Could Populous be just another blockchain-based application, or should you be watching it more closely? Compared to crypto giants Bitcoin and Ethereum, it's still taking its first steps. Find out if it’s worth an investment.
Put simply, Populous is a platform for traders to invoice and trade on. It runs on Ethereum and uses blockchain smart contracts to offer a trading platform. Why is this platform different from Ethereum, Bitcoin, or any other crypto blockchain system? Because it offers anonymity and stability by pegging onto a fiat currency. Despite offering that stability, the developers have set out to “disrupt the financial marketplace” and create a global platform that everyone can use.
Not quite. Populous has a pretty specific use: invoices and contracts. This makes it perfect for lending. For example, if you need a loan because your offices are flooded and you don’t have the finances to fix them, you can use PPT to find a lender. Once you have a contract drawn up, they'll transfer the funds quickly and easily. The platform then records the contract transparently on Ethereum’s blockchain. You might still prefer to use Bitcoin or Ethereum for other transactions.
Populous has some great advantages over banks, as do most crypto platforms. Firstly, your lender could be from anywhere around the world. Secondly, lending is pretty much instant once you’ve agreed to the smart contract. Then, there’s the transparency of having that contract published on Ethereum’s blockchain. You also benefit from greater privacy on Populous than Bitcoin and Ethereum. We are not yet sure how that privacy works. As of November 2017, PPT is still in the beta release phase. You can find out what the experts think of Populous (and how to put your money with any of the cryptos) by checking out the courses at Youtoken.io. They’re in an easy-to-understand format, covering topics like Bitcoin. If you want to feel confident without paying a fortune for professional advice, you should sign up for the courses right now while they're free this month!