INVOX: THE WORLD'S MOST INNOVATIVE INVOICE LENDING PLATFORM

About Invox Finance

The Invox Finance Platform is an invoice lending platform tapping into the US$2.8 trillion invoice financing industry.

The team at ABR Finance Pty Ltd is behind Invox Finance. ABR Finance is a successful invoice financing company and has helped fund businesses throughout Australia with A$30 million in invoicing.

ABR will also become the Invox Finance’s first customer, which allow for multiple sellers and buyers to test the Invox Finance Platform with ABR Finance as the reputable investor.

Problem

The key problem with traditional invoice financing is that the financier purchasing an invoice from the seller and advancing the funds against it does not have a direct relationship with the buyer. The financier solely trusts the information provided by the seller. As a result, the relationship between the seller and the buyer is not completely transparent to the financier, and therefore exposes the financier to a considerable risk of the invoice not being paid as agreed or disputed.

Summary of potential problems

The seller and the buyer may collude or conspire together to defraud the financier.
The seller may issue an invoice for a service that has not been fully completed or a product that does not comply with agreed specifications or requirements
The buyer may dispute the payment liability.
There are also issues with the complexity of the processes and the legal documentation involved. The preparation and execution of legal documents is laborious and costly and may involve a number of third-party providers.
The buyer may become insolvent and unable to pay for the invoices.
The seller, in breach of its agreement with the financier, may instruct the buyer to pay for the invoices directly to them and not return the funds to the financier.

Solution offered by INVOX FINANCE

The invox finance is a decentralized platform which is for peer to peer lending of invoice. This platform will allow a direct connection between the buyer, seller and the investor which will facilitate them for sharing and distribution of information. Thus it will add transparency to the invoice lending process. In addition, in the invox finance platform, all the flow of information and transactions will be handled by a single service provider which will add more trust in the platform with the use of a certain set of rules based on the current market scenario.

In the traditional invoice financing, the financier purchased the invoice from the seller and thus the financier gets ready to give the advance money to the seller against each of the invoices but the term is the buyer has to directly pay the money to the financier based on the invoice. Such scene creates a trust issue between all the involving parties in the transaction.

The following are the features which distinguish invox finance platform from the traditional invoice finance system

The sellers will be able to obtain the money from the financier at low rates of interest.
The new way for the investors will be initiated which will help them to come up and deal in the industrial sector.
The invox finance platform is a fully decentralized platform in which all the parties connects with each other and initiates transparency in their information and transactions.
The sellers can get the direct access to the investors with a peer to peer lending environment which will add benefit for both the seller and the investors.
The following are the features which are embedded in the invox finance platform

Loans smart contracts
User access and processing hub
The blockchain and Ethereum network
Dynamic invoice smart contract
ICO details for INVOX FINANCE

The token associated with invox finance is known as INVOX token. The platform for the token is Ethereum. The value of 1 INVOX is 0.0001 ETH. The total hard cap associated with the token is 20000 ETH. The maximum supply of the token will be 464,000,000.

Conclusion

The invox finance platform is very revolutionizing which will connect all the parties and will add trust in them. This platform offers equal benefits to each of the member associated with this platform. With the traditional invoice finance system, most of the sellers, buyers and investors were facing serious issues which were especially creating a problem for the small businesses to stand in the current market. Thus the solutions offered by the invox finance platform seems very promising in helping each of the party who will be getting associated with them. Hence, with all new technology and feature for one of the sectors of finance market the platform of invox finance will be very helpful and compatible with the upcoming changes and developments.

Website : https://www.invoxfinance.io/

Whitepaper : https://www.invoxfinance.io/docs/Invox-Whitepaper.pdf

Authored By: Derec Wiseman

My telegram: https://t.me/Bulevris