Receivables Finance Via Blockchain Setbr>
The Hive Project has developed a cryptocurrency invoice financing platform focused on providing new liquidity pools for small and medium-sized businesses. The goal is short-term financing for small business, allowing them to turn accounts receivable into tradeable assets.
Hive (HVN) uses the ethereum blockchain and smart contract technology to assign a unique fingerprint to every invoice issued by tokenizing invoices and publishing them on blockchain. This enables businesses to automate their invoicing process.
The Hive Project’s end state will include a full marketplace with advanced trading analytics for peer-to-peer lending. This will create a central database of invoices available for scoring and auditing. The technology provided by The Hive Project will help credit checks made on companies and facilitate rapid and real-time auditing.
“We want to help small businesses solve their liquidity issues by leveraging blockchain technology to provide financing options previously only available to large companies,” said Jure Soklic, CEO and co-founder of the Hive Project. “Our platform will dramatically streamline invoice issuance and settlement processes, optimizing small and medium-enterprises’ ability to access liquidity for day-to-day operations and to finance expansion.”
A (HVN) token grants the token holder the right to purchase invoices on the Hive platform and obtain credit scores for companies which have established a financial track record on the Hive blockchain. Invoices are uploaded to the ethereum blockchain by invoice sellers looking for liquidity.
The Hive Project aims to secure initial capital of BTC 2,000 through its token (HVN) crowdsale starting Monday, July 3, 2017. The capital will be used for technical infrastructure development and the creation of the Hive Invoice Financing Fund (HVNX), which will be allocated to financing SMEs through the collateralization of invoices. More information can be found in The Hive Project whitepaper.