Hive Sets Crypto Invoice Financingbr>
The Hive Project has developed a cryptocurrency invoice financing platform focused on providing new liquidity pools for small and medium-sized businesses (SMEs).
The Hive Project’s end-to-end platform uses blockchain technology to offer SMEs access to short-term financing by turning their accounts receivables into tradable assets. Small business will have access to finance independent of centralized intermediaries.
The platform uses ethereum blockchain and smart contract technology to assign a unique fingerprint to every invoice issued by tokenizing invoices and publishing them on blockchain. This innovation enables businesses to automate their invoicing process, bringing blockchain technology closer to commercialization.
Hive Project will be offering a full marketplace with advanced trading analytics for peer-to-peer lending. This will rapidly increase the liquidity available to small businesses and create a central database of invoices available for scoring and auditing. In addition to bridging the liquidity gap for small businesses, the technology provided by the Hive Project will help credit checks made on companies and facilitate rapid and real-time auditing.
The Hive Project also plans to raise initial capital of 2,000 BTC through its token (HVN) crowdsale, which started on July 3. The company will use the funds for technical infrastructure development and the creation of the Hive Invoice Financing Fund (HVNX), which will be a welcome solution to this growing demand for credit.
“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 Hive Project CEO and co-founder Jure Soklic. “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.”
“The Hive Project helps small businesses automate invoicing and payments, delivering the benefits of blockchain innovation to commercial entities previously deprived of ready access to finances,” said Richard Titus, Advisor to Hive Project and CEO of Prompt.ly. “Hive Project’s end state, a marketplace with advanced trading analytics for peer-to-peer lending, will rapidly increase the liquidity available to small businesses and expand today’s often mercenary ecosystem of factoring and lending.”