Price Info: https://coinmarketcap.com/currencies/paypie/
Since most business models share common needs, PayPie is moving into transferring accounting practices over to blockchain technology.
Not an easy niche, and one that will have many competitors, however, a very necessary function for businesses, whether they are directly participating in blockchain activities or not.
While PayPie will be entering the same delivery space as Populous, the approach to the businesses of risk weighting is different. PayPie is based upon SME self-reporting, and sharing of accounting documentation, whereas Populous takes publicly reported data as its core. These two approaches are not mutually exclusive. There are many businesses that will find the Populous form of factoring more attractive for a variety of reasons, and many others that are not going to be able to present well from public data, thus the need for alternative verification (reputation assessment and management systems). The language within PayPie places it within the 'self-reporting' segment of this market space.
Note that PayPie language focuses on their 'risk score algorithm', or their approach to 'reputation management'. The algorithm itself has become part of their business model. This is inherently both good and bad. The good comes from deciding what business they are really in and getting to it; the bad will appear if/when the algorithm does not perform as they expect. There are other weaknesses within the self-reporting aspect of this business model, but these are reasonably easily identified and addressed.
There are bound to be constant concerns about theft by fraud, but as a general businesses model, there are fewer opportunities for theft by hack/crack/attack. There exists the potential, as with any reputation assessment system, for ratcheting down too tightly on activities in the network, but again, easily detected and addressed.
Of the many positive aspects of the PayPie business concept, the most powerful is the contextual connection via the principles to the very large, deep, and lucrative world of business accounting software. This connection, as well as personnel involved will provide the boost for PayPie over other competition within the space. By having the base of the previous sales of their accounting software, PayPie gains at several levels. First the sheer size of the customer base as potential low-cost customers for PayPie. Second, from having done it once as the completed sales and software cycles of the accounting businesses translate skills and knowledge to the new effort. Third from the known and tested crew having been there, experienced the problems, and overcome. Fourth from the combination of the customer base, that is to say, from the in-built network effect of such a large, and growing universe of lower cost sales.
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