Invox Finance ICO begins March 15th ( what you need to know)
Invox Finance
Experienced Invoice financing meets the Blockchain
What is invox Finance?
Simply put, invox fincance is an invoice financing platform on the blockchain. But here is where invox stands out, "actual real world experience". The founders have many years of experience running a successful invoice financing company in Australia - ABR Finance Pty Ltd. Since 2012 they have financed ovr $30 million AUD to medium and small sized businesses.
What is invoice financing?
Invoice financing is when a seller issues an invoice to a buyer that will pay that invoice at a later date. But if the seller needs the money faster, they can sell the invoice to a financier and get the money now. This way, the seller has sufficient cash flow. Intern, the buyer would pay directly to the financier. Everyone wins!!! The seller gets money faster, the buyer has time to pay the invoice and the financier makes a profit by giving the seller a little less than the invoice is worth in the form of a fee.
What are the problems being solved and benefits of the Invox Finance platform?
- By invoice financing on the blockchain all the information can be transparent and decentralized becaue it's stored on a public ledger.
- All parties involved have direct access/ a kind of relationship to each other via the invox platform which equals to more trust.
- Investors face little to no risk because he now has access to the buyer and can verify if invoices are legit quickly.
- Smart contracts can execute tasks automatically once criteria are met.
- Everything will be on the blockchain, no party can tamper or delete the information.
- Financing invoices is much faster.
- Lower interest rates for sellers.
- Free to use for buyers, investors, and third-party service providers.
- Easy for investors to devirsify and reach a variety of industry sectors.
- NO NEED FOR BANKS
The Team
The team looks capable of creating the businesses model on the blockchain as two of the three co-founders have backgrounds in invoice financing (Alex and Adam Mezhvinsky). And the third co-founder( Daniel Tang) is a blockchain specialist. So they understand the problems and what it takes to solve them.
Devlopment team (software and business)
Point to note the lead software developer has been in database administration for about 5 years according to his linkedin. Is that good or bad? That is for you to decide. But I think 5 years experience is a good amount of time in database administration and he has Daniel Tang, a renowned blockchain specialist overseeing him.
Advisors
community/Social media
While most of their traditional social media are not very active, they are active where it counts in crypto space. Their Telegram group at the time of writing has 27,783 members and counting.
Road map and where are they now
They are currently in stage two: MVP ( minimum viable product) development and ICO phase. They do not have a complete product but are already working on the code that is said to be in Invox's whitepaper:
Our whitepaper contains the coding for our proof of concept which is the dynamic invoice. We are currently working on the MVP, and have been since 2017, with our solidity programmer. We’re not only coding the back end but also have UX and UI expertise to ensure the front end is simple and easy to use. We are a motivated and technically equipped team who is always moving forward and ready to hit the ground running as we receive more funds.
Tokenomics
- Token INVOX
- Use case: Platform Access for membership ( sellers) and rewards ( when invoices are paid and verfied)
- Bounty Available
- Platform Ethereum
- Accepting ETH
- Minimum investment 0.1 ETH
- Hard cap 20000 ETH
- Max supply: TBA start of pre-sale March 15th
- Country Australia
- Whitelist/KYC KYC
- Restricted areas USA, China
When does the ICO Start?
The ICO begins March 15, 2018 with a pre-sale 30% bonus at that start that gradually decreases to a 5% bonus on April 20th. The main sale is from April 30th - May 14th ( 15 days). They really are giving the early birds their extra worms.
The fact that most of their funds from the ICO will go into marketing is a good sign as that is the key.
Final note: Invoice financing is a global market valued at approximately $2.85 trillion USD and growing.
For more info on Invox Finance, see the links below
Blog
Whitepaper
Youtube
Telegram