On this occasion, I will discuss an ICO cryptocurrency project called Pcore. This project looks interesting and promising, so we should discuss it and find out more about what Pcore is, what are the benefits and objectives are and how to invest in it.
INTRODUCTION
The world of business has been and will remain quite complicated, which is associated with technological progress. Operational processes are developing at unprecedented speed, involving even more new pieces than ever before. The competition is fierce, while customers demand quality and attractive pricing programs. These programs rely on financing bills more than ever before to attract more potential customers. Funding invoices (A / R), as the term is, is not new in the business world, because it provides a steady stream of income for companies. This is a form of contract between the buyer and the seller, in which the customer has the opportunity to pay for the goods later. Usually, a 30, 60 or 90-day notice gives the buyer the opportunity to pick up the selected goods or services, while the company has a steady income for a certain period of time. However, as soon as the transaction is concluded, the enterprise in question also suffers from liquidity, since it can only receive debt later.
At the same time, the emergence of blockchain technology has sparked a growing interest from organizations around the world. Decentralized networks, globalized cryptocurrencies and smart contracts all play their part. However, probably the most distinctive feature that the blockchain offers is the security of translations. The system itself, through smart contracts, has the ability to improve the integrity of transactions, ensuring that all parties must act in accordance with their promises of the transfer.
Pcore Ltd. offers a market that can significantly increase the liquidity of business customers. Through the blockchain network developed by the project team, we are offered a market where customer accounts can be safely sold. The platform allows enterprises to connect, load and issue trading accounts, improving the liquidity of companies, providing a good investment platform for companies that are looking for secure financing projects.
Both sides have numerous advantages that you can talk about when trading accounts on the Pcore platform. Companies selling them would increase their immediate financial capacity to purchase materials, pay for the production of goods, or even pay their employees. Buyers (lenders from now on), on the other hand, can profit from a reliable commercial business. By financing receivables, lenders receive an interest in the form of profits. The most important criterion for satisfaction is, therefore, the reliability of the partners, which makes factoring the ideal solution.
CONCEPT
The pcore blockchain technology (distributed book) applies smart contracts to assign a “unique fingerprint” for each transaction. This allows enterprises to automate billing processes and use factoring services on the platform. Each account has a unique record, transparently shown to all participants. Thus, due to transparency, creditworthiness can be established through the blockchain platform.
Pcore is an end-to-end platform that will provide SMEs with easy access to short-term financing, turning their receivables into tradable assets. With a 24-hour turnover, interest rates allow lenders to make a profit, while sellers receive vital liquidity for their daily operations.
Платформа Pcore поддерживает эмитентов, владельцев и плательщиков. Поэтому счета-фактуры могут быть доступны в качестве общего источника ликвидности для факторинга. Загружая дату дохода, кредиторы будут иметь возможность выбрать длину факторинга и процентную ставку, участвующую в смарт-контрактах. Токены будут соединять стороны со всего мира, игнорируя границы в этом процессе.
However, only the firm or the recipient of the invoice can provide access to detailed financial data about a particular company or invoice. This allows for real-time auditing, improves the credit scoring process and speeds up loan approval. Those companies with a positive credit history will attract creditors more easily, while the incentives will be available for use as part of their operations. The algorithm is based on XBRL company data and risk assessment results.
PROBLEM
Pcore is based on real problems that exist in various industries. Thus, the Pcore model is aimed at solving problems that modern companies face when dealing with liquidity and financial uncertainty. The main problems that plague numerous markets for some on a regular basis are financial constraints and factoring, invoice verification, as well as non-transparent / outdated financial reports.
DECISION
XBRL (eXtensible Business Reporting Language) was chosen as the format for presenting financial data within the framework of the platform. The platform is an open international standard for digital business systems. It is used all over the world. Companies from more than 50 countries embed it in their operations. Millions of XBRL documents are created every year, replacing old, paper reports with useful, efficient, and more accurate digital reports. In other words, XBRL provides a language in which reporting conditions can be clearly defined. In turn, the terms can be used to uniquely represent the content of financial statements or other types of reports on compliance, business results and business reports. XBRL is often referred to as “barcodes for reporting” because it makes reporting more accurate and efficient.
In addition, comprehensive definitions and accurate data labels will help parties perform various reporting tasks, including:
Ico
If ICO starts successfully, the infrastructure will be developed during 2019, launching the platform in a timely manner. In addition, part of the pre-mined Pcore coins will serve as a reserve and generosity, and the other part will be held by the management team to provide scalability. As the market grows, we intend to list the token on external exchanges in order to increase the possible options for customers from all over the world. Thus, as a final stage, we intend to make the main token tradeable with any currency in the world and attract first-class companies to trade accounts in our platform.
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