Pcore Limited is the London-based IT company that is currently working on the development of the blockchain-based smart platform that enables transparent peer-to-peer invoicing. The employment of smart contracts, as well as the PII protocols and the Altman Z-score model, helped create the identification and invoice processing system that is fully automated, decentralized, secured from tampering and other fraudulent activities, and is characterized by the presence of unique features, such as binding a fingerprint to each individual transaction within the network.
PCC, the native ERC-20 token, acts as a prime engine of all processes that take place on the platform and serves as a means of payment, exchange, and trade. The tokens are now available for purchase as a part of the ongoing ICO.
The concept beyond Pcore goes beyond the simple issuance and payment of invoices: it offers small and mid-sized businesses an opportunity to benefit from using such services as factoring and invoice discounting.
For your information, factoring involves a sale of account receivables to other market participants. Receivables is the amount of money that a company has to acquire via invoice for goods or services rendered to another company. Whereas invoice discounting is the process that provides for the short-term borrowings of unpaid receivables as collateral for a loan.
All these operations are to be carried out between the following types of users of the Pcore platform: the invoice issuers, owners, and payers. In both cases, the invoice can be transformed into an instrument that allows the obtainment of liquidity for factoring purposes. Moreover, the issuance and transfer of invoices via Pcore provide means for the prompt auditing, formation of credit rating, and loan approvals.
The implementation of such technological solutions as the ERP system, Ethereum smart contracts, and PII protocols that form the Hive structure, helped Pcore to develop the network where the processes of data validation, invoice management, risk assessment, performance analysis, and invoice covering are seamless, transparent, and secure.
The PPC token can be used for invoice settlements, obtainment of interest payments, and trading. The token can be exchanged to fiat currency directly on the platform or traded against other cryptocurrencies on partner exchanges.
The project came into existence in early 2019, and as one of the first orders of business decided to carry out the token sale. The launch of the Pcore platform is planned in October of this year, followed by the development of the proprietary software (March through June of 2020) and the expansion to the Chinese market.
Pcore has a relatively small audience on all platforms: Facebook - 477 followers, Twitter - 284, and Telegram - 2,923 group members. The published content is of low quality and consists mostly of memes and not overly sophisticated marketing messages.
The sale of PCC will last until August 28, with 20 million tokens allocated for sale out of the total supply of 52 million PCC. The startup will try to hit the hardcap of $5 million. The basic token price is established at $0.39 for 1 PCC. Pcore accepts only Ethereum - a 10% bonus applies for all those who purchase more than 100 ETH worth of tokens. The list of restricted areas includes the United States and China.
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|Start||June 20, 2019|
|End||August 28, 2019|
Invoice factoring and discounting represent splendid financial instruments, which could be exploited virtually by any savvy businessman. Therefore, Pcore has chosen the right playground for development, but I tend to notice a handful of issues with this project. First of all, they didn't present a working prototype, which is a crucial factor when trying to attract substantial funds. Secondly, their team appears to be massively understaffed and lacking real professional in the field of blockchain development. Pcore needed another six months or so to develop an MVP and polish their business pitch.
Shannon August 3, 2019 Reply
If you asked me to characterize Pcore in one word, I would say that it is raw. While the concept is genuinely interesting and applicable in the real world, the rest of the components haven’t been properly prepared for the token sale. That may lead to dire consequences for the project, because many would perceive such haste as the desire to get funding asap, without presenting a viable product. This tactic may have worked in 2017, but the investor has become a lot smarter. So, I doubt that anyone would invest 100 ETH or more without seeing at least an alpha-version of the platform.
Jude July 30, 2019 Reply