Invox - A New Invoice Financing Platform!
Invox is creating a new platform for invoice financing, and is using blockchain to do it. Invoice financing is where a buyer purchases invoices from a merchant in order for the seller to receive cash quickly. The people who bought products from the merchant must now pay the buyer of the invoices instead of the merchant. The investor who purchased the invoices is compensated for doing so. The goal for Invox is to create an environment for invoice lending between peers that is well trusted and transparent. There is also going to be a reward system in place. Transactions will be executed according to sets of rules using blockchain smart contracts. This eliminates using a service provider to conduct transactions.
There is going to be an Invox token. This will use the Ethereum network. The token will be used for rewards to sellers and buyers who use the system. Also, the token will be used in order to gain access to the platform with the trusted member program. Payment of a certain number of tokens will be required each year for membership.
There are many benefits to using a system like the one that Invox is building. The decentralized nature of it makes is easy for buyers, sellers, and investors to interact, share, and connect. The platform should allow for lower financing rates for sellers when compared to traditional methods. It will also allow for direct and easy access for investors. This type of investing has typically only been available to large banks or finance companies. The platform will open it up to many new investors who may want to add this to their portfolios. Invox also has the ability to integrate API's for service providers of third party applications like identity verification. To read about more features of the platform and to learn more about the company, you can view the website links shown here.
Whitepaper: https://www.invoxfinance.io/docs/Invox-Whitepaper.pdf
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is it proof of work or proof of stake based?
quite interesting post. visited your website and thinking to promote it as well if get benefitted