Invox Finance is providing an interesting use case in shape of invoice backed financing with the help of block chain technology. With a proven team behind the idea which already has a considerable experience in running successful invoice backed financing company in Australia named ABR Finance Pty Ltd know more here at (www.abrfinance.com.au) and has helped with 30 million AUD in Invoice backed financing, across a broad range of industries including IT, wholesale, construction, transport, engineering, equipment and labor hire, publishing and professional services.
The major deterrent with the traditional invoice backed financing is that the Investor buying the invoice from a seller and advancing the funds against it do not have a direct relationship with the buyer. With the trust solely resting on the seller that he has provided all information true to his knowledge.
So the underlying understanding between the buyer and seller is not completely known to the financier, therefore brings the financier at risk if the invoice is duly paid by the buyer.
Now this present the problem which Invox Finance is trying to solve and provide a better alternative Invox Finance Platform intends to be decentralized peer to peer invoice lending platform which will allow sellers, buyers, investors and other concern service providers to connect interact, share and verify information.Roadmap for the next two year is as follow.
Invoxfinance.io would be implementing a system in which trust and transparency between all the stakeholders involved which will be just to everyone and rewarding at the same time.
The Invox Finance Platform will generate revenue by charging fees to the sellers and investors. Buyers are not charged for using or accessing the Invox Finance Platform, nor are third parties who provide value to the Invox Finance Platform.
Invox Tokens will be created on a public ledger using the ERC-20 standard and will have the following utility:
– will provide access to the Invox Finance Platform for the sellers. That is, each Seller will be required to pay a certain amount of Invox Tokens on a yearly basis to gain access to the platform; and
– reward work performed for the platform. That is, the system will reward buyers and
sellers with Invox Tokens for verification and payment of invoices. The Total amount of Invox Tokens minted ever will be released on publisehed website www.invoxfinance.io. In addition to the tokens sold
during the ICO, 20% of the tokens will be set aside for founders and advisors, 20% of the tokens set aside for the operational fund and 5% set aside for bounties and airdrops.
There will never be any more Invox Tokens created after the ICO is complete.
Do check them out and participate here at http://www.invoxfinance.io/
Learn more from their detailed whitepaper about their roadmap and business model here https://www.invoxfinance.io/docs/Invox-Whitepaper.pdf
Join the conversation here at https://t.me/InvoxFinanceCommunity
Do know the latest update about the project at https://bitcointalk.org/index.php?topic=3048498.0
Do connect with me as well on my BCT profile here https://bitcointalk.org/index.php?action=profile;u=1198447
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