The Hiveterminal token (HVN) is an ERC-20 token and is currently powered by the Ethereum blockchain network. Hiveterminal (HVN) uses blockchain technology to give every issued invoice a unique fingerprint. This enables businesses to automate the invoicing process and give the general public the chance to buy unpaid invoices from SMEs.
Hive (HVN) uses Ethereum blockchain (distributed ledger) technology and smart contract to assign a unique fingerprint to every invoice issued by tokenizing invoices and publishing them on blockchain. This makes it possible for businesses to automate their invoicing process and take advantage of factoring services. Hive serves as a decentralized data room for all invoices submitted, each of which has a unique record for the 5 issuer, owner and payer. These invoices can therefore be made available as a shared source of liquidity for factoring and invoice financing. Furthermore, businesses can take advantage of the cryptographically secure nature of the Hive blockchain network to upload all of their financial documentation. Access to detailed financial data about a specific company or invoice can be granted only by the company itself or the recipient of the invoice. This enables real time auditing to be conducted, improves the credit scoring process, expedites credit approvals, etc