PayBlok: B2B Payments within the InstaSupply Platform

Blockchain and Smart Contracts open many doors to new decentralized businesses and eliminates the need for expensive third parties. Many ne...

Blockchain and Smart Contracts open many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries.

For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.

Moving to the topic, small and medium-sized business (SMB) are very affected by the impact of long credit terms on sale, and traditional financial products do not pay them due attention. This leaves SMB with few options when it comes to alleviating cash flow problems.

For this reason, the project I am going to present you is Payblok, a token aimed at solving the cash flow problems of SMB created by Instasupply enterprise.

Definition 

As I said, PayBlok (PBLK) (https://payblok.instasupply.com/) is a token aimed at solving the cash flow of small and medium enterprises by offering a prepayment function in addition to the existing functions within the InstaSupply platform, a company designed for digitizing B2B supply chains, which already supports the trade of more than 2,300 companies, and which grows daily.

Goals 

The main objective of InstaSupply is trying to further increase its support to SMBs by offering a prepayment function on its existing platform that connects buyers and suppliers that coincide with purchase orders, deliveries and invoices. This will allow offering financial products without risk to SMBs.

Features and benefits 

InstaSupply provides a workflow for buyers and suppliers to manage their payments and collections.
By creating a business network between buyers and suppliers, the platform collects data from both parties.
InstaSupply allows users to create and place purchase orders, tracking of deliveries and correspondence of orders to corresponding invoices.
It also allows buyers to track, manage and control their expenses.
Upon receiving an invoice, the clients of the platform can review the invoice and accept or reject it accordingly.
In addition, it increases the likelihood of human error, creates an open situation space for fraud, and also delays payments to providers.

Bounty

The project gives the opportunity to earn PayBlok tokens performing some social media tasks and doing simple steps from the bounty program explained into the Bounty0x Webpage. Here (https://beta.bounty0x.io/bounties/267614) you can access the link in order to see what are the conditions to become an early PBLK contributor and start acquiring tokens.

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