Hiveterminal Launched - Global Blockchain-Based Invoice Financing Platform Set to Revolutionize Factoring Industry
Hiveterminal showcases one of the first real-life use cases of blockchain adoption in the international invoice financing industry.
LJUBLJANA, Slovenia , November 27, 2018 (Newswire.com) - Hiveterminal is making history in global factoring as one of the first real-life use cases of blockchain adoption in the international invoice financing industry. Being among the first to tackle this multi-trillion market while using the blockchain – the technology of tomorrow – Hiveterminal is leading the way in automatization and trustworthiness, doing what the factoring industry will do in the years ahead.
The Hiveterminal Platform
Hiveterminal announced it launched its business for companies (invoice sellers) from their native Slovenia (EU), and investors worldwide. Hiveterminal is focused on solving a problem many SMEs have and that is getting instant liquidity. The patent-pending solution gets SMEs the funds they need while providing small-time contributors with the opportunity to get returns they could not get if their savings were tied up in a bank account.
Hiveterminal uses blockchain (distributed ledger) technology to grant every issued invoice a unique fingerprint. This patent-pending innovation enables businesses to automate the invoicing process, bringing the benefits of blockchain technology closer to commercialisation.
Ultimately, Hiveterminal’s end goal is to become 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 Hiveterminal will help carry out credit checks and facilitate rapid and real-time auditing.
Jure Soklic, Hiveterminal Co-founder and CEO:
“I am thrilled to announce that, from this moment on, one of the first use cases of blockchain adoption in the real economy is here. Companies from Slovenia are able to upload their invoices and get instant and free liquidity, while invoice buyers from all around the world are able to buy their receivables, finding high-return investment opportunities in the real economy.”
Pioneering Blockchain Adoption in the Invoice Financing Industry: A Marketplace with Real-time Invoice Rating
Invoice financing as a financial instrument is nothing new and companies have been using it as a means of ensuring day-to-day liquidity for decades. What is groundbreaking is the model that enables anyone to participate as an invoice buyer (very different from the exclusivity-based model that banks operate under), the evaluation algorithm, and the technology solution based on the blockchain.
Using the existing tools available for invoice financing means paying intermediaries to assess the risk of the transaction. The analysis often takes time and it is always based on older – potentially outdated and irrelevant – documents (e.g. publicly published annual reports of the company). Hiveterminal’stechnology platform presents the tech ecosystem of blockchain technology, the integration of different corporate intelligence data sources, a proprietary scoring algorithm, and an ERP data module, which enables it to establish a marketplace with real-time invoice rating that will gradually build a fully transparent culture of trust between actors involved in buying and selling invoice receivables. All this means that Hiveterminal is among the first to bring full transparency and automatization into the global invoice financing industry.
Visit the Hiveterminal Official Site – https://www.hiveterminal.com/
Chat on Telegram – https://t.me/hiveterminal
Follow on Twitter – https://twitter.com/hiveterminal
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Read the Medium – https://medium.com/hiveterminal
Meet the Team – https://www.linkedin.com/company/hiveterminal/
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Hiveterminal is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.