Introduction
Cryptocurrency (or crypto currency ) is a digital asset that is designed to work as a medium of exchange that uses strong cryptography (is the discipline concerned with communication security regardless of the medium used such as pencil or paper or computer) to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies is a kind of alternative currency and digital currency in which virtual currency is a subset of the larger group and cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems. Each cryptocurrency works through distributed ledger technology which is tylypically a blockchain that serves as a public financial transaction database.
A blockchain is a technology that is digitized, decentralized, public ledger of all cryptocurrency transactions which is primarily used to verify transactions, within digital currencies though it is possible to be able to code and insert practically any document into the blockchain. The block chain marketer is expected to increase to over $20 billion by 2024 and this has prompted many industries and businesses to incorporate this new technology into their business and one of such is PayBlok.
PayBlok- Introduction
PayBlock is a crypto asset company that allows it's holders to access the exclusive benefits that is inside the instaSupply platform. PayBlok is aimed at solving small and medium size business cash-flow by offering an early payment scheme. PayBlok also brings 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 function.
The Current Challenges Facing SMBs
- The problem facing SMB include late payment process. Most times, payments are late as a result of either intentional delays by customers or processing method and sometimes even both.
- Also, large banks have reduced the loans given to small businesses after a financial crisis. So instead of giving loans to small business, they extend their loans to large businesses instead. Worldwide, access to finance remains one of the most significant problems to the growth, productivity, and survival of SMBs.
- Another problem is the SMbs credit gaps. Most of the SMBs cannot get access to credit because bankers cannot get critical information they require to assess if they are worthy of the credit that is to be given to them.
Solution With Payblok
One of the solution is automated approval and the window of opportunity. Automated approval is vital because it creates the opportunity to provide financing because without technology and automated rules, approving invoices will be very difficult and slow to do. Automation has make things easier and reduced human input which has made it quick and fast to pay suppliers and in a more accurate way.
Also, the PayBlok tokens has enabled instaSupply to offer a wide range of products that solves the problems of SMbs. Some of the products include integrated payment solution, supply chain financing and asset based lending.
There will also be a geographic extension in targeting markets with a large demand for enhanced payment terms thereby creating and opportunity for growth and profit. Expansion will be driven by factors such as market size, market average interest rate, collection complexity and so on.
PayBlok Tokens
PayBlok is a crypto-asset (token) that is based on the Ethereum blockchain, Holders of the PBLK tokens are provided with tremendous benefits inside the InstaSupply platform. The payblok tokens will serve as a means of transaction within the Instasupply platform and will be used to reduce fees for holders who transacts on the platform. The PBLK tokens will be used to access the financial products on the platform and will also be used as a means for redemption within the platform.
Payblok Token Distribution
Conclusion
PayBlok with the aid of the instaSupply platform will bring ultimate trust and transparency to the financial market and the crytography block chain PayBlok tokens. When deciding on the crypto coin that will be good for your investment and business, PayBlok is the one to look up to.
for more info about the Payblok project, please use the links listed here:
Website Payblok: https://payblok.instasupply.com/index.html
Website Instasupply: https://www.instasupply.com/
Telegram: https://t.me/joinchat/HZSTLA9rcKJJZKXUHlHkfA
Facebook:https://www.facebook.com/instasupply
Medium: https://medium.com/instasupply-blog
Bitcointalk: https://bitcointalk.org/index.php?topic=3740408.msg36983691#msg36983691
Whitepaper: https://payblok.instasupply.com/documents.html
Authors Details
Bounty0x Username: Elmichaels