PayBlok Token [ B2B Payments within the InstaSupply Platform ]

ship1 (7)in #cryptocurrency • 6 years ago (edited)

InstaSupply is a cloud-based platform which aims to improve businesses pay & get paid quickly. They allow businesses to track and control spend across suppliers. On bringing together various services like purchase ordering, approval workflows, budget control, delivery tracking, secure invoice, credit document storage, payment control etc through PayBlok. Currently, Small and Mid-sized Businesses (SMB) is facing cash flow problems which is being solved by this PayBlok utility token, introduced by InstaSupply.

PayBlok is a utility token that gives businesses access to payment and financing features within the InstaSupply platform. The aim is to help businesses pay and get paid faster, which increases their cashflow and improves their growth.

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 team has decided that, similar other projects, the payblok tokens will reduce fees and the PBLK Token will provide exclusive access to specific financial products on the platform. Furthermore, they will assume the role of redemption guarantees in asset-based lending. For example, if a loan is not repaid, the tokens are withdrawn from the borrower's wallet via an auto-initiated smart contract as an instant payment.

Features of "PayBlok" Project

The PayBlok wallet will be built as a centralized virtual wallet within the InstaSupply application, specific to each business vendor (buyer or supplier). Users will be able to transfer PayBlok into their wallets from external sources using standard blockchain, and will also be able to transfer PayBlok back out again.
PayBlok is a token aimed at solving small and medium size business cash flow problems by offering an early payment function on top of the existing features within the InstaSupply platform, which is already supporting the trade of over 2300 businesses, and is growing daily.
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.
Buyers will be able to exchange PayBlok as part payment against Payment Runs in the InstaSupply platform. In simple terms, this will discount the current market value of any PayBlok used from a Payment Run when funds are collected from the buyer’s account.

Payblock tokens will act as an incentive to promote an adoption of instasupply’s built-in payment feature. This will make instasupply a better alternative to any externalized payment process.

When a payment is processed through instasupply. Both the buyer and the supplier will receive tokens as a reward. Tokens holders will have many uses for payblok tokens within the instasupply platform with access to exclusive features such as discounted fees for accessing the platform and supply chain finance products.

Access to asset-based lending, where tokens will be used as collateral for guaranteeing a loan. Using tokens to make actual payments.

"PayBlok" token allows the range of products:

An Integrated Payment Solution
The complete buying cycle will remain in a single platform, which will see the end of manual activities such as reconciliations and exports. This will ensure the security of the data and will eliminate risks and mistakes associated with transferring data between platforms.
Asset-Based Lending
The lending is based on using the PayBlok tokens that will be used as the guarantee. If the loan is not repaid, InstaSupply will take the PayBlok tokens that will be used as collateral.
Supply Chain Financing
Supply chain financing will be viable since there will be an appropriate environment that will allow for efficient workflow, automatic invoice approvals, and an integrated payment solution.

Token Sale Details of PayBlok