Just days after launching its ICO, The Hive Project announced the round has successfully secured $1.5 million from nearly 900 participants. This news comes after the first unveiled its new cryptocurrency-based invoice financing platform.
As previously reported, the company boasts itself as the first cryptocurrency invoice financing platform. It notably provides new financial liquidity to small businesses by leveraging blockchain technology and giving them a range of cryptocurrency-based financing options.
“Hive (HVE) uses blockchain (distributed ledger) technology to give every issued invoice a unique fingerprint. This enables businesses to automate the invoicing process and make it available to the general public. We create a central data room for all invoices, with a record kept of the issuer, owner and payer. Invoices can therefore be offered to the market for trading. 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 will help credit checks to be made on companies and facilitate rapid and real-time auditing.”
While revealing details about its ICO success so far, The Hive Project stated:
“With just 100 hours since the Hive Project ICO officially started, almost 900 contributors have now joined us on our quest to revolutionise the invoice financing industry! With over USD 1.5 million raised, we are now surer than ever that Hive will bring cryptocurrency invoice financing into the mainstream, slashing costs and creating profits for contributors in the process.”
The Hive Project also shared a warning about scammers:
“It has come to our attentions that scammers are trying to acquire your contributions to Hive Project via fake mails and fake accounts on slack channel. REMEMBER! Hive Project will NEVER send any wallet address in an email or on our Slack channel, nor will do so any Hive Project team member! Never send money to address you may receive this way, because it´s a scam. There are no special offers/bonuses of any kind apart from our official bonus policy, that is available on our website!!”
The Hive Project’s ICO is scheduled to run for the next six weeks.