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Hiveterminal Unveils Factoring Industry Revolution Powered by Blockchain

Blockchain startup, Hiveterminal, is making history as one of the few blockchain innovations pushing the real-life utility of the technology. The company’s invoicing solution for the international invoice financing industry is one of the first concrete efforts at tackling the capital bottlenecks crippling this multi-trillion dollar market. Leveraging the blockchain’s disintermediated and decentralized ledger system as the backbone for the secured exchange of values, Hiveterminal is developing a transparent and automated solution for the future of the factoring industry for the years ahead.

The Hiveterminal Platform

Launching first in Slovenia and then to the rest of the world, Hiveterminal is providing SMEs with the often sought after, but rarely delivered solution to liquidity problems. Hiveterminal’s patent-pending solution not only throws the door wide open for SMEs to acquire the funding required for their operations, but contributors are also afforded the opportunity to earn on contributions made.

The blockchain is the foundation for Hiveterminal‘s innovative solution, granting every invoice issued a unique fingerprint and automating invoices. The platform plans to expand into becoming an all-encompassing marketplace for peer-to-peer lending, giving stakeholders access to advanced trading analytics. The marketplace is set to drastically increase the available liquidity to SMEs, while building a decentralized and easily accessible database for businesses to score and audit invoices. It will also help facilitate credit checks and improve the real-time auditing capabilities of businesses.

Speaking at the launching of the platform, Jure Soklic, Hiveterminal Co-founder and CEO, was quoted as saying:

“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.”

A Pioneering Marketplace with Real-time Invoicing for Blockchain Adoption

Invoice financing has been providing businesses with a means of ensuring daily liquidity for their operations for decades now. As an asset-based financial instrument, invoice financing makes it possible for businesses to finance receivable, slow-paying accounts. However, this instrument has often remained exclusive to banks until now.

Hiveterminal is now making it possible for anybody to participate in the market as an invoice buyer backed by the immutability of the blockchain. Its solution eliminates the middlemen clogging up the traditional system. These middlemen are required to access risk to counterparties, however, their reports are often based on outdated sources and their delivery is painstakingly slow. Hiveterminal’s blockchain revolution introduces a unified ecosystem integrating various corporate intelligence data sources, ERP data module, and a proprietary scoring algorithm. These features will enable Hiveterminal to deliver a real-time invoice raising marketplace built on transparency and trust between actors.

Visit the Hiveterminal Website for more information  – on Twitter: @bitcoinnewscom

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