Vancouver, Canada - September 18, 2017 (Investorideas.com newswire) Accounting-tech company PayPie is raising funds via a token crowdsale for its decentralized, blockchain-powered accounting platform. PayPie's platform was built to make financial information on small-medium businesses more accurate and transparent, allowing a better picture of a company's financial health. The ultimate goal is to bring more trust and transparency to the financial market.
The crowdsale will open on October 15th, 2017, 17:00 UTC and close November 15th, 2017. The public will have the option to buy utility tokens, which can be used for accessing services from PayPie at a later date when the platform has fully launched.
The only currency accepted in the crowdsale will be Ethereum, and different cryptocurrencies must be exchanged in order to participate. The reserve Tokens will be locked in a smart contract for one year and will be used for developing partnerships and future acquisitions for the platform to prevail as a market leader.
"For a company revolutionizing the accounting industry it seemed logical to explore raising funds with the most cutting edge technology available", commented PayPie CEO, serial entrepreneur, and member of the Forbes Technology Council, Nick Chandi. "It will also help connect us with our desired user: switched-on, tech-savvy individuals who can see the true value in new ideas".
PayPie aims to change the way accounting is done by small and medium size businesses, as it leverages blockchain to enable live financial audits, speed up credit approvals, and improve the overall credit scoring process.
With PayPie, companies simply write their transactions directly into a joint register on blockchain to create interlocking system of accounting records. This data is then fed into PayPie's algorithm, to obtain an objective score of a business' credit health. This information can then be used by lenders, auditors, accountants, and insurance companies, etc. - potentially saving these companies billions on overheads.
The improved accuracy of this information not only aids lenders, auditors, accountants, insurance companies, etc.; it also helps small businesses secure funding. A greater level of financial accuracy should increase trust, reduce risk and thus mean more money is invested in businesses. 'We hope that the token crowdsale will gain us a core user and support base of thousands, ready for our full launch", added Chandi. "Once we are up and running we can then take on the accounting industry at full steam!'
PayPie aims to revolutionize the way accounting is done by small and medium size businesses. Founded by Nick Chandi - a serial entrepreneur and a member of the Forbes Technology Council - its aim is to bring ultimate trust and transparency to the financial markets by introducing the world's first credit risk assessment based on blockchain accounting. The platform solves the problems of fraud and inconsistencies which exist in isolated accounting systems by allowing for real-time audit and analysis of financial statements on the blockchain. This analysis is done using a decentralized single ledger approach and will consider the all-time historical accounting information of participating businesses to safeguard and transform the way credit risk is assessed by lenders, investors, banks and other financial institutions. All inputs will be bound to the blockchain in a triple entry accounting structure, which will secure the entire transaction-checking process generating reliable and unbiased data.
Name: Jim Glade
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