Small and medium sized enterprise accounts for over 70% of all employments in the world,these businesses cut across the fashion, manufacturing, entertainment, retail etc, but at any point in time, reports has it that over $20 trillion is locked up in cash flow payments,these business have to wait for 60 to 90 days to be able to receive payment,in the US alone,B2B payments is in the tunes of $18.5 trillion dollars exceeding the B2C payments($5 trillion) and C2C payments($709 billion) combined,the B2B payment industry is currently underserved
The slow adoption of digital alternatives to paper work by business,centralized payment settlement parties coupled with undemocratic medium of invoice financing has crippled the supply chain development so far
Currently managing over 2300 business and having processed $100 million since its establishment, Instasupply wants to push it further by including a payment settlement mechanism,the Payblok tokens that will allow business to be paid directly in a fast and cheap way
To solve the cash flow gap problem,Instasupply will leverage blockchain to tokenize illiquid assets(invoices) and allow anyone to provide funding or liquidity to them. Payblok will not allow provide liquidity to their invoices but also leverage blockchain to make invoicing and other business operations easier for enterprise
The token will be used for as a payment and remittance solution, for supply chain financing and asset-based lending
Users will be incentivized for various actions like : Payee and Payers will receive 0.5% of the total value of an invoice, users get 1% of the total invoice value of a new user onboarded
The team will be conducting a token sale soon,to learn more check up at their websiteToken Distribution
The distribution of tokens will break down as follows:
1. 60% Token Sale (150,000,000)
2. 15% Blocked for future use (37,500,000)
3. 18% Company, Team and Advisors (45,000,000)
4. 5% Incentives | Rewards (12,500,000)
5. 1% Referral Program (2,500,000)
6. 1% Bounty Program (2,500,000)
Team
Lee Pruitt (co-founder/CEO) - 12 years commercial experience selling B2B e-commerce and eprocurement solutions. Lee led global B2B eprocurement solutions for Grainger (the world’s largest B2B e-retailer) and started Tizaro, the largest online European ecommerce B2B distribution.
Tim Huegdon (co-founder/CIO/CTO) - 17 years development experience leading teams across top tech firms such as Yahoo, Amazon, and Betfair. Tim has experience in a huge number of languages, frameworks, technologies, and methodologies.
Riaz Shah (Director/Chairman) - 25 years as partner at accounting frm EY overseen London audit and global talent. In 2016 Riaz began serving in a part-time capacity at EY, dedicating the balance of his time serving as chairman at InstaSupply among many other directorships.
Michael Davies (Chief Technical Architect) - 19 years development experience having held various positions at IBM, Legal & General, Yahoo, and Amazon.
Jonny Ford (DevOps Engineer) - Jonny has over 10 years experience in server and database management for large global brands such as AKQA and FedEx
Learn more
Website : https://payblok.instasupply.com
Twitter : https://twitter.com/instasupply
Youtube : https://www.youtube.com/channel/UCoYhK-h2xW8oBy3KlxwK0bQ?view_as=subscriber
Medium :https://medium.com/instasupply-blog
DISCLAIMER
*** THIS IS A SPONSORED REVIEW AND DOES NOT CONSTITUTE A FINANCIAL ADVICE*** username : cryptoAcademy