Firstly - invoice factoring has existed for decades, but Populous is new to the facotoring space in how it is being conducted.
By using smart contracts across the Ethereum blockchain, Populous is creating a distributed market for factoring at a level that eliminates many of the costs in the process.
“Further their approach is designed to widen the marketplace to include small businesses at many levels who are not being served within traditional channels for invoice factoring.” - Clif High @ www.halfpasthuman.com
Long story short - no more middle men sucking the life out of the deal and ripping you off - rather than paying 5,10,20% fee to a bank. You will pay something closer to 1% or whatever interest rate is agreed on.
Firstly - invoice factoring has existed for decades, but Populous is new to the facotoring space in how it is being conducted.
By using smart contracts across the Ethereum blockchain, Populous is creating a distributed market for factoring at a level that eliminates many of the costs in the process.
“Further their approach is designed to widen the marketplace to include small businesses at many levels who are not being served within traditional channels for invoice factoring.” - Clif High @ www.halfpasthuman.com
Long story short - no more middle men sucking the life out of the deal and ripping you off - rather than paying 5,10,20% fee to a bank. You will pay something closer to 1% or whatever interest rate is agreed on.