PayBlok Review: The B2B Industry Finally Stops Asking, “You Got Our Money Yet?”

Empowering Businesses to Easily Manage All Interactions with Suppliers

A Welcome Addition to the Blockchain

PayBlok’s mission is to help businesses get paid on time via their InstaSupply platform. Companies of all sizes can send and receive invoices, place purchase orders, and document product deliveries, all from a single interface.

*Disclaimer: This is not financial advice. I’m not a financial expert by any stretch of the imagination. Most information within this article is speculative and merely my own personal opinion. Always conduct your own research before investing in anything, and always remember that what you do with your money is your decision to make.

I plan to receive a small allocation of tokens for creating this content. That said, I will do my best to remain unbiased and fair. I try to avoid all FOMO and FUD and never wish to impart those emotions on my fellow crypto-heads.

Nobody Likes a Deadbeat

Put yourself in the shoes of a business owner whose small enterprise is just getting off the ground. Your staff consists of a small team — including a cousin and an aunt — and every single dollar is a precious commodity.

Cashflow has the power to make or break a business. What truly terrorizes your daily operations is the reliability of payments from your biggest client. An outsized portion of your income is from this one customer.

And they’re currently 45 days behind on compensating your company for the last shipment of do-it-yourself vasectomy kits.

You have a few options at this point. You could take on more debt to cover expenses until the big payday comes. You could sick the collection dogs on your client, risking your business relationship in the process. Maybe you could ask your family to work for free?

None of those options sound the least bit appealing. But sadly, they’re all realities for some business owners.

I’ve witnessed these shenanigans firsthand. I spent more than my share of time in corporate America working for a videogame hardware manufacturer.

Even though we were a $100M+ per year company, our vendors sometimes waited three months or more before we’d cut them a check.

Why would such a large organization drag their feet for so long? We had the money, but that wasn’t the core issue. And we had well-staffed A/R and A/P departments. Personnel wasn’t the problem, either.

We lost several partnerships over our inability to pay on time. And rightly so. There was a rebuilding process before we were able to scrub our reputation as being the shellbacks of paying vendors.

Relax! I’m busy! Your payment will get there when it gets there…

Delayed payments boil down to a main source of pain: Red tape. And the bigger the company, the more tape-cutting before anything gets done. Especially when it comes to spending the company’s money.

And now, as it does so well, our good friend The Blockchain is stepping in to ease our suffering…

The Market is Ripe

Sizing up the overall space is an important consideration when evaluating a new utility token. Anyone can create their own cryptocurrency and invent value that may not truly exist.

The real questions are how many dollars flow through the space, and if the token can gain market share within that space. Tokens need a reason to exist or else they’re just masking shady dealings.

So, how big is the market that PayBlok is currently penetrating?

The US alone accounts for $18T+ transactional volume per year.

Blend that figure with an even bigger $20T+ in unpaid invoices among small- and medium-sized businesses and it’s easy to recognize the gargantuan scale of PayBlok’s industry.

An Archaic System

Ah, invoices. Don’t you just love them?

They show up in the mail — the slow way. They’re made of paper — the old way. They need to be put in binders and filed with big red stamps and sign-offs and seals of approval — the inefficient way. Multiple parties have to get involved just to settle a single transaction — the expensive way.

Languishing on Debbie’s desk in the accounting dept., invoices get paid when Debs is good and ready to maybe get around to paying them…

A Modern Solution

By utilizing PayBlok’s PBLK token on the InstaSupply platform, businesses are part of a payment ecosystem built to streamline interactions between suppliers.

Put simply, supply chain transactions — including those awesome invoices — are all in one place. The InstaSupply platform gives businesses the power to decide who gets paid, and when.

And by making payments with tokens, businesses can skip banks and their slow-moving SWIFT payment system.

Here’s how PayBlok’s InstaSupply platform aims to heal the pain of slow B2B payments:

The PBLK utility token in action

Final thoughts…

PayBlok is in a very advantageous position to capitalize on a move to the blockchain. And because the project has a three-year jump on development and boasts a functional platform with thousands of paying customers, PayBlok is far beyond its competitors.

You may be familiar with the acronym CRM, which stands for Customer Relationship Management. This system or strategy, typically run by software, enables companies to track every interaction with all of their customers.

Similarly, PayBlok has already created a SRM — Supplier Relationship Management (my term, not theirs) platform — to help businesses manage B2B payments.

I see PayBlok as a positive step towards the mass adoption of utility tokens. There’s a real-world problem that needs solving and tokens are a solution.

And as more and more businesses adopt blockchain tech., we as early adopters may reap the rewards.

Visit the PayBlok Website to discover more about the project. And if you’re craving even more words to read, take a look at the PayBlok Whitepaper.

By the way…

If you like what you see here and are in need of help getting your crypto message to the masses, I’d love to hear about your project.

Feel free to reach out to me here: blockchainauthor at Gmail

*This article was created in exchange for a potential token reward through Bounty0x. *** BountyOx username = blockchainauthor ***

--

--

--

Writing for the love of disruptive technologies. You’re always free to reach me here: blockchainauthor at Gmail

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Next steps for the Feirm project

06/05 Market outlook, where does Crypto go from here?

Top 7 White Label Cryptocurrency Exchange Script Software 2022

2021: The Year of Crypto Adoption

Six ways to promote your staking program at it’s fullest potential

Chain of Events

OpenSwap University 102: How to trade tokens

How To Create Your Own Cryptocurrency Token

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
BlockchainAuthor

BlockchainAuthor

Writing for the love of disruptive technologies. You’re always free to reach me here: blockchainauthor at Gmail

More from Medium

Smart Contract — Legal and Technical view

Why is everyone talking about Ethereum 2.0?

Condensed Use Cases Guide #1

Bridging legacy banking system into an hybrid banking system by November 2022 into a fully digital…