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Hive Project Releases DEMO Version and Announces 8-Market Partnership (including the UK, Germany and Russia)


Hive Project, the first blockchain-based invoice financing platform, releases its DEMO version with drastically improved performance and added functionalities, adding an 8-market deal at the same time.






After securing $8.95 million (BTC 2,087) from 2,234 participants through an ICO in August 2017, Hive Project (www.hive-project.net) have been busy adding new chapters to their success story – releasing a DEMO version of their platform and making strong business headway in the form of an 8-market deal.

In recent years, invoice financing has emerged as a welcome solution to the growing demand for credit. Since 2009, when the effects of the financial crisis first took hold, the industry has surged ahead at a rate of 14% per annum, adding over a trillion euros to annual invoice financing volumes in the process. In 2016, global invoice financing surpassed EUR 3 trillion in annual volume, with growth continuing ever since. However, access to traditional invoice financing is typically restricted for small businesses. Difficulties such as automating processes and avoiding invoice duplication, among others, represent significant barriers to entry. But these are problems Hive Project solves.

Hive Project uses blockchain (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. Ultimately, Hive Project’s end state will include a full marketplace with advanced trading analytics for peer-to- peer lending. This will rapidly increase the liquidity available to small businesses and create a central database of invoices available for scoring and auditing. In addition to bridging the liquidity gap for small businesses, the technology provided by Hive Project will help credit checks made on companies and facilitate rapid and real-time auditing.

Jure Soklic, Hive Project Co-Founder and CEO: “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.”

Securing an 8-market deal - CEE countries (including Germany), Russia and the UK

With the DEMO version now online, the team can continue to focus on the business side of the platform — adding to the partnerships and collaborations we have already established. And we have something else to reveal! As our CFO, Ugur Yildirim, explained in San Francisco, we have convinced a market leader to fully integrate our platform into their system, making Slovenia, Croatia, Serbia, the Czech Republic, Germany, the UK and Russia our first go-to markets.

Jure Soklic, Hive Project Co-Founder and CEO explains: “Not only are we tapping into the CEE markets, UK and RUSSIA — in the Russian market alone there are 5.67 million SMEs with a combined turnover of EUR 700 BILLION — this mind-blowing 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.”
hive-project.net/

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Friday, January 12th 2018
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