Populous was founded in 2017 by Stephen Williams. Populous is a platform built for selling and buying invoices online using blockchain technology. The trading ecosystem is based on different blockchain technology such as XBRL, Stable tokens, smart contracts, and others.
Populous uses Pokens as its digital currency. Poken value is 1 to 1 with fiat currencies across the globe. Invoices are sold and bought with Pokens, which in turn can be redeemed with real world currencies.
Invoices between buyers and sellers are exchanged through auctions that utilized smart contracts. Sellers are required to register a company to obtain approval from a Populous administrator. Invoices are analyzed using XBRL data from an Altman Z-sore formula, which checks credit, and available cash of the debtor. Once a credit score is fit for approval an invoice auction will be available for twenty four hours. Auctions only end when they are successful, when there aren't any bids on it within a full day, or the if user ends it early.