After securing $8.95 million (BTC 2,087) from 2,234 participants through an ICO in August, Hive Project has released a demo version of their platform and completed an eight-market deal.
Hive Project uses distributed ledger technology to grant every issued invoice a unique fingerprint. This innovation enables businesses to automate the invoicing process, bringing the benefits of blockchain technology closer to commercialization. Hive Project’s end state will eventually include a full marketplace with advanced trading analytics for peer-to- peer lending. This will increase the liquidity available to small businesses and create a central database of invoices available for scoring and auditing. Hive Project technology will help credit checks made on companies and facilitate rapid and real-time auditing.
“We are proving that our core mission — to create a blockchain based platform providing SMEs worldwide fast and low-cost liquidity — is on the verge of becoming a reality,” co-founder and CEO Jure Soklic said.
Hive Project has completed a deal with ADACTA to fully integrate the platform into their system, making Slovenia, Croatia, Serbia, the Czech Republic, Germany, the UK and Russia their initial markets.
“In the Russian market alone there are 5.67 million SMEs with a combined turnover of €700 billion,” Mr. Soklic said. “This partnership will fully automate access to our platform for SMEs in the region and give them the funding they need for their unpaid invoices with just a few clicks.”