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As a financial instrument, invoice financing is a valuable tool that organizations frequently and actively use for liquidity. In the current setup, only institutional investors such as large financial organizations and banks can only take part in it.
These institutions also rely on complex risk assessments and other evaluations before investing in an invoice. Hiveterminal, as a decentralized peer to peer invoice financing platform, radically changes the landscape of the industry.
Leveraging blockchain technology, Hiveterminal allows users to take part in invoice financing that was once only available to large corporations. The platform offers various advantages over traditional setups:
- Instant Upload: Users who require liquidation can simply join the network and upload their invoices, connecting them to a worldwide pool of investors.
- Real Time Scoring: The platform allows for real time invoice scoring through a built in algorithm, allowing for investors to see the financial health of invoices uploaded and make quicker and easier decisions.
- Smaller Investors: Rather than having large investors, the platform allows for individual and small investors to take part in the multi trillion dollar market.
- Instant Fund Transfer: Rather than have traditional banks transfer funds from investor to invoice uploader, the platform uses the instant transfer characteristics of the blockchain to shift investor’s funds to the invoice party.
- Smaller Businesses: Traditional markets only accept reputed and large business invoices to invest in. With Hiveterminal, smaller businesses who were deprived of the opportunity can also now use the services.
- Peer to Peer Lending: Decentralization means that investors and borrowers are connected directly on the platform, without intermediaries. This saves a lot on commissions and the invoice uploader gets the actual funds invested.
- Rapid, Real Time Auditing: Through the advanced features of the decentralized ledger technology, the platform offers real time auditing and allows investors and borrowers to ensure good investments.
The blockchain technology ensures every issued invoice is uniquely identified and automates the whole process, bringing speed and efficiency that is vastly superior to the current market practices. With the platform, users (lenders and borrowers) are given a transparent and trustless environment that allows for low risk business transactions.
The launch of the Hiveterminal platform is the first practical real life use of the decentralized technology. CEO and co-founder, Jure Soklic was very excited about the launch,
“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”
The platform initially allows Slovenian entities to upload invoice financing data, especially small businesses that otherwise cannot access the multi trillion dollar market. The platform is set to change how the invoice financing industry works and is gearing for a global change.
For more information on the invoice financing platform, visit their website.