Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook Follow The Paypers on Google +
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Cryptocurrencies

Hive Project to launch invoice platform through blockchain technology

Monday 3 July 2017 | 10:24 AM CET

The Hive Project has developed a cryptocurrency invoice financing platform to provide new liquidity pools for small and medium-sized enterprises (SMEs).

The solution uses blockchain technology to offer SMEs access to short-term financing by turning their accounts receivables into tradable assets. Small business will now have access to finance independent of centralized intermediaries.

The platform is based on Ethereum blockchain and uses smart contract technology for fingerprint authentication and assigns each issued invoice a token before publishing them on blockchain. This allows businesses to automate their invoicing process.

The Hive Project plans to launch a full marketplace with trading analytics for peer-to-peer lending on its platform. Besides increasing the liquidity available to SMEs, this will also create a central database of invoices which can be used for scoring and credit checking.

Members on the platform will receive a token, which will allow them to purchase invoices and obtain credit scores for companies which have a financial track record on the Hive blockchain.

The Hive Project aims to secure initial capital of BTC 2,000 through its token (HVN) crowdsale scheduled for six weeks starting Monday, July 3, 2017. The capital will be used for technical infrastructure development and the creation of the Hive Invoice Financing Fund (HVNX).

 advertisement
 advertisement
 advertisement
 advertisement