What is invox finance? It's invoice lending platform, if you think about a small business and the invoice, their customers they might not get payment for let's say 45 - 90 to even 120 days in some cases very long time from when they actually do the job and get paid for it. This means that they can maybe struggle for finance and capital during that the interim period. So, what this platform intends to do is provide these businesses with a way to get money based on the invoice amounts. competition is in singular and it is populous, there is no other ICO or blockchain company that is offering the service at the moment. The differences between populous and invox, the populous platform doesn't allow buyers in the service. The invox platform is actually going to connect the sellers, invoices and buyers on the same platform. It's going to be much more involving and the buyers will also be rewarded with the invox tokens as well. Another difference between the two is invoices uploaded onto the populous platform, paper-based invoices making them static whereas the invox finance platform will incorporate dynamic invoice smart contracts. Allowing the contracts with invoices to be in a completely digital format and looking forward to actually eliminating any paper-based invoices. Another difference the populous platform requires investors to bid against each other as sort of auction for financing the invoices whereas the invox platform will provide everybody with equal access so there'll be a large pool of sellers and based on what the investors risk preferences are and then this will basically eliminate the need for investors to undercut each other in an auction environment. You won't be scrambling or bidding against each other, you'll have a fair and equal chance to get involved. The other differences, populous requires investors to join together in a group so essentially, they’re forming a pool if they're unable to fund larger invoices whereas the invox platform divides the loan in a number of fragments. This allowing a smaller investor to invest as well.
Other Financing Options for Sellers
Bank overdraft
Peer-to-Peer
Unsecured business loan from a non-banking financier
Populous
The Invox Finance Model
We plan to disrupt and revolutionise the traditional invoice finance industry by implementing a global distributed peer-to-peer lending platform called the Invox Finance Platform. This platform will completely eliminate the need for a financier’s involvement by connecting businesses that wish to accelerate their cash-flow through selling their invoices (“sellers”), directly with investors who wish to finance these invoices.
Invox Finance’s differences
Decentralised Platform
Direct Access to Investors
Lower Rates for Sellers
A new way for Investors to Diversify
The Platform Overview
The Invox Financial Platform overview will consist of the following
Dynamic Invoice Smart Contracts
Loans Smart Contracts
User Access and Processing Hub
Bank API Integration
Use of Invox Token?
providing access to the platform through the Trusted Member Program
Award work is done for the platform. That is, the system
will reward buyers and sellers with Invox Tokens for invoices
verification, invoice payment and settlement.
Token Allocation
Roadmap
Stage 1
The Founders’ Investment Founded by the team from ABR Finance, we already have six years of experience in the invoice financing industry. Through ABR Finance, we have also created bespoke financing software for traditional invoice financing, which has lead the founding team to discover the limitations of centralised systems. The team will have invested over $500,000 AUD in cash into Invox Finance. This investment was used
to create an initial community, develop this white paper, conduct an ICO, establish a system framework,
and, most importantly, engineer the Dynamic Invoice Smart Contract. This Ledger facilitates the creation
and registration of invoices in a dynamic digital format to promote authenticity and transparency
for all parties involved and safeguard against data manipulation by any one party. This was the proof of
concept and the first step in creating Invox Finance Platform.
Stage 2
Finalising the ICO and MVP The main objective will be to complete the ICO, and finalise the development of the
Minimum Viable Product (MVP) . Once the MVP is complete, Invox Finance will run a trial with ABR Finance as its first customer to demonstrate a use case and commence rigorous user testing. This will allow for multiple sellers and buyers to test the Invox Finance Platform with ABR Finance as the investor.
Stage 3
Goals for use of ICO funds The first goal will be to fully develop the Invox Finance Platform so that it can handle the scale necessary to meet the goals detailed in this White Paper. Secondly, the team will roll out the
Invox Finance Platform to the public. Following this, will be the creation of a community around the Invox Finance Platform of investors, buyers and sellers to ensure a substantial amount of users within the Invox
Finance Platform. This will be achieved through marketing, grassroots engagement, brand ambassadors and partners. The final goal will be to engage and partner with other distributed platforms and other parties who can bring extra value to the Invox Finance Platform.
Website: https://www.invoxfinance.io/
Whitepaper: https://www.invoxfinance.io/docs/Invox-Whitepaper.pdf
Facebook: https://www.facebook.com/Invox-Finance-162381191061327/
Twitter: https://twitter.com/InvoxFinance
Instagram: https://www.instagram.com/invoxfinance/
Telegram: https://t.me/InvoxFinanceCommunity
Author:https://bitcointalk.org/index.php?action=profile;u=1636278