What does this all mean?
What is Hiveterminal?Hiveterminal is a blockchain based invoicing finance platform.
What is blockchain?Blockchain is the technology that powers crypto currencies. Imagine a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regular update this spreadsheet, this is the basic idea of a blockchain.
What is factoring?This is a way for a business to sell its unpaid invoices to raise money. In financial terms the method that the terminal uses for financing is called non recourse factoring.
Why would a business sell its invoices?If you are a small/medium sized business (SME) some of the most profitable work you do can be for larger companies. Whilst they pay well, the big companies can have very bad payment terms, meaning SME’s wait a long time to be paid. So rather than have to wait the SME can sell their invoice to someone else who gives you them the cash straight away (i.e liquidity 🚰).
Hiveterminal platform is free for invoice sellers, with invoice risk score calculated on a per-invoice basis and with discounts averaging between 0.6 - 3% of the invoice amount.
Why would someone want to buy an invoice?To make a profit and generate a passive income 💰. Both companies and individuals can purchase invoices on Hiveterminal.
How do you make a profit buying an invoice?When a business sells an invoice through Hiveterminal a formula is applied to it. Hiveterminal looks at the business that uploaded the invoice, who the invoice is for, when it is due and works out a discount. This discount is then applied to the invoice. When the invoice is bought the SME will get the value of the invoice less the discount. When the invoice is paid the person who bought the invoice gets the full amount, making a profit ⚖️.
With a transparent invoice risk score assessment on a per-invoice basis, buyers can find invoices that suit their risk appetite, earning average of 24-40% ROI annually.
How large are the invoices being sold on Hiveterminal?The value of the invoices ranges massively from those that are a few hundred euros to some over hundred thousand euros. You can get involved at whatever level you prefer.
What are the risks of invoice buying?The critical potential risk is that the debtor will go bankrupt and not pay the invoice. The more common risk is that the debtor is late in paying the invoice. This then reduces your annualized return on the money you are using to buy invoices.
So why all the excitment about Hiveterminal?Blockchain is quite a new technology and there are very few working businesses out there yet. Hiveterminal is a real functioning business and these 0 invoices sold represent real businesses being helped on one side and on the other side real people making a profit.
But only '0' invoices been bought?Hiveterminal has only just got started. It is so far been only available to business in Slovenia as this is their native country. But people in countries around the world can buy the invoices (sadly currently not available to USA residents). Hiveterminal has just started to expand to other countries, the first of these were added on the 13th of July 2020. Expansion has now started within the DACH region but progress so far has been steady.
Can I get in on the action and buy invoices on Hiveterminal?Yes you can. For a guide on how to buy invoices check out this guide. You can sign up to Hiveterminal.
Love the business model, can I buy shares in Hiveterminal itself?You cannot buy shares in Hive terminal, instead as it is a blockchain business you can buy Hiveterminal tokens, $HVN. These tokens are used to power the business. When an invoice buyer buys an invoice they have to pay a 1% fee in the HVN token. The more popular Hiveterminal gets and the more invoices that are sold, the more valuable the $HVN token should become. $HVN can be purchase through a number of exchanges listed on this site. But remember the price of $HVN token can go up and down!
What are HiveTerminal tokens, $HVN?Hiveterminal uses tokens ($HVN) as fees on the platform. If you want to purchase an invoice on the platform you pay a percentage charge in HVN. In the crypto world this type of token is known as a utility token.
Is this page offical?No, I am just a Hiveterminal supporter, I think Hiveterminal is a great idea and so I bought some $HVN. This site was just built as a bit of fun for me to see how the project is progressing. If you find this site useful and want to drop me a few $HVN or some $ETH that would be great.
Where does the data come from?Hiveterminal runs on a private instance of Ethereum. To increase transparency for the crypto community when an invoice has been sold a record is added to the public chain (Contract 0x86f7967C16E357c0BEeaDAcB7CEa3ac626bCFE71). This record can be cross-checked against the invoice in Hiveterminal itself. This provides a public proof of invoices purchased but ensures the customer data is kept safe. You can read the offical information about it at: Hiveterminal Invoice Proof of Ownership DAPP Released.
What has happened so far with the project?The team has been working hard and achieving real-world results. Technical, business and strategic targets are being completed, the management team is also realistic about adapting as the project progresses. You can follow the milestones reached on the 'story so far'.
I have more questions.For details about the project, how to contact the team and be part of the active community you can learn more.
Can I help promote the project?We thought you would never ask ;) The community has put together some resources which you are more than welcome to help share.