Hive Project Raises BTC 2,087 for Blockchain-Based SME Financing Platform

The Hive Project, a cryptocurrency invoice financing platform created to help SMEs get the financing they need, announced today that it has raised $8.95 million through its initial coin offering (ICO), to expand its unique offering.

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The new platform, which secured BTC 2,087 from 2,234 participants, is focused on providing new Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term pools for small and medium-sized businesses which are often challenged by the levels of collateral required and the strict credit checks put in place by lenders.

The funding is vital to Hive Project’s long-term future sustainability. BTC 1,500 of the new capital will be channelled into platform development, marketing and implementation. In addition, the rest of funds raised, roughly BTC 600, will be set aside for the liquidity pool (HVNX).

The Hive Project’s end-to-end platform aims to use Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology to disrupt the SME finance space, using distributed ledger technology to offer SMEs easy access to short-term financing by turning their accounts receivables into tradeable assets.

Powered by the risk-lowering technology offered by blockchain, the platform generates smart contracts and creates a digital marketplace through which small businesses can finance their unpaid invoices.

With its prospects lying in its simplicity, this innovation will give companies the option to sell their invoices to improve their working capital, offering a full marketplace with advanced trading analytics for peer-to-peer lending.

Commenting on the ICO’s success, Jure Soklic, co-founder and CEO, said: “For too long, SME’s have been left out in the cold by traditional lending systems which favor large companies. The success of our token sale is testament to market recognition of the need to reshape the invoice finance industry and ease the burdens faced by SMEs worldwide by bridging the liquidity gap, while providing attractive investment opportunities for invoice buyers.”