The Hive Project announced the launch of first cryptocurrency-based invoice financing platform that intends to provide new liquidity pools for small and medium-sized enterprises (SMEs).

The Hive Project is powered by the risk-lowering technology offered by blockchain. It is an end-to-end platform that offers SMEs an easy access to short-term financing.

The launch of cryptocurrency invoice financing platform aims to disrupt the current invoice finance landscape by providing SMEs the access to finance without the necessity for centralized intermediaries.

“We want to help small businesses solve their liquidity issues by leveraging blockchain technology to provide financing options previously only available to large companies. Our platform will dramatically streamline invoice issuance and settlement processes, optimizing small and medium-enterprises’ ability to access liquidity for day-to-day operations and to finance expansion,” Jure Soklic, CEO and co-founder of the Hive Project, said in the release.

Hive utilizes Ethereum blockchain and smart contract technology in order to assign unique fingerprint to every invoice that are issued by tokenizing invoices and publishing them on the blockchain. Also, Hive includes a full marketplace with advanced trading analytics for peer-to-peer lending. This will increase the liquidity to small businesses and create a central database of invoices for scoring and auditing purposes. Apart from this, the blockchain technology will help facilitate rapid and real-time auditing.

“The Hive Project helps small businesses automate invoicing and payments, delivering the benefits of blockchain innovation to commercial entities previously deprived of ready access to finances,” Richard Titus, Advisor to Hive Project, and CEO of Prompt.ly, commented. “Hive Project’s end state, a marketplace with advanced trading analytics for peer-to-peer lending, will rapidly increase the liquidity available to small businesses and expand today’s often mercenary ecosystem of factoring and lending.”

The Hive (HVN) Project crowdsale starts today, July 3, 2017 and is scheduled for six months. The company said that the project aims to secure initial capital of BTC 2,000 through its HVN token, that will be utilized for technical infrastructure development and the creation of the Hive Invoice Financing Fund (HVNX).