Hives is a company that was formed by a group of multidisciplinary individuals, each an expert in their own right. They started working on the idea in the year 2016 and when a number of stakeholders showed an interest in their project, they decided to take the plunge and start the initiative. The Hives project is aware that the small enterprises are the backbone of every economy, but their only problem is that they face liquidity problems. The gap in liquidity is estimated at about two trillion USD. The Hives projects aims to offer small and medium enterprises liquidity through blockchain technology. This is aimed at giving these businesses a range of cryptocurrency options for financing. Hives makes use of a distributed ledger technology that ensures that each invoice has its own unique fingerprint. This ensures that the invoicing is automated and can be accessed by the general public.
The company creates a data room that is centralized and has all the invoices. This data room has information on the owner, issuer, and payer. These invoices can be given to the general public for trading. Through this trading, the liquidity levels for small business will be improved. Additionally, Hives aims to provide credit checks to companies and facilitate auditing in real time.
In the past, financing of invoices has been welcomed greatly as there is a consistent demand for credit due to a boom in most industries. Since the year 2009 when the financial crisis began, there has been a surge for credit that has risen to about 14% per annum. As a result, this has added over a trillion euros to annual invoice financing. This trend is set to continue as in the year 2016 the global financing of invoicing surpassed three trillion euros. The problem with this trend is that only the traditional and more established companies are able to benefit from this financing while small companies remain locked out. The Hives Project is set on bridging the gap and offering finance to the small enterprises so that they can be able to grow their businesses.
The Hives Project Benefits
Helps Small Businesses
A number of small business have not been unable to access loans from a number of financial institutions and this is where the Hives projects comes in as they are able to give small enterprises a number of financing options that they would have otherwise not been able to access.
The Hives Team
The Hives team has a team that has a wealth of experience in invoice financing and blockchains. The team has a track record of delivering on projects and getting the job done. You can surely rely on them.
First Platform To Use Block Chain Technology In Financing
Hives is the first platform to use blockchain technology in invoice financing, therefore they are ahead of everyone else. In such a competitive industry, having a head start is very crucial as your competitors will be trying to catch up.
The contributors to the Hive Project are set on not only becoming part of a platform that is revolutionary but also one that provides solutions to liquidity problems for small and medium enterprises. The contributors will also be part of a multi trillion dollar business that has great possibilities for growth.