requests to conveyances and solicitations. This gives a chance to the organizations to control which solicitations ought to be paid and furthermore to sort the ones that require assist examination.
The InstaSupply additionally has the Payment Run item that enables organizations to bunch together the affirmed solicitations, apply for any exceptional provider acknowledge, and come up for a rundown of instalments to be made to providers through their customary saving money administrations.
InstaSupply B2B Invoicing Platform Features
Mobile interface
The platform is accessible on mobile, which allows people on the go to use it.
Customer-supplier boarding
The platform offers custom onboarding and training for your suppliers.
Record all transactions
It is easy to control all orders and deliveries across the business due to the use of blockchain technology
Real-time tracking
Businesses will be able to track all the spending and payment activities across different locations and currencies.
Expert customer care
The platform’s customer care representatives are always available to ensure the success of platform on your business.
Custom approvals
The platform provides custom mapped approvals for all purchases and invoices.
The Payment Process
These late payments are really big issues for small and medium-sized businesses because companies sometimes take loans to help with the running of their businesses from financial institutions like banks and banks are generally more confident with granting loans to big businesses unlike small and medium-sized businesses; it is because of this reason that big businesses can still stand their ground when they receive late payments for goods and services unlike small and medium-sized businesses that rely solely on internally generated revenue.
The Payblok Tokens
Payblok.instasupply is a crypto-asset (token) that allows its owners/holders the access to exclusive benefits inside the InstaSupply platform and it will be developed under the ERC20 Token Standard.
As an asset, the initial sale of tokens will be subject to sales taxes according to each market. Following this, a token belongs to its owner and can be traded without restriction or the need for consent or participation from InstaSupply. The creation of the PayBlok token enables InstaSupply to offer a range of products solving the problems faced by small businesses. These products are:
• Integrated Payment Solution
• Supply Chain Financing
• Asset-Based Lending
Token Sale Details
• Whitelist- YES
• Pre Sale- 15 May 2018 - 15 Jul 2018 (0.24 USD = 1.0 PBLK)
• Public Sale- 27 Aug 2018 - 23 Sep 2018 (0.3 USD = 1.0 PBLK)
• Ticker- PBLK
• Platform- Ethereum
• Country- United Kingdom
• Soft Cap- 25,000,000 USD
• Hard Cap- 45,000,000 USD
• Total Tokens- 250,000,000
• Available For Sale- 60%
• KYC Required- Yes
Token Distribution
60% Token Sale (150,000,000)
15% Blocked for future use (37,500,000)
18% Company, Team and Advisors (45,000,000)
5% Incentives | Rewards (12,500,000)
1% Referral Program (2,500,000)
1% Bounty Program (2,500,000)
RoadMap
Meet The Amazing Team
Advisors
For more information, please visit The links below;
Website: https://payblok.instasupply.com/
Reddit: https://www.reddit.com/r/ico/comments/8jccem/payblok_is_a_cryptoasset_that_incentivizes_b2b/
Facebook: https://www.facebook.com/instasupply
Twitter: https://twitter.com/instasupply
Bounty0x Username: Brainerdpaul
Author: BrainerdPaul
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=1680409
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