What is Pcore?
Pcore is P2P (peer to peer) integrated in blockchain technology, with the aim of combining transparency, trust, speed and security of the blockchain with registered smart contracts and directly bringing together seller invoices and lenders.
Pcore aims to combine current technology into a niche but a growing market. As we all know, market conditions are currently experiencing difficult times. Because more and more businesses are turning to alternative funding other than banks, they are expected to be able to provide them with a platform that they can exchange their invoices in a faster way to get the amount they should. In return, help them grow, grow and keep up with business costs.
We base our business on real-life problems in various industries. Thus, Pcore aims to solve the obstacles and problems faced by modern companies when dealing with liquidity and financial uncertainty. Apart from that the main problems that disrupt a number of markets for some at regular bases are financial & factoring constraints, invoice verification, and non-transparent / outdated financial reports.
1. Financial Limits & Factoring
SMEs have limited access to short-term financing (working capital). Banks demand significant guarantees and large amounts of documentation when approving financing projects, especially after the last recession in 2009. This represents a large funding gap for small and medium-sized companies worldwide, driving the growth of the global factoring industry by 10% each year. Current estimates show that the factoring invoice market has a value of US $ 3 trillion in 2018, making it a large enough market to be investigated.
Since the beginning of the financial crisis in 2009, factoring in the United States and around the world has grown between rates of 11% and 24% per year, adding more than one trillion euros in annual factoring volumes in less than a decade. This industry practically doubled its size, even though the modern era of factoring began only a century ago.
SMEs are clearly at a disadvantage when dealing with the capital market in terms of credit rationing and financial inequality, due to lack of financial strength. The gap in financing has driven the need for alternative financing sources, such as factoring.
2. Invoice Verification
There are several steps needed when verifying the authenticity of the invoice sent. This includes confirmation that the invoice service was actually sent as claimed, inspection operations that have a direct relationship with the invoice service, and investigation of the materials used to meet the specified requirements where the invoice is built.
With the implementation of an ERP system, the Pcore intends to automate all processes involved in the analysis of validity, making checkpoints that users must take when verifying the authenticity of potential partners. The history of invoices sent by the company to the public allows automatic assessment of the validity and further related risks.
In modern business, automatic checks are almost impossible without constant physical inspection. In addition, notes can be falsified, further limiting investors to uncover foul play when that happens. Because there is no real incentive for companies to disclose their direct finances to the public, there is a high probability of incorrect financial results.
3. Non-Transparent and Old Financial Statements
Problems with financial statements that are not transparent may be as old as the business itself. There are several reasons why companies want to hide their true results, especially when invoices are questioned. Business plans and financial statements, in general, must show the financial health of the company now and in the past. However, by removing key data or even manipulating their presentation, the company in question seems to be in a good position, while the actual situation is very different.
Although the government actually enforces basic financial presentation guidelines through IFRS and GAAP policies, many companies continue to find ways to bypass them. The IFRS model represents a step forward when it comes to bribery investigations and illegal activities. However, it cannot explain all the possible places where non-transparent reporting is questioned, especially when SMEs are involved. Factoring needs invoicing has increased in recent years, with businesses emerging in the SME sector. However, the problem still concerns trust and accurate reporting.
Pcore ICO details
Token name: PCORE
Project Category: PLATFORM FACTORING FACTORS
Project Type: TOKEN
Project Platform: ERC – 20
Limited country: CHINA, USA
Basic Token Price: 1PCC = 0.39USD – 1PCC
Total Token Supply: 52,000,000
Tokens for Reserves: 20,000,000
Tokens for sale: 20,000,000
Gift Token: 500,000
Tokens Reserved for Teams: 11,500,000
Soft Cap: 1,000,000 USD
Hard Cap: 5,000,000 USD
At present we are in the Crowdsale which only accepts Etherium (ETH) as all forms of payment. You cannot use an existing Exchanger but you can only use the Etherium address from ERC20. The sales results in the form of Ethereum will be reused to develop the project and build a blockchain-based invoice discounting platform system using PCC tokens as an exchange unit.
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AUTHOR : DEMOLTION