What Is HiveTerminal?
HiveTerminal is a blockchain based invoice-financing platform that provides users with peer-to-peer invoice financing that enables them unlock their working capital instantly. The platform seeks to revolutionize the invoice financing industry.
The main priority of the platform is to provide the industry with transparency and automation while addressing some of the major challenges that small businesses face in acquiring instant liquidity. Additionally, small-scale investors will have the opportunity receive high returns on their investments, which is higher compared to what they would have received from saving in the traditional bank accounts.
How HiveTerminal Peer To Peer Blockchain Invoice Financing Platform Works
HiveTerminal seeks to become an all in one marketplace that features trading analytics that can be used during P2P lending. Apart from increasing liquidity for small businesses, the marketplace will create a central invoice database.
The database will integrate a wide variety of data sources, an ERP data module, and a proprietary scoring algorithm that ensures that the marketplace offers its users with topnotch functionalities. The invoice rating system on the marketplace will ensure that there is trust among all the parties involved in the transaction.
To sell an invoice on HiveTerminal, users will be required to create an account on the platform and select the invoice that they require funding for. Alternatively, the sellers could use Microsoft Dynamics to install the HiveTerminal plugin, which will automatically upload the invoices to the platform.
Each invoice uploaded on the HiveTerminal platform will be issued with a unique fingerprint on the blockchain. This will allow businesses and users to automate the entire process of invoicing and simplify the invoice selling process.
The real-time invoice-rating algorithm will create an invoice rating score for the potential invoice buyers. This will enable the investors to access all the financial data regarding the invoice they want to fund and help them make wise investment decisions, thus reducing the risk of losing their invested funds.
Once the buyer selects the high-return investment opportunity that suits their requirements, they can purchase the invoice from the seller. After the transaction is completed, the invoice buyer will have access to the full invoice amount, directly invoice debtor on the due date of the invoice, as well as the initial funds.
Easy Invoice Financing
Through the implementation of blockchain technology, HiveTerminal will reduce costs, automate invoice processing, and ensure that invoice duplication does not take place. This will result in new finance sources for small businesses while at the same time creating investment opportunities with high returns for invoice buyers.
Free Access To Instant Liquidity
No fees are required in order to upload invoices on the HiveTerminal platform and once a user has created an account and uploaded their invoice they can receive the liquidity they need since once the invoice is purchased, the funds are immediately credited into the seller’s account.
Build Financial History
The real-time credit scoring algorithms of HiveTerminal will utilize Payment behavior data to ensure reliability by rewarding users who make prompt payment. The credit score can be provided to financial institutions such as banks, auditors and government authorities, which will provide the institutions with a clear picture of the company’s financial health.