Quote from: Dorky on July 18, 2017, 03:14:19 PM

Quote from: Costix on July 18, 2017, 12:32:26 PM

How is Populous gonna deal with all those thousands of invoices that will all have to be controlled? Who is gonna be responsible if the borrower is not gonna pay his debts?
I know that tokens are safe in the contract but who is gonna deal with all these probably millions of invoices coming in over the next years?

Veritaseum concept is ok for me cause customers buy with their bank-accounts BTC --->ETH --->Veri. They dont need a huge infrastructure.

Let me have the pleasure to answer that.

The invoices are secured with 3 things; credit insurance, director's guarantee, and company debenture.

That can be interpreted as listing only invoices that are top credit quality, like investment-grade stuff.
And in case of default, there is an extremely high chance of recovery.
Participation as investors of the invoices will entail very low investment risk.

Edit:
In case you think (you may be a business owner) there will be shady invoices getting listed for investors to participate, and then incur default/NPL and the investors suffer losses, nope. The invoices to be listed will naturally be top quality stuff mainly because it is secured with insurance, director's guarantee, and debenture. So in case you are a business owner and you think you have a platform to unload all your toxic non-performing invoices to gullible investors, you may be dead wrong.

Absolutely agree with you that those 3 things will and of course should be proven. The question I have is how many people/employees do you need to handle millions of invoices. This work will not be done by blockchain.