Wed, 14 Nov 2018

Invox Finance (INVOX)

Invox Finance (INVOX)

How Invox Finance Differentiates the Traditional and Modern Invoice Financing

Review Project

If you think that Invox Finance is just another service or website with a focus on invoice financing, then you are hugely mistaken. Sure, the basic focus and idea is about invoice transaction with the hope that cash flow will remain healthy and strong. And the development team in this platform is determined to create a smart system and technology so the overall transaction can be simple and easy.

Traditional vs Modern Invoice Financing

In the traditional invoice financing, business owners will sell out the invoices to financiers, and buyers will have to pay off their invoices to the financiers. It is basically a simple relationship between business owners, buyers, and financiers. Unfortunately, in this traditional method, it is only the financiers and business owners who make direct interaction.

Buyers are left clueless – they usually have no ideas of any deal between the financiers and the business owners. When they are told to transfer the money to a different account, they may do so without asking for further questions.

With Invox Finance, however, the implementation is different. In this platform, all the three parties are involved and they know each other’s activity. Thanks to the blockchain technology and smart contracts, everything is made transparent so no one is left behind.

First of all, there won’t be any financiers in this platform. They are called investors. You can freely lay out your smart contract plan – how your invoice is, the state of the financial, how many invoices you have, the value of those invoices, etc – and any interested investor can sign the deal with you.

Your buyers also know – they know that their invoices are being used to improve cash flow – and they should know to whom they will be paying off their debts. Basically, the smart contract allows everyone to know their rights and obligations and they have nothing to hide. By doing this, everything is transparent without any extra surprises.

Invox Tokens Functions

Every platform has their own token, which generally acts as the main currency for the platform. The same thing also applies to Invox Finance with Invox token as the main drive. However, this token has another function which is related to trust and credibility.

You see, for every invoice being verified by the buyer, these buyers will get the token reward. Once buyers pay off their invoices, they will get another reward. This will show a great trust level for the buyers, providing ease of mind for investors.

They know that they are dealing with trusted and reliable business owners and also buyers. The more rewards the buyers get, the more trusted they are. The same thing also applies to the business owners – creating a safe and open platform. No need to talk loud about your credibility – your actions (and your rewards) have spoken volumes.

To get started, business owners need to pay a certain membership fee, which is applied on a yearly basis. Investors or buyers don’t have to pay for anything. But if you want to have the tokens, you can take part in the token sale by simply visiting Invox Finance website and you should be good to go.

Token Sale

Crowdsale Opening Date

15-04-2018

213 days ago

Crowdsale Closing Date

14-05-2018

184 days ago

Allocations

Team

Roadmap

Stage 1
Invest A$500,000 in cash as capital
Create an initial community
Develop the whitepaper
Prepare to conduct the ICO
Define the system framework
Engineer the Dynamic Invoice Smart Contract

Stage 2
Develop the MVP
Conduct the ICO

Stage 3
Complete the MVP
Start user testing to guarantee the release of a quality product

Written By

Isuk
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