The Hive Project is tend to provide a new financial liquidity for small businesses. It is a invoice cryptocurrency financing problem.The hive project aims to get cryptocurrency invoice financing into the conventional. It is mostly driven by risk lowering technology offers by blockchain. Although, being as the backbone of every economy the SEMs is traditionally poor assisted by the forms of financing. The hive project was a long wait of official process for completion and the surety levels requires banks to present perverse hurdles for SEMs.
With the less number of access it demands momentous of huge amount of documentation while approving finance. For medium and small enterprises, it finds a huge funding gap that has drove the global factoring industry’s growth of more than 10%.
The Co-founder and CEO of Hive project stated:
“When it comes to getting credit, it is clear that rapid changes are afoot in the old economy. We want to help small businesses get liquidity by leveraging blockchain technology and giving them financing options previously available to large companies.”
Invoice cryptocurrency financing:
Since 2009, the industry has surged a step more at rate of 14% per annum. The traditional invoice financing is characteristically reserved for stable companies that access reduced for small business. Additionally, the difficulties that automates process, dilution, ineligible accounts, duplicates create barriers. These are the particular the hive project proposes to deliver solutions.
Ultimately, hive project concludes a full marketplace with a well-advanced peer-to-peer lending analytics. Though, that will instantaneously growth the liquidity available to small businesses and create database of invoices obtainable for scoring and assessing.
It obtains the scores for particular entities that will have a sufficient track record of financial record. Therefore, invoices uploaded to the Ethereum blockchain frequently and at no cost by entitlement sellers looking for liquidity.
Advisor to Hive Project and Former SVP Samsung Electronics Visual Display and CEO, said:
“Helping small businesses automate the invoicing process, The Hive Project delivers the benefits of blockchain innovation to Main Street commercialization. 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. It’s just the sort of financial innovation we expect from new technology and talented entrepreneurs and developers”