When a large business decide to sell their goods and services to customers, they usually do so in the form of credit. This means that the customer does not have to pay instantly for the goods being purchased. The customers are being issued an invoice that contains the total amount due and the due date of the bill. These invoices act as a form of collateral for invoice financing. The invoice financing has been the way in which these large business attain a steady revenue flow.
But currently the market faces numerous challenges and problems that hinder the successful invoice financing and one of the major reason is the risks involved in conducting invoice financing especially due to fraud. Buyers are usually very sceptical about most of the invoice services as some of them do not deliver as promised or there could be the presentation of a fake and forged financial reports.
This led to the birth of a platform that makes use of the blockchain technology to automate the invoice process, validate and ensures a very transparent transaction and this platform is called the PCORE.
The Pcore platform was developed so as to bring about a much more transparent invoicing process as well as an automated one with the use of the blockchain technology. With the use of smart contracts, it enables invoices to be utilized as a combined source of liquidity for factoring. There is the support for its users to upload the income date, due amount as well as the interest rate and it will be able to connect users from different parts of the world with the elimination of third parties. Transactions fees are very low compared to the traditional methods and it’s faster and very swift.
It also has a real time auditing process that verifies the invoices, check for the credibility of a selected business or lender, has a credit scoring system that will ensure users not to fall into the trap of fraud. With the use of the Pcore tokens, users will have access to goods and services at the convenience of their homes or a Pcore islet which is a physical access point.
The Pcore Tokens
The Pcore platform is run on it’s own native cryptocurrency which is called the PCORE tokens and it has a ticker of PCC. It’s an ERC20 token based on the ethereum blockchain. It has a total supply of 52,000,000 tokens and about 20,000,000 tokens will available for sale. There is a token sale that is ongoing and will allow users invest in this great project and acquire this tokens. This token can be used as a settlement method among the users of the Pcore platform.
With the use of the blockchain technology, Pcore has simplified the invoice financing and made it very secure and less liable to fraud. With the use of the smart contracts, this method is usually automated and can be done very swiftly anywhere in the world. It’s clear that this project is the future of invoice financing and will be one of the greatest innovation in its niche.
For more information on PCORE and the ongoing crowdsale, please visit any of the following links.
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