What is Hive Coin?
Hive Coin is a cryptocurrency. With the new blockchain technology and smart contracts, companies no longer need centralized intermediaries for transactions or financing. The blockchain grants absolute transparency, integrity and immutability of the data stored in the system.
Hive Coin is a new cryptocurrency in the modern market of online transactions. The background of the coin is to create a platform where claims can be traded. Sellers offer open receivables and businesses can acquire these very cheaply and raise the money needed.
Hive Coin in numbers – as of February 13, 2018
Hive Coin has a current market capital of $51,958,875 and a daily trading volume of $173,533. The total offer of Hive Coin is 500,000,000 HVN. Of these, 375,000,000 HVN are currently in circulation. Hive Coin is currently ranked #208 in the coin ranking of coinmarketcap.com.
What is Hive Coin?
Hive Coin is a cryptocurrency that is based on the blockchain and should offer all users fast and cheap liquidity. The Hive platform and the system behind it are specially designed for factoring. Companies can purchase receivables that have not yet been settled, and then take care of the procurement of the required money.
It is attractive to businesses that can acquire the claims at a low value. The quick liquidation particularly benefits the seller of the claim.
The functionality is well defined and divided into three steps. First, a company uploads its own financial data to the blockchain. These data are transparent and cannot be changed by any party. The company then has the opportunity to disclose claims, should there be a liquidity shortage.
Third parties can subsequently rely on the correct data, making the sale of these claims profitable for both parties. Hive places enormous value on trust and constantly works to preserve it. In this way, large and small companies can participate in the project. The system provides data about the business partner, which creates mutual trust, and risks can be calculated and estimated.
Hive is referred to as an end-to-end platform that gives SMEs easy access to short-term financing. This works by converting the receivables into assets that can subsequently be traded. Tokenizing and publishing all invoices in a secure blockchain makes this project workable.
Hive creates a new meta-market that enables factoring companies, banks, mutual funds, policyholders and private investors to provide liquidity based on their own criteria and expected returns.
What is this type of cryptocurrency used for?
Hive coins are used to make demands on factoring companies, who can then compensate them. This process uses the blockchain, which offers a high level of security for all transactions. All seller and borrower data is cryptographically secured in this system.
Another benefit of the blockchain is the accurate audit of all transactions. There is no way to manipulate and double-book the transactions. The blockchain guarantees that any money can only be spent once, in this way avoiding fraudulent bookings or duplicate bookings.
This high level of security is particularly important for investors. The algorithm behind the Hive platform provides the market with accurate information and potential risk information. This allows investors to estimate each claim and to be aware of their own exposure. Even small investors gain important trust by this measure, which they need to create.
Hive uses the Ethereum blockchain technology and smart contracts to give every resulting invoice an individual fingerprint.
Invoice factoring is invoice finance that enables companies to sell their debtors and improve working capital. Factoring is easier to implement and maintain than traditional financing methods. With the help of Hive Coin, it is technically a liquid investment, not a loan.
Who is behind Hive Coin?
The team behind Hive Coin consists of 12 people, three of whom serve as consultants.
Jure Soklic is the co-founder of Hive and supports the company as Chief Executive Officer. He has extensive experience in the global financial industry and is an expert in e-commerce, digital marketing and business development for start-ups. His strong track record in these areas makes him a competent Hive leader.
Dejan Jovanovic is also co-founder of Hive and occupies the post of Chief Technology Officer. He has more than 25 years of experience in software development and leading large technology projects.
Consultants Richard Titus, Michael Terpin and Sebastian Quinn-Watson ensure the long-term success of Hive. They have very strong backgrounds in finance, blockchain and cryptocurrencies.
Hive Coin starts with a good idea that can benefit both companies and sellers. The very high level of security ensures sufficient confidence in the company.
The price of Hive Coin has been recorded on coinmarketcap.com since September 2017. At first, it was very stable in a range under 0.10 USD. In January 2018, the price hit a high, and more than tripled. In the meantime, the price has fallen again and is now at 0.16 USD.
The lowest price quoted was on October 13, 2017, at $0.017.