The greatest thing disruption technology had done in decades is the creation of the blockchain protocol. It had brought a new paradigm shift -decentralization a peer-to-peer network. Decentralization comes with transparency that is why there is a massive adoption of this process. This has made a lot of things possible. The Fintech services are booming with many great innovations of which comes the InstaSupply Platform founded by Lee Pruitt and Tim Huegdon.
Many businesses are failing because of the procedure it takes to get financial credit from traditional financial services. Most businesses run on loans including Small Midsized Businesses (SMB), blue chip and AAA+ rated companies. They get bank loans to execute most of their project. SMBs find it difficult to get credit facilities from banks which results in cash flow issues.

InstaSupply platform

InstaSupply platform is a cloud operating robust ecosystem on the blockchain technology which is presently used by over 2000 companies. It is out to service Small and Midsized Businesses (SMB) with its' cryptoassset PayBlok Utility Token. It encourages B2P (business-to-business) payments. It also aims to improve the way businesses are run by digitizing and automating payment options for SMBs and other business processes, such as paying and receiving payment, approving workflows, budget control, account reconciliations, payment control, track and control orders, credit document storage and secure invoicing.

Problems of SMB

1. B2B Payment Process

With B2B, the process is a simple one businesses making a commercial transaction with another. We have a sender and a receiver. In the payment, the buyer manages the purchase-to-pay and the supplier manages the order-to-cash process This cycle continues until completed which has a result in the cash position of the business.

2. Late Payment Problem

Late payment is one of the major issue affecting SMBs businesses. A business has been completed and payment is yet to be done. 34% quote late payment in processing time. This affects the supplier most, service has been rendered and financial receivable not tendered.

3. Accessing Credit Facility

Getting financial support is not easy for SMBs. Most resort to collecting money from families and friends or community organization. Assessing bank loans is hard because of the procedures and requirement, The banks will rather give credit facilities to big companies viewing SMBs as high risk and might not be able to pay back.

InstaSupply Solutions

The InstaSupply platform has created a simple workflow for buyers and supplier on how to manage their payment and collection hence having their information recorded on the system respectively.InstaSupply platform enables the users to track and control their businesses thereby controlling their spending. Once an invoice is received user can either accept or reject. If accepted, payment is made and data recorded manually by the user. The application has also reduced the likelihood of human error, fraud and delayed payments.

PayBlok Utility Token

PayBlok Utility Token is a crypto asset token that is used for B2B payment and financing - Supply Chain Financing and Asset-Based Lending on the InstaSupply application.

PayBlok Wallet

PayBlok wallet serves as a wallet for two cryptocurrencies. Users are able to store their ETH crypto coins and the PayBlok utility tokens. They can also temporarily store their fiat currency which can be used to settle payment to buyers or suppliers by transferring to a bank account. A virtual centralized wallet is used on the applications according to what the user offer either a buyer or a supplier. The wallet is centralized because there is the need for a quick and simple interface. It works just like Coinbase. Transferring funds in and out of an online cloud base wallet.

Payments

1. Using PayBlok in Payment Runs
   Buyer can use PayBlok as part payment on the application. Payment is done at current market value. The specified amount is exchanged via externals crypto exchange to fiat before payment to suppliers.

2. Cashing Out PayBlok
   On InstaSupply platform, PayBlok token can be converted to fiat currency then cashed out. There is a limit to what a business can cash out over the week to avoid cash out situations. To cash out, funds are credited to the fiat wallet before transferring to a bank account.

3. Purchasing PayBlok
   A user can buy PayBlok at any point in time but this depends on the availability in the pool on the platform else user is connected to a secondary exchange.

4. External Transfer of PayBlok
   A user can transfer PayBlok tokens in and out of payBlok wallet to an external wallet with the usual ETH gas fee charged Ethereum blockchain.

I recommend you join a token sale that has over 2000 companies with a transaction volume of over $60M annually.

Visit Quick Links for more detailed information.

Website : https://payblok.instasupply.com/

Whitepaper: https://assets.ctfassets.net/5vuk877t9hxd/3NAfrZaazmEk6emsaikqiW/87fb62e129789d978720d85d56c49e0e/payblok_whitepaper.pdf
Author's BountyOx User name: Munareal